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PROJECT REPORT ON 3M
SCIENCE. APPLIED TO LIFE
MAY 12, 2020
AKSHAT CHAUHAN
OTPE38
Table of Contents
Company Information................................................................................................................... 2
History.....................................................................................................................................2
Mission ....................................................................................................................................2
Vision.......................................................................................................................................2
Milestone.................................................................................................................................3
Recent News About The Company............................................................................................. 4
N95 Masks Lift First Quarter...................................................................................................4
Products And Services Offered By The Company............................................................................. 5
3MBusiness Segments.............................................................................................................. 5
Industrial .............................................................................................................................. 5
Safety And Graphics .............................................................................................................. 5
Health Care........................................................................................................................... 5
Electronics And Energy ..........................................................................................................5
Consumer............................................................................................................................. 5
Competitor Analysis...................................................................................................................... 6
Staples.....................................................................................................................................6
Office Depot............................................................................................................................. 6
Avery Dennison Corporation......................................................................................................6
TE Connectivity......................................................................................................................... 6
General Electric........................................................................................................................ 6
Company Informationi
The 3M Company is an American multinational conglomerate corporation operating in
the fields of industry, worker safety, US health care, and consumer goods. It is founded on
June 13,1902 by four businessman John Dwan, Hermon Cable, Henry Bryan, William A.
McGonagle.The companyproducesover60,000productsunderseveralbrands including
adhesives, abrasives, laminates, passive fire protection, personal protective equipment,
window films, paint protection films etc with a workforce of 96,163 employees. The total
operating income of the company as on December 31,2019 was $6174 Million.
Historyii
∞ The 3M Company began in 1902 in Two Harbors, Minnesota. Originally the company,
then named Minnesota Mining and Manufacturing, was involved in mining a mineral
deposit for grinding wheel abrasives.
∞ Three yearslater the companymoved to Duluthto focuson manufacturingsandpaper
products. In 1910 investor Lucius Pond Ordway moved the company from Duluth to
the east side of St. Paul where it developed and manufactured an increasing number
and variety of products, including such household necessities as masking tape and
"Scotch Cellophane Tape." 3M steadily expanded and diversified, paying its first
dividend in 1916.
∞ In 1929 3M Company registered with the Minnesota Secretary of State as a foreign
business corporation, marking its evolution into a multinational conglomerate
corporation. For many years 3M headquarters were in St. Paul near its extensive
manufacturing plants.
∞ Later the headquarters was moved to a corporate campus in nearby Maplewood,
Minnesota. It's manufacturing operations are now spread out in many Minnesota
locations, including Alexandria, Cottage Grove, Eden Prairie, Fairmont, Hutchinson,
and New Ulm, and other locations in the United States and around the world.
Missioniii
“3M is committed to actively contributing to sustainable development through
environmental protection, social responsibility, and economic progress.”
The focus of this company is to leave an impact on all aspects of the society through its
products. The statement has the following primary components.
∞ Improving lives
∞ Exceeding expectations
Vision
“3M products enhancing every home. 3M innovation improving every life.”
Milestoneiv
∞ On its 100th anniversary, 3M officially changed its legal name to "3M Company" on
April 8, 2002. On September 8, 2008, 3M announced an agreement to acquire
Maguire’s, a car-care products company that was family-owned for over a century.
∞ 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.
∞ As of 2012, 3M was one of the 30 companies included in the Dow Jones Industrial
Average, added on August 9, 1976, and was 97 on the 2011 Fortune 500 list.
∞ On January 3, 2012, it was announced that the Office and Consumer Products Division
of Avery Dennison was being bought by 3M for $550 million.
∞ The transaction was cancelled by 3M in September 2012 amid antitrust concerns. In
May 2013,3M announced that it was selling Scientific Anglersand RossReels to Orvis.
Ross Reels had been acquired by 3M in 2010.
∞ In March 2017, it was announced that 3M was purchasing Johnson Control
International Plc's safety gear business, Scott Safety, for $2 billion. In 2017, 3M had
net sales for the year of $31.657 billion, up from $30.109 billion the year before.
∞ In 2018, it was reported that the company would pay $850 million to end the
Minnesota water pollution case concerning perfluorochemicals.
∞ On May 25, 2018, Michael F. Roman was appointed CEO by the board of directors. As
of August 2018, 3M India Ltd. was the only listed 3M Company subsidiary.
∞ On December 19, 2018, 3M announced it had entered into a definitive agreement to
acquire the technology business of M*Modal, for a total enterprise value of $1.0
billion.
∞ In October 2019, 3M completed the purchase of Aseity and its KCI subsidiaries
worldwide for $6.7 billion, including assumption of debt and other adjustments.
