3M to purchase Polyporeís Separations Media Business

Acquisition complements 3Mís core filtration technologies platform

3M is to purchase Polypore Internationalís Separations Media business for US$1bn.

The business, based in Charlotte, NC, US, is a provider of microporous membranes and modules for filtration in the life sciences, industrial and speciality segments. The company reported sales of $210m as of 27 September 2014.

Separately, Asahi Kasei has entered into a merger agreement to acquire Polyporeís Energy Storage business.

Both transactions are subject to regulatory approvals and customary closing conditions. In addition, they are conditional on 3Mís transaction with Polypore closing immediately prior to the closing of Asahi Kaseiís deal.

Filtration is a priority technology platform for 3M and the addition of Polyporeís Separations Media business will add new technology capabilities to complement the companyís existing filtration business in life sciences, industrial, water treatment, electronics and foodservice.

ĎThe combination of 3M and Polyporeís Separations Media business will help us to meet customersí emerging needs for high-value filtration solutions,í said Michael Roman, Executive Vice President, 3M Industrial Business Group. ĎTogether, we will be able to offer a broader array of products to both Polyporeís and 3Mís customers, which will accelerate the global growth of our membrane business.í