Among many others, myriad adhesives, sealants, and related products (e.g., tapes, films, wound care/closure products) are produced in each of 3M’s four business segments: Safety & Industrial (representing 36% of 3M’s total 2021 net sales of $35.4 billion), Transportation & Electronics (28%), Health Care (26%), and Consumer (17%).
3M’s Industrial Adhesives & Tapes business accounted for 23% of the Safety & Industrial segment’s almost $12.9 billion sales in 2021, while the Closure & Masking Systems business represented 8% of segment sales. The segment saw overall organic sales increase by 7.8% for the year.
“Throughout 2021 we performed well, delivering full-year sales growth of 10 percent, robust cash flow and a strong increase in EPS,” said Mike Roman, chairman and CEO. “We also returned significant cash to shareholders, reduced debt and helped the world respond to COVID-19. As we continue to actively manage our portfolio and improve our operations, we will prioritize investments in fast-growing end markets to drive long-term growth, as well as advance our commitment to sustainability.
Note: Photo courtesy of 3M.
No. 2 | 3MSt. Paul, Minn.
Chairman and CEO: Mike Roman
Sources: annual report, press release
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