3M - statistics & facts
The 3M Company is an American multinational technology company that engages in the manufacture of industrial, safety and consumer goods, and equipment. 3M was previously known as the Minnesota Mining and Manufacturing Company. 3M is ranked—as of May 5, 2023 — in eighth place among the world’s largest conglomerates, close to companies such as Siemens and General Electric. In 2023, the net sales of 3M Company stood at 32.7 billion U.S. dollars. The company is currently headquartered in Maplewood, Minnesota.
With a diverse portfolio spanning various industries, 3M continues to make significant contributions to science and technology. However, it’s important to acknowledge some of the controversies that have impacted 3M’s reputation. Notably, the company has faced significant legal challenges related to the contamination of water systems with PFAS. The legacy of 3M is thus a complex one, reflecting both its achievements and its failures. As the company moves forward, it must continue to address these issues and ensure a more sustainable and responsible future.
From humble beginnings to a global company today
Formerly known as the Minnesota Mining and Manufacturing Company, the company was founded in 1902 as a mining company. With total assets of around 50.58 billion U.S. dollars, the company has since grown to become one of the major adhesive and sealants manufacturing companies in the world as well as the number one household tape vendor in the United States. As of 2023, the company’s number of employees was recorded to be 85,000 worldwide.3M's diverse range of products
3M offers a wide range of products such as: adhesives, abrasives, laminates, passive fire and personal protective equipment, electronic materials, medical and car-care products, as well as electronic circuits, healthcare software, and optical films. Among these product categories are several well known brands that belong to the conglomerate: Post-it notes, Nexcare bandages, Scotch Tape, Scotch-Brite, Bondo, Thinsulate, and much more. As one of the world's major manufacturers of N95 face masks, 3M significantly ramped up production during 2020 due to skyrocketing demand as a result of the COVID-19 pandemic.3M's segments
3M currently runs a diversified field of operation through business segments that include: Safety and Industrial, Transportation and Electronics, Health Care, as well as a Consumer segment. Additionally, it operates a Corporate and Unallocated segment, as well as a segment for Elimination of Dual Credit.With a diverse portfolio spanning various industries, 3M continues to make significant contributions to science and technology. However, it’s important to acknowledge some of the controversies that have impacted 3M’s reputation. Notably, the company has faced significant legal challenges related to the contamination of water systems with PFAS. The legacy of 3M is thus a complex one, reflecting both its achievements and its failures. As the company moves forward, it must continue to address these issues and ensure a more sustainable and responsible future.
