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COMPANY PROFILE
3M Company
REFERENCE CODE: D6CB8372-D675-490C-961D-0B1BD4485973 PUBLICATION DATE: 11 Feb 2021 www.marketline.com COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED
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3M Company TABLE OF CONTENTS
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TABLE OF CONTENTS
Company Overview ........................................................................................................ 3 Key Facts ......................................................................................................................... 3 Business Description ..................................................................................................... 4 History ............................................................................................................................. 7 Key Employees ............................................................................................................. 39 Key Employee Biographies .........................................................................................41 Major Products & Services ..........................................................................................45 SWOT Analysis ............................................................................................................. 48 Top Competitors ........................................................................................................... 52 Company View .............................................................................................................. 53 Locations And Subsidiaries ........................................................................................57
3M Company Company Overview
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Company Overview
COMPANY OVERVIEW
3M Company (3M or “the company”) is a diversified technology company that manufactures and markets a broad array of innovative products including tapes, adhesives, filteration products, transportation safety products, medical and surgical supplies, skin health and infection prevention products, dental and orthodontic products, packaging and interconnection devices, touch screen and touch monitors, home care products; and consumer and office tapes and adhesives. The company offers its products to a wide range of industries, including industrial; safety and graphics; electronics and energy; health care; and consumer. 3M distributes its products directly to users and through several wholesalers, retailers, jobbers, distributors and dealers. It operates in the Americas, Europe, Middle East, and Africa (EMEA), and Asia Pacific. The company is headquartered in Saint Paul, Minnesota, the US.
The company reported revenues of (US Dollars) US$32,136 million for the fiscal year ended December 2019 (FY2019), a decrease of 1.9% over FY2018. In FY2019, the company’s operating margin was 19.1%, compared to an operating margin of 22% in FY2018. In FY2019, the company recorded a net margin of 14.2%, compared to a net margin of 16.3% in FY2018. The company reported revenues of US$7,176 million for the second quarter ended June 2020, a decrease of 11.1% over the previous quarter.
Key Facts
KEY FACTS
Head Office 3M Company 3M Center Saint Paul Minnesota Saint Paul Minnesota USA
Phone 1 651 7331110 Fax Web Address www.3m.com Revenue / turnover (USD Mn) 32,136.0 Financial Year End December Employees 93,163 New York Stock Exchange Ticker MMM
3M Company Business Description
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Business Description
BUSINESS DESCRIPTION
3M Company (3M or “the company”) is a diversified technology company that manufactures and markets a wide range of products. The company operates in various locations, including the Americas, Europe, Middle East, and Africa (EMEA), and Asia Pacific. 3M operates 71 manufacturing facilities in 29 states in the US. The company operates 100 manufacturing and converting facilities in 35 countries outside the US.
The company operates through four business segments: Safety and Industrial; Health Care; Transportation and Electronics; and Consumer. Its Corporate and unallocated segment includes sales from transition services, contract manufacturing, and other arrangements with the acquirer of all of the Communication Markets Division.
The Safety and Industrial segment serves a range of industrial markets, including automotive original equipment manufacturer (OEM) and automotive aftermarket (auto body shops and retail); electronics; appliance; paper and printing; packaging; food and beverage; and construction. The segment offers a range of products, including tapes; a wide variety of coated and non-woven abrasives, adhesives, advanced ceramics, sealants, specialty materials, filtration products; closure systems for personal hygiene products; and acoustic systems products. It also offers components and products used in the manufacture, repair, and maintenance of automotive, marine, aircraft, and specialty vehicles. 3M also supplies precision grinding technology serving customers in the area of hard-to-grind precision applications in industrial, automotive, aircraft, and cutting tools. 3M develops and produces advanced technical ceramics for demanding applications in the automotive, oil and gas, solar, industrial, electronics and defense industries. The company also offers major industrial products, including vinyl, polyester, foil, and specialty industrial tapes and adhesives; packaging equipment; conductive, low surface energy, sealants, hot melt, spray, and structural adhesives; reclosable fasteners; label materials for durable goods; and coated, nonwoven, and microstructured surface finishing and grinding abrasives for the industrial market. The company also offers various filtration products for the separation, clarification, and purification of fluids and gases. Other products offered by 3M include fluoroelastomers for seals, tubes, and gaskets in engines. Major brands in the segment include Scotch, and 3M VHB. In FY2019, the Safety and Industrial segment reported revenues of US$11,607 million, which accounted for 34.3% of the company's total revenue.
The Health Care segment offers personal protection products, such as certain disposable and reusable respirators, fall protection equipment, personal protective equipment, head and face protection, body protection, hearing protection and protective eyewear, plus reflective materials that are widely used on apparel, footwear and accessories, enhancing visibility in low-light situations. 3M's transportation safety products reflective sheeting used on highway signs, vehicle license plates, construction work-zone devices, trucks and other vehicles, and pavement marking systems. In addition, Safety and Graphics segment also provides spill-control sorbents; nonwoven abrasive materials for floor maintenance and commercial cleaning; floor matting; and natural and color-coated mineral granules for asphalt shingles. 3M's Health Care segment serves various markets, including medical clinics and hospitals, pharmaceuticals, dental and orthodontic practitioners, health information systems, and food manufacturing and testing. The segment offers products such as medical and surgical supplies, skin health and infection prevention products, inhalation and transdermal drug delivery systems, oral care
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solutions (dental and orthodontic products), health information systems, and food safety products. In FY2019, the Health Care segment reported revenues of US$7,431 million, which accounted for 22% of the company's total revenue.
In advanced wound management, 3M supplies medical tapes, dressings, wound closure products, orthopedic casting materials, electrodes and stethoscopes. In infection prevention, the company markets a variety of surgical drapes, masks and preps, and sterilization assurance equipment. Other products include drug delivery systems such as metered-dose inhalers, transdermal skin patches, and related components. The oral care solutions offered by the company include restoratives, adhesives, finishing and polishing products, crowns, impression materials, preventive sealants, professional tooth whiteners, prophylaxis, and orthodontic appliances and digital workflow solutions to transform traditional impression and analog processes. In health information systems, 3M develops and markets computer software for hospital coding and data classification, and provides related consulting services. It also offers food safety products that make it faster and easier for food processors to test the microbiological quality of food.
The Transportation and Electronics segment serves customers in electronics and energy markets, including solutions that improve the dependability, cost-effectiveness, and performance of electronic devices; electrical products, including infrastructure protection; telecommunications networks, and power generation and distribution. 3M provides products for liquid crystal display (LCD) computer monitors; LCD televisions; hand-held devices such as cellular phones and tablets; notebook personal computers (PCs); and automotive displays. The segment also provides desktop and notebook computer screen filters that address display light control, privacy, and glare reduction needs. The segment's major electronics products also include packaging and interconnection devices; high performance fluids and abrasives used in the manufacture of computer chips, and for cooling electronics and lubricating computer hard disk drives; and high-temperature and display tapes. The segment also includes touch systems products, including touch screens, touch monitors, and touch sensor components. The segment's energy solutions include electrical, telecommunications, renewable energy, and infrastructure protection products. The segment serves electrical and telecommunications markets, including electrical utilities, electrical construction, maintenance and repair, OEM, telecommunications central office, outside plant and enterprise, as well as aerospace, military, automotive and medical markets. The segment offers products, including pressure sensitive tapes and resins, electrical insulation, a wide array of fiber-optic and copper- based telecommunications systems, as well as the 3M Aluminum Conductor Composite Reinforced (ACCR) electrical power cable. The segment also includes renewable energy component solutions for the solar and wind power industries, as well as infrastructure products solutions that provide municipalities both protection and detection solutions for electrical, oil, natural gas, water, rebar and other infrastructure assets. In FY2019, the Transportation and Electronics segment reported revenues of US$9,602 million, which accounted for 28.4% of the company's total revenue.
The Consumer segment serves markets such as consumer retail, office retail, office business to business, home improvement, drug and pharmacy retail, and other markets. Products in this segment include office supply products, stationery products, home improvement products (do-it-yourself), home care products, protective material products, certain consumer retail personal safety products, and consumer health care products. Major brands in the segment include: Scotch, Post-it, Command, Scotch-Brite, Scotchgard, O- Cel-O, Nexcare, and ACE. In FY2019, the Consumer segment reported revenues of US$5,089 million, which accounted for 15% of the company's total revenue.
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Geographically, the company classifies its operations into five segments, namely the US, Asia Pacific, Europe, Middle East and Africa, and Latin America and Canada. In FY2019, the US accounted for 40.9% of the company's total revenue, followed by Asia Pacific (30.5%;) Europe, Middle East and Africa (19.4%), and Latin America and Canada (9.2%).
3M Company History
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History
HISTORY
Financing Agreements
Year: 2021
In February, 3M announced a strategic investment in Repairify, Inc.
Contracts/Agreements
Year: 2020
In March, 3M entered into an agreement with Ford Motor to increase the production of 3M’s powered air- purifying respirators to meet the demand for personal protective equipment as a result of the COVID-19 pandemic.
Contracts/Agreements
Year: 2020
In April, the company entered into a partnership with Cummins to manufacture high efficiency particulate filters for use in 3M’s powered air purifying respirators.
Contracts/Agreements
Year: 2020
In May, 3M secured a contract from the U.S. Department of Defense to expand the US production of N95 respirators to combat the COVID-19 outbreak.
Contracts/Agreements
Year: 2020
In May, the company's 3M Commercial Solutions division, and Wrapmate signed a collaboration agreement to help businesses improve their marketability within the signage, print and vehicle graphics industry.
Contracts/Agreements
Year: 2020
In July, 3M entered into a partnership with Massachusetts Institute of Technology to develop coronavirus
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antigen test.
