Combi offers individual case erectors, case sealers, case packers, tray formers, ergonomic hand packing stations, robotic technologies, fully integrated packaging lines and palletising
3M Center in Maplewood, Minnesota. (Credit: 3M)
American conglomerate 3M has divested its 50% equity stake in Ohio-based Combi Packaging Systems to SIAT Group, a provider of case taping technology, for an undisclosed sum.
Combi is a producer and distributor of end-of-line packaging machinery and spare parts.
It offers individual case erectors, case sealers, case packers, tray formers, ergonomic hand packing stations, robotic technologies, fully integrated packaging lines, and palletising.
The packaging firm operates a 165,000ft2 facility in North Canton, Ohio. It employs more than 160 people.
Additionally, Combi serves as the exclusive warehouse, engineering, and logistics hub of 3M-Matic case sealers and spare parts in North America.
The firm was established as a joint venture between SIAT Group and 3M Corporation about 22 years ago.
Combi is now a wholly owned entity of SIAT to support its potential strategic growth.
Alongside the transaction, 3M will keep selling its 3M-Matic line of goods.
The American conglomerate has retained ownership of the 3M-Matic brand, technologies, and portfolio, which will be distributed globally through authorised channels.
The Industrial Packaging division of 3M will focus more on developing next-generation packaging solutions.
It will use its more than 50 years of experience and case-sealing technology to satisfy changing consumer demands.
The financial results of 3M will not be materially impacted by the sale.
Italy-based SIAT is an H.I.G. Capital portfolio company. It provides case taping machinery, wrapping machinery, and strapping equipment.
Combi Packaging Solutions president and CEO Gary Starks said: “This is an exciting evolution for us.
“We will continue to provide world-class, value-added service, engineering, and support for 3M’s end-of-line 3M-Matic packaging solutions.
“This evolution will allow Combi to expand its range of end-of-line packaging solutions to include SIAT’s market-leading wrapping and strapping load containment solutions in North America.”