According to an article in CNN Money online, 3M Corp has agreed to acquire Abzil Industria e Comercio Ltda, a Brazil-based manufacturer of orthodontic products. Financial terms were not disclosed.
"Abzil’s strong brand and product portfolio complement our full line of orthodontic solutions and will allow us to better serve customers in
"We see strong technical and sales synergies as well as manufacturing opportunities with Abzil," added Luigi Faltoni, managing director of 3M
Abzil, which was founded in 1992, employs about 300 people at its operations in Sao Jose do Rio Preto,
3M said the acquisition will expand the range of orthodontic products that the company will offer in Brazil. 3M’s orthodontics division, 3M Unitek, delivers more than 14,000 orthodontic products worldwide.
The takeover is expected to close in the fourth quarter. Customary closing conditions are pending.