November 12, 2008 -- 3M has entered into an agreement to acquire Italy's Grafoplast S.p.A., a manufacturer of wire identification systems for the wire and cable market. The acquisition broadens 3M's cable marking systems offering in Italy and Europe. Terms of the transaction were not disclosed.
"Grafoplast's range of electrical permanent marking products complements 3M's existing range of tape marking system products and will help us to better serve the wire and cable markets," comments Paul D. Steece, vice president and general manager, 3M Electrical Markets Division.
"Together, 3M and Grafoplast will offer a complete marking system solution for our customers globally," adds Paul Kim, marketing director, 3M Electrical Markets Division.
Grafoplast's products range from thermal printers and software to identification systems for special applications, cable holders and insulated end sleeves. The products serve installers, contractors and automation industries across Italy and Europe.
3M Wire Marking and Identification systems are used for marking wire and cable of all diameters, distribution panels, repair and replacement parts, wires and hoses in motorized vehicles, terminal strips, motor leads, sub-motor leads, sub-assembly leads, and control panels.
3M notes that complementary acquisitions such as this one support both its core electrical supplies business and its strategy to expand into adjacent markets and accelerate geographical growth.
"Combining with 3M will help to grow Grafoplast faster through 3M's global reach, technology platforms and extensive electrical distribution," concludes Silvano Piana, CEO, Grafoplast.