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Press Releases

  • 1/21/03 2:00 am CST
    ST. PAUL, Minn.--(BUSINESS WIRE)--3M (NYSE:MMM) today announced its sales and profit results for the fourth quarter and calendar year 2002. The company reported fourth quarter net income of $511 million, or $1.29 per share, versus $381 million, or $0.96 per share, in the fourth quarter of 2001. Excluding non-recurring items (a) in the fourth quarter of 2001, net income increased 31.8 percent from $387 million in the year-earlier quarter. Required changes in goodwillmore...
  • 1/7/03 2:37 am CST
    ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today that it will acquire NEC Corp.'s 25 percent interest in Sumitomo 3M Limited for 45 billion Japanese Yen (approximately $375 million U.S. dollars). Upon completion of the cash transaction, 3M's interest in the joint venture will increase from 50 percent to 75 percent, with the remaining 25 percent owned by Sumitomo Electric Industries Ltd., (SEI). The acquisition is expected to close Jan. 8, 2003. Sumitomo 3Mmore...