3M continues to inspire and encourage innovation and creativity to accelerate growth and deliver excellent financial results, 3M chairman, president and CEO George W. Buckley told stockholders today at the company’s annual meeting in St. Paul.

“The people of 3M are once again driving innovation through their energy and imagination,” Buckley said. “At its core, 3M remains an idea company that prospers best when we commit ourselves to invest in ideas, technology development and new products.”

Buckley cited increased investments in research and development — up more than 11 percent in 2007 — and the steady increase in the introduction of new products — up by about four percent in the last two years — as examples of 3M’s commitment to innovation. Contributing to the overall growth strategy is the company’s focus on growing its core by building broader and better capability with complementary acquisitions, by capitalizing on emerging business opportunities in adjacent spaces, and by continuing to drive international growth.

3M continues to invest resources and energy in new product platforms like the aluminum composite conductor, which has the potential to significantly change the way electricity is distributed; and a new mobile projection engine, which can be integrated into virtually any personal mobile device or used as a stand-alone product.

“3M’s emerging technology portfolio is expanding into areas that will touch innumerable lives around the world,” Buckley said. “I remain incredibly optimistic about our future prospects and about the long-term health of 3M.”

The company operates its largest North American manufacturing plant in Hutchinson, where it employs about 1,500 people.