3M announced today that it has entered into an agreement to acquire Sweden’s Hornell International, a supplier of personal protective equipment for welding applications, for approximately $100 million in cash. The transaction includes the assumption of debt and is subject to regulatory approval.
‘Combining Hornell’s strong products and technology for eye, face and respiratory protection in welding applications with our full spectrum of health and safety products enhances our business and will accelerate 3M’s growth in the global safety market,’ said Mike Kelly, division vice president, Occupational Health and Environmental Safety Division.
According to a statement, Hornell’s Speedglas auto-darkening welding helmets and Adflo respiratory protection equipment will broaden 3M’s access to a fast-growing segment in the welding industry.
Similarly, 3M expects Hornell’s products and technology to complement its line of personal protective equipment which includes respirators; hearing protection; head, eye and face protection; as well as reflective materials for clothing, and thermal and acoustical insulation.
Commenting on the transaction, Krister Larnmark, president and CEO, Hornell, said, ‘Teaming up with 3M gives us an excellent opportunity to expand our business into new markets and geographies by leveraging 3M’s extensive global network, market diversity and technical leadership.’