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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

500546

Report Date :

29.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :           

3M COMPANY

 

 

Registered Office :

251 Little Falls Drive, Wilmington, New Castle, De, 19808, USA

 

 

Country :

United States

 

 

Financials (as on) :

31.12.2017

 

 

Date of Incorporation :

19002

 

 

Legal Form :

Corporation

 

 

Line of Business :

Subject operates as a diversified technology company worldwide.

 

 

No. of Employees :

91,536

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A+

 

Credit Rating

 

Explanation

Rating Comments

A+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

United States

A1

A1

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 


 

UNITED STATES - ECONOMIC OVERVIEW

 

The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.

In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.

Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.

The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.

Imported oil accounts for nearly 55% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.

The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.

Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures.

In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.

In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.

In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and further reduce them as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.

 

Source : CIA

 

 


 

STATUTORY INFORMATION

 

Legal Name:

3M COMPANY

TradeName:

3M COMPANY

ID:

262413

Date Created:

1902

Date Incorporated:

6/25/1929

Legal Address:

251 Little Falls Drive, Wilmington, New Castle, De, 19808, USA

Operative Address:

3M Center

St. Paul, MN 55144

United States

Telephone:

651-733-1110

Fax:

-

Legal Form:

Corporation

Email:

-

Registered in:

Delaware

Website:

www.3m.com

Contact:

Mr. Inge G. Thulin - Chairman, CEO & President

Staff:

91,536 Employees

Activity:

SIC Code 3841, Surgical and Medical Instruments and Apparatus

 

 

History:

The company was founded in 1902 and is headquartered in St. Paul, Minnesota.

 

 

Key Developments:

3M Company Presents at OCP U.S. Summit, Mar-21-2018 02:30 PM

Mar 19 18

3M Company Presents at OCP U.S. Summit, Mar-21-2018 02:30 PM. Venue: San Jose, California, United States. Speakers: Michael E. Garceau, Phillip Tuma.

 

3M Company Presents at KNect365 Life Sciences’ BioProcess International West 2018, Mar-19-2018 through Mar-22-2018

Mar 16 18

3M Company Presents at KNect365 Life Sciences’ BioProcess International West 2018, Mar-19-2018 through Mar-22-2018. Venue: Hilton San Francisco Union Square, San Francisco, California, United States. Presentation Date & Speakers: Mar-22-2018, Andrew Tustian, 3M Representative.

 

3M Company Presents at Ethisphere Global Ethics Summit, Mar-15-2018 10:40 AM

Mar 13 18

3M Company Presents at Ethisphere Global Ethics Summit, Mar-15-2018 10:40 AM. Venue: New York, New York, United States. Speakers: Veena M. Lakkundi, Chief Compliance Officer and Vice President of Compliance & Business Conduct.

 

 

PRINCIPAL ACTIVITY

 

3M Company operates as a diversified technology company worldwide.

Products/Services description:

The company’s Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products. Its Safety and Graphics Business segment provides personal protection products, transportation safety products, commercial graphics systems, commercial cleaning and protection products, floor matting, roofing granules for asphalt shingles, and fall protection products. The company’s Health Care segment offers medical and surgical supplies, skin health and infection prevention products, inhalation and transdermal drug delivery systems, dental and orthodontic products, health information systems, and food safety products. Its Electronics and Energy segment provides optical films; packaging and interconnection devices; insulating and splicing solutions; touch screens and touch monitors; renewable energy component solutions; and infrastructure protection products. The company’s Consumer segment offers sponges, scouring pads, high-performance cloths, repositionable notes, indexing systems, home improvement and care products, and protective materials; and consumer and office tapes and adhesives. It serves automotive, electronics and automotive electrification, appliance, paper and printing, packaging, food and beverage, construction, medical clinics and hospitals, pharmaceuticals, dental and orthodontic practitioners, health information systems, food manufacturing and testing, consumer and office retail, office business to business, home improvement, drug and pharmacy retail, and other markets directly, as well as through wholesalers, retailers, jobbers, distributors, and dealers.

Brands:

3M

Sales are:

Wholesale

Clients:

Drypers Andina S.A.

Pyrotek Mexico S De Rl De Cv

Joto Abrasives Pvt Ltd.

3m Paraguay.

