3M Invests in Florida-Based MSi
3M Company (MMM) recently invested in MSi Lighting, a Florida-based LED (Light Emitting Diode) lighting company that engineers, designs and manufactures energy-efficient, architect accurate LED replacement lighting. The terms of the deal were not disclosed.
MSi provides LED lighting solutions to various sectors such as retail, hospitality, museums and furniture. With this investment, 3M will have enhanced access to MSi's LED lighting technology, making its offerings even more competitive than other available products in the market.
3M expects to combine its expertise in optical science with MSi's expertise in energy-efficient LED lighting to develop innovative and efficient lighting solutions. As per estimates, the shift from conventional lighting systems to LED lighting over the next 20 years will lead to energy savings of $250 billion in the US alone. Apart from the cost savings, the use of LED lighting is also expected to trim down carbon emissions by over 1,800 million metric tons and reduce the electricity consumption for lighting by nearly one half. Consequently, the acquisition is expected to be accretive to 3M with a steady rise in demand for LED lights.
3M, together with its subsidiaries, operates as a diversified technology company with manufacturing operations spread over 70 countries. The company aims to deliver innovative security solutions to businesses and governments worldwide, thus ensuring the security of people and documents.
3M remains focused on inventing new products and maintaining its competitive advantage worldwide. The rise in demand for such innovative 3M product services is likely to augment its overall revenues.
3M currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look include Noble Group Ltd. (NOBGY), having a Zacks Rank #1 (Strong Buy), and Marubeni Corporation (MARUY) and Mitsubishi Corporation (MSBHY), both having a Zacks Rank #2 (Buy).
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