3M Co. sold its static control business, which generates about $45 million in annual sales, to Desco Industries Inc. of Chino, Calif., the firms said Monday.
Terms weren't disclosed.
The business employs about 150 people, and most are expected to transfer to Desco. 3M has one manufacturing plant, in Sanford, N.C., for static control products.
Such products are used chiefly in chipmaking and other sectors of electronics manufacturing, where uncontrolled transfers of electricity can short out components and finished goods during assembly.
Desco also provides static controls and other products for electronics producers and operates seven factories in the U.S. and U.K.
3M said the deal is expected to close in the first quarter of 2015, subject to the completion of Desco's financing.
Maplewood-based 3M said the decision to sell the business came after a review of its portfolio of products and services.
Evan Ramstad • 612-673-4241
