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3M (NYSE: MMM), St. Paul, MN, reported 2011 sales of $29.6 billion, up 11.1 percent from the prior year. Five of the company’s six business segments posted growth for the year, led by Industrial and Transportation at 19.5 percent and Safety, Security and Protection Services at 15.2 percent.
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Latin America/Canada was the fastest-growing geographic region in 2011 at 15.6 percent.
In the fourth quarter, 3M reported sales were up 5.7 percent from the prior-year period to $7.1 billion. Organic local-currency sales growth was 3.3 percent.
Sales growth in the fourth quarter was strongest in Industrial and Transportation at 14.3 percent, Safety, Security and Protection Services at 9.4 percent, Consumer and Office at 6.1 percent and Health Care at 5.4 percent. Sales declined 2.7 percent in Electro and Communications and 8.8 percent in Display and Graphics, as many customers continued to modify production levels in line with weaker demand.
On a geographic basis, sales growth was strongest in Latin America/Canada at 9.7 percent and the U.S. at 7.4 percent.
Industrial and Transportation
Consumer and Office
Safety, Security and Protection Services
Display and Graphics
Electro and Communications