THE £40.2m acquisition of a specialist coatings firm in North Yorkshire has been completed.
Technology group 3M has bought Northallerton-based E Wood Holdings plc, a manufacturer of high-performance coatings used in the oil, gas, water, rail and automotive industries.
The acquisition is expected to bring with it growth and job creation for E Wood, which already employs about 150 staff at its offices in Standard Way.
E Wood managing director Chris McDonnell said: "This is great news for us. 3M is a highly respected global company and this acquisition underlines the market confidence in our successful product range."
E Wood first released details of the acquisition last month, on the same day it posted record sales and profit figures.
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