3M made $35.4 billion in total sales in 2021 and ranked number 102 in theFortune 500 list of the largest United States corporations by total revenue.[10] As of 2021[update], the company had approximately 95,000 employees and operations in more than 70 countries.[11] There are a few international subsidiaries, such as 3M India, 3M Japan, and 3M Canada.[12]
In June 2023, 3M reached a settlement to pay more than $10 billion to US public water systems to resolve claims over the company's contamination of water withPFASs (so-called forever chemicals).[13] It has been revealed that the company knew of the health harms of PFAS in the 1990s, yet concealed these harms and continues to sell contaminated products.[14][15]
Five businessmen founded the Minnesota Mining and Manufacturing Company as a mining venture inTwo Harbors, Minnesota, making their first sale on June 13, 1902.[1] The goal was to minecorundum, a crystalline form ofaluminium oxide, which failed because the mine's mineral holdings wereanorthosite, afeldspar which had no commercial value. Co-founder John Dwan solicited funds in exchange for stock and Edgar Ober andLucius Ordway took over the company in 1905. The company moved toDuluth and began researching and producingsandpaper products.William L. McKnight, later a key executive, joined the company in 1907, andA. G. Bush joined in 1909. 3M finally became financially stable in 1916 and was able to paydividends.[16]
The company moved toSaint Paul in 1910, where it remained for 52 years before outgrowing the campus and moving to its current headquarters at 3M Center inMaplewood, Minnesota, in 1962.[17]
In 1947, 3M began producingperfluorooctanoic acid (PFOA), an industrialsurfactant and chemicalfeedstock, byelectrochemical fluorination.[18] In 1951,DuPont purchased PFOA from then-Minnesota Mining and Manufacturing Company for use in the manufacturing ofteflon, a product that brought DuPont a billion-dollar-a-year profit by the 1990s.[19] DuPont referred to PFOA as C8.[20] The original formula forScotchgard, a water repellent applied to fabrics, was discovered accidentally in 1952 by 3M chemistsPatsy Sherman andSamuel Smith. Sales began in 1956, and in 1973 the two chemists received a patent for the formula.[21][22]
In the late 1950s, 3M produced the firstasthma inhaler,[23] but the company did not enter the pharmaceutical industry until the mid-1960s with the acquisition of Riker Laboratories, moving it from California to Minnesota.[24] 3M retained the Riker Laboratories name for the subsidiary until at least 1985.[25] In the mid-1990s, 3M Pharmaceuticals, as the division came to be called, produced the firstCFC-free asthma inhaler in response to adoption of theMontreal Protocol by the United States.[26][27] In the 1980s and 1990s, the company spent fifteen years developing atopical cream delivery technology which led in 1997 to health authority approval and marketing of asymptomatic treatment forgenital warts,Aldara.[28][29] 3M divested its pharmaceutical unit through three deals in 2006, netting more thanUS$2 billion.[30][31] At the time, 3M Pharmaceuticals comprised about 20% of 3M's healthcare business and employed just over a thousand people.[30]
By the 1970s, 3M developed atheatrical blood formula based on red colorfastmicrobeads suspended in a carrier liquid.[32] This stage blood was sold as Nextel Simulated Blood[32][33] and was used during the production of the 1978 filmDawn of the Dead.[34] It has since been discontinued.[33]
In the late 1970s, 3M Mincom was involved in some of the firstdigital audio recordings to see commercial release when a prototype machine was brought to theSound 80 studios inMinneapolis. In 1979 3M introduced a digital audio recording system called "3M Digital Audio Mastering System".[35]
3M launched "Press 'n Peel" a stickybookmark page holder in stores in four cities in 1977, but the results were disappointing.[36][37] A year later 3M instead issued free samples of it as asticky note directly to consumers inBoise, Idaho, with 95% of those who tried them indicating they would buy the product.[36] The product was sold as "Post-Its" in 1979 when the rollout introduction began,[38] and was sold across the United States[38] from April 6, 1980.[39] The following year they were launched in Canada and Europe.[40]
