Download Sample Report - Hoovers

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TABLE OF CONTENTS >>
Company Overview .................................................................................................................................................................. 1
IT Strategy ............................................................................................................................................................................... 3
Current Technologies in Use .................................................................................................................................................. 5
IT Executives ........................................................................................................................................................................... 9
IT Contacts .............................................................................................................................................................................10
Recent News & Activity .........................................................................................................................................................11
Conversation Starters ...........................................................................................................................................................15
Executive Contacts & Board of Directors ...........................................................................................................................19
Industry Data ........................................................................................................................................................................22
Major Subsidiaries & Locations ...........................................................................................................................................23
About Hoover’s Editorial ......................................................................................................................................................24
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COMPANY OVERVIEW >>
Loath to be stuck on one thing, 3M makes everything from masking tape to asthma inhalers. The diversified
company makes products through six operating segments: consumer and office; display and graphics;
electro and communications; health care (through 3M Health Care); industrial and transportation; and
safety, security, and protection services. Well-known brands include Post-it Notes, Scotch tapes, Scotchgard
fabric protectors, Scotch-Brite scouring pads, and Filtrete home air filters. 3M has operations in more than
60 countries. About two-thirds of its sales are made outside the US. It sells products directly to users and
through numerous wholesalers, retailers, distributors, and dealers worldwide.
The company has been making adjustments in costs, staffing, and capital projects since 2008 to stay ahead
in times of economic slowdown. 3M typically takes a conservative approach to managing its assets. For 2009
it cut about one-third of its capital spending plans and eliminated thousands of jobs across all geographic
markets due to a tough recession. The restructuring continued into the first half-of 2010, when the recovery
began to gain momentum.
As a result, 3M posted solid numbers for 2010, with revenue growth of 15% and net income up almost 28%
over the previous year. Three of 3M’s five reporting divisions sales were up more than 10%, with Electro and
Communications up almost 27%, Display and Graphics increased 26%, and Industrial and Transportation
growing some 17%. Geographically, the Asia/Pacific region sales volumes grew 18% while Latin America was
up 12%. Net income grew significantly, despite increases in raw materials costs, R&D expenses, and costs
related to several large acquisitions.
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As a technology-driven company, 3M continues to make research and development a top priority, investing
significantly in new product development efforts. The company spent approximately $1.4 billion each year
in 2008, 2009, and 2010 for research and development and related expenses. It funded activities including
basic scientific research and the application of scientific advances in the development of new and improved
products and their uses.
3M made two moves into the high-tech security field in 2010. The company acquired Cogent Inc. for $943
million. Known as Cogent Systems, the firm provides finger, palm, face, and iris biometric systems for
governments, law enforcement agencies, and commercial enterprises. 3M also acquired Attenti Ltd., an
Israeli manufacturer of people-tracking technology, for $230 million. Attenti makes remote monitoring
devices to track people awaiting trial or on probation, as well as for elder-care facilities to monitor patient
safety.
The company expanded its consumer and office business lines in 2010 and 2011 by acquiring a majority
stake in Japanese-based A-One, the top label brand in Asia and the second largest worldwide. It also
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acquired Alpha Beta Enterprise, a manufacturer of box sealing tape and masking tape headquartered inTaiwan.
Both acquisitions will expand 3m’s presence in the global market.
Also in 2010, 3M acquired J.R. Phoenix Ltd., a manufacturer of hand hygiene and skin care products for health
care and professional use. The majority of J.R. Phoenix products are sold under the Laura Line brand in
Canada. The deal expanded 3M’s line of hand hygiene skin care products to the healthcare market in Canada.
The company also acquired UK-based Dailys Ltd., a global supplier of non-woven disposable chemical protective
coveralls for industrial use.
Continuing its 2010 run of acquisitions, 3M acquired Arizant Inc., for $810 million. Minnesota-based Arizant
manufactures forced-air warming garments designed to prevent hypothermia in surgical settings, a growing
international market estimated at some $1 billion per year. It also agreed to acquire Switzerland-based precision
grinding technologies supplier Winterthur Technologies for $448 million.
Its buying spree continued into 2011, as it acquired Florida-based Nida-Core Corp., a manufacturer of structural
honeycomb core and fiber-reinforced foam core materials. 3M also obtained Nida-Core’s affiliate, Structiso
SARL, located in Aniche, France. The acquisitions will allow 3M’s Engineered Products and Solutions Department
to build on its composite and engineered materials product portfolio.
Also that year 3M acquired Hybrivet Systems, a provider of products to detect lead and other contaminants and
toxins. Hybrivet’s primary product is LeadCheck Swabs, which instantly detect the presence of lead on contact.
Hybrivet will provide 3M’s Construction and Home Improvement Markets Division access to the growing market
for testing paints for lead in older houses and commercial buildings to meet EPA regulations.
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IT STRATEGY >>
Technology Partner: Cognizant Technology Solutions
For a decade, technology company Cognizant Technology Solutions has provided 3M with application-
development and maintenance services. In October 2010 3M struck a five-year, multimillion dollar deal with
Cognizant that extends their strategic relationship. As part of the new agreement, Cognizant will use a service
delivery model that is known in the industry as outcome-based managed services. This model commits to certain
improvements in productivity over an extended period of time. Cognizant Technology Solutions will target
several applications used by 3M to achieve savings – including the cost of ownership – and standardization.
