3M Closes Third Deal of 2012 with $860M Ceradyne Buy
Because of the transaction, the Post-its note maker will be able to develop advanced ceramics
3M (NYSE: MMM) has completed its $860 million acquisition of Ceradyne Inc.
Costa Mesa, Calif.-based Ceradyne develops and produces technical ceramics for the automotive, oil, solar, industrial, electronics and defense industries. The deal will allow 3M to develop advanced ceramics.
The transaction was announced on Oct. 1.
3M, headquartered in St. Paul, Minn., makes Post-its and Scotch tape. The company acquired CodeRyte Inc. in April, and Federal Signal Technologies Group for $110 million in June.
In October the company terminated an agreement with Avery Dennison Corp. (NYSE: AVY), under which it would have paid $550 million for the company’s office and consumer products business.
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