Formerly known as the Minnesota Mining and Manufacturing Company, the company was founded in 1902 as a mining company. With total assets of around 45 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 2018, the company’s number of employees was recorded to be 96,163 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. 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 a manufacturer of face masks and hand sanitizer, 3M stands to have a sales boost of up to one billion U.S. dollars in 2020 due to the COVID-19 coronavirus.
3M currently runs a diversified field of operation through business segments that include: Industrial, 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.