3M Merger and Acquisition Activity has been going on for years and in this recent
article in Industrial Distribution, Jack Keough writes:
Industrial giant 3M made it clear during a recent presentation to investors and
analysts that it intends to continue as a major player in mergers and acquisitions
activity with some deals possibly being multi-billion dollar purchases.
The St. Paul Minnesota-based conglomerate says it has $24 billion to $29 billion
set aside in the future for deployment into “strategic opportunities” and that some
acquisitions could be larger than the company has been known for over the years.
Inge G. Thulin, 3M’s chairman, president and CEO, told analysts some of those
acquisitions could be larger than the company has been known to complete over the
years, but ones that would complement 3M’s existing core business groups.
“If it (a potential acquisition) is the right asset for us, we have an integration team
now in the company that can help us to execute,” he said according to a transcript of
the meeting as provided by www.seekingalpha.com.
Thulin referred to the success 3M is already seeing from its $2.5 billion acquisition
last August of Capital Safety, a specialist in fall protection. Fall safety has become
one of the fastest-growing safety categories within the global personal protective
Inge G. Thulin
3M Chairman, President and CEO
Frank Little, executive vice president of 3M’s safety and graphics group, elaborated
on that point by noting the Capital Safety integration is on track and is meeting
the company’s profit expectations.
“We are building sales synergies across our global footprint as we expected to do
and expanding our portfolio reach into new market verticals,” he said. “We also are
integrating our manufacturing operations in the right geographies. And we are
achieving R&D scale and leverage that we have never had before globally.”
Click here for the full article.
What companies has 3M purchased over the years? click on the links below and
look for the “Also Known As” companies for the past acquisitions and mergers.