3M Concludes Sale Of LEAP III Brand To DAC Technologies

(RTTNews) - Manufacturer of industrial products and solutions 3M Co. (MMM) on Monday announced that it has completed the sale of the LEAP III brand to DAC technologies. The financial details of the transaction were not divulged.

As part of the sale agreement, both companies have entered into an exclusive supply agreement where 3M will supply base component material from which LEAP III pads are made to DAC technologies.

LEAP III pads are blocking pads that are used to edge lenses in the finishing department of optical wholesale labs and optical retailers.

The acquisition was closed on October 30.

Currently, 3M shares are trading at $92.33, down 0.51% on the New York Stock Exchange.