Acquisition in France

The American 3M group of companies is acquiring the do-it-yourself and professional business of the French GPI Group. GPI produces and markets DIY store products such as tapes, hooks, insulation and floor protection lines. These products, which are available in France and other European markets under the GPI, Plasto and Dinac brand names, are expected to complement 3M’s core and supplementary assortment in the building and home improvement segment. The acquisition is to be completed in the fourth quarter. GPI belongs to the Gergonne Group, which was founded in 1962. Its industrial business will not be affected by the sale.