MMM News & Events

3M announced that it has entered into a definitive agreement to acquire Madison Fire & Rescue, in partnership with Bain Capital. 3M and Bain Capital will establish a new joint venture in which 3M will contribute Scott Safety, receive $700M of cash proceeds upon closing and own 50.1% of the new company with Bain Capital owning 49.9%. Under the terms of the transaction 3M and Bain Capital will acquire Madison Fire & Rescue from Madison Industries for $1.95B. The transaction is expected to close in the second half of 2026, subject to customary closing conditions.

3M announced a major planned expansion of U.S. manufacturing capacity for its 3M Expanded Beam Optical interconnect technology, a high-performance optical connectivity solution engineered to improve deployment speed, reliability, and operational efficiency within next-generation AI data centers. The expansion will include adding new advanced manufacturing equipment and additional production space to support increasing global demand for high-speed interconnects in AI data centers, 3M said. "Key customers understand the benefits of our EBO technology, and with infrastructure scaling at an unprecedented pace, data center customers need optical connectivity solutions that can deploy quickly and operate reliably at massive scale," said Alex An, vice president, Data Center Vertical Business for 3M.

3M (MMM) announced the election of Neil Mitchill, Jr. to 3M's Board of Directors, effective Feb. 6. Mitchill also has been appointed as a member of the Audit Committee and the Nominating and Governance Committee of the Board. Mitchill is the Executive Vice President and CFO, RTX Corporation (RTX). Holding this position since 2021, his responsibilities span financial reporting and controls, planning and analysis, investor relations, internal audit, tax and treasury.

3M files automatic mixed securities shelf