3M announced today that it has completed its acquisition of Ceradyne, Inc. effective as of November 28, 2012, pursuant to the previously announced merger agreement among Ceradyne, 3M, and 3M’s wholly owned subsidiary, Cyborg Acquisition Corporation, through the merger of Cyborg Acquisition Corporation with and into Ceradyne. As a result of the merger, Ceradyne is now a wholly owned subsidiary of 3M.
The combination of Ceradyne and 3M will enable new technologies and innovation for uniquely tailored materials requiring advanced ceramics. Ceradyne will join the 3M Advanced Materials Division within 3M’s Industrial Business Group. The 3M Advanced Materials Division provides valued materials for lightweight solutions and materials for performance in harsh environments to customers in a broad array of growth industries.
About Ceradyne, Inc.
Founded in 1967, Ceradyne has diversified its product lines to capture opportunities created by the growing demand for better materials performance. Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, energy, automotive/diesel and commercial applications.
About 3M
3M captures the spark of new ideas and transforms them into thousands of ingenious products. Our culture of creative collaboration inspires a never-ending stream of powerful technologies that make life better. 3M is the innovation company that never stops inventing. With $30 billion in sales, 3M employs 84,000 people worldwide and has operations in more than 65 countries.
Source: http://www.3m.com