Star Tribune Sun, 03 Feb 2008 03:12:41 GMT
3M's global growth
The company's feet are planted in Maplewood, but its body is growing overseas. 3M may stand for Minnesota Mining & Manufacturing, but the company's future is fast taking shape overseas. Whether measured by revenue, employees or investment in new plants, the Maplewood-based company's growth is being directed to its foreign operations at an accelerated pace. International sales now account for 63 percent of annual revenue, up from 53 percent in 2001. At its current growth rate, those sales should reach 65 percent of the total this year and 70 percent by 2012. Employment, equipment and factories outside the United States also have risen significantly. Half the company's workforce was in the United States as recently as 2001. Now it's 44.7 percent, with the drop just as pronounced in Minnesota, with only one in five 3M employees now working in the state, down from one in four in 2000.
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