On April 8, 2002, 3M's 100th anniversary, the company changed its legal name to "3M Company".[42][43] On September 8, 2008, 3M announced an agreement to acquire Meguiar's, a car-care products company that was family-owned for over a century.[44] In August 2010, 3M acquiredCogent Systems for $943 million,[45] and on October 13, 2010, 3M completed acquisition of Arizant Inc.[46] 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 theDow Jones Industrial Average, added on August 9, 1976, and was 97 on the 2011Fortune 500 list.[49] On January 3, 2012, it was announced that the Office and Consumer Products Division ofAvery Dennison was being bought by 3M for $550 million.[50] The transaction was canceled by 3M in September 2012 amid antitrust concerns.[51]
In May 2013, 3M soldScientific Anglers and Ross Reels toOrvis. Ross Reels had been acquired by 3M in 2010.[52]
In March 2017, 3M purchased Johnson Controls International Plc's safety gear business, Scott Safety, for $2 billion.[53]
In 2017, 3M had net sales for the year of $31.657 billion, up from $30.109 billion the year before.[54] In 2018, it was reported that the company would pay $850 million to end the Minnesota water pollution case concerningperfluorochemicals.[55]
On May 25, 2018,Michael F. Roman was appointed CEO by the board of directors.[56] 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.[57]
In October 2019, 3M purchasedAcelity and itsKCI subsidiaries for $6.7 billion, including assumption of debt and other adjustments.[58]
On May 1, 2020, 3M divested substantially all of its drug delivery business to an affiliate of Altaris Capital Partners, LLC. for approximately $650 million, including a 17% interest in the new operating company, Kindeva Drug Delivery.[59]
In December 2021, 3M announced that it would merge its food-safety business with food testing and animal healthcare products makerNeogen.[60] The deal, with an enterprise value of about $5.3 billion,[60] closed in September 2022.[61]
In July 2022, the company announced it would spin off its healthcare assets to form a new, independent firm, likely completing the transaction in 2023.[62] 3M will retain an ownership stake of 19.9% in the new, publicly-traded health care company and gradually divest the holdings.[62][63] The company will be known asSolventum Corporation.[64]
In December 2022, the company announced plans to stop producing and using so-calledforever chemicals (per and polyfluoroalkyl[65]), which have been commonly used in items such as food packaging, cellphones, nonstick pans, firefighting foams, and clothing. These chemicals are well known for their water-resistant and nonstick properties, but they are also dangerous pollutants that are linked to serious health problems, including ulcerative colitis and cancer.[66][67] The move comes as governments in the Netherlands and the United States consider actions against 3M.[68][69]
In March 2024, 3M announced the appointment ofWilliam "Bill" Brown as chief executive officer to take effect on May 1, 2024.Michael Roman would remain in the role of executive chairman. Brown, 61, is the former chairman of the board and chief executive officer ofL3Harris Technologies.[70]
As of 2019, 3M produces approximately 60,000 products,[71] and has four business groups focused on safety and industrial, transportation and electronics, health care, and consumer products.[72] 3M obtained its first patent in 1924 and acquires approximately 3,000 new patents annually. The company surpassed the 100,000-patent threshold in 2014.[73]
3M's Pollution Prevention Pays (3P) program was established in 1975. The program initially focused on pollution reduction at the plant level and was expanded to promote recycling and reduce waste across all divisions in 1989. By the early 1990s, approximately 2,500 3P projects decreased the company's total global pollutant generation by 50 percent and saved 3M $500–600 million by eliminating the production of waste requiring subsequent treatment.[75][76]
During the 1990s and 2000s, 3M reduced releases of toxic pollutants by 99 percent and greenhouse gas emissions by 72 percent. As of 2012, theUnited States Environmental Protection Agency (EPA) had awarded 3M with theEnergy Star Award each year that it has been presented.[78]
In 1999, the EPA began investigatingperfluorinated chemicals after receiving data on the global distribution and toxicity ofperfluorooctanesulfonic acid (PFOS).[79] These materials are part of a broad group of perfluoroalkyl and polyfluoroalkyl substances often referred to asPFAS, each of which has different chemical properties.[80] 3M, the former primary producer of PFOS from the U.S., announced the phase-out of PFOS,perfluorooctanoic acid, and PFOS-related product production in May 2000.[81][82] Perfluorinated compounds produced by 3M have been used in non-stick cookware, stain-resistant fabrics, and other products.
