At an institutional investor and analyst meeting in New York, 3M, St. Paul, MN, said it expects double-digit earnings growth in 2008.
Sales are also expected to grow at double-digit rates, with organic local currency growth of 5 to 8% and acquisitions adding more than 3%.
Our growth agenda is taking hold, with more of our businesses growing at accelerated rates,” CEO George Buckley said. “We have done much to bolster our growth capability in the past two years, and it is paying off.”
Buckley reaffirmed the company’s commitment to strengthening its traditional core businesses and franchises through investment in R & D, “tuck-in” acquisitions and supply chain optimization. He also expects growth in emerging economies, which has exceeded 19% each year since 2002, to continue adding significantly to 3M’s revenue expansion.
A Webcast replay of the meeting is at 3M’s Investor Relations home page