Contracts/Agreements
Year: 2020
In June, 3M entered into a collaboration with HP Inc., to communicate social distancing and health and safety messages to amid the continued COVID-19 pandemic.
Contracts/Agreements
Year: 2020
In December, 3M entered into an agreement with CPT Medical to assemble and distribute PPE kits.
Contracts/Agreements
Year: 2019
In January, the company and ON Semiconductor entered into a collaboration to improve communication between vehicles and roadway infrastructure.
Contracts/Agreements
Year: 2019
In May, 3M entered into an agreement to acquire Acelity Inc. and its KCI subsidiaries worldwide.
Contracts/Agreements
Year: 2019
In May, 3M entered into a contract with SIBUR to cooperate in product development and polymer recycling at SIBUR’s PolyLab.
Contracts/Agreements
Year: 2019
In October, 3M and Continental entered into a partnership to develop intelligent infrastructure technology for safer roadways.
Financing Agreements
Year: 2019
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In November, 3M Co and other companies raised US$12 million for Inkbit in a funding round.
Contracts/Agreements
Year: 2019
In November, the company and Dozuki collaborated to bring its standard work and work instruction training software to manufacturers of all sizes to help them achieve digital transformation goals.
New Products/Services
Year: 2018
In July, the company introduced an enhanceed version of one Rescue Inhaler.
New Products/Services
Year: 2018
In October, 3M launched a new lightweight, mid-level protection helmet with a night-vision goggle mount.
Contracts/Agreements
Year: 2018
In April, the company's Filtrete Smart Air Filters brand integrated with Amazon Dash Replenishment to reorder air filters automatically when they need replacing.
Acquisitions/Mergers/Takeovers
Year: 2018
In December, the company agreed to acquire M*Modal’s technology business for US$1 billion.
Corporate Changes/Expansions
Year: 2018
In June, the company opened its new headquarters in Ang Mo Kio, Singapore.
Contracts/Agreements
Year: 2018
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In July, the company secured a contract from the U.S. Department of Agriculture Food Safety and Inspection Service to provide pathogen detection instruments and kits.
Contracts/Agreements
Year: 2017
In June, 3M company along with Magna International, and Michigan Department of Transportation entered into a collaboration to improve vehicle connectivity, driver safety, and security.
Contracts/Agreements
Year: 2015
In September, the company entered into a partnership with AU Optronics, and Nanosys to offer a solution to incorporate components for visual quality into their products.
Corporate Changes/Expansions
Year: 2018
In February, 3M opened a new Innovation Center in Washington, D.C., the US.
Contracts/Agreements
Year: 2018
In March, the company's subsidiary Ceradyne Inc secured a contract worth US$34 million from U.S. Army to supply ballistic army helmets.
Contracts/Agreements
Year: 2018
In February, the company partnered with State of Minnesota to provide sustainability fund and water quality.
Corporate Awards
Year: 2018
In February, the company was recognized for ethics and integrity in business conduct and compliance by the Ethisphere Institute.
Acquisitions/Mergers/Takeovers
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Year: 2017
In September, the company acquired Elution Technologies, a manufacturer of test kits that enable food and beverage companies.
Corporate Changes/Expansions
Year: 2017
In October, 3M established a new hub, 3M Design Center in Japan, to accelerate the design growth all over the global enterprise.
Contracts/Agreements
Year: 2017
In August, 3M entered into an agreement with Camp Six Labs to utilize 3M products to wind-turbine blades using Camp Six robotic applicators.
Contracts/Agreements
Year: 2017
In July, the company secured 510(k) clearance from the US FDA for its 3M Attest Rapid Readout Biological Indicator System for vaporized hydrogen peroxide sterilization (VH202).
Plans/Strategy
Year: 2017
In May, 3M plans to expand its presence in Springfield, Missouri, the US for US$40 million.
Contracts/Agreements
Year: 2017
In May, the company and EDF RS signed an agreement for the installation of 3M Wind Vortex Generators on wind turbines all over the US.
Contracts/Agreements
Year: 2017
In May, 3M secured a contract from The U.S. Army for two 3M products to provide hearing protection and
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auditory situational awareness to soldiers.
Business / Operations Closure
Year: 2017
3M completed the sale of its identity management business to Gemalto.
Contracts/Agreements
Year: 2017
3M entered into a definitive agreement to acquire Scott Safety from Johnson Controls for a total enterprise value of $2 billion.
New Products/Services
Year: 2017
3M introduced new PELTOR sport electronic hearing protectors at SHOT show.
Business / Operations Closure
Year: 2017
3M completed the sale of its safety prescription eyewear business to HOYA Vision Care.
Contracts/Agreements
Year: 2016
In August, 3M formed an Nickel-Manganese-Cobalt (NMC) patent license agreement with Johnson Matthey for expanding the use of Nickel-Manganese-Cobalt.
New Products/Services
Year: 2016
3M reinvents scouring pad with new Scotch-Brite dual purpose scour pad 96Hex.
Contracts/Agreements
Year: 2016
3M entered into agreements to sell the identity management business within its Traffic Safety and
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Security Division, to Gemalto.
New Product Approvals
Year: 2016
The company launched the all-new digital network-ready 3M Drive-Thru Basestation G5, which would help quick service restaurants tap the drive-thru’s full potential.
Contracts/Agreements
Year: 2016
The U.S. Army selected Ceradyne, Inc., as the awardee for two low-rate initial production (LRIP) contracts for next-generation helmet systems and hard body armor inserts as part of the Integrated Head Protection System (IHPS) and Vital Torso Protection (VTP) – Enhanced Small Arms Protective Inserts (ESAPI) components of the Soldier Protection System (SPS).
New Products/Services
Year: 2016
The company’s Health Information Systems is expanding its market-leading 3M 360 Encompass System platform to introduce 3M 360 Encompass System – Professional, an encounter-based professional fee coding solution.
Contracts/Agreements
Year: 2016
3M Health Information Systems and Verily Life Sciences entered into a strategic agreement to develop new population health measurement technology for managing clinical and financial performance.
Contracts/Agreements
Year: 2016
The company signed an agreement to sell the assets of its temporary protective films business to Pregis LLC.
New Products/Services
Year: 2016
3M introduces 3MTM Live Face Identification System, which will recognize faces in a crowd in order to
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support public and private security teams tasked with keeping individuals safe.
Acquisitions/Mergers/Takeovers
Year: 2016
3M acquired Semfinder.
Contracts/Agreements
Year: 2016
The company’s Health Information Systems announced an agreement with Cerner who will use 3M Patient-focused Episodes Software with Cerner’s HealtheIntent population health management platform. Providers will be able to view the landscape of a patient’s documented conditions to help define an episode of care, while analyzing costs and expected resource use.
New Products/Services
Year: 2016
The company’s Food Safety released its enhanced 3M clean-trace hygiene monitoring and management system.
Incorporation/Establishment
Year: 2016
3M announced the grand opening of the new 3M Design Center, which is located at the company’s headquarters.
New Products/Services
Year: 2016
3M introduced the new 3M Attest Rapid Readout Biological Indicator System, which provided biological results for vaporized hydrogen peroxide sterilization
New Products/Services
Year: 2016
The company’s Health Information Systems introduced the 3M 360 Encompass MD—Patient Insights Suite, the latest addition to its complete system of physician workflow and analytic tools for value-based care success.
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New Products/Services
Year: 2016
The Filtrete brand of 3M introduced a new way to create fresher-smelling air throughout the home with new Filtrete Whole House Air Fresheners.
New Products/Services
Year: 2016
The company has created the 3M ScaleGard Blend Series of Products, providing a solution that helps ensure a seamless operation of expensive equipment by intelligently calculating water filter usage.
Contracts/Agreements
Year: 2016
Ceradyne, Inc., a 3M company, was awarded a $92.7 million body-armor contract by Defense Logistics Agency for the delivery of 177,000 pieces.
New Products/Services
Year: 2016
StrongArm Technologies ErgoSkeleton personal performance equipment was made available for purchase through 3M’s distribution channels within the US.
New Products/Services
Year: 2016
The company launched the Intelligent Inhaler designed to help control spiraling costs of respiratory diseases.
New Products/Services
Year: 2016
3M launched the new 3M Microbial Luminescence System Kit Fast-Tracks UHT and ESL Beverage Testing.
New Products/Services
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Year: 2016
The company introduced the first and only poly-backed indoor masking tape that tears by hand at a 90- degree angle - ScotchBlue PLATINUM
New Products/Services
Year: 2016
3M’s Food Safety launched its 3M Molecular Detection Assay 2 – E. coli O157 (including H7), adding to a line of next-generation tests, which also includes Salmonella, Listeria and Listeria monocytogenes.
New Products/Services
Year: 2016
The company released its new line of Projected Capacitive (PCAP) Multi-Touch Displays that incorporates the company’s proprietary ultrafine metal mesh touch system conductor design.
Contracts/Agreements
Year: 2016
Ceradyne, Inc., a 3M company received $92.7 million body-armor contract by Defense Logistics Agency for delivery of 177,000 pieces.
Contracts/Agreements
Year: 2016
3M announced a strategic collaboration with TTS Tool technic Systems AG & Co. KG, to provide customers in the global automotive collision repair industry.
Asset Disposal
Year: 2016
The company completed the sale of the assets of its Pressurized Polyurethane Foam Adhesives business (formerly known as Polyfoam) to Innovative Chemical Products Group (ICP Group), a portfolio company of Audax Private Equity.
New Products/Services
Year: 2016
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3M launched the 3M Select partner programme for the printing and application of print wrap films in the rail and fleet markets in the UK and Ireland.
