3M Completes Acquisition of Meguiar's Inc.

ST. PAUL, Minn. Oct. 2, 2008 - 3M announced today it has completed its acquisition of Meguiar’s Inc., the 100-year-old family business that manufactures the leading Meguiar’s brand of car care products for cleaning and protecting automotive surfaces. Terms of the transaction were not disclosed.

Meguiar’s brings its renowned products for everyone dedicated to maintaining a brilliant finish on their vehicles to 3M’s range of automotive aftermarket products. Meguiar’s products include waxes, polishes, cleaners, conditioners and protectants. Together, 3M and Meguiar’s will collaborate to deliver even more innovative high performance products for enthusiasts around the world.

3M’s Automotive Aftermarket Division provides a comprehensive line of 3M products for auto body repair professionals and auto enthusiasts. Products include abrasives and accessories, performance cleaning products, waxes, masking tapes, panel bonding adhesives, general adhesives coatings and sealers, paint finishing polishes and compounds, and paint application systems. Complementary acquisitions such as this support 3M’s growth strategy to strengthen its core businesses and expand into adjacent markets.