3M acquires LeanTec technology, advancing inventory management and digital solutions for auto body shops

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Technologies improvements ‘connected bodyshop’ and presents shop entrepreneurs and managers more accessibility to information for increased efficiency

ST. PAUL, Minn., April 25, 2022 /PRNewswire/ — 3M (NYSE: MMM) right now announced that it has acquired the technologies property of LeanTec, a provider of digital inventory management solutions for the automotive aftermarket section in the United States and Canada.

The acquisition demonstrates 3M’s dedication to its “related bodyshop,” 1 of 3M’s lively electronic platforms that integrates information seize and examination with substance product platforms, capitalizing on emerging requirements and traits.

“Organizations across industries are hunting for impressive strategies to harness the electrical power of digital transformation – and overall body shop owners are no exception,” mentioned Dave Gunderson, president, 3M Automotive Aftermarket Division. “This acquisition adds new ranges of facts integration and insights that will enable system outlets bigger visibility of their organization operations, operational effectiveness, and a improved customer practical experience.”

The LeanTec technological know-how enhances 3M™ RepairStack™ Overall performance Options, a components and software system that aids make sure products required for harmless and reliable repairs are accessible on hand, streamlines the blueprinting and billing system, and gives real-time insight into business enterprise efficiency.

3M uses the time period “related bodyshop” to describe a new stage of digital equipment and connectivity that help and streamline shop functions, capitalizing on information analytics, predictive equipment, integration and automation. And as automobiles develop into much more advanced owing to use of sensors and electronic features, human body stores want to hold tempo with this digitization to successfully services the next generations of autos.

The acquisition will advance 3M’s capability to deliver a extra connected, electronic bodyshop option through its 3M RepairStack Performance Alternatives in 3 critical ways:

  • The universal, model-agnostic inventory management method helps professionals monitor and arrange resources for mend orders though automating re-purchase from distributors.
  • It provides increased efficiency analytics, including true-time snapshots of store effectiveness and metrics tracking that would usually be missed on the store floor.
  • It assures products is logged and use is captured in alignment with offered maintenance techniques for much more integrated maintenance order invoicing.

3M carries on to aggressively prioritize investments that leverage the main strengths of 3M to make price for shoppers and shareholders. This contains locations with sturdy need that align global developments advantaged by 3M science and innovation, and in setting up for the foreseeable future, building new platforms to entry emerging traits and opportunities, such as the related bodyshop.

Ahead-Looking Statements

This press launch includes forward-searching info about 3M’s economical final results and estimates and business prospective customers that require sizeable risks and uncertainties. You can detect these statements by the use of terms these types of as “foresee,” “estimate,” “assume,” “purpose,” “task,” “intend,” “strategy,” “imagine,” “will,” “must,” “could,” “goal,” “forecast” and other words and phrases of comparable indicating in relationship with any discussion of foreseeable future operating or economic performance or company designs or potential customers.  Amid the factors that could result in real outcomes to differ materially are the subsequent: (1) around the globe financial, political, regulatory, global trade and other exterior circumstances and other things over and above the Firm’s command, which includes purely natural and other disasters or local weather improve affecting the functions of the Enterprise or its shoppers and suppliers (2) dangers similar to general public health and fitness crises these kinds of as the global pandemic linked with the coronavirus (COVID-19) (3) foreign currency exchange rates and fluctuations in people fees (4) liabilities related to specified fluorochemicals, including lawsuits relating to many PFAS-related products and solutions and chemistries, and claims and governmental regulatory proceedings and inquiries related to PFAS in a selection of jurisdictions (5) authorized proceedings, like sizeable developments that could happen in the lawful and regulatory proceedings described in the Firm’s Once-a-year Report on Form 10-K for the year ended Dec. 31, 2021, and any subsequent quarterly reviews on Form 10-Q (the “Studies”) (6) aggressive disorders and shopper choices (7) the timing and sector acceptance of new merchandise choices (8) the availability and cost of ordered components, compounds, raw products, strength (together with oil and purely natural gasoline and their derivatives) and labor owing to shortages, enhanced need and wages, logistics, supply chain interruptions or manufacturing internet site disruption (together with these brought about by normal and other disasters and other situations this sort of as authorities actions) (9) unanticipated issues or delays with the phased implementation of a world wide organization resource scheduling (ERP) system, or protection breaches and other disruptions to the Firm’s facts know-how infrastructure (10) the effect of acquisitions, strategic alliances, divestitures and other unconventional occasions ensuing from portfolio administration actions and other evolving organization methods, and doable organizational restructuring (11) operational execution, which includes scenarios the place the Corporation generates fewer productiveness enhancements than believed (12) economical market place threats that may well affect the Company’s funding obligations underneath outlined profit pension and postretirement plans (13) the Company’s credit score rankings and its expense of cash and (14) tax-associated external problems, together with modifications in tax prices, regulations or polices. Modifications in this kind of assumptions or aspects could generate significantly distinct success. A further description of these elements is found in the Experiences underneath “Cautionary Observe Relating to Elements That May Have an affect on Upcoming Final results” and “Risk Elements” in Portion I, Things 1 and 1A (Annual Report) and in Aspect I, Product 2 and Part II, Product 1A (Quarterly Reports), as current by relevant Existing Reports on Form 8-K. The information and facts contained in this press launch is as of the day indicated. The Enterprise assumes no obligation to update any ahead-searching statements contained in this push launch as a final result of new data or long run gatherings or developments.

About 3M
At 3M, we apply science in collaborative ways to make improvements to lives day by day as our staff join with shoppers all about the planet. Master extra about 3M’s imaginative alternatives to global troubles at www.3M.com or on Twitter @3M or @3MNews.

3M Media Get in touch with:
Jennifer Ehrlich, +1 651-592-0132 or [email protected]

3M Investor Contacts:
Bruce Jermeland, 651-733-1807
Diane Farrow, 612-202-2449

 

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