Recent News About The Companyv
Industrial conglomerate 3M Co’s quarterly profit surpassed expectations boosted by
higher demand for its N95 respirator masks during the ongoing coronavirus pandemic
sending its shares up as much as 6%.
3M is the world’s biggest maker of the masks and has seen demand increases as the
outbreak spread globally. The worldwide lockdowns however are harming other parts of
its businessand it reportedfall in revenueat its all units except healthcareand consumer.
The Minnesota-based company pulled its 2020 outlook citing economic uncertainty due
to the pandemic and also suspended its share repurchase.
The company now expects 2020 capex to be about $1.3 billion compared to its prior
estimate of $1.6 billion to $1.8 billion. Beginning May 3M said it would begin reporting
monthly sales information to provide transparency on its ongoing business performance
as it navigates the pandemic.
N95 Masks Lift First Quarter
First-quartersalesrose2.7% to $8.08billion beating market expectationsof $7.91 billion.
In January the company said it was doubling its global output of N95 masks, designed to
filter 95% of airborne particles to 1.1 billion annually.
U.S. sales rose 10.1%, while Asia-Pacific sales fell 5.4%, and Europe, Middle East and
Africa reported declines of 2.1%.
3M’s key market China reported a contraction in its economy for the first time on record
as the coronavirus shut down factories and malls and put millions out of work.
Net income attributable to 3M increase to $1.29 billion or $2.22 per share in the quarter
ended March 31, from $891 million or $1.51 per share. On an adjusted basis it earned
$2.16 per share beating expectations of $2.03 per share.
Products And Services Offered By The Companyvi
3M has identified 46 technology platforms that are broadly classified into following 5
categories.
1. Applications
2. Processing
3. Software, Analysis and Control
4. Materials
5. Biotech
3M Business Segments
Industrial
The Industrial segment products include Tapes, bonded abrasives, adhesives, advanced
ceramics, sealants, filtration products, personal hygiene closure systems, acoustic
systems, and precision grinding technology and products.
Safety And Graphics
This segment’sproductsinclude personalprotectionproducts, suchas certain disposable
and reusable respirators, personal protective equipment, head and face protection, body
protection, hearing protection and protective eyewear.
Health Care
In the medical and surgical areas, 3M is a supplier of medical tapes, dressings, wound
closure products, orthopaedic casting materials, electrodes and stethoscopes. 3M
markets a variety of surgical drapes, masks and preps.
Electronics And Energy
This segment also provides desktop and notebook computer screen filters. Major
electronics products also include packaging and interconnection devices; high
performance fluids and abrasives used in the manufacture of computer chips, and for
cooling electronics and lubricating computer hard disk drives.
Consumer
Consumer business has world’s best-known brands, including Post-it, Scotch, Scotch-
Brite, Filtrate, Nexcare, and Command. This segment contains innovative products that
keep homes cleaner, offices organized and buildings well-maintained.
Competitor Analysisvii
3M competitors include Owens Corning, Avery Dennison, Corning, Office Depot and
Autoliv. 3M ranks 2nd in Overall Culture Score on Comparably vs its competitors.
Staples
Staples helps the world work better with work solutions that deliver industry-leading
products, services and expertise across office supplies, facilities, breakroom, furniture,
technology, promotional products, and print & marketing services. Headquartered near
Boston, MA, Staples operates in North America.
Office Depot
Office Depot is a leading provider of business services and supplies, products and
technology solutions through its fully integrated omni-channel platform of
approximately 1,400 stores, online presence, and dedicated sales professionals and
technicians to small, medium and enterprise businesses. The company has combined
annual sales of approximately $11 billion.
Avery Dennison Corporation
Avery Dennison Corporation is an American company, it is a major manufacturer and
distributor of pressure-sensitive adhesive materials, apparel branding labels and tags,
RFID inlays, and specialty medical products worldwide. The company is a member of the
Fortune 500 and is headquartered in Glendale, California.
TE Connectivity
TE Connectivity is a Swiss-domiciled technology companythat designsand manufactures
connectivity and sensor products for harsh environments in a variety of industries, such
as automotive, industrial equipment, data communication systems, aerospace, defence,
medical, oil and gas, consumer electronics and energy.
