Diversified global technology company 3M today said that it would acquire Thai-owned Neoplast Co Ltd., for an undisclosed amount. Neoplast manufactures and distributes 5,000 items for domestic and export markets including first aid bandages, medical tapes, hydrogel plaster and tapes for the sport market across the Asia Pacific region.

Neoplast Co., Ltd is certified for GMP from the Thai Ministry of Public Health and TGA from Australia , ISO9001:2000, ISO13485:2003, and Directive 93/42/EEC Annex V (CEMark).

"This acquisition expands our global manufacturing capabilities and allows us to better address emerging needs in this market," said Chuck Kummeth, division vice president, 3M medical division.

"Neoplast complements 3M's well-known line of skin and wound care products and broadens our offering in Southeast Asia," added Paul Acito, managing director, 3M Thailand.

Neoplast exports account for the majority of its sales serving clients in the field of wound-care. "The combination of 3M and Neoplast will help to expand the business beyond the current customer base," said Sawat Donsagul, managing director, Neoplast Company Ltd.

Complementary acquisitions such as this support 3M's core business. 3M's extensive line of trusted products is intended to simplify and improve skin health and the treatment of wounds, both acute and chronic. These products provide cost-effective solutions and are supported by educational services, professional and technical support, as well as ongoing research and development.

Neoplast employs approximately 700 people. The transaction is expected to close in the third quarter, subject to customary closing conditions.