Corporate Changes/Expansions
Year: 2016
3M expanded its range of high-performance non-PVC vehicle graphics films with the addition of the new Envision Print Film 48C.
New Products/Services
Year: 2016
3M Food Safety launched 3M Molecular Detection Assay 2 – E. coli O157 (including H7).
Plans/Strategy
Year: 2015
3M Library Systems planned to expand its 3M Cloud Library Digital Lending System to libraries in the UK and Australia.
Others
Year: 2015
Polypore's Separations Media business from Polypore International provides microporous membranes and modules for filtration in the life sciences, industrial and specialty segments.
New Products/Services
Year: 2015
3M released 3M Versaflo Powered Air Purifying Respirator TR-600, its air respiratory solution in the US.
Corporate Changes/Expansions
Year: 2015
3M invested in Nanoscale Components, a New Hampshire-based company which develops pre-lithiation processes for improved lithium ion batteries.
Asset Purchase
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Year: 2015
3M acquired the assets and liabilities associated with Polypore's Separations Media business for a total price of $1 billion.
Divestiture
Year: 2015
3M completed the sale of its global Static Control business to Desco Industries.
Acquisitions/Mergers/Takeovers
Year: 2015
The company completed the acquisition of Ivera Medical, a manufacturer of health care products that disinfect and protect devices used for access into a patient's bloodstream.
New Products/Services
Year: 2015
3M introduced new physician workflow technology that transforms the documentation process for physicians. 3M Critical and Chronic Care Solutions launched its new 3M Tegaderm CHG Chlorhexidine Gluconate I.V. Port Dressing, designed for patients with implanted port devices under their skin.
Contracts/Agreements
Year: 2015
Engineering institutions and 3M collaborated to gain an insight into 3M's unique culture of innovation and inspire their own design thinking.
Regulatory Approval
Year: 2014
3M Food Safety's new 3M Petrifilm Rapid Yeast and Mold Count Plate received certification from the AOAC Research Institute's Performance Tested Methods (PTM) Program.
Plans/Strategy
Year: 2014
3M and IBM announced their plans to jointly develop the first adhesives that can be used to package
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semiconductors into densely stacked silicon 'towers.'
New Products/Services
Year: 2014
The company launched 3M Thinsulate Featherless Insulation, a new loose fill insulation alternative to natural down.
New Products/Services
Year: 2014
Post-it brand from 3M introduced Post-it Dry Erase Surface, an instant, flexible whiteboard solution that can be applied to smooth surfaces to transform them into collaborative canvases.
New Products/Services
Year: 2014
3M Touch Systems, a wholly-owned subsidiary of the 3M Electronic Solutions division, announced its latest multi-touch solutions for interactive digital signage applications.
New Products/Services
Year: 2014
3M Electronics Materials Solutions division launched its new 3M LED chip packaging substrate that provides a cost-effective alternative to ceramic substrates. Furthermore, 3M Health Information Systems introduced 3M Quality Services, a complete program of expert consulting, advanced analytics, and the latest quality metrics to help hospitals identify the root cause of quality performance issues.
New Products/Services
Year: 2014
3M Touch Systems, a wholly-owned subsidiary of the 3M Electronic Solutions division, launched the 3M Multi-Touch Developer Network. Additionally, 3M Electrical Markets division launched 3M Steel-Barbed Cable Ties for electricians requiring rugged, reliable cable ties.
New Products/Services
Year: 2014
3M Purification unveiled a new purification technology (3M Emphaze AEX Hybrid Purifier) at INTERPHEX
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2014 designed to help biopharmaceutical manufacturers achieve product purity early in the manufacturing process, improving efficiency and process economics.
New Products/Services
Year: 2014
3M Library Systems launched the eAudiobooks, the newest innovation to its 3M Cloud Library Digital Lending System. Debuting with 40,000 titles powered by Findaway World, the 3M Cloud Library will have an extensive collection of eAudio titles.
New Products/Services
Year: 2014
3M Library Systems launched the 3M Cloud Library eBook Lending System in Canada.
New Products/Services
Year: 2014
3M launched two new Slim Lock Closures for wireless weatherproofing of smaller RF connections at the cell site. The 3M Slim Lock Mini and the 3M Slim Lock Nano join the 3M Slim Lock Classic, creating a family of varying sizes for wireless weatherproofing needs.
New Products/Services
Year: 2014
3M introduced erasable and removable chalkboard and dry erase tapes.
Corporate Changes/Expansions
Year: 2014
3M invested in MSi Lighting of Boca Raton, Florida, a company that 3M has been working with for the past year on a line of LED lights for multiple applications.
Corporate Changes/Expansions
Year: 2014
3M announced the expansion of its offerings by introducing the ePrivacy Filter, software which alerts users to over-the-shoulder onlookers.
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Corporate Changes/Expansions
Year: 2014
3M, through its new ventures business invested in Lixivia, a Chilean company that 3M has been working with on an engineering process to increase recuperation of copper sulfurate above levels reached through standard industry applications.
Corporate Changes/Expansions
Year: 2014
3M announced the completion of a major expansion of its pad conditioner manufacturing factory in Woodlands, Singapore, and the opening of a new pad conditioner manufacturing plant in Yangmei, Taiwan. In addition, 3M, through its 3M New Ventures organization, invested in Pixel Qi, a developer of LCD panels with operations in Taiwan and California.
Contracts/Agreements
Year: 2014
The company received additional orders from the US Government for its Enhanced Combat Helmet that provide military personnel with protection against head injury from ballistic threats and blunt impacts. 3M is expected to deliver 35,000 helmets for the US Army and 2,500 helmets for the US Navy in addition to the 77,000 ordered for the US Marine Corps.
Contracts/Agreements
Year: 2014
3M Health Information Systems was selected as the analytics firm for the RI-APCD (Rhode Island All- Payer Claims Database) to provide quality assurance, data management, analytics, access and reporting of RI-APCD data.
Contracts/Agreements
Year: 2014
3M Critical & Chronic Care Solutions reached a group purchasing agreement with health care alliance company Premier for multiple catheter securement and stability products.
Contracts/Agreements
Year: 2014
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3M and Rush Enterprises announced an agreement to pursue the design, manufacture, and installation of a portfolio of compressed natural gas (CNG) tanks and fuel systems for use in Class 6-8 vehicles in North America. 3M Health Information Systems and TriZetto Corporation signed a strategic agreement to provide optional integration of 3M grouping, edit, compliance and pay-for-outcomes logic into TriZetto's NetworX Pricer and NetworX Modeler solutions.
Contracts/Agreements
Year: 2014
Ideum and 3M collaborated to enable high-performance Android OS for 3M Multi-Touch displays. Furthermore, Entrust and 3M Cogent announced that both the companies are integrating biometric fingerprint authentication into the Entrust IdentityGuard software authentication platform.
Contracts/Agreements
Year: 2014
3M was selected as a partner in the US-China Clean Energy Research Center Building Energy Efficiency consortium.
Contracts/Agreements
Year: 2014
3M finalized an agreement with Alcohol Monitoring Systems to market the company's SCRAM Remote Breath alcohol testing device.
Contracts/Agreements
Year: 2014
3M and xperion announced an agreement to develop a new line of 3M-branded compressed natural gas tanks for use in the heavy-duty transportation industry.
Acquisitions/Mergers/Takeovers
Year: 2014
3M New Ventures, the corporate venture arm of 3M, announced an equity stake in Toronto-based Smart Energy Instruments (SEI), a move that will give 3M a bigger presence in the energy sector. The company acquired, through Sumitomo 3M, of Sumitomo Electric Industries Ltd.'s 25% interest in Sumitomo 3M Ltd. for JPY90 billion. 3M is now the sole owner and the business will be known as 3M Japan Ltd.
Acquisitions/Mergers/Takeovers
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Year: 2014
3M completed the acquisition of Treo Solutions, a provider of data analytics and business intelligence to healthcare payers and providers.
Acquisitions/Mergers/Takeovers
Year: 2014
3M acquired through Sumitomo 3M, Sumitomo Electric's 25% interest in Sumitomo 3M for JPY90 billion. Upon completion of the cash transaction, Sumitomo 3M became a wholly owned subsidiary.
Patent Grant
Year: 2013
3M Drug Delivery Systems announced that STADA Arzneimittel has become the latest drug company to license 3M's patented technology directed to a matrix patch for the transdermal delivery of the opioid pain medication fentanyl.
Others
Year: 2013
3M Food Safety announced that its 3M Molecular Detection Assay Salmonella was validated through AOAC INTERNATIONAL as a First Action Official Method of AnalysisSM (OMA method number 2013.09) for the detection of Salmonella in selected foods.
Official Trials/Tests
Year: 2013
3M unveiled a testing facility for its expanding portfolio of fall protection solutions, located within 3M's Fall Protection campus in Cottage Grove, Minnesota.
New Products/Services
Year: 2013
The company introduced two new solar encapsulant films 3M Solar Encapsulant Film EVA9100 and 3M Solar Encapsulant Film EVA9110T.
New Products/Services
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Year: 2013
3M Identity Management introduced its newest innovation in overt security features for polycarbonate credentials - 3M Laser Engraved Floating Image. In addition, Command Brand from 3M introduced a new line of Command Outdoor Products to help homeowners go all out decorating the outside of their home. 3M Health Information Systems released 3M ChartScriptMD Software for Radiology, a new reporting application that makes it easy for busy radiologists to create, sign, and distribute complete reports and communicate diagnostic findings all from a single, integrated system.
New Products/Services
Year: 2013
3M launched a new touch sensor film, 3M Patterned Silver Nanowire Film, that combines the expertise of two leading technology and manufacturing companies.
