3M CEO George Buckley outlined to investors this week&nbsp ; how the diversified manufacturer wants to continue to rebuild and expand its core, especially adhesives, abrasives, tapes and films.
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Its continuing strategy, he said, is to advance its core businesses, grow through complementary acquisitions, build new business in adjacent markets and drive strong international expansion.
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I’m heartened by the way our growth strategy is taking hold and gaining momentum,” Buckley said. “We have increased R & D investment by 11% over 2006 and picked up the pace of new product introductions. In addition, we have made 15 complementary acquisitions this year.
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3M is expected to announce soon the acquisition of California-based rival Standard Abrasives.
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In addition, Buckley outlined plans to accelerate international growth through leveraging local and regional brands, and streamline the company’s supply chains by finding manufacturing operations closer to customers in emerging markets.