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Home Industry News 3M reports record sales in Q2 2011

3M reports record sales in Q2 2011

28th July 2011

3M has expressed satisfaction with its financial performance in the last three months after reporting record-breaking results in the second quarter of 2011.

The company's sales for the period rose by 14.1 percent year on year to a benchmark-setting high of $7.7 billion (4.7 billion pounds), with growth reflected across all geographic regions and five of its six business units.

Its healthcare division saw a 7.8 percent sales increase to $1.3 billion, with its infection prevention receiving a double-digit fillip due to the integration of Arizant, acquired in October 2010.

George Buckley, 3M's chairman, president and chief executive officer, noted that this strong performance has been recorded despite difficult conditions and the impact of the March 2011 earthquake in Japan.

"3M's innovation engine continues to accelerate and we expect further growth in new products this year," he added.

In May 2011, the company agreed a new alliance with Radius Health to develop a transdermal delivery option for a new osteoporosis treatment, BA058.ADNFCR-8000103-ID-800637429-ADNFCR

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