3M casts off fly-fishing businesses - Bring Me The News

3M casts off fly-fishing businesses

Author:
Updated:
Original:

A pair of fly-fishing business owned by Minnesota-based 3M Co. are casting their lines in Vermont.

The Star Tribune reports that the Orvis Company out of Manchester, Vt., is in the process of buying Scientific Anglers and Ross Reels from 3M. The deal is expected to be completed sometime in the second quarter.

Founded in 1973, Ross Reels was acquired by 3M in 2010 to complement the company's Scientific Anglers line of fly-fishing product.

The Star Tribune says 3M used its chemists and other scientists to develop new fly lines that were easier to cast, floated higher in the water and dried more quickly.

Not a lot is expected to change in the operation of either company. According to a press release announcing the pending sale, "both businesses will maintain their current operations, facilities, employees and independent sales representation."

Scientific Anglers is based in Midland, Mich., while Ross Reels' headquarters are in Montrose, Colo.

Next Up

Related

3M CEO backs off growth projections

3M's Chief Executive Officer is revising the projections for annual sales growth set by his predecesor. Bloomberg reports 3M's new goal is to increase revenue four to six percent a year at existing businesses, a reduction from the seven to eight percent sought by the previous CEO.

Fly fishing authority James Humphrey dies at age 91

James Humphrey had a fly-fishing cast that was breathtaking. His knowledge of Upper Midwestern trout streams was equally impressive. In some circles, the two editions of Humphrey's book "Trout Streams of Wisconsin and Minnesota" are known as the old and new testament.