3M Company Business Report up until FY ended Dec. 2010

Business Highlights

Recent Years


-In Dec. 2010, the Company announced that it has acquired the business of Nida-Core Corp. Nida-Core, based in Port St. Lucie, Florida, US., manufactures honeycomb composite materials for various applications such as cars, trucks and buses. The acquisition agreement also provides for the acquisition by the Company of the business of France-based Structiso Sarl, a company affiliated with Nida-Core. The acquisition of Structiso is expected to be completed to be early in the second quarter of 2011. Terms of transaction were not disclosed. (From a press release on December 30, 2010)

-In March 2008, Dyneon LLC, the Company, announced that it has acquired the business of Hitech Polymers Inc., a manufacturer of specialty thermoplastic polymers and provider of toll thermoplastic compounding services. Hitech Polymers employs approximately 15 people at its facility in Hebron, Ky. Dyneon manufactures high-performance materials in its fluoroplastics, fluoroelastomers and specialty additives product lines. Thermoplastics are used in the creation of a vast range of plastic components—from plastic bottles and molded parts to pumps and valves—for multiple markets such as consumer, packaging, electronics, construction, and transportation. (From a press release on Mar. 4, 2008)

-In March 2005, the Company completed the purchase from TI&M Beteilingunsgesellschaft mbH of 19 percent of I&T Innovation Technology (I&T), which was founded in Austria in 1999. The Company and I&T will collaborate to deliver flat flexible wiring systems for automotive interior applications to the global automotive market. The purchase price was approx. $55 million and the Company has a purchase option to buy an additional 31% investment of I&T.


R&D Structure

-During 1999, the Company established a Technical center in Livonia, Michigan to strengthen its R&D capabilities for the OEM market. The new technical center will develop acoustic insulation products, filters, adhesive, and interior/ exterior trim.

Technological Alliance.

-In January 2008, Visteon Corporation and the Company announced a global advanced technology collaboration at a 2008 International Consumer Electronics Show (CES). The companies unveiled a jointly developed demonstration vehicle showcasing more than 50 technologies designed to enhance the driving experience. The collaboration paves the way for the two companies to develop consumer-focused original equipment and aftermarket automotive products that capitalize on the expertise of each company. These technologies are solution based, addressing six social trends: comfort, connectivity, convenience, health, flexibility (individualism), and sensory. For example, the vehicle's center stack electronics has the capability to link the user's personal devices -- such as an iPod or mobile phone -- to the vehicle's audio system, allowing the vehicle controls to become the user interface. The two companies plan to unveil another demonstration vehicle in Europe later in 2008. (From a press release on Jan. 7, 2008)

Investment Activities

Capital Expenditure

(in million dollars)
  FY ended Dec. 31, 2010
Overall 1,091
Industrial and Transportation 331

Investment Outside USA

-In April 2008, the Company announced its intent to build a new facility in Singapore to produce coatings for film-based products used in commercial, electronic and automotive applications. By establishing a local film coating center of excellence, the facility will help the company better serve the Asia market and support efforts to accelerate growth. Construction on the new facility, which will be located in the Tuas Industrial Park, will begin in the second quarter of 2008 and is expected to be completed in 2009. (From a press release on Apr. 28, 2008)