3M (MMM) Thursday announced it has sold its fifty-percent equity stake in Combi Packaging Systems, LLC to SIAT Group, an H.I.G. Capital portfolio company and provider of case taping machinery, wrapping machinery, and strapping equipment.
The sale will not have a material impact on 3M's financial results.
Combi is a U.S.-based producer and distributor of end-of-line packaging machinery and spare parts.
The 3M-Matic brand, technologies, and portfolio are retained by 3M and will continue to be sold through approved channels worldwide.
For comments and feedback: editorial@rttnews.com