TheCottage Grove facility manufactured PFAS from the 1940s to 2002.[83] In response to PFAS contamination of theMississippi River and surrounding area, 3M stated the area will be "cleaned through a combination ofgroundwater pump-out wells and soil sediment excavation". The restoration plan was based on an analysis of the company property and surrounding lands.[84] The on-site water treatment facility that handled the plant's post-production water was not capable of removing PFAS, which were released into the nearby Mississippi River.[83] The clean-up cost estimate, which included a granular activated carbon system to remove PFAS from the ground water was $50 to $56 million,[85] funded from a $147 million environmental reserve set aside in 2006.[86]
In 2008, 3M created the Renewable Energy Division within 3M's Industrial and Transportation Business to focus on Energy Generation and Energy Management.[87][88]
In late 2010, the state of Minnesota sued 3M for $5 billion in punitive damages, claiming they releasedPFCs—classified a toxic chemical by the EPA—into local waterways.[89] A settlement for $850 million was reached in February 2018.[90][82][91] In 2019, 3M, along with theChemours Company andDuPont, appeared before lawmakers to deny responsibility, with company Senior VP of Corporate Affairs Denise Rutherford arguing that the chemicals pose no human health threats at current levels and that there were no victims.[92]
In 2021, research had determined that 3M'sZwijndrecht (Belgium) factory caused PFOS pollution that may be contaminating agricultural products within a 15 kilometer radius of the plant which includesAntwerp.[93][94] TheFlemish Government has paid 63 million euros for cleanup costs so far with 3M contributing 75,000 euros.[95] The Flemish Government issued measures advising against the consumption of, for example, home-grown eggs within a radius of 5 kilometers.[96]
In 2023, 3M reached an agreement to pay a $10.3bn settlement with numerous US public water systems to resolve thousands of lawsuits overPFAS contamination.[13]
3M reported TotalCO2e emissions (Direct + Indirect) for the twelve months ending December 31, 2020, at 5,280 Kt (-550 /-9.4% y-o-y)[97] and plans to reduce emissions 50% by 2030 from a 2019 base year.[98] The company also aims achieve carbon neutrality by 2050.[99]
3M's annual Total CO2e Emissions – Location-Based Scope 1 + Scope 2 (in kilotonnes)
The Combat Arms Earplugs, Version 2 (CAEv2), was developed by Aearo Technologies for U.S. military and civilian use. The CAEv2 was a double ended earplug that 3M claimed would offer users different levels of protection.[106] Between 2003 and 2015, these earplugs were standard issue to members of the U.S. military.[107] 3M acquired Aearo Technologies in 2008.[108]
In May 2016, Moldex-Metric, Inc., a 3M competitor, filed awhistleblower complaint against 3M under theFalse Claims Act. Moldex-Metric claimed that 3M made false claims to the U.S. government about the safety of its earplugs and that it knew the earplugs had an inherently defective design.[109] In 2018, 3M agreed to pay $9.1 million to the U.S. government to resolve the allegations, without admitting liability.[110]
Since 2018, more than 140,000 former users of the earplugs (primarily U.S. military veterans) have filed suit against 3M claiming they suffer from hearing loss,tinnitus, and other damage as a consequence of the defective design.[111]
Internal emails showed that 3M officials boasted about charging $7.63 per piece for the earplugs which cost 85 cents to produce. The company's official response indicated that the cost to the government includes R&D costs.[112]
3M settled close to 260,000 lawsuits in August 2023 by agreeing to pay $6 billion to current and former U.S. military members who were affected.[113]
TheN95 respirator mask was developed by 3M and approved in 1972.[114] Due to its ability to filter viral particulates, its use was recommended during theCOVID-19 pandemic but supply soon became short.[114] Much of the company's supply had already been sold prior to the outbreak.[115]
The shortages led to the U.S. government asking 3M to stop exporting US-made N95 respirator masks to Canada and to Latin American countries,[116] and PresidentDonald Trump invoked theDefense Production Act to require 3M to prioritize orders from the federal government.[117] The dispute was resolved when 3M agreed to import more respirators, mostly from its factories in China.[117]
3M later struck aCA$70M deal with the federal government of Canada and theOntario provincial government to produce N95 masks at their plant inBrockville, Ontario.[118]
3M's general offices, corporate research laboratories, and some division laboratories in the U.S. are inSt. Paul, Minnesota. In the United States, 3M operates 80 manufacturing facilities in 29 states, and 125 manufacturing and converting facilities in 37 countries outside the U.S. (in 2017).[119]
During March 2016, 3M completed a 400,000-square-foot (37,000 m2) research-and-development building on its Maplewood campus that cost $150 million. Seven hundred scientists from various divisions occupy the building. They were previously scattered across the campus. 3M hopes concentrating its research and development in this manner will improve collaboration. 3M received $9.6 million in localtax increment financing and relief from state sales taxes in order to assist with development of the building.[120]
Newton Aycliffe, County Durham, UK factory producing respirators for workers safety using laser technology. It has 370 employees.
