3M Co. (MMM) said that it has completed the sale of substantially all of its Communication Markets Division to Corning Inc., for about $870 mln, before closing and other adjustments.
The business includes 3M's optical and copper passive connectivity solutions for the telecommunications industry, including 3M's xDSL, FTTx, and structured cabling solutions.
The sale of the telecommunications system integration services portion of the business based in Hannover, Germany, remains pending and is expected to be completed by the end of 2018 for approximately $30 million.
Total annual global sales of the business are about $400 million.
3M expects to realize a full-year 2018 earnings benefit of $0.40 to $0.45 per share from this transaction, net of actions related to the divestiture.
For comments and feedback contact: editorial@rttnews.com
Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.