3M [MMM] on Wednesday evening said it has agreed to acquire Advanced Chemistry & Technology, Inc. (AC TECH), a manufacturer of sealants for aerospace applications, boosting its presence in the market for commercial and military aircraft.
Terms of the deal were not disclosed.
“The addition of AC TECH expands 3M’s product presence in the aerospace market for the manufacture and maintenance of commercial and military aircraft,” Denise Rutherford, general manager for 3M’s Aerospace and Aircraft Maintenance Department, said in a statement. “The combined portfolio expands our value-added solutions offering to our customers, supporting their efforts to produce lighter, safer aircraft components and structures in a faster, more cost-effective manner.”
AC Tech is based in California and has 70 employees. The transaction is expected to close in the third quarter of 2011.