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3M acquires Japan JV

6:51 AM MDT | July 18, 2014

3M says that it will acquire Sumitomo Electronic’s 25% stake in Japanese subsidiary Sumitomo 3M for ¥90 billion ($885 million). Upon completing the transaction, 3M will own 100% of the joint venture and rename it 3M Japan. The transaction is expected to close on 1 September. Sumitomo 3M was established in 1961 as a jv among 3M, Sumitomo Electric Industries, and...

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