Included in this effort will be work on mission-critical software needed in several 3M business operations,
such as
� Administration
� E-commerce
� Finance
� Human resources
� Manufacturing
� Planning
� Research and development
� Sales and marketing
� Sourcing and supply chain
Cognizant 2.0 is one of the products from Cognizant Technology Solutions that 3M is using for its IToperations
and for improving product innovation and virtualization. Cognizant 2.0 is a platform thatprovides support for
such capabilities as
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� Collaboration
� Global knowledge-sharing
� Program management
� Social-computing
In general, 3M is banking on Cognizant being able to improve global operational efficiencies and productivity to
the extent that money saved can be used for new business strategies. As 3M’s CIO, Ernie Park, said, “Cognizant’s
innovative outcome-based engagement model and proven applications and manufacturing industry expertise
will help accelerate our efforts to drive cost efficiencies and further transform the relationship we began in
2001.”
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Technology Partner: SAP
In March 2010 3M contracted with SAP as its enterprise standard software provider. As a result of many
acquisitions, 3M must deal with many different IT operations. To integrate 3M’s global business processes, SAP
will implement its Business Suite 7 software throughout the company and replace many software programs
used by newly acquired businesses and other company operations. The project will be carried out over the next
several years. The contract, which one analyst said could cost 3M up to $35 million in license fees alone, comes
at the expense of Oracle, which had been a key supplier for 3M. [1] Analysts also say the implementation will be
a test case for using a cloud computing platform to deploy Enterprise Resource Planning (ERP).
Initial implementations of the program were scheduled for Europe and Asia/Pacific subsidiaries. A new demand
forecasting and supply planning system using SAP’s Advanced Planning and Optimization Solution was slated
for Europe; SAP’s ERP applications will replace most of 3M’s legacy applications in the Asia/Pacific regions. After
problems found in these rollouts have been worked out, implementation will be scheduled for other areas. [1]
Cloud Computing
3M is using cloud computing to support the operations of a software product launched in January 2010, Visual
Attention Service, which evaluates the effectiveness of advertising photos. To lessen risk around a new product
with an unknown appeal, 3M is using Microsoft’s Azure cloud computing to provide a home for the Visual
Attention Service product. LThe advantage to using the cloud is that the company doesn’t have to invest in
new computers and other IT equipment at this point.[2] In fact, Azure has helped 3M cut the costs of Visual
Attention Service’s operations in half. [3]
The 3M company as a whole is now gracing this cloud-computing trial with some visual attention of its own.
If cloud computing works out for Visual Attention Service, the company may expand it to more operations
and become one of the first large companies to use cloud computing on a large-scale basis. Until now, most
customers of cloud computing have been small and midsized companies. [2]
Social Media
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Another example of 3M’s commitment to investing in its future is demonstrated by its use of social media
tools. By deploying Enterprise 2.0 social-networking technology, 3M opened access to its annual Markets of
the Future idea-generating meetings to all 75,000 employees. These sessions are intended to create ideas for
finding new markets. In the two weeks that access was open to all employees, an additional 1,200 workers in
more than 40 countries logged in and left 700 new ideas. As a result the company began looking at nine new
markets for expansion. The project also served to strengthen the collaboration between 3M’s Corporate IT and
Corporate Knowledge Management groups. [4]
[1] Chris Kanaracus, “SAP lands major deal with 3M at Oracle’s expense,” InfoWorld, March 1, 2010.
http://www.infoworld.com/d/applications/sap-lands-major-deal-3m-oracles-expense-222
[2] Steve Alexander, “Customers now clearer on cloud computing,” Star Tribune, May 10, 2010.
http://www.startribune.com/business/93351379.html
[3] Dina Bass, “Microsoft speeds up its shift to cloud computing,” Statesman.com, October 31, 2010.
http://www.statesman.com/business/technology/microsoft-speeds-up-its-shift-to-cloud-computing-1011110.html
[4] Rick Swanborg, “Social Networks in the Enterprise: 3M’s Innovation Process,” CIO, April 29, 2010.
