3M Acquires Polaroid Technical Polarizer and Display Films Business
Source: 3M
3Mo concentrate on its core imaging business, Polaroid Corp. (Cambridge, MA) has sold its technical polarizer and display films business to the Optical Systems Division of <%=company%> (St. Paul, MN). Financial terms were not disclosed.
The sale includes the acquisition or licensing of Polaroid patented technologies related to this business. According to 3M division vice president Andrew Wong, the purchase includes Polaroid's polarizer (circular, h-type and k-type), plastic display, and certain display-viewing-enhancement film technologies. "We will continue to supply polarizing material to current customers, as well as to Polaroid for its finished sunglass, sunglass lens and sheet business," Wong said.
The business will continue to operate at its current site in Norwood, MA. A significant majority of the 85 employees will be offered positions with 3M.
Edited by Kristin Lewotsky