3M
Sales: $2.5 billion
Acquires key
brands
Company Facts:
3M
3M Center
St. Paul, MN 55144-1000 USA
Tel: (651) 733-1110
www.3M.com
• 2007 SALES REVENUE: $2.5 billion
(2006 SALES: $2.2 billion)
• KEY PERSONNEL: George Buckley, chairman,
CEO and president; Patrick Campbell, senior vice
president and CFO; Joe Harlan executive VP, electro and communications; Michael Kelly, executive
VP, display and graphics; Jean Lobey, executive
VP, safety, security and protection services; Robert
Macdonald, marketing and sales; Moe Nozari,
executive VP, consumer and office; Brad Sauer,
executive VP, health care; Hak Cheol Shin, executive VP, industrial and transportation.
• MAJOR PRODUCTS: Coatings, adhesives,
sealants and related products used in diverse
applications and markets.
• 2007 ACQUISITIONS: UK-based E Wood
Holdings; Bondo Corp.; Rite-Lok product line
from Chemence.
As one of the most diverse companies in this report, 3M manufacturers adhesives and
sealants, and also produces an array
of coatings, grouts and concrete sealing products spread across seven business units, which posted sales of $24.5
billion in sales in 2007. Coatings
World estimates 3M’s sales of coatings, adhesives and sealants at
approximately $2.5 billion.
E WOOD HOLDINGS ACQUISITION
3M also completed its acquisition of
E Wood Holdings PLC, a North
Yorkshire, UK-based manufacturer
of protective coatings for the oil, gas,
water, rail and automotive industries. This acquisition provides 3M
enhanced access to key markets,
including the rehabilitation of existing oil and gas pipelines.
E Wood sells high performance
coatings for use in the oil, gas, water,
rail and automotive industries under
the Copon brand. Its Thortex and
Thistlebond brands include a range
of industrial maintenance products
for the long-term protection of buildings, structures and machinery
equipment operating in industrial
and marine environments.
BONDO CORP. ACQUISITION
Lastly, 3M completed its acquisition
of Bondo Corp., a manufacturer of
auto body repair products for the
automotive aftermarket and various
other professional and consumer
applications.
Bondo’s brand complements 3M’s
line of auto body repair products for
the automotive aftermarket. Bondo
brand products are designed for both
auto body repair professionals and
enthusiasts. Products include body
filler, fiberglass repair materials,
under coatings and adhesives.
STRENGTHENS INDUSTRIAL
ADHESIVES PORTFOLIO
During the year 3M acquired the
Rite-Lok global industrial adhesives
product line from Chemence Inc., a
specialty chemical company that
manufactures a range of consumer
and industrial adhesives.
Rite-Lok industrial adhesives and sealants
are a new addition to the 3M adhesives
portfolio. The products are widely used by
original equipment manufacturers (OEMs)
and the maintenance and repair (MRO) market sectors. Rite-Lok products are used in
applications in the automotive, electronics,
medical and general industrial markets.
Complementary acquisitions such
as this support 3M’s growth strategy
to expand its core adhesives business.
The complete Rite-Lok brand product
line includes anaerobic threadlock-ers, retaining compounds, gasket
makers, thread sealants, structural
adhesives and specialty cyanoacry-late instant adhesives for industrial
use such as metal bonding, plastics
and rubber. The product line also
includes high-temperature, low-odor
industrial adhesives and rubber-toughened flexible adhesives.