New Products/Services
Year: 2013
3M introduced one of the first LED A19 lamps approved for enclosed fixtures in commercial applications.
New Products/Services
Year: 2013
3M Food Safety launched 3M Petrifilm Salmonella Express System, a new pathogen detection technology that builds upon a solid platform of pathogen detection solutions.
Corporate Changes/Expansions
Year: 2013
3M expanded its manufacturing facilities in China and Singapore to support its growing window film business. 3M New Ventures, 3M's corporate venture organization, also announced an equity investment in TaKaDu, a provider of advanced analytics services to monitor water networks.
Contracts/Agreements
Year: 2013
Sunpartner Technologies and 3M announced an agreement to collaborate in product development and technical solutions, capitalizing on engineered electronics materials from 3M and transparent solar cell technologies from Sunpartner Technologies.
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Contracts/Agreements
Year: 2013
3M and Russell NDE/PICA Corporation announced a strategic marketing alliance. The alliance, in which the companies will co-market each other's products and services, covers the US, the UK and Canada. 3M and Russell NDE/PICA Corporation announced a strategic marketing alliance which would offer utilities a holistic approach to trenchless drinking water pipe rehabilitation and asset management. The alliance, in which the companies will co-market each other's products and services, covers the US, the UK and Canada. 3M Library Systems launched a new Catalog Acquisition Tool (CAT) for the 3M Cloud Library.
Contracts/Agreements
Year: 2013
3M Health Information Systems signed an agreement with MedPartners HIM to offer the company's clinical documentation improvement (CDI) staffing resources with 3M's complete suite of ICD-10 and CDI consulting services and software.
Contracts/Agreements
Year: 2013
3M and Ecopro Co entered into a patent license agreement that aims at further expanding the use of Nickel-Manganese-Cobalt cathode materials in lithium ion batteries. 3M also announced that the Georgia State Road & Tollway Authority awarded a $27.7 million contract to 3M Toll Services for Toll Systems Integration on the I-75 South Express Lanes and the I-75/I-575 Northwest Corridor Express Lanes projects over a six-year period.
Contracts/Agreements
Year: 2013
3M and China-based Hunan Reshine New Material entered into a patent license agreement to expand the use of nickel, manganese and cobalt (NMC) used in lithium ion batteries.
Corporate Changes/Expansions
Year: 2012
3M New Ventures announced a Series B round financing investment in HydroNovation, a developer of water conditioning systems for residential and food service industry applications. Subsequently, 3M New Ventures invested in Zephyr Technology, a developer of real-time physiological monitoring solutions for well-being applications in healthcare, first responder, sports, military, and industrial markets.
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Corporate Changes/Expansions
Year: 2012
3M, through its New Ventures business, invested in 7AC Technologies, a developer of heating, ventilation and air conditioning (HVAC) systems that use liquid desiccant technology to remove humidity from the air.
Contracts/Agreements
Year: 2012
3M, through its corporate venture organization 3M New Ventures, announced an equity investment and collaboration with VocalZoom, a developer of speech enhancement technology.
Contracts/Agreements
Year: 2012
3M Cogent was awarded a 10-year contract to supply high-resolution LiveScan booking systems and biometric identification solutions to the Hong Kong Police Force (HKPF).
Contracts/Agreements
Year: 2012
3M and Avery Dennison terminated the definitive agreement under which 3M would have purchased Avery Dennison's office and consumer products business.
Acquisitions/Mergers/Takeovers
Year: 2012
The company completed the acquisition of the business of Federal Signal Technologies Group (FSTech) from Federal Signal.
Acquisitions/Mergers/Takeovers
Year: 2012
The company acquired CodeRyte, which offers clinical natural language processing (NLP) technology and computer-assisted coding solutions for healthcare outpatient providers.
Acquisitions/Mergers/Takeovers
Year: 2012
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3M acquired Ceradyne, which develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, energy, automotive/diesel, and commercial applications.
New Products/Services
Year: 2011
The company launched a new company, 3M AST in Korea, which will provide sputtering and plating services, materials and manufacturing capabilities for flexible circuits for the mobile hand-held, touch- screen panel and display markets. Subsequently, 3M opened a customer technical center in Bogota, Colombia.
Corporate Changes/Expansions
Year: 2011
3M, through its ventures business, invested in GoNano Technologies, a developer and manufacturer of high surface area nanomaterials for pollution control, catalysis, composites and sensory technologies. Subsequently, 3M New Ventures business, along with Rensselaer Polytechnic Institute and DOEN Foundation, made an equity investment in Ecovative Design, a materials science company developing a new class of home-compostable plastics based on mycelium, an organism akin to a living polymer.
Corporate Changes/Expansions
Year: 2011
3M, through its 3M New Ventures and 3M Electro & Communications Business, invested in txtr GmbH, an e-reading technology company. 3M opened its outdoor solar weathering center, located at its Cottage Grove, Minnesota facility. Furthermore, the company opened an application laboratory in Yangmei, Taiwan, for 200mm and 300mm temporary wafer bonding.
Corporate Changes/Expansions
Year: 2011
3M, through 3M New Ventures business, invested in motionID technologies AG, a developer of an ePayment system that enables vehicles to be automatically equipped with a payment function. 3M announced its plans to build a manufacturing site for photovoltaic solar materials and renewable energy products in China.
Corporate Changes/Expansions
Year: 2011
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3M Taiwan announced the establishment of a customer technology and innovation center in Yang-Mei City, Taoyuan County, Taiwan.
Corporate Changes/Expansions
Year: 2011
3M opened a new innovation center in Dubai, the UAE.
Contracts/Agreements
Year: 2011
3M and Umicore entered into a second technology license agreement. Under the terms, 3M would grant Umicore license to a family of low cobalt NMC cathode material compositions for manufacture and sales to lithium-ion battery manufacturers for automotive and consumer electronics applications.
Contracts/Agreements
Year: 2011
3M Drug Delivery Systems signed an agreement with Radius Health (Radius) to collaborate on the development of a transdermal delivery option of BA058, Radius' novel, proprietary PTHrP (parathyroid hormone-related protein) analog, for the treatment of osteoporosis.
Contracts/Agreements
Year: 2011
3M and Quanta Computer, a manufacturer for notebook computers and other PC related products, signed a definitive agreement to form a new company.
Asset Purchase
Year: 2011
The company acquired certain assets of Zargis Medical, a maker of the FDA-approved diagnostic software to classify suspected systolic and diastolic heart murmurs.
Acquisitions/Mergers/Takeovers
Year: 2011
The company acquired the do-it-yourself and professional business of GPI Group, a France based manufacturer of home improvement products such as tapes, hooks, insulation and floor protection
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products and accessories.
Acquisitions/Mergers/Takeovers
Year: 2011
The company acquired the business of Nida-Core, a manufacturer of structural honeycomb core and fiber-reinforced foam core materials. The company acquired the tape-related assets of Alpha Beta Enterprise, a Taiwan based manufacturer of box sealing tape and masking tape. Subsequently, the company acquired Hybrivet Systems, a provider of instant-read products to detect lead and other contaminants and toxins.
Acquisitions/Mergers/Takeovers
Year: 2011
The company acquired Original Wraps, a company specializing in the creative business development, technology and design of personalization platforms for vehicles and vehicle accessories.
Acquisitions/Mergers/Takeovers
Year: 2011
3M completed the acquisition of Winterthur Technologies, a Switzerland-based developer and producer of grinding tools used in the cutting tool, automotive, turbine, machine tool and steel industries.
Acquisitions/Mergers/Takeovers
Year: 2011
3M acquired Advanced Chemistry & Technology (AC TECH), a manufacturer of quick cure, light-weight polysulfide sealants for aerospace applications.
Corporate Changes/Expansions
Year: 2010
3M, through its ventures business, invested in Printechnologics, a German printed electronics specialist.
Corporate Changes/Expansions
Year: 2010
3M, through its 3M New Ventures business, invested in Perceptive Pixel, a developer of advanced multi- touch solutions.
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Contracts/Agreements
Year: 2010
The company signed a commercialization and supply agreement with TenCate Advanced Composites USA, a thermoset and thermoplastic prepreg supplier.
Contracts/Agreements
Year: 2010
3M and Patient Care Technology Systems (PCTS), a subsidiary of Consulier Engineering, signed an agreement to bring an automated hand hygiene compliance solution to healthcare customers globally. The US Department of Energy's (DOE) National Renewable Energy Laboratory (NREL) announced a series of Cooperative Research and Development Agreements (CRADAs) with 3M.
Contracts/Agreements
Year: 2010
3M and Sewerin entered into an exclusive US water leak detection strategic alliance. Under the alliance, 3M would assume the exclusive distribution rights for the sale of Sewerin's entire water leak detection product portfolio in the US.
Acquisitions/Mergers/Takeovers
Year: 2010
3M acquired Dailys, a supplier of non-woven disposable protective clothing, primarily chemical protective coveralls for industrial use. The company acquired Ross Reels, a manufacturer of fly fishing equipment and accessories. 3M acquired Arizant, a manufacturer of patient warming solutions designed to prevent hypothermia in surgical settings.
Acquisitions/Mergers/Takeovers
Year: 2010
3M acquired Attenti Holdings, a supplier of remote people monitoring technologies used for a variety of offender monitoring applications. The company completed the acquisition of Cogent and changed its name to 3M Cogent. Cogent is a provider of finger, palm, face and iris biometric systems for governments, law enforcement agencies, and commercial enterprises.
Acquisitions/Mergers/Takeovers
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Year: 2010
3M acquired a majority stake in the A-One branded consumer and office label business and related operations. 3M acquired J.R. Phoenix, a manufacturer of hand hygiene and skin care products for health care and professional use including soaps, hand cleansers, moisturizing and protecting creams, antimicrobial soaps and sanitizing gels, shampoo, and body wash.
