The fundamental point of the North American company 3M, founded in 1902, is business diversification. It works in an array of industries, producing science-driven equipment for telecommunications, office supplies, anticorrosive coatings for the extractive industry, dental materials, etc. Among the world-famous 3M products are scotch tape, a brand of sticky tape, the name of which has become appellative.
In July 2018, a significant event took place: President Inge Thulin was replaced by up-and-coming Michael Roman, who had been keeping his eyes on the prize for 30 years. Thulin remained to hold office as a chairman of the board consulting a new successor. The market reacted to the change of leadership positively, especially after he came up with his new program. Roman promised to continue investing a significant part of company's profits in the development and production of new product identities.3M was floated on the market back in 1947 and ever since proves itself as one of the most stable companies in the world with a steady increase and annual turnover of $ 31 billion as of 2017.The company's goal in recent decades is to get a quarter of the profit from products introduced within the last 5 years all the while increasing production and expanding the assortment. Meanwhile, it looks like a winning policy for the shares value is steadily increasing; the company produces over 50,000 items. 60 trading facilities are involved in production in dozens of countries all around the world; 3M employs a grand total of over 80 thousand people.
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