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Corporate Profile

3M Pakistan

The spirit of innovation and commitment.

Oct 15 - 21, 2001

During the year 2000, 3M achieved record sales, net income and earnings per share. The unique product and globally diversity gave the Corporation the strength to post solid results despite difficult economic trends in the United States and negative currency impact. Sales volume grew more than 15 per cent, and profit margins exceeded 21 per cent. Asia Pacific, Europe and Latin America all achieved double-digit growth.

Sales growth was particularly strong in 3M business that serve fast-growing, high-tech markets, such as electronics, telecommunications and optical systems. Dynamic, high-growth markets currently account for a quarter of 3M's sales. During the year 2000, the Company experienced one of the highest levels of innovation in its history, generating US$ 5.6 billion nearly 35 per cent of total sales from products introduced during the past four years, with over US$ 1.5 billion of sales coming from products introduced in year 2000.

Despite, the slowing of the US economy and uncertain economic conditions abroad, the management and thousands of excellent people worldwide are committed to delivering yet improved results. To meet this goal in a challenging global economy aims at optimizing cost and sharpen its competitive edge. At the same time, 3M's potential to build on its uniquely strong base is enormous. each of the following represents a multibillion opportunity over the few years:

Geographic Penetration: Simply maintaining its current rate of improvement in market penetration internationally, the Company has the potential to add US$ 4 billion to the top line,

Innovative/New Markets: 3M's distinguishing strength is its entrepreneurial drive to transform three dozen technology platforms into a constant new-product flow, providing new solutions for new customers in new markets,

Dynamic Growth Products: Fast growing markets like health care, telecommunications and electronics represent another multibillion dollar opportunity. Products families like immune response modifiers, interconnected systems and filtration products exhibit even greater potential than first envisioned,

Acquisitions: The Company aims at aggressive acquisition to accelerate expansion into high-growth markets, and leverage its global reach and capabilities.

Today, 3M's brand portfolio is flourishing, a result of both the creation of new brands and the renewal and extension of time-tested brands. The Scotch brand, introduced 75 years ago as masking tape has evolved through countless innovations. Similarly the Scotch-Brite continues its household recognition through cleaning products. Another 3M veteran, the 20-year old Post-it brand has grown from yellow notepads to a myriad of products all of which provide fast, friendly tools for communication and organization.

The Company has identified 21 potential strategic brands, consisting of both established and newer brands. Each is supported by a rich base of science and technology, and being developed at a quickened pace. Some of the promising new brands are Vikuti Display Enhancement, Volition Fiber Optic Network Solutions, Command Adhesive and Nexcare First-Aid Products.

3M established its corporate office in Pakistan in 1995 with a specific attention on medical consumables with proper clinical back-up. This area was often ignored by many multinational companies as they preferred to market their products through agents. 3M made specific efforts to educate doctors and para-medical staff by conducting awareness and training programmes for following procedures and standards.

The integral parts of this awareness programme are: 1) avoiding post operation infection and creating aseptic environment in both public and private hospitals. This is to avoid indiscriminate use of antibiotics which not only adds cost but also results in resistance even against fourth generation antibiotics.