In Minnesota, 3M'sHutchinson facility produces products for more than half of the company's 23 divisions, as of 2019.[122] The "super hub" has manufacturedadhesive bandages forNexcare, furnace filters, and Scotch Tape, among other products.[123][124] TheCottage Grove plant is one of three operated by 3M for the production of pad conditioners, as of 2011.[125]
3M has operated a manufacturing plant inColumbia, Missouri since 1970. The plant has been used for the production of products including electronic components[126][127] solar andtouchscreen films, andstethoscopes. The facility received a $20 million expansion in 2012 and has approximately 400 employees.[128][129]
3M'sSpringfield, Missouri plant opened in 1967 and makes industrial adhesives and tapes foraerospace manufacturers. In 2017, 3M had approximately 330 employees in themetropolitan area, and announced a $40 million expansion project to upgrade the facility and redevelop another building.[134]
InIowa, theAmes plant makessandpaper products and received funding from the Iowa Economic Development Authority (IEDA) for expansions in 2013 and 2018.[135][136] TheKnoxville plant is among 3M's largest and produces approximately 12,000 different products, including adhesives and tapes.[137]
3M's Southeast Asian operations are based in Singapore, where the company has invested $1 billion over 50 years. 3M has a facility inTuas, a manufacturing plant and Smart Urban Solutions lab inWoodlands, and a customer technical center inYishun.[138] 3M expanded a factory in Woodlands in 2011,[125] announced a major expansion of the Tuas plant in 2016,[138] and opened new headquarters in Singapore featuring a Customer Technical Centre in 2018.[139]
The company has operated in China since 1984,[140] and was Shanghai's firstWholly Foreign-Owned Enterprise.[141] 3M's seventh plant, and the first dedicated to health care product production, opened in Shanghai in 2007.[142] By October 2007, the company had opened an eighth manufacturing plant and technology center inGuangzhou.[140][143] 3M broke ground on its ninth manufacturing facility, for the production ofphotovoltaics and other renewable energy products, inHefei in 2011.[144] 3M announced plans to construct a technology innovation center inChengdu in 2015,[145] and opened a fifth design center in Shanghai in 2019.[146]
3M'sCEOs have included: Cross (1966–1970),[160] Heltzer (1970–1975),[151] Herzog (1975–1979),[160][161] Lehr (1979–1986),[162] Jacobson (1986–1991),[153] DeSimone (1991–2001),[154] McNerney (2001–2005),[155] Robert S. Morrison (2005, interim),[163] Buckley (2005–2012),[156][157] Thulin (2012–2018), and Roman (2018–present).[158]
3M'spresidents have included: Edgar B. Ober (1905–1929),[164] McKnight (1929–1949),[148][165] Richard P. Carlton (1949–1953),[166]Herbert P. Buetow (1953–1963),[167] Cross (1963–1966),[168] Heltzer (1966–1970),[149] and Herzog (1970–1975).[169] In the late 1970s, the position was separated into roles for U.S. and international operations. The position overseeing domestic operations was first held by Lehr,[161] followed by John Pitblado from 1979 to 1981,[170] then Jacobson from 1984 to 1991.[171] James A. Thwaits led international operations starting in 1979.[170] Buckley and Thulin were president during 2005–2012,[172] and 2012–2018, respectively.[158]
V. Huck,Brand of the Tartan: The 3M Story, Appleton-Century-Crofts, 1955. Early history of 3M and challenges, includes employee profiles.
