3M Company (MMM) announced its third quarter results,
reporting sales growth of 5.6 % year over year to $7.9 billion. Growth in the
industrial segment was the primary reason for this increment in total sales.
Going forward, 3M Company expects to grow this segment with its contracts from
U.S. military services. The company also expects to grow its healthcare segment
in Asia Pacific and Latin America.
3M Company acquired Ceradyne last year, which became part of
3M Company's industrial business segment. Ceradyne is a wholly owned subsidiary
of 3M Company that manufactures advanced ceramic products, used in automobiles,
oil and gas, and defense devices. In the defense sector, these ceramic products
are used for making various accessories like helmets and body armor. Read more.
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