3M, originally known as the Minnesota Mining and Manufacturing Company, is a multinational conglomerate based in the United States. Founded in 1902, the company started as a mining venture and has since grown into a global powerhouse with a diversified portfolio in industries such as consumer goods, healthcare, transportation, electronics, and safety products. 3M is widely recognized for its commitment to innovation, with over 60,000 products in its catalog and a presence in over 70 countries worldwide.
With a focus on solving problems through science and technology, 3M invests heavily in research and development, employing more than 8,000 scientists globally. The company's products are integral to various industries, from its famous Post-it Notes and Scotch Tape to cutting-edge solutions in the medical and industrial sectors. 3M’s mission is to improve daily lives by creating sustainable solutions that enhance productivity, safety, and convenience.
CEO and Founder of 3M
3M was founded in 1902 by five businessmen: Henry S. Bryan, William A. McGonagle, John Dwan, Hermon W. Cable, and Dr. J. Danley Budd. Initially, the company was focused on mining corundum, a mineral for making sandpaper. However, 3M’s founders soon realized the need to diversify, and by the 1920s, they began developing innovative products such as masking tape and waterproof sandpaper.
Today, 3M is led by Mike Roman, who became the CEO in 2018. Under Roman’s leadership, 3M has continued its tradition of innovation while focusing on sustainability and global expansion. The company's ability to adapt to changing markets and consumer needs has ensured its status as one of the world’s most trusted and reliable brands.
List of Top Companies and Divisions Under 3M
3M operates across various industries and has multiple divisions that contribute to its global success. Below is a list of the top divisions and key acquisitions made by 3M, along with their approximate valuations.
| Division/Company Name | Year Established/Acquired | Valuation | Industry |
|---|---|---|---|
| 3M Safety & Industrial | Core Division (since 1920s) | $15 Billion | Safety, Industrial Tools, PPE |
| 3M Healthcare | Core Division (since 1950s) | $10 Billion | Medical Devices, Healthcare |
| 3M Transportation & Electronics | Core Division | $8 Billion | Electronics, Automotive Solutions |
| Scott Safety | 2017 (Acquired) | $2 Billion | Safety Equipment, Fire Protection |
| Capital Safety | 2015 (Acquired) | $2.5 Billion | Fall Protection Equipment |
| Ceradyne | 2012 (Acquired) | $860 Million | Advanced Ceramics, Defense |
| Acelity | 2019 (Acquired) | $6.7 Billion | Medical Technology, Wound Care |
| Post-it Brand | Core Product (Founded 1980) | Part of Consumer Goods | Stationery, Office Products |
| Scotch Tape | Core Product (Founded 1930s) | Part of Consumer Goods | Adhesives, Office Products |
FAQs About 3M (USA)
Q1: When was 3M founded, and who were its founders?
A: 3M was founded in 1902 by Henry S. Bryan, William A. McGonagle, John Dwan, Hermon W. Cable, and Dr. J. Danley Budd. The company initially focused on mining but quickly shifted toward manufacturing industrial products.
Q2: Who is the current CEO of 3M?
A: Mike Roman is the current CEO of 3M, having taken the position in July 2018.
Q3: What are the key industries in which 3M operates?
A: 3M operates in various industries, including safety and industrial products, healthcare, electronics, transportation, and consumer goods.
Q4: What are some of the most popular products made by 3M?
A: 3M is well-known for its consumer products like Post-it Notes and Scotch Tape, as well as industrial safety equipment, medical devices, and advanced materials.
Q5: What is 3M’s market capitalization?
A: As of 2024, 3M’s market capitalization is estimated at around $60 billion, making it one of the leading companies in the industrial and healthcare sectors.
Q6: Does 3M invest in research and development?
A: Yes, 3M is known for its heavy investment in research and development, spending about 6% of its annual revenue on innovation and new technologies.