http://www.cio.com/article/592271/Social_Networks_in_the_Enterprise_3M_x2019_s_Innovation_Process
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CURRENT TECHNOLOGIES IN USE >>
Application Development
BMC Application Release Automation
.Net
Windows Presentation FoundationWPF)
Oracle Forms
Application Programming Interface
BTO Software
OpenGL
Content Management
HP Operations Manager
HP Service Manager
Microsoft SharePoint
Database Management
Database Software
BMC Performance Manager Portal
BMC Performance Assurance
BMC Capacity Management
Oracle Database
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Oracle Fusion Middleware
Document Markup Languages
HTML
ConTeXt
XHTML
GML
XAML
Enterprise Resource PlanningERP)
ERP LXaka BPCS)
FinancialForce Professional Services Automationaka PSA)
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Enterprise Software
Microsoft Site Server
Microsoft Visio
Oracle PeopleSoft
IBM DB2
Imaging Software
Microsoft Exchange
Viewpoint
Information Management Software
HP TRIM
Multimedia Software
XML
Engage
Adobe Flash
Network Management
Network Protocols
Microsoft Active Directory
HTTP
MAP
SOAP
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DICT
Ethernet
MPLS
NFS
SLIP
FTP
Operating System
Microsoft Windows
Linux
IBM AIX
RHEL (Red Hat Enterprise Linux)
RHEL (Red Hat Enterprise Linux)
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Productivity Software
Microsoft Office
Microsoft Access
Microsoft Excel
Microsoft PowerPoint
Programming Languages
Java
C
C#
C++
MATLAB
J2EEJava 2 Platform
AJAX
J2EE (Java 2 Platform, Enterprise Edition)
Javascript
Visual Basic 6
Project Management Software
Microsoft Project
Server Management Software
Servers
Smartphones
Software
BMC Server Automation
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Microsoft SQL Server
Windows Presentation Foundation (WPF)
ISA (Internet Security and Acceleration)
ISAInternet Security and Acceleration)
Oracle Sun
Apple iPhone
Microsoft Word
BMC Administrative Assistant for DB2
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Microsoft Outlook
Novell Cloud Manager
Software Development Kit
Adobe Flex
Testing Framework
Virtual Computing
Quick Test Professional
VMware Studio
Web Application Framework
Other
IBM Websphere Application Server
Six Sigma
Storage Area Network
SAP NetWeaver Business Warehouse
ERP LX (aka BPCS)
Oracle MySQL
WSDL (Web Services Description Language)
WSDLWeb Services Description Language)
FinancialForce Professional Services Automation (aka PSA)
IIS (Internet Information Services)
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IISInternet Information Services)
Java Server Pages
JavaServer Pages
Visual SourceSafe
IE (Internet Explorer)
IEInternet Explorer)
HP-UX
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IT EXECUTIVES >>
Ernest Park, VP and CIO
Frederick J. Palensky, EVP Research and Development and CTO
Personal Data: Date of birth: Jan. 18, 1950. Place of birth: Vermillion, S.D. Education: Briar Cliff College,
Sioux City, Iowa, B.S. - May 1972. Purdue University, Ph.D. - June 1977. 3M Career: - 2006 EVP, Research and
Development and CTO; - 2005 EVP, Enterprise Services; - 2002 EVP, Safety, Security and Protection Services
Business; - 2001 EVP, Specialty Material Markets and Corporate Services; - 2001 VP and General Manager,
3M ESPE; - 1997 Division VP, Dental Products Division; - 1994 Division VP, Medical Products Technology
Division; - 1992 Division VP, Surgical Division; - 1991 General Manager, Surgical Division; - 1990 General
Manager, Orthopedic Products Division; - 1987 Technical Director, Sumitomo 3M Ltd.; - 1983 Technical Director,
Orthopedic Products Division; - 1981 Technical Manager, Vision Care Department; - 1980 Technical Supervisor,
McGhan Medical Corp./3M; - 1977 Senior Chemist, 3M Central Research Laboratories.
Challenges Facing IT Executives in the Industry
Improving Process Technology
Industry margins are historically low, so yield and productivity improvements are important. ITdepartments
devote their attention less to technology breakthroughs than to continuous process controlimprovements,
since controlling chemical reactions is critical in determining product yield.
Maintaining Information Systems
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Operational efficiency is crucial for industrial chemical companies to maintain profitability. Maintaining
information technology services is critical, as disruptions could cause delays in production and order
fulfillment. IT executives must also monitor network security.
Using Radio Frequency Identification (RFID) for Tracking
As more customers move to just-in-time manufacturing, reducing time to delivery increases in importance.
RFID is being used to track everything from bulk materials to finished goods, and to provide data to the
industry that can be used to compute changes in demand at the retail and wholesale levels.
Re-engineering for Energy Efficiency
Chemical industry energy consumption is substantial, and the volatility of energy prices affects costs
dramatically. Technology executives have spearheaded energy management activities to improve the efficient
use of energy. Companies have had energy audits and electricity load controls, and modified equipment and
facilities to better use energy.
