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3M wants to focus on local goods
By Richard Fu |
July 18, 2013, Thursday
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Print Edition
Print Edition
3M Co, an American diversified manufacturer, plans to focus more on locally-developed products in China in response to the slowdown and reorientation of the country's economy, its new regional chief said.
"The economic slowdown and transformation will take some time - it won't be completed in one or two years - so we have to make gradual adjustments," Donald Chang, who was appointed president of 3M China in May, said in Shanghai yesterday.
The company will increase local investment in areas such as air- and water-related products, he said, adding it is working on a mask that's suitable for Asian faces.
With annual sales of 20 billion yuan (US$3.26 billion), China is the largest overseas market for 3M, which manufactures Post-it notes, construction materials and other industrial products.
"The economic slowdown and transformation will take some time - it won't be completed in one or two years - so we have to make gradual adjustments," Donald Chang, who was appointed president of 3M China in May, said in Shanghai yesterday.
The company will increase local investment in areas such as air- and water-related products, he said, adding it is working on a mask that's suitable for Asian faces.
With annual sales of 20 billion yuan (US$3.26 billion), China is the largest overseas market for 3M, which manufactures Post-it notes, construction materials and other industrial products.
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