Research and Development
Year: 2009
3M India announced that it would establish a new R&D facility in Bangalore, India to develop products for local markets.
New Products/Services
Year: 2009
3M formed the mobile interactive solutions division to serve users of the display-capable mobile electronic devices.
Corporate Changes/Expansions
Year: 2009
3M formed a new renewable energy division.
Corporate Changes/Expansions
Year: 2009
3M Drug Delivery Systems expanded its capabilities with a new laboratory site at the 3M Singapore facility in Yishun. Moreover, 3M opened a customer technical center in Dubai, the UAE.
Contracts/Agreements
Year: 2009
3M entered into strategic relationship and an agreement with Amperex Technologies (ATL). SUSS MicroTec signed an agreement with 3M to expand access to 3M Wafer Support System (WSS) equipment for temporary wafer bonding of ultrathin wafers required for 3-D packaging.
Acquisitions/Mergers/Takeovers
Year: 2009
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Venture Tape, a subsidiary of 3M, acquired Compac Corp's pressure sensitive adhesive (PSA) tape assets from Lamtec.
Acquisitions/Mergers/Takeovers
Year: 2009
3M acquired the ACE branded (and related brands) elastic bandage and support product lines and thermometer product line from BD (Becton, Dickinson and Company).
Divestiture
Year: 2008
3M sold its HighJump Software to Battery Ventures, a technology venture capital and private equity firm.
Contracts/Agreements
Year: 2008
Entrust and 3M announced a partnership to provide an integrated end-to-end secure ePassport solution.
Contracts/Agreements
Year: 2008
3M signed a non-exclusive license agreement with the Infectious Disease Research Institute (IDRI) in support of vaccine research for humanitarian efforts in developing countries. 3M and Sony Corporation (Sony) signed a license agreement that granted Sony the right to use certain 3M optical film technology in its prismatic films for LCD TV products. 3M signed a non-exclusive license agreement with Celldex Therapeutics (Celldex), a wholly-owned subsidiary of AVANT Immunotherapeutics.
Contracts/Agreements
Year: 2008
Entrust and 3M announced a partnership to provide an integrated end-to-end secure ePassport solution.
Contracts/Agreements
Year: 2008
3M Drug Delivery Systems signed a non-exclusive license agreement with Sanofi Pasteur, the vaccines division of Sanofi-Aventis Group.
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Contracts/Agreements
Year: 2008
3M and Himax Technologies, a provider of semiconductor solution for flat panel displays, entered into a strategic alliance to commercialize LCOS mobile projectors. Subsequently, HighJump Software, a 3M company, entered into a strategic associate agreement with UNI3 System to deliver advanced supply chain execution solutions to the Japanese market.
Acquisitions/Mergers/Takeovers
Year: 2008
3M acquired Financiere Burgienne, a provider of finished license plates under the FAAB and FABRICAUTO brands in France. The company acquired ABRASIVOS, a manufacturer of coated abrasives in Peru. 3M also acquired the Futuro health supports and compression hosiery product line from Beiersdorf.
Acquisitions/Mergers/Takeovers
Year: 2008
3M acquired TOP-Service fur Lingualtechnik, a Germany-based orthodontic technology and services company offering the Incognito brand system, a digital lingual orthodontic solution. Subsequently, the company acquired Polyfoam Products, a structural adhesives company specialized in foam adhesives for tile roofing and other adhesive products for the building industry. 3M acquired Ligacon, a Switzerland- based manufacturer and supplier of filtration systems and filter elements for the pharmaceutical, biotech, and general industrial markets.
Acquisitions/Mergers/Takeovers
Year: 2008
3M acquired Meguiar's, a manufacturer of car care products for cleaning and protecting automotive surfaces. The company acquired EMFI and SAPO, a French manufacturer of polyurethane based structural adhesives and sealants. 3M acquired Food Diagnostics, a provider of food diagnostics products and services for the food safety industry in Norway. 3M acquired Grafoplast, a manufacturer of wire identification systems for the wire and cable market.
Acquisitions/Mergers/Takeovers
Year: 2008
3M's Dyneon business acquired the business of Hitech Polymers, a manufacturer of specialty
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thermoplastic polymers and provider of toll thermoplastic compounding services based in Kentucky, the US.
Acquisitions/Mergers/Takeovers
Year: 2008
3M acquired TOP-Service fur Lingualtechnik, a Germany-based orthodontic technology and services company offering the Incognito brand system, a digital lingual orthodontic solution. Subsequently, the company acquired Polyfoam Products, a structural adhesives company specialized in foam adhesives for tile roofing and other adhesive products for the building industry. 3M acquired Ligacon, a Switzerland- based manufacturer and supplier of filtration systems and filter elements for the pharmaceutical, biotech, and general industrial markets.
Acquisitions/Mergers/Takeovers
Year: 2008
3M acquired Quest Technologies, a manufacturer of environmental monitoring equipment, including noise, heat stress, and vibration monitors. The company acquired K&H Surface Technologies, an Australia-based manufacturing company. 3M acquired IMTEC, a manufacturer of dental implants and cone beam computed tomography (CBCT) scanning equipment for dental and medical radiology.
Acquisitions/Mergers/Takeovers
Year: 2008
3M acquired Aearo Technologies, a manufacturer of personal protection and energy absorbing products.
Divestiture
Year: 2007
The company sold its Opticom priority Control Systems and Canoga Traffic Detection businesses to TorQuest Partners.
Contracts/Agreements
Year: 2007
3M entered into a marketing alliance with Zargis Medical to develop a next-generation stethoscope.
Acquisitions/Mergers/Takeovers
Year: 2007
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3M acquired Lingualcare, an orthodontic technology and services company offering the iBraces system, a customized, lingual orthodontic solution. The company acquired Standard Abrasives, a manufacturer of coated abrasive specialties and non-woven abrasive products for the metalworking industry; and Unifam, a manufacturer of cut-off wheels, depressed center grinding wheels, and flap discs. Subsequently, 3M acquired the business of Bondo Corporation, a manufacturer of auto body repair products for the automotive aftermarket and various other professional and consumer applications.
Acquisitions/Mergers/Takeovers
Year: 2007
3M acquired Articulos de Papel DMS Chile, a manufacturer of disposable surgical packs, drapes, gowns, and kits. Subsequently, the company acquired the manufacturing and marketing rights to the PERIDEX brand periodontal rinse product from Zila. 3M acquired Rochford Thompson Equipment, a manufacturer of optical character recognition passport readers used by airlines and immigration authorities. Subsequently, 3M entered acquired Neoplast, a manufacturer/distributor of surgical tapes and dressings and first aid bandages for both the professional and consumer markets across the Asia Pacific region. 3M acquired Venture Tape, a global provider of pressure sensitive adhesive tapes and Abzil Industria e Comercio, a manufacturer of orthodontic products based in Brazil.
Acquisitions/Mergers/Takeovers
Year: 2007
3M acquired Accuspray Application Technologies, a manufacturer of spray paint equipment for architectural, automotive refinishing, industrial, and woodworking applications. It acquired Rite-Lok global industrial adhesives product line from Chemence, a manufacturer of consumer and industrial adhesives. 3M acquired E Wood Holdings, a manufacturer of high performance protective coatings for oil, gas, water, rail, and automotive industries. Subsequently, the company acquired the business of Innovative Paper Technologies, a manufacturer of inorganic-based technical papers, boards, and laminates for high temperature applications; and Powell, a supplier of non-woven polyester mats for the electrical industry.
Acquisitions/Mergers/Takeovers
Year: 2006
The company acquired Archon Technologies, a provider of enterprise software solutions for motor vehicle agencies. It acquired Aerion Technologies, a provider of environmental monitoring products, including gas detection systems. 3M acquired Nylonge, a provider of household cleaning products, including cellulose sponges, scrub sponges, and household wipes. The company acquired Credence Technologies, a provider of instruments and high-end monitoring equipment for electrostatic discharge control and electromagnetic compliance. Subsequently, 3M acquired Biotrace International, a manufacturer and supplier of industrial microbiology products.
Acquisitions/Mergers/Takeovers
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Year: 2006
3M completed the acquisition of OMNII Oral Pharmaceuticals, a provider of differentiated preventive dental products, solutions, and support for dental professionals. 3M Deutschland acquired SBG (Software und Beratung im Gesundheitswesen), a developer of diagnosis related groups (DRG) software for hospitals. Subsequently, 3M acquired the safety business of POMP Medical and Occupational Health Products, a provider of products such as earplugs, eyewear, and hand creams, based in Brazil.
Asset Purchase
Year: 2005
The company's electro and communications segment purchased certain assets of Siemens' ultrasound division's flexible circuit manufacturing line. 3M's display and graphics segment purchased certain assets of Mercury Online Solutions.
Acquisitions/Mergers/Takeovers
Year: 2005
3M acquired CUNO, engaged in design, manufacture, and marketing of filtration products.
Acquisitions/Mergers/Takeovers
Year: 2004
The company acquired Info-X, a provider of medical coding compliance software and data for hospital billing management and compliance issues.
Acquisitions/Mergers/Takeovers
Year: 2004
3M purchased HighJump Software, a provider of supply chain execution software and solutions; and Hornell International, a supplier of personal protective equipment.
Acquisitions/Mergers/Takeovers
Year: 2003
Dyneon, a wholly-owned subsidiary of 3M, acquired Solvay Fluoropolymers, a subsidiary of Solvay America.
Corporate Changes/Expansions
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Year: 2002
3M combined its label business with Emtech Emulsion Technologies (Emtech) into a single 3M operating unit.
