3M adds Nida-Core engineered materials to company - Photovoltaics World
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3M adds Nida-Core engineered materials to company

(January 4, 2010 - BUSINESS WIRE) -- 3M has acquired the business of Nida-Core Corp., a manufacturer of structural honeycomb core and fiber-reinforced foam core materials based in Port St. Lucie, FL. Terms of the transaction were not disclosed.

Nida-Core’s portfolio of high-strength, low-weight, engineered materials provides solutions in general industrial markets, including transportation, marine and renewable energy for various applications such as in wind blades, boats, solar panels, trucks, cars, buildings, skis, sporting accessories, planes, soil stabilization, buses, tanks, and swimming-pools. Offerings include a variety of structural honeycomb-cored and foam-cored products in either pre-cut or standard sizes, closed-molding cores including NidaFusion, composite panels, kiln-dried end-grain balsa, as well as a variety of curing compounds and accessories common to the composites market.

3M’s Engineered Products and Solutions Department (EP&S), a department of IATD led by Vic Genco, general manager, will be the new reporting unit for Nida-Core within 3M. EP&S delivers a diverse suite of engineered products and solutions into differentiated industrial applications, including best-in-class composite resins, unique industrial fastening solutions, and other innovative solutions for industry.

Nida-Core operates with a workforce of approximately 25 people. The acquisition agreement also provides for the acquisition by 3M of the business of Structiso SARL, a company affiliated with Nida-Core. Structiso is located in Aniche, France, and operates with a workforce of three people. The acquisition of Structiso is expected to be completed early in the second quarter, subject to customary closing conditions.

Nida-Core Corp. provides structural composites core materials. For more information, visit www.nida-core.com.

3M produces innovative products for diverse markets. For more information, visit www.3M.com

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