3M Acquires MTI PolyFab

ST. PAUL, Minn. (AP) -- Manufacturing conglomerate 3M Co. said Friday it completed the acquisition of MTI PolyFab Inc., a Canadian manufacturer of noise and vibration reduction technology for airplanes.

The $24 million deal was announced in March.

3M said MTI PolyFab products will complement those of its subsidiary Aearo Technologies LLC and will provide a comprehensive range of solutions for the aerospace industry.

Shares of the company rose 39 cents to $77.82 in midday trading.

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