Contracts/Agreements
Year: 2002
The company, through its subsidiary, 3M Canada Company, entered into an agreement with AiT to combine their security-related businesses.
Acquisitions/Mergers/Takeovers
Year: 2002
The company acquired Polymer Engineering, a polymer adhesive company. It also acquired Corning Precision Lens, a manufacturer of lens systems for rear projection televisions.
New Products/Services
Year: 1995
3M launched its printing and publishing, data storage, and imaging systems business as an independent, publicly owned company.
Corporate Changes/Expansions
Year: 1980
The company built its first US research/administrative complex outside Minnesota. 3M expanded its markets to pharmaceuticals, radiology and energy control.
Corporate Changes/Expansions
Year: 1950
Durex was disbanded and 3M started its own international division to expand its global operations.
Stock Listings/IPO
Year: 1946
3M stock was listed on the New York Stock Exchange (NYSE).
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Corporate Changes/Expansions
Year: 1940
3M had five diverse businesses: abrasives, masking tape, cellophane tape, roofing granules, and adhesives.
Corporate Changes/Expansions
Year: 1937
The company established a central research laboratory to pursue research in technologies with long-term potential.
Corporate Changes/Expansions
Year: 1929
The company made its first international expansion by forming Durex Corporation (Durex) to conduct business in Europe.
Corporate Changes/Expansions
Year: 1929
It formed a holding company in Europe with eight other manufacturers.
Incorporation/Establishment
Year: 1902
3M Company (3M or 'the company') was established as the Minnesota Mining and Manufacturing Company to mine minerals for sandpaper and grinding wheels.
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Key Employees
KEY EMPLOYEES
Name Job Title Board John P. Banovetz Chief Technology Officer, Senior Vice
President-R&D Senior Management
Denise R. Rutherford Senior Vice President-Corporate Affairs Senior Management Michael A. Duran Chief-Ethics and Compliance Officer, Vice
President Senior Management
Ted K. Ringsred Assistant Secretary Senior Management Theresa E. Reinseth Chief Accounting Officer, Controller, Vice
President Senior Management
Christina Spence Assistant Treasurer Senior Management Karen V. Carroll General Auditor, Vice President Senior Management Veena M. Lakkund Senior Vice President-Strategy and
Business Development Senior Management
Dambisa F. Moyo Director Non Executive Board Michael M. Dai Assistant Secretary Senior Management Monish Patolawala Chief Financial Officer, Senior Vice
President Senior Management
Ty R. Silberhorn Senior Vice President-Transformation, Technologies and Service
Senior Management
Pamela J. Crai Director Non Executive Board James Momon Chief Equity Officer, Vice President-Equity
& Community Senior Management
Jeffrey R. Lavers Executive Vice President-Consumer Business Group
Senior Management
Mojdeh Poul Executive Vice President-Health Care Business Group
Senior Management
Michael F. Roman Chairman, Chief Executive Officer Executive Board Jim Fitterling Director Non Executive Board Amy E. Hood Director Non Executive Board Thomas K. Brown Director Non Executive Board Michael L. Eskew Director Non Executive Board Herbert L. Henkel Director Non Executive Board Muhtar Kent Director Non Executive Board Gregory R. Page Director Non Executive Board Patricia A. Woertz Director Non Executive Board David B. Dillon Director Non Executive Board Ashish K. Khandpur Executive Vice President-Transportation &
Electronics Business Group Senior Management
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Michael G. Vale Executive Vice President-Safety & Industrial Business Group
Senior Management
Eric D. Hammes Executive Vice President-Enterprise Operations
Senior Management
Kristen M. Ludgate Senior Vice President-Human Resources Senior Management Ivan K. Fong General Counsel, Secretary, Senior Vice
President Senior Management
Sarah M. Grauze Treasurer, Vice President-Finance Senior Management
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Key Employee Biographies
KEY EMPLOYEE BIOGRAPHIES
John P. Banovetz
Board:Senior Management Job Title:Chief Technology Officer, Senior Vice President-R&D Since:2017 Age:52
Mr. Banovetz has been the Chief Technology Officer and Senior Vice President-R&D of the company since 2017. Prior to this, he held many leadership positions within the company from 1995 to present including Global Business Director for 3M’s Industrial Adhesives and Tapes Division and Managing Director of 3M’s D-A-CH region.
Denise R. Rutherford
Board:Senior Management Job Title:Senior Vice President-Corporate Affairs Since:2019 Age:57
Ms. Rutherford serves as the Senior Vice President, Corporate Affairs of the company since 2019. Prior to this, she held various leadership roles in the company’s research and development, Lean Six Sigma and business group organizations.
Veena M. Lakkund
Board:Senior Management Job Title:Senior Vice President-Strategy and Business Development
Ms. Lakkund serves as the senior vice president of strategy and business development at the company. She leads several critical functions across 3M including strategy, M&A, venture investing and the program management office for implementation of enterprise initiatives. Prior to this, Lakkund held many leadership positions within the company from 1993 to present.
Monish Patolawala
Board:Senior Management Job Title:Chief Financial Officer, Senior Vice President Since:2020
Mr. Monish Patolawala serves as Senior Vice President and Chief Financial Officer of the company since 2020. Prior to this, he served as Chief Financial Officer at GE Healthcare. He also served in various
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positions at GE Healthcare since 1994.
Ty R. Silberhorn
Board:Senior Management Job Title:Senior Vice President-Transformation, Technologies and Service Since:2019 Age:52
Mr. Silberhorn serves as the Senior Vice President, Transformation, Technologies and Service of the company since 2019. Prior to this, he served as the Vice President and General Manager, Industrial Adhesives and Tapes Division, from 2015 to 2019.
James Momon
Board:Senior Management Job Title:Chief Equity Officer, Vice President-Equity & Community Since:2020
Mr. Momon serves as the Chief Equity Officer and Vice President of Equity & Community at 3M since 2020.
Jeffrey R. Lavers
Board:Senior Management Job Title:Executive Vice President-Consumer Business Group Since:2020 Age:57
Mr. Lavers has been the Executive Vice President of Consumer Business Group at the company since 2020. Prior to this, he held leadership roles spanning all four of 3M’s business groups, including positions in the company’s health care and industrial businesses, and most recently as leader of the automotive and aerospace business. He previously led the construction and home improvement business, and the company’s corporate marketing and sales organization.
Mojdeh Poul
Board:Senior Management Job Title:Executive Vice President-Health Care Business Group Since:2019 Age:57
Ms. Poul serves as the Executive Vice President of Health Care Business Group of the company since 2019. Prior to this, she held several leadership roles of increasing responsibility with Medtronic and Boston Scientific.
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Michael F. Roman
Board:Executive Board Job Title:Chairman, Chief Executive Officer Since:2019 Age:60
Mr. Roman has been the Chief Executive Officer and Chairman of 3M since May 2019. Earlier, he served as the Chief Operating Officer and Executive Vice President of the company. He also served as the Executive Vice President, Industrial Business Group at 3M since 2014. He started his career as a Senior Design Engineer at 3M’s Software and Electronics Resource Center in 1988, after five years with the Hughes Aircraft Company. He joined 3M Intelligent Transportation Systems as a Laboratory Manager and, later, as the Business Director. He traveled to Belgium in 2001 and spent the next two years as the European Business Unit Director for the 3M Safety and Security Systems Division. Mr. Roman also served as the President and Managing Director of 3M Korea. Earlier, he served as the Senior Vice President for Business Development at the company.
Ashish K. Khandpur
Board:Senior Management Job Title:Executive Vice President-Transportation & Electronics Business Group Since:2019 Age:52
Mr. Khandpur has been the Executive Vice President-Transportation and Electronics Business Group of the company since 2019. Previously, he held many leadership positions within the company for 25 years.
Michael G. Vale
Board:Senior Management Job Title:Executive Vice President-Safety & Industrial Business Group Since:2019 Age:53
Mr. Vale has been the Executive Vice President, Safety & Industrial Business Group of the company since 2019. Prior to this, he serves as the Executive Vice President, Health Care Business Group, from 2016 to 2019 and as Executive Vice President, Consumer Business Group, from 2012 to 2016.
Eric D. Hammes
Board:Senior Management Job Title:Executive Vice President-Enterprise Operations Age:45
Mr. Hammes serves as the Executive vice president, Enterprise Operations at the company. Prior to this, he held many positions within the company including as an auditor, analyst, and 3M’s corporate controller
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and chief accounting officer. Eric served as 3M’s senior vice president of business transformation and most recently, 3M’s senior vice president of manufacturing and supply chain. He has worked with and partnered across many of 3M’s businesses from Health Care to Electronics and Energy as well as multiple geographies, such as the United States, West Europe and Asia Pacific.
Kristen M. Ludgate
Board:Senior Management Job Title:Senior Vice President-Human Resources Since:2018 Age:57
Ms. Ludgate serves as the Senior Vice President, Human Resources of the company since 2018. Previously, she held several positions including chief employment counsel. In her next role, as vice president of Compliance & Business Conduct and chief compliance officer, Kristen led 3M’s global compliance program and chaired 3M’s executive Business Conduct Committee. She then became vice president, Global Human Resources Business Operations, leading a team of HR professionals supporting 3M business operations and strategies worldwide focusing on talent, organizational effectiveness and change management. Before assuming her current role, Kristen led Corporate Communications and Enterprise Services and the company’s social invest arm, 3Mgives.
Ivan K. Fong
Board:Senior Management Job Title:General Counsel, Secretary, Senior Vice President Since:2012 Age:58
Mr. Fong has been the Senior Vice President, General Counsel and Secretary of the company since 2012. Prior to this, he served as the General Counsel for the U.S. Department of Homeland Security, where he advised senior national security officials and led 1,800 lawyers. He has also served as chief legal officer and secretary of Cardinal Health, Inc., where he was named one of the Twenty Most Influential General Counsel by the National Law Journal.
