3M To Sell Rights To Neoplast, Neobun Brands In Thailand And Other Southeast Asia Countries

(RTTNews) - 3M (MMM) agreed to sell its rights to the Neoplast and Neobun brands and related assets in Thailand and certain other Southeast Asia countries, including the manufacturing assets of its Ladlumkaew, Thailand, facility to Selic Corp Public Company Limited (Selic), a company focusing on bonding innovation serving various industries.

Neoplast and Neobun products, sold primarily in Thailand and Southeast Asia, are part of the Skin Health & Wellness business in 3M's Consumer Health & Safety Division. The portfolios include sports and medical tapes, bandages and medicated products for the consumer and health care industry.

As part of ongoing strategic portfolio management, 3M has decided to exit these brands and prioritize other areas within its Consumer Health & Safety Division.

The sale is expected to be completed in the fourth quarter of 2022.