3M reveals outlook for 2010

3M has announced the details of its prospects for 2010 this week and offered a review of the company’s progress in 2009.

The firm’s chief executive officer George Buckley confirmed 3M’s ongoing commitment to investing in its core businesses while focussing on cash generation following the global economic crisis.

Mr Buckley cited the organisation’s 2009 performance as an indication that its plans to overcome the downturn have so far proved to be effective.

It outlined the strength of its core businesses – such as healthcare and those providing respiratory protection items – and highlighted its potential in emerging markets, such as software, electronics and renewable energy.

Mr Buckley stated: “We’ll continue to invest aggressively in our core and at the same time continue to make modest acquisitions at about the same rate we’ve been making in recent years.”

This news comes after 3M published its financial results for the third quarter of 2009, which revealed that sales at its healthcare division increased during the period by 4.7 per cent, compared to the same time in 2008.