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3 M Company
1. 3M
The 3M computer is not related to this company.
3M Company
Public (NYSE: MMM)
Type
Two Harbors, MN, USA (1902)
Founded
Henry S. Bryan
Hermon W. Cable
John Dwan
Founder(s)
William A. McGonagle
Dr. J. Danley Budd
Maplewood, MN, USA
Headquarters
Worldwide
Area served
George W. Buckley (CEO)
Key people
(Chairman) & (President)
Conglomerate
Industry
Adhesives
Abrasives
Products
List of products
US$ 37.59 billion (2009)
Market cap
▲ US$ 24.462 billion (2007) [2]
Revenue
▲ US$ 6.193 billion (2007)
Operating income
2. ▲ US$ 4.096 billion (2007) [3]
Net income
▲ US$ 24.694 billion (2007)
Total assets
▲ US$ 11.747 billion (2007)
Total equity
75,000 (2008)
Employees
3M.com
Website
3M Company (NYSE: MMM), formerly Minnesota Mining and Manufacturing Company
until 2002, is an American multinational conglomerate corporation with a worldwide presence.
With over 75,000 employees they produce thousands of products, including: adhesives,
abrasives, laminates, passive fire protection, dental products, electrical materials, electronic
circuits and optical films.[1] 3M has operations in more than 60 countries – 29 international
companies with manufacturing operations, and 35 with laboratories. 3M products are available
for purchase through distributors and retailers in more than 200 countries, and many 3M
products are available online directly from the company.
Contents
1 History
o 1.1 Founding
o 1.2 Expansion
2 Environmental record
3 Operating facilities
4 Products
5 Corporate governance
o 5.1 Current officers
o 5.2 Presidents
o 5.3 Chief executive officers
o 5.4 Chairmen of the board
6 See also
7 References
8 External links
History
3. 3M started out on the North Shore of Lake Superior at Two Harbors, Minnesota in 1902. The
company then moved to Duluth, Minnesota, and then again to Saint Paul, Minnesota. 3M stayed
for 15 years before outgrowing the campus and moving to its current headquarters in Maplewood
(a St. Paul suburb), where it is still based today. The new campus in Maplewood is 475 acres
(1.92 km2) and has over 50 buildings, bike paths, flowers, and an 'innovation center' that displays
products 3M has brought to market. The company began by mining stone from quarries for use
in grinding wheels. Struggling with quality and marketing of its products, top management
supported its workers to innovate and develop new products, which eventually would develop
into its core business. Twelve years after being founded, 3M was able to develop its first
exclusive product: 3M Three-M-ite cloth. Other innovations around this time by 3M included
waterproof sandpaper and masking tape. After this point, the famous Scotch brand tape was
“born.” By 1929 3M made its first moves in to an international expansion by forming “Durex” in
order to conduct business in Europe. This same year, the company’s stocks were first traded over
the counter and in 1946 the stocks were listed on the New York Stock Exchange (NYSE). The
company is currently a component of the Dow Jones Industrial Average and of the S&P 500.
Founding
3M was founded by Henry S. Bryan, Herman W. Cable, John Dwan, William A,
McGonagle,Tahir Farhad, and Dr. J. Danley Budd. The founders' original plan was to sell the
mineral corundum to manufacturers in the East for making grinding wheels. After selling only
one load, on [June 13, 1902 the five went to the Two Harbors office of company secretary John
Dwan, which was on the shore of Lake Superior and is now part of the 3M Museum, and signed
papers making Minnesota Mining and Manufacturing a corporation. In reality, however, Dwan
and his associates were not selling what they thought; they were in fact selling the worthless
mineral anorthosite.[2]
Failing to make sandpaper with the anorthosite, the founders decided to import minerals like
Spanish garnet, after which sale of sandpapers grew. In 1914, customers complained that the
garnet was falling off the paper. The founders discovered that the stones had traveled across the
Atlantic Ocean packed with olive oil, and the oil had penetrated the stones. Unable to take the
loss of selling expensive inventory, they simply roasted the stones over a fire to remove the olive
oil. This was the first instance of research and development at 3M.
In 1916 company general manager William L. McKnight applied the same scientific methods to
production that he had used to save the company from bankruptcy,and bought the company's first
lab for $500.
Expansion
The company's early innovations include waterproof sandpaper (1921) and masking tape (1925),
as well as cellophane quot;Scotch Tapequot; and sound deadening materials for cars. 3M's corporate
image is built on its innovative and unique products, with up to 25% of sales each year from new
products[citation needed].