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IT CONTACTS >>
First Name Last Name Title Direct Contact Information
Pam Wright Information Technology Manager Yes
Michael Schilling
Anne Flanagan
Information Systems,
3M Plant Engineering Se
Information Technology
International, Area Manager,
Luke Crofoot It Manager/safety Group Yes
Kathy Bohlke Information Technology Manager Yes
Ted Curtis Information Technology Manager Yes
Harvey Starks Information Technology Manager Yes
Brent Huneycutt
Ruud Wimmers
Senior Information Technology
Analyst
Head of Information Technology
Services
Chad Hogan Systems Administrator Yes
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Lily Tam Systems Administrator Yes
Gina Nelson Sourcing Analyst Yes
Mary Hansen
Senior Technical
InformationSpecialist
Henning Weber MIS Manager Yes
Lisa Huggins MIS Director Yes
Paul Doeden Information Technology Manager Yes
Jane Chen Information Technology Manager Yes
Yes
Yes
Yes
Yes
Yes
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RECENT NEWS & ACTIVITY >>
Deutsche Bank (DB) Analysts Reiterate a ‘Buy’ Rating on 3M Company (MMM) (American Banking
News; Tue Jul 05 2011)
Equities research analysts at Deutsche Bank (NYSE: DB) reiterated a “buy” rating on shares of 3M Company
(NYSE: MMM) in a research note to investors on Friday. Separately, analysts at William Blair initiated coverage
on shares of 3M Company in a research note to investors on Thursday, June 9th.…
(http://c.moreover.com/click/here.pl?r4839875274&w=2390512)
Tornado victims get $3M grant for temp jobs (BizJournals; Mon Jul 04 2011 )
Mass. workers who lost their jobs in the wake of severe storms and tornadoes that struck the state on
June 1 will be eligible for temporary work in the recovery and cleanup efforts.The U.S. Department of Labor
announced the $3 million grant awarded to the Massachusetts Department of Workforce…
(http://feeds.bizjournals.com/~r/bizj_boston/~3/5hrmZ3alRow/3m-temp-job-grant-for-tornado-
U.S. Patents Awarded to Inventors in Minnesota (July 1) (Moreover; Mon Jul 04 2011 )
The following federal patents were awarded to inventors in Minnesota. *** 3M Innovative Properties Assigned
Patent ALEXANDRIA, Va., July 1 -- 3M Innovative Properties, St. Paul, Minn., has been assigned a patent
(7,969,560) developed by Gregory D.
(http://c.moreover.com/click/here.pl?r4910967965&w=2390512)
3M Completes Acquisition of Advanced Chemistry & Technology Inc. (MFRTech; Mon Jul 04 2011 )
ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today that it has completed its acquisition of Advanced
Chemistry & Technology Inc. (AC TECH), a manufacturer of quick cure, light-weight polysulfide sealants for
aerospace applications based in Garden Grove, Calif. Terms of the transaction were (http://www.mfrtech.com/
articles/15888.html)
Royal Liver unit to cease operations (Independent.ie; Fri Jul 01 2011 )
CAPITAL Financial Planning (CFO), a unit of UK insurer Royal Liver, will cease trading today five years after
the company entered the Irish market. A spokesman for Royal Liver, which owns the business, said the Irish
company provided back office services to independent financial brokers and advisers and had…
(http://www.independent.ie/business/irish/royal-liver-unit-to-cease-operations-2809636.html)
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SSE sells off 61.3m share in windfarm to Climate Change Capital (New Energy World Network (NewNet);
Thu Jun 30 2011 )
Utility Scottish and Southern Energy has agreed to sell its 50 per cent stake in the Braes of Doune onshore
wind farm, equating to 36MW of capacity, to a fund managed by Climate Change Capital for 61.3m.
(http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/wind/sse-sellsoff-61-3mshare-in-windfarm-to-climate-change-capital.html)
Signal Genetics Inks $13.3M Deal to Commercialize DiagnoCure’s Colorectal Cancer Test, Buy CLIA Lab
(GenomeWeb Daily News; Thu Jun 30 2011 )
Under the terms of the transaction, DiagnoCure will also advance the development of certain genomic tests
for Signal Genetics. read more (http://feeds.genomeweb.com/~r/genomeweb/genomeweb-dailynews/~3/
lXPfcoZxWPk/signal-genetics-inks-133m-deal-commercialize-diagnocures-colorectal-cancertest)
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Reko International Q3 loss widens to $6.7M; revenue rises to $11.3M (CanadianBusiness.com;
Thu Jun 30 2011 )
WINDSOR, Ont. - Precision machine parts manufacturer Reko International Group Inc. (TSXV:REK) cited
lingering effects of the recession on its business for an increase in red ink in the third quarter and the need
for relief from its primary lender. The Windsor, Ont.,-based company said Wednesday that
(http://www.canadianbusiness.com/article/31512--reko-international-q3-loss-widens-to-6-7m-revenuerises-to-
11-3m)
Council approves $4.3M incentives for downtown 1,000-room hotel (Austin Business Journal;
Thu Jun 30 2011 )
A planned 1,000-room Marriott Hotel on Congress Avenue inched closer to fruition Wednesday after city
council members approved fee waiving $4.3 million in development fees.The council passed the measure
during a special meeting called to discuss the incentive deal, plus an agreement with Formula One race
organizers. The project…
(http://feeds.bizjournals.com/~r/bizj_austin/~3/odMNHHveLh0/council-oks-43m-incentives-for.html)
Transit Agency To Pay $1.3M To Victim’s Mother (NPR; Wed Jun 29 2011 )
The settlement between Bay Area Rapid Transit and Wanda Johnson resolves a $50 million wrongful death
and civil rights lawsuit filed in federal court by Oscar Grant’s family. A former BART officer was convicted last
year of involuntary manslaughter for fatally shooting Grant on an Oakland train station platform… (http://
www.npr.org/2011/06/28/137487561/transit-agency-to-pay-1-3m-to-victimsmother? ft=1&f=1001)
Ferry firm in fares vow after 3m tax bill blow (Herald Scotland; Wed Jun 29 2011 )
THE managing director of independent Clyde ferry operator Western Ferries has pledged fares wont rise after
confirming the company will not appeal a court ruling that landed it with 3 million-plus tax bill. (http://www.
heraldscotland.com/business/corporate-sme/ferry-firm-in-fares-vow-after-3m-tax-bill-blow-1.1109025?localLin
ksEnabled=false)
FlashSoft raises $3M for data center software (BizJournals; Wed Jun 29 2011 )
FlashSoft Corp. has raised $3 million in a first round of funding led by Thomvest Ventures, the company said
Tuesday.Mountain View-based FlashSoft has developed software that improves data center performance.
