What Is The Growth Expected Of Markets Served By 3M’s Industrials Segment Over The Next 5 Years?
3M’s (NYSE:MMM) Industrial segment is a $10 billion group, with a leading position in a number of markets served by them. These markets are all expected to grow as the company moves forward with its five-year plan. The company relies on its three levers of portfolio management, investing in innovation, and business transformation in order to forge ahead in this business group. In portfolio management, the company ensures acquisitions made add to the technology manufacturing capability already with the company. An example of this is the acquisition of Polypore’s Separations business, called Membrana. 3M has benefited as a result, with stronger sales of its water-filtration products in China and other developing countries where pollution fears are growing. Investing in innovation involves greater R&D spending, with the company planning to increase its R&D spending as a percentage of its sales from 5.8% in 2015 to 6% by 2017. The company also plans to extend its implementation of Lean Six Sigma and complete its roll-out of ERP in order to fuel business success.
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Notes:
Global Large Cap | U.S. Mid & Small Cap | European Large & Mid Cap
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