General Electric
General Electric Company is a global digital industrial company. The Company's products
and services range from aircraft engines, power generation, and oil and gas production
equipment to medical imaging, financing and industrial products. Its segments include
Power which includes products and services related to energy production.
i https://www.3mindia.in/3M/en_IN/company-in/about-3m/
ii https://libguides.mnhs.org/3m
iii https://mission-statement.com/3m/
iv https://chiefexecutive.net/3m-is-a-purpose-driven-company-says-ceo-michael-roman/
v https://in.reuters.com/article/3m-results/3m-profit-jumps-as-world-masks-up-for-coronavirus-
idINKCN22A2MO
vi https://www.investopedia.com/articles/markets/022015/how-3m-makes-its-money.asp
vii https://economictimes.indiatimes.com/3m-india-ltd/quotecompare/companyid-12690.cms

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3 m company

  • 1. PROJECT REPORT ON 3M SCIENCE. APPLIED TO LIFE MAY 12, 2020 AKSHAT CHAUHAN OTPE38
  • 2. Table of Contents Company Information................................................................................................................... 2 History.....................................................................................................................................2 Mission ....................................................................................................................................2 Vision.......................................................................................................................................2 Milestone.................................................................................................................................3 Recent News About The Company............................................................................................. 4 N95 Masks Lift First Quarter...................................................................................................4 Products And Services Offered By The Company............................................................................. 5 3MBusiness Segments.............................................................................................................. 5 Industrial .............................................................................................................................. 5 Safety And Graphics .............................................................................................................. 5 Health Care........................................................................................................................... 5 Electronics And Energy ..........................................................................................................5 Consumer............................................................................................................................. 5 Competitor Analysis...................................................................................................................... 6 Staples.....................................................................................................................................6 Office Depot............................................................................................................................. 6 Avery Dennison Corporation......................................................................................................6 TE Connectivity......................................................................................................................... 6 General Electric........................................................................................................................ 6
  • 3. Company Informationi The 3M Company is an American multinational conglomerate corporation operating in the fields of industry, worker safety, US health care, and consumer goods. It is founded on June 13,1902 by four businessman John Dwan, Hermon Cable, Henry Bryan, William A. McGonagle.The companyproducesover60,000productsunderseveralbrands including adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window films, paint protection films etc with a workforce of 96,163 employees. The total operating income of the company as on December 31,2019 was $6174 Million. Historyii ∞ The 3M Company began in 1902 in Two Harbors, Minnesota. Originally the company, then named Minnesota Mining and Manufacturing, was involved in mining a mineral deposit for grinding wheel abrasives. ∞ Three yearslater the companymoved to Duluthto focuson manufacturingsandpaper products. In 1910 investor Lucius Pond Ordway moved the company from Duluth to the east side of St. Paul where it developed and manufactured an increasing number and variety of products, including such household necessities as masking tape and "Scotch Cellophane Tape." 3M steadily expanded and diversified, paying its first dividend in 1916. ∞ In 1929 3M Company registered with the Minnesota Secretary of State as a foreign business corporation, marking its evolution into a multinational conglomerate corporation. For many years 3M headquarters were in St. Paul near its extensive manufacturing plants. ∞ Later the headquarters was moved to a corporate campus in nearby Maplewood, Minnesota. It's manufacturing operations are now spread out in many Minnesota locations, including Alexandria, Cottage Grove, Eden Prairie, Fairmont, Hutchinson, and New Ulm, and other locations in the United States and around the world. Missioniii “3M is committed to actively contributing to sustainable development through environmental protection, social responsibility, and economic progress.” The focus of this company is to leave an impact on all aspects of the society through its products. The statement has the following primary components. ∞ Improving lives ∞ Exceeding expectations Vision “3M products enhancing every home. 3M innovation improving every life.”
  • 4. Milestoneiv ∞ On its 100th anniversary, 3M officially changed its legal name to "3M Company" on April 8, 2002. On September 8, 2008, 3M announced an agreement to acquire Maguire’s, a car-care products company that was family-owned for over a century. ∞ 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. ∞ As of 2012, 3M was one of the 30 companies included in the Dow Jones Industrial Average, added on August 9, 1976, and was 97 on the 2011 Fortune 500 list. ∞ On January 3, 2012, it was announced that the Office and Consumer Products Division of Avery Dennison was being bought by 3M for $550 million. ∞ The transaction was cancelled by 3M in September 2012 amid antitrust concerns. In May 2013,3M announced that it was selling Scientific Anglersand RossReels to Orvis. Ross Reels had been acquired by 3M in 2010. ∞ In March 2017, it was announced that 3M was purchasing Johnson Control International Plc's safety gear business, Scott Safety, for $2 billion. In 2017, 3M had net sales for the year of $31.657 billion, up from $30.109 billion the year before. ∞ In 2018, it was reported that the company would pay $850 million to end the Minnesota water pollution case concerning perfluorochemicals. ∞ On May 25, 2018, Michael F. Roman was appointed CEO by the board of directors. As of August 2018, 3M India Ltd. was the only listed 3M Company subsidiary. ∞ On December 19, 2018, 3M announced it had entered into a definitive agreement to acquire the technology business of M*Modal, for a total enterprise value of $1.0 billion. ∞ In October 2019, 3M completed the purchase of Aseity and its KCI subsidiaries worldwide for $6.7 billion, including assumption of debt and other adjustments.