The company also announced the commercial launch of its Flash virtualization software.’Flash memory has
arrived in the enterprise, and it…
(http://feeds.bizjournals.com/~r/bizj_sanfrancisco/~3/1pFeLtYY-zc/flashsoft-raises-3m-for-data-
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Government weighs into ‘blackmail’ row over 3M and MRSA test (Guardian; Tue Jun 28 2011 )
Alleged threat to knighthood for 3M chief executive could lead Ministry of Defence to sue private equity boss
The government has attacked a private equity boss for threatening to use his political muscle to “ blackmail
“ the head of one of America’s biggest companies. The Ministry of Defence… (http://www.guardian.co.uk/
business/2011/jun/27/government-3m-blackmail-row-mrsa)
Real Deals: $11M Denver apt. buy; $3M Broomfield retail deal (BizJournals; Mon Jun 27 2011 )
The Denver Business Journal’s Dennis Huspeni offers his latest roundup of big-ticket Denver-area real estate
transactions in his “Real Deals” blog... (http://feeds.bizjournals.com/~r/bizj_denver/~3/ubk_2_GO1Bs/realdeals-11m-denver-apt-buy-3m.html)
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BostInnovation rounds up $1.3M funding (Mass High Tech Newspaper; Mon Jun 27 2011 )
BostInnovation, a Boston startups and technology news blog from Streetwise Media Inc., has closed a $1.3
million seed funding round, the company reported in a blog posting to its site.
(http://www.masshightech.com/stories/2011/06/20/daily50-BostInnovation-rounds-up-13M-funding.html)
Beachcroft sees 3m negligence claim dismissed by High Court (Legal Week; Mon Jun 27 2011 )
legalweek Beachcroft has seen a 3m negligence claim brought against the firm by Britannia Hotels Group
founder Alex Langsam dismissed by the High Court.Langsam had alleged that the firm failed to properly
advise him on a professional negligence claim he lodged in 2002 against accountants and tax advisers
Hacker… (http://www.legalweek.com/legal-week/news/2081447/court-dismisses-gbp3m-negligenceclaimbroughtbeachcroft?WT.rss_f=Home&WT.rss_a=Beachcroft+sees+%C2%A33m+negligence+claim+
dismissed+by+
Porton calls 3M suit ‘false and reckless’ (BioPortfolio.com; Mon Jun 27 2011 )
Attorneys for the investment group Porton and its CEO Harvey Boulter have described a complaint filed
by 3M accusing the private equity firm of blackmail as a “false and reckless...publicity stunt disguised as a
lawsuit.” And the lawyers said the...
(http://www.bioportfolio.com/news/article/723620/Porton-Calls-3m-Suit-false-And-Reckless.html)
Apple Will Sell 14.4 Million iPads In Q3, According To CLSA (AAPL) (Business Insider; Fri Jun 24 2011 )
Apple could sell over 14 million iPads in the third quarter of this year, according to Asian investment firm
CLSA . It took a look at LCD screen shipment data to come up with its estimate. The consensus for Q3 iPad
sales is much less than 14 million. Here’s…
(http://www.businessinsider.com/ipad-q3-sales-estimates-2011-6)
3M, British firm bicker about e-mail, Buckley’s knighthood (BizJournals; Fri Jun 24 2011 )
3M Co. and a British investment company continued to bicker Thursday over 3M’s charges of “blackmail” in
regards an ongoing dispute over a medical product.3M also said that Harvey Boulter, CEO of Porton Capital
Inc., threatened 3M CEO George Buckley’s knighthood. Buckley, a native of Sheffield, England, was knighted…
(http://feeds.bizjournals.com/~r/bizj_twincities/~3/r2muE33AK_w/porton-laywer-fires-at-3m.html)
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Dixons makes 220m loss after series of writedowns (Guardian; Fri Jun 24 2011 )
Underlying profit at electricals group falls 6% as chief executive admits trading conditions are tough
Electricals chain Dixons Retail slumped more than 220m into the red last year after a Europe-wide
deterioration in consumer spending forced the group to write down the value of some of its international
operations,… (http://www.guardian.co.uk/business/2011/jun/23/dixons-profits-fall)
Mutiny Gold best ever results yet at Deflector, 3m at 42.1g/t gold and 2.3% copper
(Proactive Investors Australia; Thu Jun 23 2011 )
Mutiny Gold ( ASX: MYG ) continues to unlock the significant potential of the Deflector gold copper deposit,
with some stunning high grade gold and high grade copper hits to the north and south of the JORC Resource
of 590,000 million gold ounces and 25,500 tonnes of copper. Standout… (http://www.proactiveinvestors.
