Diversified technology conglomerate 3M Company (MMM - Free Report) recently introduced a new product with an advanced liquid pavement marking technology to meet the evolving requirements of the traffic safety and security division. The strategic move is expected to augment 3M’s Display and Graphics segment revenues and strengthen its position as a premier manufacturer of prismatic reflective sheeting for traffic signs, bright and durable pavement markings, reflective materials for work zone applications, and roadway asset management systems and services.
The new product named ‘3M Liquid Pavement Marking Series 5000’ features the most sophisticated form of plural-component polyurea to facilitate maximum visibility, easy application and extended durability. The product utilizes wear-resistant polymers to resist discoloration and has superior adhesion capabilities fit for application on a wide variety of substrates.
In addition, the new product has low viscosity to pour and apply with ease across the entire application temperature range. All these indigenous features allow the product to be utilized for marking long-lines, channelizing lines, gore markings and intersection markings on all common road surface types. On top of it, the product is backed by the superior technical and customer service of 3M.
Consistent with its long-term strategy of accelerating investments in high-growth programs, 3M strives to deliver sustainable increases in sales, earnings and free cash flow. The company’s ability to convert high R&D spends into up-cycle market share gains, pricing power, and margin determines its success over the years.
Formerly known as Minnesota Mining and Manufacturing Company, 3M was founded in 1902 and is currently based in St. Paul, Minnesota. The company operates as a diversified technology enterprise with manufacturing operations across 70 countries. It has more than 35 business units organized into six segments: Consumer and Office; Display and Graphics; Electro and Communications; Healthcare; Industrial and Transportation; and Safety, Security and Protection Services.
3M has been continuously upgrading its product portfolio to fight against stiff competition from other leading players in the industry such as China Merchants Holdings (International) Company Limited , Koninklijke KPN N.V. , and Jardine Strategic Holdings Ltd. , each carrying a Zacks Rank #1 (Strong Buy). 3M presently has a Zacks Rank #3 (Hold).