Suppliers:

Source Bioscience (Storage) Ltd.

Raichem Srl

3 M Belgium Bvba

3 M Taiwan Ltd.

Operations area:

National and International

The company imports from

UNITED KINGDOM

ITALY

BELGIUM

TAIWAN

The company exports to

COLOMBIA

MEXICO

INDIA

PARAGUAY

The subject employs

91,536 Employees

Payments:

Regular

 

 

LOCATION

 

Headquarters :

3M Center

St. Paul, MN 55144

United States

Branches:

The company has several branches. Some of them are:
3M Decatur Plant

Decatur Site

1400 State Docks Road

Decatur, AL 35601-8807, USA

3M Little Rock Plant

3M Little Rock-Granule Plant

3110 Walters Road

Little Rock, AR, USA

 

3M Irvine Plant

3M Irvine

2111 McGaw Avenue

Irvine, CA 92614, USA

 

3M Newark Plant

3M Newark

650 Dawson Drive

Newark, DE 19713-3412, USA

 

3M Hartford City Plant

3M Hartford City 0304S 075E Hartford City, IN 47348, USA

Related Companies:

We attach the company`s list of subsidiaries.

 

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

 

Listed at the stock exchange:

YES: 3M Company (MMM)

Market Capital:

130.735B

Outstanding Shares:

595.5 million

Shareholders:

 

Direct Holders

 

Name

Shares

THULIN INGE G

227,767

SHIN HAK CHEOL

64,557 

DELGADO JOAQUIN

37,632 

VALE MICHAEL G.

33,338 

BUSHMAN JULIE L

29,918 

GANGESTAD NICHOLAS C

26,355 

Top Institutional Holders

 

Holder

Shares

Vanguard Group, Inc. (The)

48,885,164

State Street Corporation

45,127,985

Blackrock Inc.  

38,828,584

Massachusetts Financial Services Co.

11,860,716

State Farm Mutual Automobile Insurance Co

11,131,700

Bank of America Corporation

9,784,249

FMR, LLC

8,710,766

Northern Trust Corporation

8,476,503

Wells Fargo & Company

7,513,138

Geode Capital Management, LLC

6,901,534

Top Mutual Fund Holders

 

Holder

Shares

Vanguard Total Stock Market Index Fund

13,773,479

Vanguard 500 Index Fund         

9,444,656

SPDR S&P 500 ETF Trust

7,570,180

SPDR Dow Jones Industrial Average ETF

6,613,836

Vanguard Institutional Index Fund-Institutional Index Fund

6,557,616         

Vanguard Specialized-Dividend Appreciation Index Fund

5,091,812         

MFS Series Trust I-MFS Value Fund

4,361,983

Fidelity Contrafund Inc

4,042,732

iShares Core S&P 500 ETF

3,870,185

Vanguard Growth Index Fund

3,801,321

Management:

Mr. Inge G. Thulin - Chairman, CEO & President

Mr. Nicholas C. Gangestad - Senior VP & CFO

Mr. Michael F. Roman - COO & Executive VP

Dr. Michael G. Vale Ph.D. - Executive Vice President of Health Care Business Group

Mr. Joaquin Delgado - Executive Vice President of Consumer Business Group

 

 

FINANCIAL INFORMATION

 

 

We attach company’s last financial statements.

LEGAL FILINGS

 

 

 

PATENTS

Method Of Drug Delivery For PTH, PTHrP And Related Peptides

Publication number: 20140046293

Abstract: The present invention provides compositions, devices, methods and processes related to the intradermal delivery of PTHrP and PTHrP analogues, particularly [Glu22,25, Leu23,28,31, Aib29, Lys26,30]hPTHrP(1-34)NH2.

Type: Application

Filed: March 8, 2013

Publication date: February 13, 2014

Applicants: 3M Innovative Properties Company, a wholly owned subsidiary of 3M Company, RADIUS HEALTH, INC.

Inventors: Radius Health, Inc., 3M Innovative Properties Company, a wholly owned subsidiary of 3M Company

 

Method Of Drug Delivery For PTH, PTHrP And Related Peptides

Publication number: 20140046292

Abstract: The present invention provides compositions, devices, methods and processes related to the intradermal delivery of PTHrP and PTHrP analogues, particularly [Glu22,25, Leu23,28,31, Aib29, Lys26,30]hPTHrP(1-34)NH2.