com.au/companies/news/17307/mutiny-gold-best-ever-results-yet-atdeflector-3m-at-421gt-gold-and-23copper--17307.html)
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Southern Silver to raise $3m through private placement financing (Proactive Investors Australia;
Thu Jun 23 2011 )
Southern Silver Exploration ( CVE:SSV ) reported Monday that it plans to raise $3 million through a
nonbrokered private placement financing. The Vancouver-based silver explorer intends to issue up to 17.65
million units at a price of $0.17 per unit. Each unit will consist of one common share and… (http://www.
proactiveinvestors.com.au/companies/news/17295/southern-silver-to-raise-3m-throughprivate-placementfinancing-17295.html)
3 Stocks I Saw on TV, June 22 (TheStreet; Thu Jun 23 2011 )
SAN DIEGO (TheStreet) -Each morning, Dan Fitzpatrick at RealMoney.com, talks about three stocks on CNBC’s
“Fast Money” and “Mad Money” and gives his thoughts on how investors can use those ideas to grow their
money. Today’s stocks include : 3M , Unilife Corp.,and Apple , On Tuesday night, Jim…
(http://www.thestreet.com/story/11161461/1/3-stocks-i-saw-on-tv-june-22.html?cm_ven=RSSFeed)
3M accuses Porton CEO of blackmail (BioPortfolio.com; Thu Jun 23 2011 )
3M is firing back at Porton Capital a private equity firm accusing its CEO Harvey Boulter of attempting to
extort $30 million from the manufacturer to settle a lawsuit in the U.K. The company filed the case in the New
York Supreme Court.In its complaint 3M...
(http://www.bioportfolio.com/news/article/720747/3m- Accuses-Porton-Ceo-Of-Blackmail.html)
3M Company (NYSE:MMM) To Make Huge Plant Investment (eMoneyDaily; Thu Jun 23 2011 )
3M Company (NYSE:MMM) has decided to invest about $90 million at its Cordova plant. 3M Company
(NYSE:MMM) To Make Huge Plant Investment As a part of its expansion plans, the US based technology
giant 3M Company (NYSE:MMM) is investing $90 million at its Cordova plant in the western Illinois… (http://
feedproxy.google.com/~r/emoneydaily/~3/KeEfff0zIwQ/)
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CONVERSATION STARTERS >>
Call Preparation Questions - Business and Technology Strategies
Q: What future does the company see for its current end-use markets?
A: Most industrial chemical companies depend highly on a few large end-use markets.
Q: What challenges does the company face in maintaining raw material quality or availability?
A: Many high-grade mineral deposits are found in only a few places.
Q: What technological developments have changed the company’s economics of production?
A: Computers and sensors have allowed greater automation of many chemical processes.
Q: Does the company focus mainly on reducing costs, increasing volume, or developing new
products or uses?
A: These are three major avenues to profits for commodity products.
Q: Does the company plan to expand into other products?
A: Many chemical companies have found higher profits in specialty chemicals.
Call Preparation Questions - Conversation Starters
Q: How does the company mitigate cyclical demand?
A: Demand for industrial chemicals is subject to the cyclicality of heavy end-use markets, and therefore
volatile.
Q: How does the company protect itself from fluctuating energy costs?
A: Extracting and processing basic chemicals from raw materials typically requires large amounts of
energy, usually in the form of heat.
Q: How does the company finance capital projects and inventories?
A: Many producers of industrial chemicals can’t afford to make the large investments required to obtain
newer technology, processes, or equipment.
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Q: What steps is the company taking to capitalize on projected demand for ethanol?
A: Produced from grains such as corn, ethanol is a source of oxygen used to enhance the burning
characteristics of gasoline.
Q: What opportunities might the company have to help develop energy-efficient products?
A: Worldwide efforts to increase energy efficiency are providing chemical companies with new
opportunities.
Q: What programs does the company have in place to measure and improve operational efficiency?
A: Chemical companies continually strive to operate more efficiently in order to cut costs.
Call Preparation Questions - Customers, Marketing, Pricing, Competition
Q: What are the major end-uses for the company’s products?
A: Industrial chemicals are used to manufacture a wide variety of products.
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Q: How dependent is the company on its largest customers?
A: Customer concentration is typical.
Q: How many competitors make the same product?
A: There are often just a few competitors for each product.
Q: What substitute products does the company compete against?
A: Other products with similar characteristics can often be used by customers.
Call Preparation Questions - Executive Insight
Q: CEO: What strategies does the company use grow and maintain its share of the chemical market?
A: While companies consider acquisitions to grow, they’re also formulating strategies to maintain current
share, and are developing new chemicals.
Q: CEO: How does the company create efficiencies in manufacturing, raw material usage, and
transportation of its chemical products?
A: Priorities are reducing production costs, obtaining the highest possible final product yields from raw
materials, and managing transportation efficiency.
Q: CFO: How are the company’s strategies evolving for the purchase of raw material and energy?
A: Companies are exploring alternate energy and feedstock sources, and using forward pricing contracts
and long-term supply agreements to mitigate natural gas price fluctuations.
Q: CFO: How efficiently does the company monitor its financial arrangements to maximize value and
minimize costs?
A: Financial executives negotiate long-term credit agreements, capital placements, and corporate bonds to
meet capital investment requirements.
Q: CIO: What technology upgrades would help the company more effectively improve processes and
product yield?
