Business / Economy

3M marks 30 years in China

By HE WEI in Shanghai ( Updated: 2014-03-21 19:51

Industrial conglomerate 3M Co vowed to support the industrial transformation of China as it celebrated its 30th anniversary in the country.

By holding to its "In China, for China" principle, 3M has enjoyed robust double-digit growth for over a decade, said Inge Thulin, 3M's president and chief executive officer.

"We are here for 30 years, and what has happened here is phenomenal. We built a $3.8 billion business, developed an organization of 8,000 professionals, created extensive research and development, and a manufacturing network that brings our innovation to all key cities," Thulin said in Shanghai, 3M's China headquarters.

3M's China operation has become the company's largest business operation outside its home market in the United States. Sales in China alone jumped to about 15 percent of its global revenue in 2013, according to James McSheffrey, chief executive officer of 3M China.

To capitalize on local potential, 3M China will enhance its business footholds in healthcare, occupational safety, new energy, environment protection, infrastructure and public consumption.

The company also pledged to keep investing in China with elevated research and development and manufacturing capabilities in the next five years.

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