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Monday A.M. Report

3M buying insulation maker MTI PolyFab, Olson wins Minnesota Lottery account, Wells Fargo wants to hire 10,000 wealth advisers, and Life Time breaks its own spin class record.

3M buying insulation maker MTI PolyFab: 3M Co. is buying MTI PolyFab, a maker of thermal and acoustic insulation for the aerospace industry. MTI PolyFab has about 130 employees. Its head office and Canadian manufacturing operations are located in Mississauga, Ontario, with international manufacturing operations located in Bremen, Germany, and a contract manufacturer venture in Ensenada, Mexico. Read full story


Olson wins Minnesota Lottery account: Olson, a Minneapolis advertising agency, has won the Minnesota Lottery account, according to a Finance & Commerce news report. The deal is worth $7 million. The Lottery’s deal with Olson still requires an official approval. Read full story

Wells Fargo wants to hire 10,000 wealth advisers: Wells Fargo & Co. reportedly wants to drastically expand the number of wealth managers working in its branches. David Carroll, Wells Fargo’s chief of wealth management, told Reuters that the bank would like to add 10,000 more advisers to its roster over time. Most of those people would be based in bank branches. Wells Fargo, which has major operations in Minneapolis, has about 100 branches in the Twin Cities. Read full story

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Life Time breaks its own spin class record: Life Time Fitness successfully set a new world record for the world’s largest cycling class Sunday at the Target Center. Life Time said in a press release that 1,052 people participated in the event, which was officially certified as a new Guinness World Record by Guinness Official, Kimberly Partrick, who attended the event and made the live post-event proclamation. Read full story