4. After World War II 3M opened plants across the United States. During the 1950s the company
expanded worldwide with operations in Canada, Mexico, France, Germany, Australia, and the
United Kingdom in large part by Clarence Sampair. In 1951, international sales were
approximately $20 million. 3M’s achievements were recognized by the American Institute of
Management naming the company “one of the five best-managed companies in the United States
and included it among the top 12 growth stocks (3M).”[3]
In the late 1960s and early 1970s, 3M published a line of board games, largely under the quot;3M
bookshelf game seriesquot; brand. These games were marketed to adults and sold through
department stores, with easily learned simple rules but complex game play and depth and with
uniformly high quality components. As such, they are the ancestors of the German quot;Eurogamesquot;.
The games covered a variety of topics, from business and sports simulations to word and abstract
strategy games. They were a major publisher at the time for influential American designers Sid
Sackson and Alex Randolph. In the mid-1970s, the game line was taken over by Avalon Hill.
In 1969, 3M introduced its first and only traffic signal, the Model 131. Labeled a quot;programmable
visibilityquot; signal, the signal had the unique ability to be quot;programmedquot; so it was visible from
certain angles. The Model 131's quot;programmabilityquot; was achieved via masking a clear glass lens
with aluminum adhesive tape. [4][5] It was the first of its type and one of only two of the design
in history. 3M sold these signals for special-use applications, such as left turn signals, skewed
intersections, or dangerous intersections where a very bright indication is needed. The signals are
very heavy and expensive to maintain, and removal is quite frequent in some areas. In addition to
the 3M Model 131 traffic signal, 3M also marketed and sold a retrofit kit for 12-inch (300 mm)
conventional signals using modified M-131 optics, a retrofit kit for eight-inch (203 mm)
conventional signals using a smaller version of the M-131 optical assembly, a Model 130
Programmable Visibility pedestrian signal (a M-131 with pedestrian signal indications), and a
few bi-modal modifications of the M-131. As of 2005, 3M no longer manufactures the signals
but has continued to supply parts for them.
3M's Mincom division introduced several models of magnetic tape recorders for instrumentation
use and for studio sound recording. An example of the latter is the model M79 recorder [6],
which still has a following in recording circles today. 3M Mincom was also involved in
designing and manufacturing video production equipment for the television and video post-
production industries in the 1970s and 1980s, with such items as character generators and several
different models of video switchers, from models of audio and video routers to video mixers for
studio production work.
3M Mincom was involved in some of the first digital audio recordings of the late 1970s to see
commercial release when a prototype machine was brought to the Sound 80 studios in
Minneapolis. After drawing on the experience of that prototype recorder, 3M later introduced in
1979 a commercially available digital audio recording system called the quot;3M Digital Audio
Mastering Systemquot; [7], which consisted of a 32-track digital audio tape recorder and a
companion 4-track digital recorder for final mastering. 3M later designed and manufactured
several other commercially available models of digital audio recorders used throughout the early
to mid-1980s.
5. In 1980 the company introduced Post-it notes. In 1996, the company's data storage and imaging
divisions were spun off as the Imation Corporation. Imation has since sold its imaging and
photographic film businesses to concentrate on storage.
Today 3M is one of the 30 companies included in the Dow Jones Industrial Average (added on
August 9, 1976), and is ranked number 101 on the As of 2006 Fortune 500 listing. The company
has 132 plants and over 67,000 employees worldwide, with sales offices in over 200 countries.
The vast majority of the company's employees are local nationals, with few employees residing
outside their home country. Its worldwide sales are over $20 billion, with international sales 58%
of that total.
On December 20, 2005, 3M announced a major partnership with Roush-Fenway Racing, one of
NASCAR's premier organizations. In 2008 the company will sponsor Greg Biffle in the
NASCAR Sprint Cup Series as he drives the #16 Ford Fusion. In addition, on February 19, 2006,
3M announced that it would become the title sponsor of the 3M Performance 400 at Michigan
International Speedway for at least the next three years.
