3M Co. (MMM) enters agreements with Pierrel for the sale of assets associated with the dental local anesthetic business
Get Alerts MMM Hot Sheet
Join SI Premium – FREE
3M today announced it has entered into agreements to sell certain assets associated with its dental local anesthetic portfolio, based in Seefeld,
3M's local anesthetic products, sold primarily in
As part of ongoing strategic portfolio management, 3M has decided to exit these products and prioritize investments that leverage its Health Care business' core
"We believe that these products will be well positioned with Pierrel," said
These local anesthetic products had annual sales in 2022 of approximately
The transaction, which is subject to information or consultation requirements with relevant works councils and other closing conditions, is expected to be completed in the third quarter of 2023. 3M expects to record a gain upon this business's divestiture which it will reflect as an adjustment in arriving at results, adjusted for special items. After the transaction closes, 3M will provide transition support to Pierrel to help facilitate a smooth transition for customers.
3M will retain ownership of its Seefeld facility and operations, which support 3M's
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Iridium Communications (IRDM) Reports In-Line Q1 EPS; offers outlook
- Current S&P 500 correction has further to run - Evercore ISI
- Infosys Limited (INFY) Tops Q4 EPS by 5c; offers FY25 guidance
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsRelated Entities
Twitter, Bankruptcy, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!