3M Said to Seek Sale of Electronics Units Worth $1 Billion

3M Co. is working with Goldman Sachs Group Inc. to sell components of its electronics business that the industrial- and consumer-products maker has decided are underperforming, people with knowledge of the matter said.

The business units collectively represent about $1 billion in sales, said one of the people, who asked not to be identified because the information is private. 3M will probably sell them piecemeal since there isn’t an obvious buyer for the entire group, the person said. The units could collectively fetch about $1 billion if buyers are found, another person said. 3M reported sales of $31 billion in 2013.