3M Reports Favorably in Dismal Times

In today's economic climate, when any corporation reports a favorable sales increase it comes as good news. And when a portion of that good news is attributed to window film, the good news suddenly becomes great for the film industry. 3M recently announced third-quarter sales of $6.6 billion, representing an increase of 6.2 percent over the third quarter of 2007. Among leading factors, the company points to its international efforts, but also gives credit partly to growth in its safety, security and protection services.

Among its growth in the safety and protection services, the company reports broad-based sales growth led partly by protective window films.

3M also credits an international focus for its recent successes. Sales in Latin America increased 26 percent over last year, while Europe and Canada achieved 8- and 9-percent sales growth, respectively. Sales in Asia Pacific were down 1 percent, or up 13 percent excluding the impact of the secular transition underway in the company's optical film business, according to 3M officials.

"Our diversified global business model has enabled us to weather many economic storms and to also take advantage of opportunities when our competitors could not," says George W. Buckley, 3M chairman, president and chief executive officer. "For example, 3M started 15 successful new international companies during the recession of the 1970s, and we aggressively built strength and gained market share in Asia during the late 1990s." Buckley assures that the company will once again take advantage of current market conditions. "We are poised again to take full advantage of market opportunities presented by the current environment and to emerge more competitive and successful than ever before," he says.