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. Being one of the largest manufacturers of respiratory masks, the coronavirus outbreak added to the company’s growth potential.

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. The company has four business segments.

The Safety & Industrial segment 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 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 Health Care segment engages in serving customers in the global healthcare industry. Businesses within the segment are oral care, medical solutions, food safety, separation and purification sciences, and health information systems businesses.

The Consumer segment provides office supply, stationery, home improvement products, homecare products and consumer healthcare products.