3M announced Tuesday that it will acquire technical papers, boards and laminates producer Innovative Paper Technologies LLC.
The company also announced its acquisition of Powell LLC, which supplies non-woven polyester mats for the electrical industry.
The transaction is expected to close in May and financial terms of the transactions were not disclosed.
“The addition of these businesses will help us to broaden our core product offering, as well as expand into adjacent markets,” said Paul D. Steece, division vice president, 3M Electrical Markets Division.
3M's Electrical Markets Division is based in Texas and designs, manufactures and markets products for electrical construction, industrial maintenance, utility and industrial power businesses, and electrical/electronic devices produced by original equipment manufacturers.