The announcement came on Oct. 1, and terms of the transaction, which will take place in the fourth quarter, were not disclosed.
Established in 1973, Ross Reels has become one of top fly reel manufacturers in the U.S. and has a full line of fly-fishing products including fly rods, complete fly-fishing outfits, reel outfits, and rod cases.
“The addition of Ross Reels builds on 3M’s core fly-fishing portfolio and further expands the business,” Gabi Sabongi, vice president of 3M’s new business ventures, said in a press release. “The combination of the well-recognized Ross Reels brand products with 3M's Scientific Anglers branded fly-fishing lines, reels, rods and accessories will allow 3M to better serve consumers and retailers in North America.”
3M’s angling scientists and design team work in partnership with fly-fishing legends to develop cutting-edge technologies and ultimate fly line designs to modernize the sport.
Throughout its 60-year history in this market, 3M has been designing premier fly-fishing
products – from the contemporary floating fly line more than 50 years ago to the specialty core construction and patented Sharkskin technologies.
Ross Reels employs approximately 25 people at its operations in Montrose.
“This move expands the 3M presence in Montrose,” Head said. In February of 2006, 3M purchased General Industrial Diamond Company, Inc., a leading manufacturer of super-abrasive grinding wheels, dressing tools and machines used to dimension and finish hard-to-grind materials in industrial and commercial markets.
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M’s core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs.
With $23 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 65 countries.