On April 4, 2006, 3M announced its intention to sell pharmaceutical non-core business. The
pharmaceuticals businesses were sold off in three deals, in Europe, the Americas, and the rest of
the world. Another division of the Health Care business, Drug Delivery Systems remains with
3M. The Drug Delivery System division continues to contract manufacture inhalants and
transdermal drug delivery systems and has now taken on manufacture of the products whose
licenses were sold during the divestiture of the pharmaceuticals business.[4] On September 8],
2008, 3M announced an agreement to acquire Meguiar's, a car care products company that was
family-owned for over a century.[5]
Today, after 100 years, 3M follows a business model based on “the ability to not only develop
unique products, but also to manufacture them efficiently and consistently around the world
(3M).”[6]
Environmental record
6. The Target Light System, built by 3M.[7]
In 1999, the (EPA) began investigating perfluorinated
chemicals (PFCs) after receiving data on the global distribution and toxicity of PFOS,[8] the
former key ingredient in Scotchgard.[9] For these reasons, 3M, the former primary American
producer of PFOS, announced in May 2000, the phaseout of the production of PFOS, PFOA, and
PFOS-related products.[10] The PFCs that were produced were related to non-stick cookware,
stain resistant fabrics, and other similar products.[11] The PFCs were also released into the
immediate environment surrounding the Cottage Grove facility starting in the 1940s and lasting
until 2002.[12] In response to PFC contamination of the Mississippi River and surrounding area,
3M states that the area will be quot;cleaned though a combination of groundwater pumpout wells and
soil sediment excavation.quot;[11] The plan for the restoration of the area includes a complete analysis
of the entire company property and surrounding lands.[13] The on-site water treatment facility that
handles the plant's post-production water is not capable of removing the PFCs, which were
pumped into the nearby Mississippi River.[12] Estimates on the total cost of the clean-up to be
incurred by 3M range from 50-56 million dollars, which will come out of the $147 million pot
the company set aside in 2006 to deal with environmental issues relating to the company.[14] The
search area for PFCs in the Mississippi River now extends to five states, spanning approximately
half of the river's total distance.[15] Perfluorochemicals do not break down or degrade in the
environment.[11]
In 2002 3M rated as number 70 out of the United States 100 top air polluters on the PERI Toxic
100 list, producing 4.75 million pounds of air pollutants every year.[16] The Cottage Grove site
represents 3M's third highest pollutant producing facility, releasing 244,715 lb (111,001 kg). of
pollution into the air yearly.[17]
In 2008, it has created the 3M Renewable Energy Division within 3M’s Industrial and
Transportation Business and will focus on Energy Generation and Energy Management [18][19] .
7. Operating facilities
3M’s general offices, corporate research laboratories, and certain division laboratories are
located in St. Paul, Minnesota. In the United States, 3M has nine sales offices in eight states and
operates 74 manufacturing facilities in 27 states. Internationally, 3M has 148 sales offices. The
Company operates 93 manufacturing and converting facilities in 32 countries outside the United
States.[20]
3M owns substantially all of its physical properties. 3M’s physical facilities are highly suitable
for the purposes for which they were designed. Because 3M is a global enterprise characterized
by substantial intersegment cooperation, properties are often used by multiple business
segments.[21]
Selected factory detail information:
Cynthiana, Kentucky, USA factory producing 650 - 700 trailers of Post-It notes (672
SKU) and scotch tape (147 SKU). It has 539 employees and was established in 1969.[22]
It still accounts for nearly all of the world's production.
Newton Aycliffe, County Durham, UK factory producing respirators for workers safety,
using laser technology. It has 370 employees and recently there was an investment of
£4,5 million ($9 million).[23][24]
Products
ACCR
Bondo
Chrome & Metal Polish
Clarity
Coban
Command Adhesive
Dual Lock
Dobie
Dynatel
FastBond Adhesives
Filtrete
Hookit sandpaper
Littmann Stethoscopes
Nexcare
O-Cel-O
Post-it note
Scotch Tape
Scotch Magic Tape
Scientific Anglers
Scotch-Brand Masking Tape
Scotch-Brite
8. Scotchcal Film
Scotchgard
Scotchlite
Scotchprint Graphics
Scotch-Weld Adhesives
Stikit sandpaper
Tegaderm
Thinsulate
Velostat[25]
VHB
Vikuiti
Wetordry sandpaper
Microtouch Touch Screens
Corporate governance
Current officers
George W. Buckley[26] – Chairman, President and Chief Executive Officer
Patrick D. Campbell – Senior Vice President and Chief Financial Officer
Joe E. Harlan – Executive Vice President, Electro and Communications Business
Michael A. Kelly – Executive Vice President, Display and Graphics Business
Angela S. Lalor – Senior Vice President, Human Resources
Jean Lobey – Executive Vice President, Safety, Security and Protection Services
Business
Robert D. MacDonald – Senior Vice President, Marketing and Sales
Moe S. Nozari – Executive Vice President, Consumer and Office Business
Frederick J. Palensky – Executive Vice President, Research and Development and Chief
Technology Officer
Brad T. Sauer – Executive Vice President, Health Care Business
H.C. Shin – Executive Vice President, Industrial and Transportation Business
Marschall I. Smith – Senior Vice President, Legal Affairs and General Counsel
Inge G. Thulin – Executive Vice President, International Operations
John K. Woodworth – Senior Vice President, Corporate Supply Chain Operations
Presidents
1902–1905 Henry S. Bryan
1905–1906 Edgar B. Ober
1906–1909 Lucius P. Ordway
1909–1929 Edgar B. Ober
1929–1949 William L. McKnight
1949–1953 Richard P. Carlton
1953–1963 Herbert P. Buetow
9. 1963–1966 Bert S. Cross
Chief executive officers
1966–1970 Bert S. Cross
1970–1974 Harry Heltzer
1974–1979 Raymond H. Herzog
1979–1986 Lewis W. Lehr
1986–1991 Allen F. Jacobson
1991–2001 L.D. DeSimone
2001–2005 W. James McNerney, Jr.
