3M’s global strength enables record second-quarter sales and earnings

3M’s strong global portfolio enabled the company to report today second-quarter sales of $6.7 billion, an increase of 9.7 percent over the second quarter of 2007.

Net income was $945 million, or $1.33 a share, versus $917 million, or $1.25 a share in the corresponding period last year.

The company operates its largest North American manufacturing plant in Hutchinson.

3M’s three largest businesses — Industrial and Transportation, Health Care and Safety, Security and Protection Services — grew at double-digit rates.

“Our record sales and earnings for the second quarter are a remarkable achievement by 3M employees around the globe, given the tough economic conditions we have seen in the U.S. and the changing dynamics in the optical films industry,” said George W. Buckley, 3M chairman, president and CEO.

The company drove outstanding growth across its international operations—3M sales in Latin America increased 32 percent over last year, and Europe achieved 18 percent sales growth, while Canada grew by 14 percent. Sales in Asia Pacific improved by 1 percent, 17 percent excluding optical headwinds. International sales now account for close to two-thirds of 3M’s total.