|Last Price||208.23||Max Price||244.14|
|Min Price||178.62||1 Year return||-11.77|
|Avg. Target||208.38||Expected Return||-0.02 %|
|Annual report 2017|
3M is a Multinational company previously branded as Minnesota Mining &
Manufacturing Company which is a U.S international conglomerate corporation and is
situated in St. Paul (Maplewood), Minnesota, United States. 3M is having an overall presence in worldwide markets with more than 84,000 employees worldwide, producing more than 55,000 types of goods which include adhesives, laminates, abrasives, fire safeguards, medical & dental products, electronic supplies, car care products (sun films, polish, wax, car shampoo etc), electronic circuits & optical films and generating more than $30 Billion in sales. At Present 3M is operating in more than 65 countries worldwide, in only United States, 3M has 9 sales offices in 8 states and operates 74 manufacturing units in 27 states. 3M has 148 sales offices globally & manages 93 manufacturing & converting services in 32 countries outside United States.
3M was a business venture which was worked upon by 5 businessmen and as a result of their hardwork 3M Company was formed in Two Harbors, Minnesota in the year 1902. In the beginning it was a mining venture and was a big failure as the aim was to mine corundum but mine’s mineral deposits were anorthosite, which has no commercial value.
3M turned out to be financially stable in 1916 and paying dividends too. As a part of international expansion 3M form Durex to carry out business in Europe. In the year 1929,
3M stocks we first traded over the counter & in 1946 these stock were listed on the New
York Stock Exchange (NYSE). This company is presently a major constituent of the Dow Jones Industrial Average and also of the S&P 500. 3M expansion was a result of many innovations which comprise of waterproof sandpaper (1921), Scotch Tape, sound deadening materials for cars and masking tape (1925). 3M's corporate icon is result of its exclusive, innovative products which added up to 33% of sales each year from only new products. In the year 1950s the company expanded its operations in Canada, Mexico, France, Germany, Australia, and the United Kingdom and a year later their global sales were just more than $20 million. American Institute of Management recognized all the accomplishments & named 3M as “one of the five bestmanaged companies in the United States" and also incorporated it along with the Top 12 growth stocks.
3M follows a business model based on "the skill to not only build exclusive products, but also to produce them efficiently and consistently around the world”. 3M is one of the 30 companies integrated in the Dow Jones Industrial Average (added on August 9, 1976), and is on number 97 on the 2011 Fortune 500 list. Its worldwide sales are over $20 billion, with international sales 58% of that total. 3M purchased Arizant Inc on 13 Oct 2010 and in December 2011 acquired Winterthur Technology Group (a bonded abrasives company). On 3 Jan 2012, 3M also bought Office and Consumer Products of Avery Dennison for $550 million.