3M plans more investment in mainland to raise sales to US$5billion by 2017

By Richard Fu | February 21, 2014, Friday |

Online Edition

3M Co, the maker of Post-it Notes and Scotch tape, aims to raise sales in China’s mainland to between US$4 billion and US$5 billion by 2017 by continuing to invest in new plants and new products.

China accounted for 10-15 percent of the US manufacturer’s global sales of US$31 billion in 2013, James McSheffrey, CEO of 3M China, said at a news briefing in Shanghai.

He said 3M China expects to grow 1.5 times faster than the local economy.

McSheffrey said 40 percent of its products in China were developed over the past five years, ahead of the company’s worldwide average of 35 percent.

One of the earliest multinational companies to enter China, 3M has invested US$1.5 billion in the country to date.

Business Manufacturing

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3M plans more investment in mainland to raise sales to US$5billion by 2017

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