ST. PAUL, Minn., June 30, 2022 /PRNewswire/ — 3M (NYSE:MMM) has entered into an agreement to sell its rights to the Neoplast™ and Neobun™ brands and related assets in Thailand and certain other Southeast Asia countries, including the manufacturing assets of its Ladlumkaew, Thailandfacility to Selic Corp Public Company Limited (Selic), a company focusing on bonding innovation serving various industries.
Neoplast and Neobun products, sold primarily in Thailand and Southeast Asiaare part of the Skin Health & Wellness business in 3M’s Consumer Health & Safety Division. The portfolios include sports and medical tapes, bandages and medicated products for the consumer and health care industry.
As part of ongoing strategic portfolio management, 3M has decided to exit these brands and prioritize other areas within 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,” said Megan SelbyPresident, 3M CHSD. “We will continue to invest in health and…