3M (NYSE:MMM) announced today that it has increased its global manufacturing capacity of its Optically Clear Adhesives (OCAs) at multiple locations throughout Asia.
The increased capacity, at plants in Korea, Taiwan, China, and Singapore, support the growth of consumer electronic devices such as smart phones, tablets, touch displays and e-readers.
3M’s OCAs are used in most of today’s most popular mobile devices for enhancing the user’s view, aesthetics, and appearance. The product is a highly specialized adhesive that offers excellent clarity by eliminating yellowing that can occur to various types of substrates.
Tony DeRose, business unit manager at 3M said, “3M recognizes the ongoing market trend of explosive growth and exceptional demand for consumer electronics devices. Investing in our manufacturing capacity enables us to stay ahead of demand and continue to serve our customers most effectively. As a result, 3M is well positioned to meet such customer demands, while maintaining the exceptional quality for which 3M OCAs are recognized by our customers and their supply chain partners.”
3M is trading up 2.51% to $91.21 per share.
Post time: Jan-22-2017