3M Company announced a definitive agreement to acquire the tape-related assets of Alpha Beta Enterprise Company Ltd., a manufacturer of box sealing tape and masking tape based in Taipei, Taiwan.
3M said Alpha Beta has steadily expanded its market reach, and “is recognized around the world as one of the leading manufacturers of general-purpose box sealing and masking tapes.” The business employs approximately 290 people, with headquarters in Taipei and manufacturing operations in Kuan-Yin.
The transaction is expected to be completed in the first quarter 2011, subject to customary closing conditions and regulatory approvals. Upon completion of the transaction, the Alpha Beta Tape Business will become a part of the 3M Industrial Adhesives and Tapes Division’s Global Tapes and Adhesives (GTA) business unit.
Patrick Deconinck, vice president and general manager, 3M Industrial Adhesives and Tapes Division, said the acquisition “further demonstrates our commitment as a leader in pressure-sensitive tapes.” George Chao, managing director, 3M Taiwan, said the deal expands the company’s manufacturing footprint in Asia-Pacific region and its high-volume masking and packaging-tapes product line.