Headquartered in St. Paul, MN, and founded in 1902, 3M Company together with its subsidiaries operates as a diversified technology firm. It has manufacturing operations across the globe and serves a diversified customer base throughout the world. On a geographical basis, the company has operations in the Americas (56.2% of 2023 net revenues), Asia Pacific (25.9%), Europe, Middle East & Africa (17.9%) and other markets. Exiting 2023, it has an employee base of 85,000 people.
In July 2022, 3M announced plans to spin off its Healthcare business into a separate public company. The company completed the spin-off in April 2024. The spin-off will facilitate the company to flourish through better operational focus, capital allocation policies and financial flexibility. After the spin-off, the company has three business segments:
The Safety & Industrial segment (44.7% of 2023 net revenues) mainly serves customers in the electrical, safety and industrial markets across the globe. The segment includes industrial adhesives and tapes, personal safety, abrasives, closure and masking systems, roofing granules, electrical materials and automotive aftermarket businesses. Some of the popular brands offered by the segment include Scotch-Brite abrasives, Scotch & Temflex Vinyl tapes, Scotchkote Coatings, Scotchcast resins, Collision repair and paint spray, VHB bonding tapes and Scotchgard Protector.
The Transportation & Electronics segment (34.7%) primarily serves original equipment manufacturers (OEMs) in the electronics and transportation industries across the globe. The segment includes electronics, commercial solutions, advanced materials, transportation safety, automotive and aerospace, and other related businesses. Major brands offered under this segment include Nextel Ceramic fibers and textiles, Thinsulate Acoustic Insulation products and automotive components, Novec Engineered Fluids, Scotchlite graphic films, Scotchcal, Controltac commercial graphics and 3M Diamond Grade DG3 reflective sheeting.
The Consumer segment (20.6%) provides office supplies, retail abrasives, paint accessories, stationery, home improvement products, homecare products and consumer healthcare products. Some of its brands include ACE, FUTURO, Nexcar, Scotch-Brite, Command, Post-it, Scotchgard and Scotch tapes among others. Its products are marketed through traditional wholesalers, retailers, distributors and e-commerce channel.