3M, which stands for Minnesota Mining and Manufacturing Company, was founded in 1902 by Henry S. Bryan, Hermon W. Cable, John Dwan, William A. McGonagle, and Dr. J. Danley Budd. These five businessmen set out on a mission to find a mineral to be used in grinding wheels. After a run of bad luck, the founders decided to focus their efforts towards mastering the production of sandpaper products. Nearly fifteen years later, the five businessmen were able to work through their inefficiencies and master the production of quality sandpaper. In 1916, 3M paid its first dividends of six cents per share, which has grown to $4.52 per share according to the 2009 Annual Report. This growth has progressed with years of product developments and innovations, and the acquisition of other companies and their products.
More facts about the company can be found at the following link: 3M History at a Glance
I just saw a commercial the other day about the Filtrete Water Station by 3M. It looks like a neat and innovative product.
ReplyDelete