Sam Brusco, Associate Editor07.05.22
3M will sell the rights to its Neoplast and Neobun brands and related assets in Thailand and other Southeast Asia countries, including manufacturing assets of its Ladlumkew, Thailand facility to bonding innovation firm Selic Corp Public Company Limited.
The sale’s completion is expected in Q4 of this year.
Neoplast and Neobun products include sports and medical tapes, bandages, and medicated products for the consumer and healthcare industry. 3M has decided to exit these brands and prioritize other areas in its Consumer Health & Safety Division (CHSD).
"3M continues to relentlessly prioritize investments that leverage 3M's technologies in advanced wound care solutions under the Nexcare brand in skin health and wellness for the consumer," Megan Selby, president of 3M CHSD told the press. "We will continue to invest in health and safety for our Asia customers and those around the world."
3M previously revealed it is discontinuing manufacturing in the Ladlumkew plant and close the facility by the end of August. Selic intends to establish operations there, including employing site employees, to scale up Neoplast and Neobun production and further medical device business product development.
The sale’s completion is expected in Q4 of this year.
Neoplast and Neobun products include sports and medical tapes, bandages, and medicated products for the consumer and healthcare industry. 3M has decided to exit these brands and prioritize other areas in its Consumer Health & Safety Division (CHSD).
"3M continues to relentlessly prioritize investments that leverage 3M's technologies in advanced wound care solutions under the Nexcare brand in skin health and wellness for the consumer," Megan Selby, president of 3M CHSD told the press. "We will continue to invest in health and safety for our Asia customers and those around the world."
3M previously revealed it is discontinuing manufacturing in the Ladlumkew plant and close the facility by the end of August. Selic intends to establish operations there, including employing site employees, to scale up Neoplast and Neobun production and further medical device business product development.