Founded in 1902 as a small-scale mining venture in Northern Minnesota, 3M is now an American multi-national conglomerate providing products in fields including worker safety, healthcare, and industrial and consumer goods. For 2022, 3M posted $34.2 billion in net sales, a decline of 3.2% year-on year.
The company operates in four business groups: Safety & Industrial, which posted $11.6 billion in sales for 2022 (34% of total sales); Consumer, with $5.3 billion in 2022 sales (15% of total sales); Healthcare, with $8.4 billion in 2022 sales (25% of total sales); and Transportation & Electronics, with $8.9 billion in sales for 2022 (26% of total sales).