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Major Products & Services
MAJOR PRODUCTS & SERVICES
3M is a diversified technology company that operates in various industries, including industrial; safety and graphics; electronics and energy; health care; and consumer. The company's key products and brands include the following:
Products:
Displays and Graphics: Computer Privacy Filters Display Enhancement Solutions Display Films (Optical Systems) Architectural Solutions Large Format Graphics (Graphic Solutions) Presentation and Projection Products Roadway Safety Touch Screen Systems
Electronics, Electrical and Communications: Data Center Solutions Communication Technologies Electronics Design and Manufacturing Repair and Service Center for Test and Measurement
Health Care: Critical and Chronic Care Dental (3M ESPE) Drug Delivery Systems Stethoscopes (Littmann) Health Information Systems Infection Prevention Food Safety / Microbiology Medical Device and Components Medical OEM for Kits and Trays Orthodontics (3M Unitek) Veterinary and Animal Care
Safety and Security: Building Lifecycle Solutions Fire Protection Facilities Cleaning and Care Food Supplies and Services Insulation for Apparel (Thinsulate) Library Systems Infrastructure Protection Products
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Personal Protective Equipment Personal Safety Motor Vehicle Services and Systems Reflective Material (Scotchlite) Security Systems Roadway Safety Window Films Track and Trace Solutions
Transportation Industry: Motor Vehicle Services and Systems Automotive Marine Specialty Vehicle Roadway Safety
Manufacturing and Industry: Abrasives and Sandpaper Composites Manufacturing Construction and Architecture Adhesives and Bonding Solutions Converter Markets (Label and Diecut) Fluoropolymers (Dyneon) HVAC Filter Products (Filtrete) Display Enhancement Solutions 3M VHB Tapes Industrial Tapes Maintenance and Repair Industrial Adhesives and Tapes Manufacturing and Industry Product Catalog Packaging Solutions Personal Care Products Protective Products Paints and Coatings Window Films Woodworking and Furniture Water Filtration Systems
Office: Ergonomics and Workstation Accessories Mounting, Adhesives, and Tapes Meetings and Presentations Packaging and Mailing Post-It Custom Printed Products Post-It Products
Home and Leisure:
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Air Cleaning Filters (Filtrete) Automobile and Boat Care Cleaning and Protecting Computer Accessories Braces, Bandages, Hot/Cold Therapy (ACE) First Aid (Nexcare) Home Improvement and Repair Hooks and Mounting (Command Adhesives) Insulation for Apparel (Thinsulate) Health and Personal Care Sponges and Scrub Sponges (O-Cel-O) Health Supports and Hosiery (Futuro) Personal Safety and Comfort Painter’s Tapes (Scotch-Blue) Pet Care (Pruven) Reflective Material (Scotchlite) Sports and Outdoors Post-It Products
Brands:
3M Scotch ACE Post-it Scotch-Brite Command Filtrete Nexcare ScotchBlue
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SWOT Analysis
SWOT ANALYSIS
3M Company (3M or “the company”) is a diversified technology company which operates in various industries, including industrial; safety and graphics; electronics and energy; health care; and consumer. Strong R&D capability, operating capabilities and robust portfolio of brands are its key strengths, even as declined financial performance remains a cause for concern for the company. Positive renewable energy market and strategic partnerships provide growth opportunities to the company. However, intense competition, foreign currency fluctuations and environmental law compliance could erode the market share and reduce the profitability of 3M.
Strength
Robust portfolio of brands Strong R&D capability Operating capabilities
Weakness
Decline in financial performance
Opportunity
Strategic partnerships Positive renewable energy market
Threat
Intense competition Foreign currency fluctuations Environmental law compliance
Strength
Robust portfolio of brands
3M is known for its strong brand name. The company is widely recognized across product lines and geographies. Some of the company's well-known brands include Scotch brand products, such as Scotch Magic Tape, Scotch Cushioned Mailer, and Scotch Glue Stick; and Post-it products, such as Post-it flags, Post-it note pads, Post-it labeling and cover-up tape, Post-it extreme notes, and Post-it pop-up notes and dispensers. In the construction and home improvement business, the company markets its surface- preparation and wood-finishing materials through its brand names, including Filtrete filters and Command adhesive products for furnaces and air conditioners. Its home care product brands comprise Scotch-Brite microfiber cloth products, Scotch-Brite scrub sponges, Scotch-Brite scour pads, and OCel-O sponges. Additionally, 3M's protective material products include Scotchgard fabric protectors; certain consumer retail personal safety products, such as hearing protectors, safety glasses, and 3M Thinsulate Insulation, which is used in pants, gloves, jackets, boots and hats to keep people warm; ACE branded elastic bandage, supports and thermometer product portfolio. Strong brand portfolio increases brand recall and promotes repeat purchases. It also enhances the overall brand equity of the company and provides opportunities to introduce brand extensions and line extensions.
Strong R&D capability
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3M has strong R&D capabilities. The company conducts research to develop new products and improve existing products, as well as to enhance manufacturing and production methods and improve service. In FY2019, the company spent US$1,911 million on R&D in FY2019, which accounted for 5.9% of the company’s revenue. R&D covers basic scientific research and application of scientific advances in developing new and improved products and their uses, totaled US$1,253 million in FY2019. The company's R&D activities generate a steady stream of inventions that are covered by new patents. Thus, strong R&D capability enables the company to develop innovative products, which enable it to remain at the forefront of its respective businesses and differentiate its offerings in a highly competitive market.
Operating capabilities
3M’s substantial operating capabilities across the world offers growth opportunities and competitive advantages, and allows it to secure local market know-how. The company operates 71 manufacturing facilities in 29 US states. 3Moperates 100 manufacturing and converting facilities in 35 countries. The company has business operations in over 70 countries and sales in almost all countries.
Weakness
Decline in financial performance
The financial performance of the company declined in FY2019, which enables it to provide lower returns to its shareholders, and attract further investments. In FY2019, 3M reported revenue of US$32,136 million as compared to US$32,765 million in FY2018, which indicates annual decline of 1.9%. The decline in revenue was due to decrease in the sales Safety and Industrial segment by 7.1% and Transportation and Electronics segment by 5% respectively. In FY2019, the company’s operating margin was 19.1%, compared to an operating margin of 22% in FY2018. Weak operational performance indicates lack of focus by the company on cost management. Similarly, in FY2019, the company recorded a net margin of 14.2%, compared to a net margin of 16.3% in FY2018.
Opportunity
Strategic partnerships
Strategic partnerships could provide growth opportunities to the company. In November 2020, the company entered into partnership with safran cabin to design cleaner aircraft interiors. This protects travelers and their families, and the company continues to apply its technology that enables passenger safety in the skies. In the same month, the company entered into partnership with Rad AI to provide Rad AI’s advanced technology radiology report impressions integrated with 3M M Modal Fluency for imaging, radiology reporting and workflow management solution. By building on the AI capabilities, the company and Rad AI would further streamline the reporting process, alleviating burnout, yielding substantial time savings for radiologists, and creating more time to focus on patient care.
Positive renewable energy market
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The global impact of climate change and increasing importance of environment protection has boosted the demand for renewable energy. According to Energy Information Administration (EIA) energy outlook report for the forecast period by 2035, total renewable generation worldwide is expected to increase 3.1% annually, and its share in the global electricity generation is expected to grow to 23% by 2035. According to the estimates of EIA, by 2035, world renewable energy generation is estimated to grow to 8,232 GWh by 2035. In Organization for Economic Co-operation and Development (OECD) countries, total electricity generation from renewable sources is expected to increase at an annual rate of 2.2% to 3,236 GWh by 2035. In non-OECD countries, renewable generation is expected to grow 3.7% annually during the forecast period, growing to 4,995 GWh by 2035. Being a provider of renewable energy component solutions for the solar and wind power industries, the company could benefit from the growing renewable energy market.
Threat
Intense competition
3M operates in rapidly evolving and intensely competitive segments. As the company is a diversified manufacturing company, it faces intense competition from various large scale companies in its existing businesses. Some of its competitors have greater financial and other resources than the company. It faces direct competition from Balchem Corporation, Bayer AG, Bostik S.A., Cardinal Health, Inc., Checkpoint Systems, Inc., CONMED Corporation, H.B. Fuller Company, Honeywell International Inc., Illinois Tool Works Inc., ITT Corporation, Sika AG, and Tyco International plc, among others. Hence, intense competition in the industry could lead to pricing pressures, thereby decreasing the product demand, market share and margins for the company.
Foreign currency fluctuations
3M operates in more than 70 countries across the Americas, Europe, Middle East, and Africa (EMEA), and Asia Pacific. The company's financial statements are denominated in US Dollars and nearly 60% of the company's revenues are derived from outside the US. Therefore, the company is subject to foreign currency risks due to fluctuations in exchange rates. The company's results of operations and its ability to realize projected growth rates in sales and earnings could be adversely affected if the US Dollar strengthens significantly against foreign currencies. 3M is also exposed to the translation of foreign currency earnings to the US Dollar. The company enters into foreign exchange forward and option contracts to hedge against the effect of exchange rate fluctuations on cash flows denominated in foreign currencies. However, there is no guarantee that these hedging techniques will provide a complete protection against risks pertaining to foreign currency exchange rate fluctuations. Hence, foreign currency exchange rates and fluctuations in those rates may affect the company's net investment in foreign subsidiaries and may cause fluctuations in cash flows, sales and earnings related to foreign denominated transactions.
