Company Summary
Conglomerate 3M’s focus on business transformation — with moves like the localization of decision making and integration of supply chains — enhances its competitive advantage. Also, its recognized product brands and investments in innovation are compelling. Inorganic actions (buyouts and divestments) are added advantages.
Headquartered in St. Paul, MN, and founded in 1902, 3M Company together with its subsidiaries operates as a diversified technology firm. It has manufacturing operations across the globe and serves diversified customer base primarily in the United States, Europe, Middle East and Africa; Latin America/Canada; and the Asia Pacific regions.
In July 2022, 3M announced plans to spin off its Health Care business into a separate public company. The company completed the spin-off in April 2024. The spin-off 3M's healthcare unit will facilitate the company to flourish through better operational focus, capital allocation policies and financial flexibility.
Post the spin-off of the Health Care segment, the company has three business segments.
The Safety & Industrial segment (44.7% of 2023 net revenues) mainly serves customers in the electrical, safety and industrial markets across the globe. The segment includes industrial adhesives and tapes, personal safety, abrasives, closure and masking systems, roofing granules, electrical materials and automotive aftermarket businesses.
The Transportation & Electronics segment (34.7%) primarily serves original equipment manufacturers (OEMs) in the electronics and transportation industries across the globe. The segment includes electronics, commercial solutions, advanced materials, transportation safety, automotive and aerospace, and other related businesses.
The Consumer segment (20.6%) provides office supplies, retail abrasives, paint accessories, stationery, home improvement products, homecare products and consumer healthcare products. Some of its brands include ACE, FUTURO, Nexcar, Scotch-Brite, Command, Post-it, Scotchgard and Scotch tapes among others.