3M (St. Paul, MN) will acquire substantial assets of PSI Telecom (Burbank, CA), a manufacturer of

3M (St. Paul, MN) will acquire substantial assets of PSI Telecom (Burbank, CA), a manufacturer of closures, connectors, and terminating products used in the telecommunications industry. Terms of the agreement were not disclosed. 3M will assume ownership of PSI Telecom manufacturing operations in Pamplona, Spain, through a new subsidiary called Access Products SA. All functions based at PSI`s Burbank headquarters will be relocated to Austin, TX, the headquarters of 3M`s Telecom Systems Div.