C. Rimington,From Minnesota mining and manufacturing to 3M Australia Pty Ltd (3M Australia: the Story of an Innovative Company), Sid Harta Publishers, 2013. Recollections from 3M Australia employees in context of broader organisational history.
Sharon Lerner "How 3M Discovered, Then Concealed, the Dangers of Forever Chemicals[173]", New Yorker Magazine
^Prevedouros, Konstaninos; Cousins, Ian T.; Buck, Robert C.; Korzeniowski, Stephen H. (January 2006). "Sources, Fate and Transport of Perfluorocarboxylates".Environmental Science & Technology.40 (1):32–44.Bibcode:2006EnST...40...32P.doi:10.1021/es0512475.PMID16433330.
^abTheatre Crafts, Volume 23, Issues 1-5. Rodale Press. 1989. p. 12. RetrievedSeptember 15, 2020.Schaefer Applied Technology of Norwood, Massachusetts, has put Nextel Brand Simulated Blood back on the market. This stage blood developed by 3M, is based on colorfast red microbeads suspended in a carrier liquid, and contains no dyes, detergents, or sugar syrup, and will not cause staining or damage to existing dyes.
^abMartin, Douglas (September 28, 2005)."Harry Heltzer, 94, Inventor of Reflective Signs, Dies".The New York Times. RetrievedAugust 28, 2019.Nearly a third of that increase came after he rose from president to chairman and chief executive in October 1970.
^"3M Says Reputation Is Still Strong One".The New York Times. May 14, 1975. RetrievedAugust 28, 2019.Mr. Herzog was elected chairman at a board meeting after the stockholder session, succeeding Harry Heltzer. Mr. Herzog will continue as president and chief executive officer.
^abSchmitt, Eric (February 11, 1986)."Business People; 2 Top 3M Posts Go to Domestic Head".The New York Times. RetrievedAugust 28, 2019.The Minnesota Mining and Manufacturing Company announced yesterday that Allen F. Jacobson, president of the concern's domestic operations, had been named chairman and chief executive, effective March 1.
^abDash, Eric (December 8, 2005)."3M Finds Chief Without Reaching for a Star".The New York Times. RetrievedAugust 28, 2019.And yesterday, 3M named George W. Buckley, the low-profile leader of the Brunswick Corporation, as its new chairman and chief executive.
^abJensen, Michael C. (March 9, 1975)."How 3M Got Tangled Up in Politics".The New York Times. RetrievedAugust 28, 2019.Bert S. Cross, who was chairman and chief executive of 3M from 1966 to 1970, and a board member thereafter, will not seek re‐election to the board where he serves as chairman of the finance committee.
^Bustin, Greg (2019).How Leaders Decide: A Timeless Guide to Making Tough Choices. Naperville, Illinois: Sourcebooks. p. 41.ISBN978-1-4926-6759-9. RetrievedAugust 28, 2019.At the May 1905 annual meeting, Over was named 3M's new president. Apart from one three-year break, Over served as president until 1929—the first eleven years without compensation.
^Byrne, Harlan S. (July 3, 2000)."A Changed Giant".The Wall Street Journal. RetrievedAugust 28, 2019.The patient approach may have originated with W. L. McKnight, a legendary CEO who joined the company in 1907 and became president in 1929.
^Betz, Frederick (2011).3M Diversifies Through Innovation. Hoboken, New Jersey: John Wiley & Sons. p. 154.ISBN978-0-470-92757-1. RetrievedAugust 28, 2019.The award was named after Richard Carlton, president of 3M from 1949 to 1953.
^"Herbert Buetow, Manufacturer, 73".The New York Times. January 11, 1972. RetrievedAugust 28, 2019.He was president of 3‐M from 1953 to 1963 and retired from its board in 1968.
^abSloane, Leonard (August 17, 1981)."Business People".The New York Times. RetrievedAugust 28, 2019.
^Gilpin, Kenneth (November 5, 1984)."Business People; 3M Fills Top Post at Major Division".The New York Times. RetrievedAugust 28, 2019.Mr. Jacobson... fills a post that has been vacant since the end of 1981, when John Pitblado retired.
US$24.58 billion (2024)
US$4.822 billion (2024)
