Multinational conglomerate corporation 3M has announced that it will close its North Austin manufacturing plant by the end of 2019, impacting about its 120 employees.
The company said the 220,000-square foot facility, located at 11705 Research Blvd., will be put up for sale as operations will resume at another manufacturing plant in the companys home state of Minnesota.
3M spokeswoman Lori Anderson says that the company’s decision was based on its company portfolio and consolidation efforts for some of its operations.
“This is part of 3M’s ongoing efforts to optimize our supply chain operations,” Anderson said.
3M is historically known as the creator of Scotch tape and Post-it notes. The company employs about 90,000 people globally and reported about $31 billion in revenue last year.
Most recently, 3M sold its fiber optics and communications markets division to optical products company Corning Inc. for $870 million.
3M said it will terminate jobs in intervals at the North Austin plant in 2019. The company said that those employees will be able to apply for other positions within the company.
Anderson said that the employees would be given severance packages as well as outplacement support.
3M also has a 156-acre corporate location in Northwest Austin with 500 employees where work is developed for company research, marketing, supply chain and development. In 2016, 3M made plans to sell that property and is currently renting out the space.
The company will move into Parmer Austin business park in North Austin in April.