India Now - page 13

3M
MNC WATCH
11
|
APRIL-MAY 2015
3M
India has successfully
spawned its footprints
across diverse markets
in India over the years. With its
commitment to bring out products
unique to India, the subsidiary of
the US-based company markets over
8,000 products in the country and
holds a leading position in healthcare,
industrial markets, display and
graphics, consumer and office, safety,
security and protection services,
electronics and communications and
transportation. Formerly known as
Birla 3M Limited, it has manufacturing
facilities at Ahmedabad, Bangalore,
Puducherry, Pimpri (Pune) and
Ranjangaon (Pune). The diverse
product portfolio of the company
is backed by a robust ecosystem of
innovation and performance, which
has made it a leader in several product
segments.
As per its standalone quarterly
results ended in March 2015, the
company’s total income from
operations stood at
`
477.44 crore and
it reported a net profit of
`
42.63 crore
for the quarter, rising 63.90 per cent
as against
`
25.40 crore in the previous
quarter. As per its annual report of
2012-13, the company registered an
overall turnover growth of 12 per cent
to reach
`
15.85 billion for the financial
year ended March 31, 2013 compared
to
`
14.1 billion in the corresponding
period for the previous year. It further
recorded an overall turnover growth
of 11.21 per cent to reach
`
17.62 billion
for the financial year ended March 31,
2014, according to the annual report
of customer needs. With US$ 31.8
billion in sales and operations, 3M
employs approximately 90,000
people worldwide and has operations
in nearly 70 countries. A leader
in research and development, 3M
markets approximately 55,000
products worldwide and its expertise
in providing technology solutions is
well recognised for its performance,
safety, value and productivity in sectors
like aerospace, railways, highways,
defence, security, mining, health, oil &
gas, telecom and marine. In 2014, 3M
was granted its 100,000th patent in the
United States.
1987
3M and Birlas
became partners
1988
Established
manufacturing facility at
Bangalore
1990
Inauguration of
Customer Tech Centre at
Bangalore; commence-
ment of Scotch-Brite
Conversion
1993
Increases equity
holding to 51 per cent;
warehousing operation at
Delhi and Mumbai
1994
Opening of
customer sales centres
at Chennai, Kolkata and
Bangalore
1998
Inauguration
of Innovation Centre in
Bangalore
2000
Acqusition of
Auto Striping India Pvt
Ltd
2002
Company name
changed to 3M India
Limited from Birla 3M
Limited
2006
Acquisition of
Mahindra Engineering
& Chemical Products
Limited
2010
Filed 13 patents,
launched over 23 new
product innovations for
the India market
2011
Distribution
centre inaugurated in
Bangalore; expanded
regional presence with 4
branch offices in Kolkata,
Chennai, Pune & Gur-
gaon; filed 14 patents
of 2013-14. The company has reported
net sales of
`
1,808 crore, a growth of 6
per cent over the previous year, for the
financial year ended March 2015.
Today, 3M, which was earlier called
Minnesota Mining and Manufacturing
(MMM), has a 100-year plus track
record of being one of the most
innovative corporations worldwide.
Its core strength is in applying its
more than 46 distinct technology
platforms to collaborate actively to
design, manufacture and engage in
the delivery of innovative products
and services, with the end-mission
being to provide for a wide array
3M INDIA MILESTONES
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