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3M sells LEAP III brand to DAC Technologies

3M sells LEAP III brand to DAC Technologies

For years, 3M’s optical lens processing products have been recognized by optical labs worldwide as a benchmark for quality and performance. LEAP III edging pads offer premium slip resistance, keeping lenses firmly in place during edging.

As part of the sale of the LEAP III brand, 3M and DAC Technologies have entered into an exclusive supply agreement for 3M to supply DAC Technologies with the base component material from which LEAP III pads are made.

“DAC Technologies is a leader in the ophthalmic products space and is the right company to continue the legacy of the LEAP III brand,” said Matt Berdahl, 3M optical products global business leader. “DAC Technologies’ knowledge of and focus on the ophthalmic market and its customers will allow the LEAP III brand to thrive and reach its potential in the market.”

With over 40 years of experience converting blocking pads at their factory outside Dallas,  complimented by a network of strategically located warehouses and distributors throughout the world – DAC Technologies is ideally positioned to serve customers globally through local distribution channels.

“We are grateful for the strong partnership with 3M that we have enjoyed over many years and are excited to open the next chapter for both DAC and the LEAP III brand,” said Will Daniels, President & CEO of DAC Technologies. “LEAP has long been the gold standard in edging pads, and we are committed to maintaining the same level of quality and performance that optical professionals all over the world count on every day.”

The sale will not have a material impact on 3M’s financial results.

Forward-Looking Statements
This news release contains forward-looking information about 3M’s financial results and estimates and business prospects that involve substantial risks and uncertainties. You can identify these statements by the use of words such as “anticipate, “estimate,” “expect,” “aim,” “project,” “intend,” “plan,” “believe,” “will,” “should,” “could,” “target,” “forecast” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance or business plans or prospects. Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, regulatory, international trade, geopolitical, capital markets and other external conditions and other factors beyond the Company’s control, including inflation, recession, military conflicts, natural and other disasters or climate change affecting the operations of the Company or its customers and suppliers; (2) risks related to unexpected events such as the public health crises associated with the coronavirus (COVID-19) global pandemic; (3) foreign currency exchange rates and fluctuations in those rates; (4) risks related to certain fluorochemicals, including liabilities related to claims, lawsuits, and government regulatory proceedings concerning various PFAS-related products and chemistries, as well as risks related to the Company’s plans to exit PFAS manufacturing and discontinue use of PFAS across its product portfolio;  (5) risks related to the proposed class-action settlement to resolve claims by public water systems in the United States regarding PFAS; (6) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company’s Annual Report on Form 10-K for the year ended Dec. 31, 2022 and any subsequent quarterly reports on Form 10-Q (the “Reports”); (7) competitive conditions and customer preferences; (8) the timing and market acceptance of new product and service offerings; (9) the availability and cost of purchased components, compounds, raw materials and energy due to shortages, increased demand and wages,  supply chain interruptions, or natural or other disasters; (10) unanticipated problems or delays with the phased implementation of a global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company’s information technology infrastructure; (11) the impact of acquisitions, strategic alliances, divestitures, and other strategic events resulting from portfolio management actions and other evolving business strategies; (12) operational execution, including the extent to which the Company can realize the benefits of planned productivity improvements, as well as the impact of organizational restructuring activities; (13) financial market risks that may affect the Company’s funding obligations under defined benefit pension and postretirement plans; (14) the Company’s credit ratings and its cost of capital; (15) tax-related external conditions, including changes in tax rates, laws or regulations; (16) matters relating to the proposed spin-off of the Company’s Health Care business; and (17) matters relating to Combat Arms Earplugs (“CAE”), including those relating to the voluntary chapter 11 proceedings of the Company’s subsidiary Aearo Technologies and certain of its affiliates (“Aearo Entities”), as well as those related to the August 2023 settlement that is intended to resolve all litigation and alleged claims involving the CAE sold or manufactured by the Aearo Entities and/or the Company. Changes in such assumptions or factors could produce significantly different results. A further description of these factors is located in the Reports under “Cautionary Note Concerning Factors That May Affect Future Results” and “Risk Factors” in Part I, Items 1 and 1A (Annual Report) and in Part I, Item 2 and Part II, Item 1A (Quarterly Reports). The Company assumes no obligation to update any forward-looking statements discussed herein as a result of new information or future events or developments.

About 3M

3M (NYSE: MMM) believes science helps create a brighter world for everyone. By unlocking the power of people, ideas and science to reimagine what’s possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. Learn how we’re working to improve lives and make what’s next at 3M.com/news.

Please note that the company announces material financial, business and operational information using the 3M investor relations website, SEC filings, press releases, public conference calls and webcasts. The company also uses the 3M News Center and social media to communicate with our customers and the public about the company, products and services and other matters. It is possible that the information 3M posts on the News Center and social media could be deemed to be material information. Therefore, the company encourages investors, the media and others interested in 3M to review the information posted on 3M’s news center and social media channels.

SOURCE 3M Company

Originally published at https://www.prnewswire.com/news-releases/3m-sells-leap-iii-brand-to-dac-technologies-301983475.html
Images courtesy of https://pixabay.com

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