3M Reorganizes Business GroupsOctober 11th, 2012 | Category: Featured Content
St. Paul, Minn.-based 3M has announced it is restructuring its business groups. Window film will now fall under the newly created electronics and energy division.
“The change is a natural outcome of our strategy to increase relevance to our customers and to broaden our presence in the markets we serve,” says Inge Thulin, 3M chairman, president and CEO. “By building scale more broadly, we create critical mass in each business group to take full advantage of innovation and commercialization opportunities.”
In an exclusive interview with Window Film magazine, Jacqueline Berry, manager of public relations for 3M says, “Externally, there will be no changes. What we’ve tried to do is group markets together to better serve those markets and customers.”
The new structure will now have five business groups; the previous model had six divisions. The five restructured groups will include consumer, industrial, health care and two new divisions—safety and graphics and electronics and energy.
“Window film is part of our Renewable Energy business,” says Berry. “That [product line] is moving to the electronics and energy business group.”
Berryadds that “nothing will change with the product,” as a result of the realignment.
Executive vice president Mike Kelly will lead the new electronics and energy segment of the company. Kelly is the former head of the display and graphics business.
Sales in 2011 for the subdivisions of the electronics and energy business totaled $5.7 billion.
3M formed the Renewable Energy division in 2009.