3M Company profile
Glimpse of 3M
3M (MMM) is an American science-based corporation, headquartered in Maplewood, Minnesota. It was founded in 1902 as a small-scale mining company. Formerly known as the Minnesota Mining and Manufacturing Company, the global conglomerate supplies more than 60,000 products across multiple markets – from abrasives and adhesives to health care and highway safety – which are used in homes, hospitals, schools, businesses, and other industries.
Company organisation
3M is split into 26 business units, managed under the following five business groups:
- Consumer: innovative products delivered under this segment are intended for keeping homes, offices and buildings cleaner and well-maintained. The business group is home to such iconic 3M’s brands as Post-it®, Command™, Scotch™, Scotch-Brite®, Nexcare™ and Filtrete™.
- Electronics & Energy: this division delivers solutions for clients in the electronics and energy markets globally. 3M’s platforms power cars, homes and cities, as well as makes a considerable contribution to renewable energy.
- Health Care: 3M is a worldwide leader in medical and oral care solutions, as well as the delivery of drugs and health information systems. The business group supplies innovative solutions that help healthcare professionals enhance the quality of care.
- Industrial: this business division provides thousands of products, including abrasives, adhesives, filtration systems, specialty materials, tapes, and more, to diverse markets – from purification to aerospace, construction to maintenance of land, etc.
- Safety & Graphics: 3M’s products created under this group are intended for improving the security and safety of people, roads, systems and facilities. This division also offers a rich portfolio of graphic solutions to enhance visual communication.
Locations
The company is based in Maplewood, Minnesota, but operates in 29 US states and 70 countries globally. 3M’s team of scientists and researchers work in laboratories in 36 countries. Overall, the corporation employs around 90,000 people.
R&D and patents
3M treats its research and development as ‘the heartbeat’ of the conglomerate. Thus, the management invests around 5.8% of the company’s sales back into science.
3M employs 8,100 researchers worldwide, of which 4,300 are based in the United States. The researchers and scientists bring more than 3,000 patents annually. Overall, 3M holds more than 109,000 patents.
Technology
3M’s broad technology portfolio embraces 46 technology platforms, including adhesives, abrasives, electronics and software, light management, microreplication, nanotechnology, nonwoven materials, surface modification and more. More than 60,000 products created by the conglomerate are delivered to be sold in 200 countries globally.
Listing
Since 1946, 3M has been listed on the New York Stock Exchange (NYSE) under the ticker MMM. The company is currently included in the Fortune 500 list and its shares are part of the S&P 100 and S&P 500 indices. 3M is one of 30 member companies of the Dow Jones Industrial Average and has been listed on Dow Jones Sustainability Index for 17 years in a row.
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