3M Structure Realigned Into New Business Segments
3M has announced a reorganization of the company from five to four business segments. The new structure will be comprised of the following four segments: Safety & Industrial, Transportation & Electronics, Health Care and Consumer. The company, located in St. Paul, Minnesota, operates in the promotional products industry as supplier 3M Promotional Markets (PPAI 113638).
“We are continuing to advance 3M into the future, and today’s actions will strengthen our ability to meet the fast-moving needs of our customers,” says 3M CEO Mike Roman. “Our new alignment will leverage our business transformation progress, accelerate growth and deliver greater operational efficiencies.”
The new segments, in detail, are:
Safety & Industrial: This segment includes businesses that serve the global industrial, electrical and safety markets. This business segment will consist of personal safety, adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket and roofing granules. This segment will have estimated annual revenue of $12 billion.
Transportation & Electronics: This segment includes businesses that serve global transportation and electronic original equipment manufacturer (OEM) customers. This business segment will consist of electronics (display materials and systems, electronic materials solutions), automotive and aerospace, commercial solutions, advanced materials and transportation safety. This segment will have estimated annual revenue of $10 billion.
Health Care: This business segment serves the global health care industry and will include medical solutions, oral care, separation and purification sciences, health information systems, drug delivery systems and food safety. This segment will have estimated annual revenue of $7 billion.
Consumer: This business serves global consumers and consists of home improvement, stationery and office supplies, home care and consumer health care. Home improvement will also include the retail auto care business that was previously a part of the company’s automotive aftermarket business. This segment will have estimated annual revenue of $5 billion.