3M Company (originally Minnesota Mining and Manufacturing Company) was founded in 1902 and grew from a small mining venture into a global innovation powerhouse known for products like Scotch Tape, Post-it Notes, and industrial adhesives. The timeline traces its founding, key executive leadership, landmark product breakthroughs, international expansion, major acquisitions, financial performance, and modern standing as a diversified technology company.
Five businessmen founded Minnesota Mining and Manufacturing Company to mine corundum for grinding wheels. The venture initially failed due to poor ore quality. #history #business
After moving to Duluth, 3M began producing sandpaper using garnet instead of corundum. This pivot laid the foundation for future success. #manufacturing #history
3M established its headquarters in St. Paul, where it remains today. The move facilitated access to transportation and a larger workforce. #business #history
3M launched Three-M-ite cloth, a waterproof abrasive that outperformed existing products. This marked the company's first significant product breakthrough. #innovation #manufacturing
3M invented Wetordry sandpaper, which used waterproof adhesive and could be used with water to reduce dust. It became a standard in automotive refinishing. #innovation #manufacturing
3M employee Richard Drew invented masking tape, creating the world's first pressure-sensitive tape. The Scotch brand was born, revolutionizing painting and packaging. #innovation #products
Richard Drew invented the first transparent adhesive tape, which became a household and office essential. The product's success fueled 3M's growth during the Great Depression. #innovation #products
3M established its first overseas subsidiary in the United Kingdom, marking the beginning of global expansion. #international #business
3M launched Scotchgard, a stain repellent for fabrics. The product was developed by accident when a chemist spilled a fluorochemical on her shoes and noticed it repelled stains. #innovation #products
3M expanded into Canada and other countries, establishing a network of international manufacturing and sales subsidiaries. #international #expansion
3M introduced Scotch magnetic recording tape, entering the audio and data storage market. This led to its leadership in tape-based media. #innovation #technology )
3M acquired Bufcor, a manufacturer of industrial tapes, strengthening its position in the adhesive market. #acquisition #business
3M chemist Spencer Silver accidentally created a low-tack adhesive that was reusable. This discovery later led to the Post-it Note. #innovation #science
3M launched its first disposable respirator, entering the safety and personal protective equipment market. #safety #innovation
Arthur F. Brown succeeded as CEO, overseeing a period of diversification and international expansion. #leadership #business
3M acquired Riker Laboratories, entering the pharmaceutical and health care industries. #acquisition #healthcare
3M launched Thinsulate, a lightweight synthetic fiber insulation for clothing and footwear, becoming a standard in outdoor gear. #innovation #materials
After a successful internal test marketing, 3M released Post-it Notes nationally. The product became a global office staple. #innovation #products
3M's revenue growth placed it among the top 100 US industrial corporations on the Fortune 500 list. #business #finance
3M purchased TELTEC Corporation to enter the telecommunications market, offering cable and connectivity products. #acquisition #technology
3M developed optical films used in liquid crystal displays, becoming a key supplier to electronics manufacturers. #innovation #technology
Livio D. DeSimone took over as CEO, emphasizing environmental sustainability and global growth. #leadership #business
3M combined its Post-it and highlighter technologies to create the Post-it Flag Highlighter, a popular office product. #innovation #products
3M acquired Imation, a data storage products company, but later spun it off in 1996. #acquisition #business
3M spun off its data storage and imaging businesses into a new company called Imation, focusing on core industrial and consumer products. #restructuring #business
James McNerney became 3M's first CEO from outside the company, leading a period of cost-cutting and efficiency improvements. #leadership #business
3M purchased Corning's precision optics business, strengthening its position in optical films and displays. #acquisition #technology
3M launched Scotch Restickable Tape, a reusable adhesive product designed for temporary mounting. #innovation #products
George W. Buckley succeeded as CEO, focusing on innovation and research & development investment. #leadership #business
3M acquired Arizant Inc., a medical device company specializing in patient warming systems, expanding its health care portfolio. #acquisition #healthcare
3M agreed to pay $850 million to settle a lawsuit over contamination of drinking water with perfluorochemicals (PFCs) used in Scotchgard. #legal #environment
3M acquired Cogent Inc., a provider of fingerprint identification systems, entering the biometric security market. #acquisition #technology
Inge Thulin, a 30-year 3M veteran, became CEO, emphasizing global market expansion and operational efficiency. #leadership #business
3M acquired Treo Solutions, a healthcare analytics firm, to enhance its health information systems. #acquisition #healthcare
3M acquired Capital Safety, a leading manufacturer of fall protection equipment, strengthening its safety division. #acquisition #safety
3M acquired Scott Safety, a maker of respiratory and fire safety equipment, for $1.2 billion, solidifying its position in personal protective equipment. #acquisition #safety
Mike Roman succeeded as CEO, focusing on streamlining operations and accelerating growth in high-margin businesses. #leadership #business
3M faced increasing litigation over PFAS contamination, leading to large settlements and reputational challenges. #legal #environment
3M significantly increased production of N95 respirators to meet global demand during the COVID-19 pandemic, becoming a key supplier. #health #manufacturing
3M announced plans to exit all PFAS manufacturing by the end of 2025, responding to regulatory pressure and environmental concerns. #environment #business
3M agreed to a $1.4 billion settlement to resolve claims by public water suppliers over PFAS contamination. #legal #environment
3M announced the spin-off of its health care business into a separate publicly traded company named Solventum, effective in 2024. #restructuring #business
3M completed the spin-off of its health care division as Solventum Corporation, allowing both companies to focus on their respective markets. #business #restructuring