Rockland, Mass.-based Venture Tape Corp. has been purchased by 3M Corp., the manufacturer of Scotch tape, Post-it notes and numerous other consumer and commercial products.
The sale was final Oct. 1. Neither company disclosed terms.
“We see tremendous opportunities to continue to build our business by drawing on the strength of 3M’s resources and technical capabilities,” said Lew Cohen, president of Venture Tape Corp. “Our customers will continue to receive the same quality products and service Venture Tape has always provided them.”
Venture Tape manufactures tapes used in construction, oil and gas, HVAC, electronics, aerospace, marine and appliance markets. It also provides specialty industrial tapes for splicing, automotive and automotive aftermarket applications.
Founded in 1980, Venture Tape has warehouses and sales offices in the United States, Great Britain, Germany, Australia, the Netherlands and Singapore. The company will continue to operate at its Rockland manufacturing facility. It currently employs approximately 400 employees.
3M industrial adhesives and tapes division Vice President Patrick Deconinck said the addition was a good fit for the company.
“This acquisition broadens our pressure sensitive adhesive tape platform, brings new channels to 3M, and allows us to expand into adjacent markets such as construction,” said Deconinck. “Venture Tape has a strong customer-centric business model, which combined with our lean manufacturing practices, technologies and global coverage will broaden and improve our offering to customers.”
St. Paul, Minn.-based 3M had 2006 sales of $22.9 billion worldwide.
3M acquires Venture Tape
March 1, 2008