Green light for 3M sale
3M has entered into an agreement to sell its Opticom Priority Control Systems and Canoga Traffic Detection businesses, which are part of the Traffic Safety Systems Division, to TorQuest Partners.
has entered into an agreement to sell its Opticom Priority Control Systems and Canoga Traffic Detection businesses, which are part of the Traffic Safety Systems Division, to Toronto-based
.
TorQuest will create a new company that will be headquartered in the Twin Cities under the leadership of Rick Sachse, formerly manager of these 3M businesses.
According to 3M, the Opticom priority control system provides green light priority to emergency vehicles for improved response times, and enhances delivery of public transit services. Canoga traffic detection supports advanced traffic management with vehicle detection and monitoring technology.
3M employs approximately 30 people in these businesses in the US and Canada. The transaction is expected to close in the second quarter, subject to customary closing conditions.
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