  • 5. Recent News About The Companyv Industrial conglomerate 3M Co’s quarterly profit surpassed expectations boosted by higher demand for its N95 respirator masks during the ongoing coronavirus pandemic sending its shares up as much as 6%. 3M is the world’s biggest maker of the masks and has seen demand increases as the outbreak spread globally. The worldwide lockdowns however are harming other parts of its businessand it reportedfall in revenueat its all units except healthcareand consumer. The Minnesota-based company pulled its 2020 outlook citing economic uncertainty due to the pandemic and also suspended its share repurchase. The company now expects 2020 capex to be about $1.3 billion compared to its prior estimate of $1.6 billion to $1.8 billion. Beginning May 3M said it would begin reporting monthly sales information to provide transparency on its ongoing business performance as it navigates the pandemic. N95 Masks Lift First Quarter First-quartersalesrose2.7% to $8.08billion beating market expectationsof $7.91 billion. In January the company said it was doubling its global output of N95 masks, designed to filter 95% of airborne particles to 1.1 billion annually. U.S. sales rose 10.1%, while Asia-Pacific sales fell 5.4%, and Europe, Middle East and Africa reported declines of 2.1%. 3M’s key market China reported a contraction in its economy for the first time on record as the coronavirus shut down factories and malls and put millions out of work. Net income attributable to 3M increase to $1.29 billion or $2.22 per share in the quarter ended March 31, from $891 million or $1.51 per share. On an adjusted basis it earned $2.16 per share beating expectations of $2.03 per share.
  • 6. Products And Services Offered By The Companyvi 3M has identified 46 technology platforms that are broadly classified into following 5 categories. 1. Applications 2. Processing 3. Software, Analysis and Control 4. Materials 5. Biotech 3M Business Segments Industrial The Industrial segment products include Tapes, bonded abrasives, adhesives, advanced ceramics, sealants, filtration products, personal hygiene closure systems, acoustic systems, and precision grinding technology and products. Safety And Graphics This segment’sproductsinclude personalprotectionproducts, suchas certain disposable and reusable respirators, personal protective equipment, head and face protection, body protection, hearing protection and protective eyewear. Health Care In the medical and surgical areas, 3M is a supplier of medical tapes, dressings, wound closure products, orthopaedic casting materials, electrodes and stethoscopes. 3M markets a variety of surgical drapes, masks and preps. Electronics And Energy This segment also provides desktop and notebook computer screen filters. Major electronics products also include packaging and interconnection devices; high performance fluids and abrasives used in the manufacture of computer chips, and for cooling electronics and lubricating computer hard disk drives. Consumer Consumer business has world’s best-known brands, including Post-it, Scotch, Scotch- Brite, Filtrate, Nexcare, and Command. This segment contains innovative products that keep homes cleaner, offices organized and buildings well-maintained.
  • 7. Competitor Analysisvii 3M competitors include Owens Corning, Avery Dennison, Corning, Office Depot and Autoliv. 3M ranks 2nd in Overall Culture Score on Comparably vs its competitors. Staples Staples helps the world work better with work solutions that deliver industry-leading products, services and expertise across office supplies, facilities, breakroom, furniture, technology, promotional products, and print & marketing services. Headquartered near Boston, MA, Staples operates in North America. Office Depot Office Depot is a leading provider of business services and supplies, products and technology solutions through its fully integrated omni-channel platform of approximately 1,400 stores, online presence, and dedicated sales professionals and technicians to small, medium and enterprise businesses. The company has combined annual sales of approximately $11 billion. Avery Dennison Corporation Avery Dennison Corporation is an American company, it is a major manufacturer and distributor of pressure-sensitive adhesive materials, apparel branding labels and tags, RFID inlays, and specialty medical products worldwide. The company is a member of the Fortune 500 and is headquartered in Glendale, California. TE Connectivity TE Connectivity is a Swiss-domiciled technology companythat designsand manufactures connectivity and sensor products for harsh environments in a variety of industries, such as automotive, industrial equipment, data communication systems, aerospace, defence, medical, oil and gas, consumer electronics and energy. General Electric General Electric Company is a global digital industrial company. The Company's products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power which includes products and services related to energy production.
  • 8. i https://www.3mindia.in/3M/en_IN/company-in/about-3m/ ii https://libguides.mnhs.org/3m iii https://mission-statement.com/3m/ iv https://chiefexecutive.net/3m-is-a-purpose-driven-company-says-ceo-michael-roman/ v https://in.reuters.com/article/3m-results/3m-profit-jumps-as-world-masks-up-for-coronavirus- idINKCN22A2MO vi https://www.investopedia.com/articles/markets/022015/how-3m-makes-its-money.asp vii https://economictimes.indiatimes.com/3m-india-ltd/quotecompare/companyid-12690.cms