3M’s business, with annual sales of approximately $95 million, is a provider of electronic monitoring technologies, serving hundreds of correctional and law enforcement agencies around the world.
“This divestiture is one of several actions we have taken to improve our portfolio,” said John Riccardi, VO and GM, Transportation Safety Division. “We are focusing on the rapidly changing trends in transportation safety and mobility, which include the connected roadways of the future.”
The Transportation Safety Division, formerly known as the Traffic Safety and Security Division, supplies materials and solutions including retroreflective sign sheeting, pavement marking, temporary traffic control, vehicle registration and conspicuity. Approximately 265 3M employees who support the electronic monitoring business are expected to transfer in connection with the sale.
The transaction is expected to close in the third quarter of 2017, subject to customary closing conditions, regulatory approvals and consultation or information requirements with relevant works councils.