2005 Robert S. Morrison (interim)
2005–present George W. Buckley
Chairmen of the board
1949–1966 William L. McKnight
1966–1970 Bert S. Cross
1970–1975 Harry Heltzer
1975–1980 Raymond H. Herzog
1980–1986 Lewis W. Lehr
1986–1991 Allen F. Jacobson
1991–2001 L.D. DeSimone
2001–2005 W. James McNerney, Jr.
2005–present George W. Buckley
See also
Endothermic
Fireproofing
Firestop pillow
Firestop
Intumescent
Passive fire protection
Sodium silicate
Sterilization (microbiology)
References
1. ^ http://solutions.3m.com/wps/portal/3M/en_US/our/company/information/about-us/ 3m.com -
Who We Are
10. 2. ^ MPR: 3M at 100 - on the right path for growth?
3. ^ solutions.3m.com
4. ^ 3M (2006-04-04). 3M to Explore Strategic Alternatives for its Branded Pharmaceuticals
Business. Press release. http://home.businesswire.com/portal/site/3m/index.jsp?epi-
content=GENERIC&newsId=20060404005553&ndmHsc=v2*A1133442000000*B11461235390
00*C4102491599000*DgroupByDate*G2*J2*N1000940&newsLang=en&beanID=75290669&v
iewID=news_view. Retrieved on 2006-04-24.
5. ^ Meguiar's Online - NEWS RELEASE - 3M to Acquire Meguiar's, Inc.
6. ^ solutions.3m.com
7. ^ Target Lights create evolving Minneapolis landmark, Minneapolis/St. Paul Business Journal ,
April 11, 2003.
8. ^ Aziz Ullah. quot;The Fluorochemical Dilemma: What the PFOS/PFOA fuss is all aboutquot; Cleaning
& Restoration. www.ascr.org, (October 2006). Accessed October 25, 2008.
9. ^ Kellyn S. Betts quot;Perfluoroalkyl Acids: What Is the Evidence Telling Us?quot; Environmental
Health Perspectives Volume 115, Number 5, May 2007. Accessed October 18, 2008.
10. ^ 3M: quot;PFOS-PFOA Information: What is 3M Doing?quot; Accessed October 25, 2008.
11. ^ a b c Cleaning up river site may cost 3M $18 million
12. ^ a b Perfluorochemials and the 3M Cottage Grove Facility: Minnesota Dept. Of Health
13. ^ Health Consultation: 3M Chemolite: Perfluorochemicals Releases at the 3M - Cottage Grove
Facility Minnesota Dept. of Health, Jan. 2005
14. ^ 3M submits plans to Minnesota for cleaning up PFCs in the east metro
15. ^ MPR: Search for PFC contamination in Mississippi River expands
16. ^ PERI - Political Economy Research Institute: Toxic 100 Table
17. ^ Toxic 100 Detailed Company Report
18. ^ http://solutions.3m.com/wps/portal/3M/en_US/global/sustainability/
19. ^ http://www.renewableenergyworld.com/rea/news/article/2009/02/3m-forms-renewable-energy-
division-54663
20. ^ 3M Company SEC Form 10K - Annual Report - filed 2/15/2008
21. ^ http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=5739314-51571-
52309&type=sect&dcn=0001104659-08-011226 3M Company SEC Form 10K - Annual Report -
filed 2/15/2008
22. ^ solutions.3m.com
23. ^ thenorthernecho.co.uk
24. ^ thenorthernecho.co.uk
25. ^ [1]
26. ^ CEO and Corporate Officers