A: IT devotes focuses mainly on continuous process control improvements, as controlling chemical
reactions is critical in determining product yield.
SAMPLE
Q: CIO: What programs does the company have in place to insure IT system reliability?
A: Maintaining information technology services is critical, as disruptions could cause delays in production
and order fulfillment.
Q: HR: What strategies does the company use to overcome negative job aspects of shift work?
A: HR reexamines wage and benefit plans to maintain competitiveness, ensures that non-day shift
personnel are rewarded fairly, and minimizes turnover.
Q: HR: How has the company benefited from outsourcing HR functions?
A: Increasingly, companies are outsourcing parts of their HR functions to cut costs and provide better
service to employees.
Q: Sales: What challenges does the company face developing new market applications for its chemical
products?
A: Marketing is increasingly focused on finding new markets for existing products.
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Q: Sales: How does the company compete against substitute or similar chemical products on the
market?
A: Companies automate and improve computerized processing systems to control chemical reactions,
maximize product yield, and keep costs down.
Call Preparation Questions - Financial Analysis
Q: How large an inventory of raw materials does the company typically carry?
A: To avoid production interruptions, companies may keep large inventories of raw materials.
Q: How much does the company spend annually for maintenance and capital improvements?
A: To be productive, chemical plants require a high level of maintenance. Capital improvements are
constantly needed to keep pace with better technology.
Q: What percentage of total manufacturing costs is fixed, variable?
A: Chemical plants often have high fixed costs.
Q: Has the company recently made large capital investments?
A: A new chemical plant can easily cost more than $100 million.
Q: How does the company finance capital projects and inventories?
A: Because their collateral is of high value, chemical companies often use bank loans. Larger companies
may issue debt securities.
Q: If handling imports or exports, how does the company protect against currency fluctuations?
A: Some companies use various financial hedging strategies.
Q: How seasonal is the company’s cash flow?
A: Depending on the product, there can be wide variations from quarter to quarter.
Call Preparation Questions - Operations, Products, and Facilities
SAMPLE
Q: How many production facilities does the company operate?
A: Most companies have just one plant.
Q: What products does the company manufacture?
A: Industrial chemical companies often have just one or two product lines.
Q: What major raw materials does the company use?
A: Minerals, natural gas, petroleum, and plants are common materials.
Q: Where does the company get its raw materials?
A: Most companies have long-term supply contracts.
Q: How important are energy costs?
A: Energy costs typically make up a large percentage of total production costs.
Q: What type of fuel sources does the company use?
A: Coal and natural gas are often used.
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Q: Have plant yields increased or decreased in recent years?
A: Yields are typically measured as finished product versus raw materials.
Call Preparation Questions - Organization and Management
Q: How large a workforce is needed to run the plant?
A: Chemical plants have become more automated in the past decade.
Q: Have annual sales per employee been increasing?
A: Sales-per-employee levels vary widely depending on the product.
Q: How much technical knowledge does the sales force have?
A: Many salespeople are chemists or chemical engineers.
Q: How does the company recruit and retain workers?
A: Chemical plant workers are often highly paid.
Call Preparation Questions - Quarterly Industry Update
Q: What concerns, if any, does the company have about improved public access to chemical safety
information?
A: A Web-based tool recently unveiled by the Environmental Protection Agency will provide the public with
an easy way to access health and safety information about industrial chemicals.
Call Preparation Questions - Regulations, R&D, Imports and Exports
Q: How does the company find new uses for its products?
A: Companies often work with large customers to develop new products or uses.
Q: How much does the company spend on R&D?
A: R&D is used to lower production costs, support existing products, and find new end-uses.
SAMPLE
Q: Has the company been named a responsible party for any Superfund sites?
A: Many chemical companies are paying for poor past environmental practices.
Q: Does the company have any other environmental contamination problems?
A: Many older chemical plants have contaminated grounds.
