Posted January 4, 2011
3M buys Nida-Core
3M has acquired Nida-Core Corp., a manufacturer of structural honeycomb core and fiber-reinforced foam core materials based in Port St. Lucie, Fla.
Terms of the transaction were not disclosed.
Nida-Core's broad portfolio of high-strength, low-weight, engineered materials, provides solutions in general industrial markets, including transportation, marine and renewable energy. Offerings include a variety of structural honeycomb-cored and foam-cored products in either pre-cut or standard sizes, closed-molding cores including NidaFusion, composite panels, kiln-dried end-grain balsa, as well as a variety of curing compounds and accessories common to the composites market.
"The acquisition of Nida-Core will allow us to build immediately upon our composite and engineered materials product portfolio," said Patrick Deconinck, vice president and general manager, Industrial Adhesives and Tapes Division (IATD).
"Combining with 3M gives Nida-Core immediate access to 3M's vast and global network," said Damien Jacquinet, founder and president, Nida-Core. "I am personally very excited by the potential future growth of Nida-Core within 3M, and have committed to stay onboard to participate in the business."
Nida-Core employs approximately 25 people. The acquisition agreement also provides for the acquisition by 3M of the business of Structiso SARL, a company affiliated with Nida-Core. Structiso is located in Aniche, France.
