America News: 3M to sell priority control and traffic detection businesses

3M has entered into a definitive agreement to sell its Opticom Priority Control Systems and Canoga Traffic Detection businesses, which are part of the Traffic Safety Systems Division, to Toronto-based investment company, TorQuest Partners.

TorQuest will create a new company headquartered in the Twin Cities under the leadership of Rick Sachse, formerly manager of these 3M businesses.

Opticom’s priority control system provides green light priority to emergency vehicles and enhances delivery of public transit services. Canoga’s traffic detection supports advanced traffic management with vehicle detection and monitoring technology.

According to TorQuest principal Bogdan Cenanovic, the products will continue to be sold under the Opticom and Canoga brands.

The transaction is expected to close in the second quarter, subject to customary closing conditions.

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