Type: Application

Filed: March 8, 2013

Publication date: February 13, 2014

Applicants: 3M Innovative Properties Company, a wholly owned subsidiary of 3M Company, RADIUS HEALTH, INC.

Inventors: Radius Health, Inc., 3M Innovative Properties Company, a wholly owned subsidiary of 3M Company

 

 

Government Contracts:

Government Contractor: 3M COMPANY

Address: 3M CENTER BLDG 220 11W 02

SAINT PAUL, MN 55144-1001

Number of Defense Contracts Awarded: 2,347   

Dollar Amount of Defense Contracts Awarded: $323,690,265

 

 

CASES

Lynch v. 3M Company et al

Plaintiff: Margia Lynch

Defendant: 3M Company and Arizant Healthcare, Inc.

Case Number: 0:2018cv00837

Filed: March 26, 2018

Court: Minnesota District Court

Office: DMN Office

County: XX US, Outside State

Presiding Judge: Joan N. Ericksen

Referring Judge: Franklin L. Noel

Nature of Suit: Other

Cause of Action: 28:1332

Jury Demanded By: Plaintiff

 

Wiggins v. 3M Company et al

Plaintiff: Francis Wiggins

Defendant: 3M Company and Arizant Healthcare, Inc.

Case Number: 0:2018cv00842

Filed: March 26, 2018

Court: Minnesota District Court

Office: DMN Office

County: Ramsey

Nature of Suit: Other

Cause of Action: 28:1332

Jury Demanded By: Plaintiff

 

Pavia et al v. 3M Company et al

Plaintiff: Johnny Pavia and Yolanda Pavia

Defendant: 3M Company and Arizant Healthcare, Inc.

Case Number: 0:2018cv00839

Filed: March 26, 2018

Court: Minnesota District Court

Office: DMN Office

County: Ramsey

Nature of Suit: Other

Cause of Action: 28:1332

Jury Demanded By:

 

 

TRADEMARKS

TRI-M-ITE

Abrasive Paper and Abrasive Cloth

Owned by: 3M Company

Serial Number: 71138585

 

3M CO.

ABRASIVE CLOTH AND PAPER

Owned by: 3M Company

Serial Number: 71217946

 

CRYSTAL BAY

ABRASIVE CLOTH AND ABRASIVE PAPER

Owned by: 3M Company

Serial Number: 71389647

 

3M

Surgical Tape

Owned by: 3M Company

Serial Number: 71469961

 

UNDERSEAL

RUST, CORROSION, AND ABRASIVE RESISTANT RUBBERIZED COATING MATERIAL, IN SPRAYABLE FORM, FOR PROTECTIVELY COATING EXPOSED…

Owned by: 3M Company

Serial Number: 71521356

 

KEL-F

HIGH TEMPERATURE THERMOPLASTIC FORMED AS A SOLID CORE AND AS GRANULES OF MOLDING POWDER TO BE USED IN THE FABRICATION OF…

Owned by: 3M Company

Serial Number: 71552983

 

SCOTCH-WELD

HIGH STRENGTH ADHESIVE FILM SOLD IN ROLL FORM

Owned by: 3M Company

Serial Number: 71566994

 

 

SUMMARY

 

3M Company operates as a diversified technology company worldwide.

 

The company operates in five segments: Industrial segment, Safety and Graphics Business segment, Health Care segment, Electronics and Energy segment and Consumer segment.

 

It has 91,536 Employees.

 

It operates nationally and internationally, mainly exporting to Colombia, Mexico, India and Paraguay.

 

The company shows positive profitability in its last financial figures.

 

 

RISK INFORMATION

 

DEBTS

Controlled

PAYMENTS

Regular

CASH FLOW

Normal

STATUS

Active

 

 

INTERVIEW

 

NAME

William

POSITION

Sales

COMMENTS

He confirmed the name of the company, the address of the headquarters and location, the date of creation of the company, the number of employees and the name of the Chief Executive Officer.

 

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

INR 65.04

UK Pound

1

INR 92.28

Euro

1

INR 80.62

US Dollar

1

INR 65.14

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

TPT

 


 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.