It’s fair to say the company that we now call 3M was not an instant success. Following a failed attempt to mine corundum in 1902, the Minnesota Mining and Manufacturing Company changed hands and re-strategised. By 1905, it was producing sandpaper products. By 1916, it was finally financially stable.
There is no doubt, however, that this unsteady footing is long behind it. 3M is now a multinational conglomerate offering services across diverse industries, including worker safety, healthcare and consumer goods.
Today, the company employs around 95,000 staff in more than 70 countries and produces over 60,000 products across its various brands. Popular lines include adhesives, laminates, personal protective equipment, dental and orthodontic products, electrical and electronic connecting and insulating materials, and medical products.
In recent years 3M has generated on average around USD 35bn in annual sales and featured in the Fortune 500 list.
This astronomical success can be attributed to the company’s unwavering commitment to problem-solving, innovation and sustainability. Listed as one of the World’s Most Ethical Companies for nine years in succession, 3M is focused on helping its customers to be safe, productive and efficient. Such is the company’s commitment to innovation that it generates one-third of its revenues from products that didn’t exist five years ago.
Naturally, this global operation has attracted a lot of attention and many accolades. In recent years, 3M has been recognised as one of the Top 100 Global Innovators, ranked in the Best Global Brands, and was a finalist in the World Changing Ideas competition.
