3M eyes 20pc growth in ME consumer business
Dubai, October 31, 2012
The diversified product offering of 3M, a major innovation company, in the Middle East will contribute to a robust growth of 20 per cent for consumer business in 2013, said a senior official.
“The Middle East is one of the fastest growing regions for 3M consumer business globally which registered sales of $4.3 billion in 2011,” added Michael Vale, executive vice president, Consumer Business during a recent visit to Dubai.
“The rapid innovation of our products has kept pace with the evolving needs of our consumers, and sustained increase in consumption.”
During his maiden visit to Dubai, Vale laid strong emphasis on raising brand awareness about 3M’s consumer business portfolio and highlight the technological innovations that are at the core of the solutions.
Supplying an array of innovative products that keep homes cleaner, offices organised and buildings well-maintained, 3M’s consumer business is home to some of the world’s best-known brands, including Post-it, Scotch, Scotch-Brite, Filtrete, Nexcare, and Command.
Research and development has also been identified as a key component of future growth plans for 3M consumer business in the Middle East and a targeted five year investment strategy has been outlined to support the growth of business in the region.
Product acquisitions for the consumer business will also be a key component of the growth strategy as 3M will continue to evaluate the inclusion of popular local consumer brands to its product portfolio, vale said.
Vale’s visit to Dubai comes soon after 3M’s recent announcement for realigning its major business groups to better serve global markets and customers, a statement said.
The new structure will be comprised of five business groups: Consumer (2011 sales of $4.2 billion), Industrial ($9.6 billion), Health Care ($5.0 billion) and two newly formed business groups: Safety & Graphics ($5.5 billion), and Electronics & Energy ($5.7 billion). – TradeArabia News Service