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• The 3M Company, formerly known as the Minnesota Mining and
Manufacturing Company, is an American multinational
conglomerate corporation based in St. Paul, Minnesota. 3M headquarters are
in the St. Paul suburb of Maplewood, Minnesota.
• With $30 billion in sales, 3M employs 88,000 people worldwide and
produces more than 55,000 products,
including:adhesives, abrasives, laminates, passive fire protection, dental and
orthodontic products, electronic materials, medical products, car-care
products (sun films, polish, wax, car shampoo, treatment for the exterior,
interior and the under chassis rust protection), electronic circuits, and optical
films. 3M has operations in more than 65 countries including 29 international
companies with manufacturing operations and 35 companies with
laboratories. 3M products are available for purchase through distributors and
retailers in more than 200 countries, and online directly from the company.
HISTORY
•
Five businessmen founded 3M in Two Harbors, Minnesota, in 1902. Originally
a mining venture, the goal was to mine corundum, but this failed because the
mine's mineral holdings were anorthosite, which had no commercial value. Cofounder John Dwan solicited funds in exchange for stock and Edgar Ober and
Lucius Ordway took over the company in 1905. The company moved to Duluth and
began research and producing sandpaper products. William L. McKnight, later a
key executive, joined the company in 1907, and A. G. Bush joined in 1909. 3M
finally became financially stable in 1916 and was able to pay dividends.
Expansion
• The company's late innovations include waterproof sandpaper (1921) and masking
tape (1925), as well as cellophane "Scotch Tape" and sound-deadening materials
for cars.
• During the 1950s, the company expanded worldwide with operations in Canada,
Mexico, France, Germany, Australia, and the United Kingdom in large part by
Clarence Sampair. In 1951, international sales were approximately $20 million.
3M’s achievements were recognized by the American Institute of Management
naming the company “one of the five best-managed companies in the United
States" and included it among the top 12 growth stocks (3M).
• 3M Mincom was involved in some of the first digital
audio recordings of the late 1970s to see commercial release when
a prototype machine was brought to the Sound 80 studios
in Minneapolis. After drawing on the experience of that prototype
recorder, 3M later introduced in 1979 a commercially available
digital audio recording system called the "3M Digital Audio
Mastering System", which consisted of a 32-track digital audio tape
recorder and a companion 4-track digital recorder for final
mastering. 3M later designed and manufactured several other
commercially available models of digital audio recorders used
throughout the early to mid-1980s.
• On August 30, 2010, 3M announced that they had acquired Cogent
Systems for $943 million.
• On October 13, 2010, 3M completed acquisition of Arizant Inc. In
December 2011, 3M completed the acquisition of the Winterthur
Technology Group, a bonded abrasives company.
• 3M follows a business model based on "the ability to not only
develop unique products, but also to manufacture them efficiently
and consistently around the world (3M)".
Environmental record
• In 1999 the U.S. Environmental Protection Agency (EPA) began
investigating perfluorinated chemicals (PFCs) after receiving data on
the global distribution and toxicity of PFOS. 3M, the former primary
producer of PFOS from the U.S., announced the phase-out of
PFOS, PFOA, and PFOS-related product production in May
2000. PFCs produced by 3M were used in non-stick cookware and
stain-resistant fabrics.
• In 2002, 3M ranked 70th on the Political Economy Research
Institute's (PERI) list of the top 100 corporations emitting airborne
pollutants in the U.S. In March 2010, PERI ranked 3M at 98th place
on the list.
• In 2008, 3M created the Renewable Energy Division within 3M’s
Industrial and Transportation Business to focus on Energy
Generation and Energy Management.
• In late 2010, the state of Minnesota sued 3M claiming they released
PFCs, a very toxic chemical according to the EPA but unknown at the
time of release, into local waterways.
• 3M traffic signals installed in
Shelton,Washington.
• The Target Light
System, built by 3M at
Target headquarters
in Minneapolis.
• The building in which the company was
founded is now a museum