3M announced that they made the decision to close its Parking Access and Revenue Control business. former Federal APD. 3M acquired Federal APD in September 2012. Unfortunately the parking department didn’t meet the company’s expectations. The company will honor and commit to any existing contractual obligations and warranties. People who worked in the Parking Division will be offered opportunities to transition to other divisions within the company.
Aaron Mills, Sr. Product Marketer - Parking Systems, sent us the following:
- 3M has announced that it will transition out of its global Parking Access and Revenue Control business (formerly known as Federal APD).
- This decision is a result of 3M’s ongoing strategic portfolio management.
- 3M’s Traffic Safety business, which offers a wide range of high-quality solutions to customers worldwide, will focus investments in its more differentiated core product lines and will exit the
- Parking business, which has not met 3M’s overall business expectations.
- The company is committed to fulfilling all existing contractual obligations and product warranties for its Parking products and to assisting customers and VARs (Value Added Resellers) in the upcoming transition.
- This decision does not impact any of 3M’s other product lines.