3M CEO Outlines Strategies for the Future and Sets Five-Year Financial Targets

  3M CEO Outlines Strategies for the Future and Sets Five-Year Financial
  Targets

Business Wire

ST. PAUL, Minn. -- November 08, 2012

At a meeting of institutional investors and analysts in St. Paul today, 3M
business leaders, including chairman, president and CEO Inge Thulin, will
outline the company’s vision and strategies to ensure continued world-class
performance.

Those strategies include: expand 3M’s relevance to customers and presence in
the marketplace; gain market share and accelerate penetration; invest in
innovation; achieve regional self-sufficiency; build high-performing and
diverse global talent; and drive consistent and superior operational
excellence.

Thulin will also present the company’s five-year financial objectives:

  *9 to 11 percent growth in earnings per share
  *4 to 6 percent organic revenue growth
  *more than 20 percent return on invested capital
  *100 percent free cash flow conversion

In addition, Thulin will announce an increase in 3M’s annual R&D investment to
6 percent of sales by 2017, emphasizing the importance of innovation to 3M’s
future.

“Innovation is at the center of our plan, so it is essential that we
strengthen our commitment to R&D,” said Thulin. “I am confident that 3M
innovation, along with world-class talent, strong R&D and manufacturing
capabilities, unparalleled global reach, and our unrelenting focus on
operational excellence, will drive future success for our company and our
shareholders.”

Leaders from several of the company's businesses will describe how these
strategies are enhancing results and helping the company achieve its vision:

3M Vision

  *3M Technology Advancing Every Company
  *3M Products Enhancing Every Home
  *3M Innovation Improving Every Life

A live webcast of the 8:00 a.m. (CST) meeting will be available on 3M’s
Investor Relations home page at http://investor.3m.com. Replays will also be
available after the meeting.

Forward-Looking Statements

This news release contains forward-looking information about 3M’s financial
results and estimates and business prospects that involve substantial risks
and uncertainties. You can identify these statements by the use of words such
as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,”
“will,” “target,” “forecast” and other words and terms of similar meaning in
connection with any discussion of future operating or financial performance or
business plans or prospects. Among the factors that could cause actual results
to differ materially are the following: (1)worldwide economic and capital
markets conditions and other factors beyond the Company’s control, including
natural and other disasters affecting the operations of the Company or its
customers and suppliers; (2) the Company’s credit ratings and its cost of
capital; (3)competitive conditions and customer preferences; (4)foreign
currency exchange rates and fluctuations in those rates; (5)the timing and
market acceptance of new product offerings; (6)the availability and cost of
purchased components, compounds, raw materials and energy (including oil and
natural gas and their derivatives) due to shortages, increased demand or
supply interruptions (including those caused by natural and other disasters
and other events); (7)the impact of acquisitions, strategic alliances,
divestitures, and other unusual events resulting from portfolio management
actions and other evolving business strategies, and possible organizational
restructuring; (8)generating fewer productivity improvements than estimated;
(9)security breaches and other disruptions to the Company’s information
technology infrastructure; and (10) legal proceedings, including significant
developments that could occur in the legal and regulatory proceedings
described in the Company’s Annual Report on Form10-K for the year ended
December31, 2011 and its subsequent quarterly reports on Form 10-Q (the
"Reports"). Changes in such assumptions or factors could produce significantly
different results. A further description of these factors is located in the
Reports under “Cautionary Note Concerning Factors That May Affect Future
Results” and “Risk Factors” in PartI, Items 1 and 1A (Annual Report) and in
Part I, Item 2 and Part II, Item 1A (Quarterly Report). The information
contained in this news release is as of the date indicated. The Company
assumes no obligation to update any forward-looking statements contained in
this news release as a result of new information or future events or
developments.

About 3M

3M captures the spark of new ideas and transforms them into thousands of
ingenious products. Our culture of creative collaboration inspires a
never-ending stream of powerful technologies that make life better. 3M is the
innovation company that never stops inventing. With $30 billion in sales, 3M
employs 84,000 people worldwide and has operations in more than 65 countries.
For more information, visit www.3M.com or follow @3MNews on Twitter.

Contact:

3M
Media Contact:
Jacqueline Berry, 651-733-3611
or
Investor Contacts:
Matt Ginter, 651-733-8206
or
Bruce Jermeland, 651-733-1807
 
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