3M Library Systems, a part of diversified conglomerate 3M Company (MMM - Analyst Report) , recently announced its plans to introduce a new standard for eBook and eAudiobook lending with the newest 3M Cloud Library patron application rolling out in early Aug 2014.
3M’s strategic move is intended to increase e-book and eAudiobook circulation and provide all the possible benefits and convenience to the users. The new application will help users to identify and implement the right solution for any e-book purchase. The new 3M Cloud Library application offers patron personalization and makes eBook lending, browsing and reading easier and users get ideas for better browsing and audio books. Along with an improved application, 3M Cloud Library’s features expand content offerings from new publishing partners, bringing the platform’s total title collection to more than 300,000 high-quality offerings.
The company will be presenting these new additions to its 3M Cloud Library portfolio at the American Library Association (ALA) Annual Conference to be held from Jun 26–Jul 1 in Las Vegas, NV.
3M remains focused on inventing new products and maintaining its competitive advantage worldwide. The rise in demand for such innovative 3M product services is likely to augment its overall revenues.
3M, together with its subsidiaries, operates as a diversified technology company with manufacturing operations spread over 70 countries worldwide. It has more than 35 business units organized into six segments: Consumer and Office, Display and Graphics, Electro and Communications, Healthcare, Industrial and Transportation, Safety, Security and Protection Services.
3M currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now include Hutchison Whampoa Ltd , Noble Group Limited and ITT Corporation (ITT - Analyst Report) , all carrying a Zacks Rank #2 (Buy).