Formerly known as the Minnesota Mining and Manufacturing Company, the company was founded in 1902 as a mining company. With total assets of around 38 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 at 2016, the company’s number of employees was recorded to be 91,536 worldwide.
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. In 2016, 3M accounted for around 4.6 percent of the sales share of the leading adhesive vendors in the United States and, in that same year, 3M’s Scotch was ranked among the leading adhesive brands in the United States.
3M currently runs a diversified field of operation through business segments that include: Industrial, Safety & Graphics, Health Care, Electronics & Energy, as well as a Consumer segment. Additionally, it operates a Corporate and Unallocated segment, as well as a segment for Elimination of Dual Credit.