3M selling static control business based in Sanford

3M announced Monday that it is selling its Static Control business, which has manufacturing operations in Sanford, to Desco Industries.

Terms of the sale weren’t disclosed. The business employs 175 people in Sanford – 125 3M employees and 50 contractors – and has annual global sales of about $45 million. St. Paul, Minn.-based 3M has annual sales of $31 billion.

3M said in a news release that “substantially all” of those employees are expected to transfer over to Desco, a privately held company based in Chino, Calif. The transaction is expected to be completed in the first quarter of next year.

3M, which makes Post-It Notes and Scotch tape, acquired the Static Control business in 2006 when it bought SCC Products and JJ Converting – two companies that developed from the operations of Static Control Components.

SCC, which makes packaging for electronics, was originally a division of Static Control, but was later broken off into a sister company. JJ Converting operates independently and supplied raw materials to SCC Products.

This story was originally published December 15, 2014 at 10:50 AM with the headline "3M selling static control business based in Sanford."