3M Company | Introduction
Introduction
3M Center
St. Paul, Minnesota 55144-1000
U.S.A.
Telephone: (651) 733-1110
Toll Free: (800) 364-3577
Fax: (651) 736-2133
Web site: http://www.3M.com
Public Company
Incorporated: 1902 as Minnesota Mining and Manufacturing Company
Employees: 68,774
Sales: $16.33 billion (2002)
Stock Exchanges: New York Chicago Pacific Swiss
Ticker Symbol: MMM
NAIC: 313320 Fabric Coating Mills; 314999 All Other Miscellaneous Textile Product Mills; 321114 Wood Preservation; 322222 Coated and Laminated Paper Manufacturing; 322233 Stationery, Tablet, and Related Product Manufacturing; 325211 Plastics Material and Resin Manufacturing; 325411 Medicinal and Botanical Manufacturing; 325412 Pharmaceutical Preparation Manufacturing; 325510 Paint and Coating Manufacturing; 325520 Adhesive and Sealant Manufacturing; 325612 Polish and Other Sanitation Good Manufacturing; 325991 Custom Compounding of Purchased Resins; 325998 All Other Miscellaneous Chemical Product and Preparation Manufacturing; 326112 Unsupported Plastics Packaging Film and Sheet Manufacturing; 326113 Unsupported Plastics Film and Sheet (Except Packaging) Manufacturing; 326199 All Other Plastics Product Manufacturing; 327910 Abrasive Product Manufacturing; 332999 All Other Miscellaneous Fabricated Metal Product Manufacturing; 333314 Optical Instrument and Lens Manufacturing; 333411 Air Purification Equipment Manufacturing; 334417 Electronic Connector Manufacturing; 334510 Electromedical and Electrotherapeutic Apparatus Manufacturing; 335931 Current-Carrying Wiring Device Manufacturing; 339112 Surgical and Medical Instrument Manufacturing; 339113 Surgical Appliance and Supplies Manufacturing; 339114 Dental Equipment and Supplies Manufacturing
The largest manufacturer in Minnesota, the 110th largest U.S. company overall, and a member of the Dow Jones "30," 3M Company (known officially as Minnesota Mining and Manufacturing Company from its founding in 1902 until 2002) is Wall Street's epitome of high-tech/low-tech business and solid bluechip performance. Its daunting inventory of some 50,000 products runs the gamut from Post-it Notes and Scotch tape to transdermal patches of nitroglycerin and a prescription cream for treating genital warts. Its equally daunting global presence extends to subsidiary companies in more than 60 countries and markets in nearly 200, as well as net sales from international operations of $8.91 billion, or 55 percent of the company's total 2002 revenue. 3M owes its formidable strength to its unusual corporate culture, which comfortably fosters innovation and interdepartmental cooperation, backed by a massive research and development budget, which typically exceeds $1 billion annually. Because of this, 3M ranks as a leader in—and in many cases a founder of—a number of important technologies, including pressure-sensitive tapes, sandpaper, protective chemicals, microflex circuits, reflective materials, and premium graphics. At the beginning of 2003, the company realigned into seven major business units: Consumer and Office; Display and Graphics; Electro and Communications; Health Care; Industrial; Safety, Security, and Protection Services; and Transportation.