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EXECUTIVE CONTACTS & BOARD OF DIRECTORS >>
First Name Last Name Suffix Title Age Salary ($) Total Comp ($)
George Buckley
George Buckley
Jon Lindekugel President
Chairman, President,
and CEO
Chairman, President,
and CEO
Patrick Campbell SVP and CFO 58
Frederick Palensky
EVP Research and
Development and
CTO
Ernest Park VP and CIO 56
David Meline
Joe Harlan
Michael Kelly
Joaquin Delgado
SVP Finance and
CFO
EVP Consumer and
Office Business
EVP Display and
Graphics Business
EVP Electro and
Communications
Business
SAMPLE
Brad Sauer
Hak Cheol Shin
Jean Lobey
EVP Health Care
Business
EVP Industrial and
Transportation
EVP Safety, Security,
and Protection
63
63 $ 1,720,000 $ 14,935,793
60 $ 481,000
52
50 $ 532,950 $ 2,686,414
53
50
51 $ 572,400 $ 3,353,798
53
58 $ 530,400 $ 3,433,584
Inge Thulin COO 57 $ 594,000 $ 3,531,116
Brad Sauer
Julie Bushman
EVP Health Care
Business
EVP Safety, Security,
and Protection
Jay Ihlenfeld VP Asia/Pacific 59
51
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Paul Rosso
VP Europe, Middle
East, and Africa
Rosa Miller VP Latin America
Debra Rectenwald
VP and General
Manager, Infection
Janet Yeomans VP and Treasurer
Ian Hardgrove
John Slavsky
Dennis Graham
SVP Marketing and
Sales
Global Marketing
Manager
Sterilization
Immobilization
Marketing Manager
Steven Beilke Assistant Secretary
Robert Sprague Assistant Secretary
Michael Dai Assistant Secretary
Gregg Larson
Deputy General
Counsel and
Secretary
David Werpy General Auditor
Ned Hancock Marketing Manager
SAMPLE
Warren Wasescha
Marketing Manager,
New Products
Connie Thompson Public Relations
Tom Anastasio SVP
Ray Terrill SVP
JaeLynn Williams SVP
John Woodworth
Angela Lalor
SVP Corporate
Supply Chain
Operations
SVP Human
Resources
59
45
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Marschall Smith
Marschall Smith
Roger Lacey
Sheila Nichols
Irfan Malik
SVP Legal Affairs
and General Counsel
SVP Legal Affairs
and General Counsel
SVP Strategy
and Corporate
Development
U.S. Sales Director,
Infection
VP, 3M Middle East
and Africa
Vance Coffman Director 65
Edward Liddy Director 64
W. James Farrell Director 67
Robert Ulrich Director 66
Robert Morrison Director 67
Linda Alvarado Director 58
Michael Eskew Director 60
Aulana Peters Director 68
Herbert Henkel Director 62
SAMPLE
66
66
60
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INDUSTRY DATA >>
Hoover’s Industry Codes NAICS Codes SIC Codes
Chemicals 322222 - Coated and 2675 - Die-cut paper and board
Paints, Coatings & Other Finishing
Product
322231 - Die-Cut Paper and 2822 - Synthetic rubber
Plastic & Fiber Manufacturing 325411 - Medicinal and 3089 - Plastics products, nec
Specialty Chemical Manufacturing 325510 - Paint and Coating 5112 - Stationery and office
Consumer Products
Manufacturers
334510 - Electromedical 2824 - Organic fibers,
Office, School, & Art Supplies 339113 - Surgical Appliance 3843 - Dental equipment and
Environmental Services &
Equipment
322130 - Paperboard Mills 2851 - Paints and allied
Health Care 325520 - Adhesive 2672 - Paper; coated and
Health Care Products 339114 - Dental Equipment 2891 - Adhesives and sealants
Medical Devices 314129 - Other Household 3842 - Surgical appliances and
Medical Equipment & Supplies 326192 - Resilient Floor 2399 - Fabricated textile
Industrial Manufacturing 326199 - All Other Plastics 2842 - Polishes and sanitation
Packaging & Container
Manufacturing
Paper & Paper Product
Manufacturing
32223 - Stationery Product 3291 - Abrasive products
325212 - Synthetic Rubber 2835 - Diagnostic substances
SAMPLE
325612 - Polish and Other 2899 - Chemical preparations,
32599 - All Other Chemical 3845 - Electromedical
339112 - Surgical and 5199 - Nondurable goods, nec
314999 - All Other 2678 - Stationery products
322233 - Stationery, 2821 - Plastics materials and
325221 - Cellulosic Organic 2823 - Cellulosic manmade
325222 - Noncellulosic 2836 - Biological products,
325211 - Plastics Material 3999 - Manufacturing
325414 - Biological Product 2676 - Sanitary paper products
339999 - All Other 3841 - Surgical and medical
3996 - Hard surface floor
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MAJOR SUBSIDIARIES & LOCATIONS >>
Company Name DUNS# City State/Province Country
3M China Limited 420545667 Shanghai Shanghai China
3M Cogent, Inc. 790254312 Pasadena CA United States
3M Company 6173082 St. Paul MN United States
3M Deutschland GmbH 315731711 Neuss
Nordrhein-
Westfalen
Germany
3M do Brasil Ltda. 899037428 Sumare Sao Paulo Brazil
3M FRANCE 275145076 Cergy Val D Oise France
3M Health Care Ltd. 218829455 Loughborough Leicestershire
3M ITALIA SPA 428490486 Pioltello Milano Italy
United
Kingdom
3M Korea Ltd. 687951772 Seoul Seoul South Korea
3M México, S.A. de C.V. 811054535
Ciudad De
Mexico
3M Nederland B.V. 402008122 Zoeterwoude MN
Distrito Federal Mexico
The
Netherlands
3M Purificiation Inc. 151179652 Meriden CT United States
3M Touch Systems UK Limited 504831496 Newbury West Berkshire
United
Kingdom
3M UK HOLDINGS LTD 210204202 Bracknell Berkshire England
SAMPLE
3M United Kingdom PLC 288769359 Bracknell
United
Kingdom
Aearo Technologies LLC 621457857 Indianapolis IN United States
Aearo Technologies LLC 614101566 Indianapolis IN United States
Dyneon L.L.C. 945719664 Oakdale MN United States
Meguiar’s, Inc. 8514036 Irvine CA United States
SUMITOMO 3M LIMITED. 690599717 Setagaya-Ku Tokyo Japan
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SAMPLE
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