Environmental law compliance
3M's manufacturing operations are affected by national, state and local environmental laws around the world. These regulations are related to air emissions, wastewater discharges, toxic substances, handling
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and disposal of solid and hazardous wastes enforced by national, state, and local authorities around the world, and private parties in the US and abroad. These laws and regulations provide, under certain circumstances, a basis for the remediation of contamination, for restoration of or compensation for damages to natural resources, and for personal injury and property damage claims. 3M has made, and plans to continue making necessary expenditures for compliance with applicable laws. The company is also involved in remediation actions relating to environmental matters from past operations at certain sites. The company has incurred, and will continue to incur, costs and capital expenditures in complying with these laws and regulations. Hence, the additional resources required for complying with the environmental laws and regulations could increase the compliance costs, which in turn would increase the company's operating costs impacting its margins.
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Top Competitors
TOP COMPETITORS
The following companies are the major competitors of 3M Company
Balchem Corporation Bayer AG Bostik SA Cardinal Health, Inc. Checkpoint Systems, Inc. CONMED Corp Danaher Corporation General Electric Company H.B. Fuller Company Honeywell International Inc. Illinois Tool Works Inc. ITT Inc. Johnson & Johnson Sika AG Textron Inc. Tyco International plc
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Company View
COMPANY VIEW
A statement by Mr. Michael F. Roman, Chairman and the Chief Executive Officer of 3M Co is given below. This statement has been taken from company’s 2019 annual report.
Fellow shareholders,
Everything 3M does is guided by our vision: 3M Technology Advancing Every Company 3M Products Enhancing Every Home 3M Innovation Improving Every Life
This vision resonates deeply with our 96,000 employees around the world, and helps drive our purpose as an enterprise. Every day we use science to solve problems and improve lives, and we are committed to delivering value for all of the stakeholders who have placed their trust in us: our customers, shareholders, employees, communities and business partners.
2019 Performance Throughout 2019 3M faced declines in key end markets — specifically China, automotive and electronics — which represent approximately 30% of our total sales. In the face of these challenges, I am encouraged how our team stepped up our execution, made improvements to our operations and drove strong cash flow as we moved through the year.
For the full year we posted organic growth of -1.5%, along with earnings of $7.81 per share, or $9.10 on an adjusted basis. We expanded free cash flow by 10% year-over-year to $5.4 billion — an all-time high for our enterprise — while delivering a strong conversion rate of 118%. We posted a good return on invested capital of 18% — including the impact of acquisitions — along with operating margins of 19%. On an adjusted basis, our team delivered operating margins of nearly 22%, even while reducing inventory levels by $370 million — which reflects the strength of the 3M model. Finally, in 2019 we returned $4.7 billion to our shareholders through dividends and share repurchases, and last year marked 3M’s 61st consecutive year of dividend increases.
Transforming for the future Beyond financial results, I view 2019 as a fundamentally significant year for 3M as we implemented major change to position us for the future.
In last year’s Annual Report, I wrote about the strength and vitality of the 3M Value Model. Our company has deep competitive advantages that we leverage across our businesses — unique technology platforms, advanced manufacturing, leading brands, and global capabilities — all of which make 3M greater than the sum of our parts.
It is our responsibility to constantly build on that foundation, which we are doing through our four priorities for long-term growth and value creation: Transformation, Portfolio, Innovation, and People & Culture.
Transformation
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3M has been on a journey to transform how we work, serve customers and compete. We have deployed a new companywide information technology ecosystem, including a new enterprise resource planning (ERP) system. Enabled by this ecosystem, we’ve rolled out new standardized business processes, service models and digitalization capabilities across 3M. In Europe and Canada — where we are furthest along in our transformation — we are seeing enhanced customer service, improved margins, better use of data analytics and lower inventories.
In 2019 we began to take the next step in our transformation journey, including a new global operating model and streamlined organizational structure. In April we moved from five to four business groups to better align around our customers and go-to-market models. We have since reorganized the entire company around our new business groups to take full advantage of our transformation capabilities. On January 1st, 2020 we implemented a new, streamlined global operating model designed to improve growth and operational efficiency. In the new model, our business groups have full responsibility for all facets of strategy, portfolio and resource prioritization across our entire global operations. Under the prior model, area and country teams — which comprised 3M’s International organization — set priorities in their regions. All of our International people now report into the business groups and functions they are part of.
This new model will drive more accountability to our business groups to strengthen performance and serve both global and local customers, while enabling stronger customer insights and more powerful innovation. It will empower our people with more freedom to make decisions, and make us more efficient by reducing layers, streamlining structure and simplifying reporting lines. It will also allow us to leverage similarities across markets, while maintaining the robust local capabilities that differentiate 3M.
In addition to our new model, in 2019 we made changes to the way we support our business groups. To optimize the customer experience in each of our go-to-market models, we consolidated manufacturing, supply chain and customer operations into a seamless, end-to-end Enterprise Operations organization. We also brought together key capabilities as part of a new global Corporate Affairs organization in order to advance our brand and reputation. And we are realigning all existing corporate functions to drive more effective operations across geographies.
Ultimately, this is a defining moment for our enterprise. We are modernizing how we run our business and building an organization for the future, and I am more confident than ever in our journey to transform into a more agile efficient, and competitive enterprise. Portfolio The ongoing review and reshaping of 3M’s portfolio is key to maximizing value across our company. Since 2012 we have moved from 40 businesses to 23, while completing more than ten divestitures and 14 acquisitions. In 2019 we continued to actively manage our portfolio, with particular progress in strengthening our health care business.
We acquired Acelity — which accelerates 3M as a leader in advanced wound care — along with M*Modal’s technology business, an ideal fit within our health information systems business. The integration of Acelity is going well and the business is off to a good start, and M*Modal is outperforming our expectations for both growth and income. We have also announced the planned divestiture of our drug delivery business, which will enable us to focus more resources on our core health care portfolio.
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Beyond our efforts in health care, last year we sold our gas and flame detection business, and in early 2020 we finalized the sale of our ballistic protection business. Managing our portfolio is an ongoing process, and we will continue to act on opportunities to maximize value across 3M.
Innovation Innovation differentiates 3M in the marketplace, and supports organic growth and our long track record of delivering premium margins and return on invested capital. In 2019 we invested $3.6 billion in the combination of research and development and cap-ex, which enable us to both invent and manufacture new and unique solutions for customers. Last year we also expanded 3M’s periodic table to 51 technology platforms, and we continue to see strong returns from our priority growth platforms which serve emerging and fast-growing markets. In 2019 these platforms grew 10%,as we create differentiated solutions for customers in areas such as automotive electrification, connected safety and structural adhesives.
In 2019 we moved our St. Paul headquarters to 100% renewable electricity, while committing to move our entire global operations to renewable electricity by 2050. Starting last year, we are also formally embedding sustainability into every new 3M product, meaning it must help solve an environmental or social challenge. To that end, we continue to produce a broad range of solutions that help our customers reduce their greenhouse gas emissions — from smog-reducing roofing granules, to films that make homes, electronics and automobiles more energy-efficient. And from a governance perspective, in 2019 our Board of Directors established a new Science, Technology and Sustainability committee to ensure we are building on our strong innovation capabilities, while advancing our already-high product stewardship standards.
Our commitment to sustainability includes stewardship of water, and active management of PFAS (per- and polyfluoroalkyl substances) related issues. In this, as with everything, we are guided by the principles of sound science, corporate responsibility and transparency, and are committed to being part of the solution. I encourage you to visit our PFAS Stewardship website to learn more about the actions we are taking.
People & Culture In 2019 we took significant action to develop our people and continue to advance our culture. 3M’s transformation initiatives are at the center of these efforts. Our transformation journey is as much a cultural change as it is a technology change. We are simplifying workflows, equipping employees with new tools, and empowering them with more autonomy to increase speed and service to our customers. I am pleased with how our team is embracing these changes.
In 2019 we took significant action to develop our people and continue to advance our culture. 3M’s transformation initiatives are at the center of these efforts. Our transformation journey is as much a cultural change as it is a technology change. We are simplifying workflows, equipping employees with new tools, and empowering them with more autonomy to increase speed and service to our customers. I am pleased with how our team is embracing these changes.
Overall, I am pleased with the progress we made against each of our strategic priorities in 2019. As a result, we are well-positioned to improve our performance and return to growth in 2020. Moving forward, I know there is a lot more we can and must do to reach our full potential as an enterprise. Our entire team
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is focused on delivering extraordinary value for all of our stakeholders — including premium returns for you, our shareholders.
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Locations And Subsidiaries
LOCATIONS AND SUBSIDIARIES
Head Office
3M Company 3M Center Saint Paul Minnesota Saint Paul Minnesota USA Phone:1 651 7331110 www.3m.com
Other Locations and Subsidiaries
3M Cogent Inc. USA
3M Gulf Ltd. PO Box 20191 Dubai Internet City Building @ 11 Dubai Dubai ARE Phone:971 4 3670777 Fax:971 4 3670998
3M Ireland Limited The Iveagh Building The Park Carrickmines Dublin 18 IRL
3M KOREA CO.,LTD. KOR
3M New Ventures ESPE Platz Seefeld Sachsen Seefeld Sachsen DEU Phone:49 081 527000 Fax:49 081 527001366 www.3m.com
3M Poland Sp zoo Al. Katowice 117 Kajetany Nadarzyn Greater Poland Nadarzyn Greater Poland POL Phone:48 22 7396000 www.solutions.3mpoland.pl
3M Specialty Materials (Shanghai) Co., Ltd. CHN
3M Ventures USA
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- Company Overview
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- Business Description
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- Major Products & Services
- SWOT Analysis
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