3M Co. has agreed to buy Spontex,...

3M Co. has agreed to buy Spontex, a French supplier of household and commercial cleaning products, from Paris-based Chargeurs SA for about 1.1 billion French francs, or $182 million. The cash purchase is expected to be completed in November. Founded in 1932, Spontex has 1,650 employees in France, Belgium, Italy, the Netherlands, Spain, Britain, West Germany, Australia, Argentina and the United States. Its products are sold in 70 other countries through distributors. Spontex’s worldwide sales are around $166 million a year.