3M announced today that it has completed its acquisition of the assets and liabilities associated with Polypore’s Separations Media business from Polypore International Inc. for a purchase price of $1.0 billion.

Polypore’s Separations Media business is a leading provider of membranes and modules for blood treatments, ultrafiltration and gas transfer in the life science, electronic, industrial, and specialty segments. 3M is a leader in residential water, commercial foodservice, industrial and life science filtration. Adding Polypore’s Separations Media business builds on 3M’s fundamental strengths in technology, manufacturing, global capabilities, and brand. Polypore’s Separations Media business has annual global sales of approximately $210 million.

With this acquisition, 3M will be able to offer a broader array of products to customers, which will help meet customers’ emerging needs for high-value filtration solutions and accelerate the global growth of 3M’s membrane business. Polypore’s Separations Media business will become part of the 3M Membranes business unit within 3M’s Industrial Business Group.

On a GAAP reported basis, 3M estimates the Polypore Separations Media acquisition to be $0.03 per share dilutive to 2015 earnings.

3M updated its 2015 earnings guidance to include the estimated impacts from the recently closed acquisitions of Capital Safety and Polypore’s Separations Media business. The company’s previous guidance excluded the estimated impacts from these pending transactions at that time.

Including these transactions, 3M now expects full-year 2015 GAAP earnings per share to be in the range of $7.73 to $7.93 versus its previous guidance of $7.80 to $8.00. The $0.07 per share adjustment will largely be incurred in the third quarter.

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