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As 3M approaches 119 years old on June 13th, it’s important to reflect on our humble beginnings.
It was a rocky start for the company. What originally started as venture in mining raw materials turned out much less valuable than originally anticipated. With sales lacking, the team instead shifted gears to try manufacturing. They would make an attempt at creating their own version of an artificial abrasive cloth to compete with others in the market at the time. However, success did not come easy as the cloth started out flimsy and needed improvements. Motivated to improve quality to succeed, the team worked diligently and successfully debuted the company’s first-ever exclusive product, Three-M-ite Cloth, in 1914.
Thanks in-part to Three-M-ite Cloth, 3M experienced enough profits to declare its first dividend of 6 cents per share in 1916. “This is the day we have been waiting for – there are a lot of people who thought we would never make it” – Edger Ober, one of 3M’s first investors announced. From there, the quaint Minnesota Mining and Manufacturing company would blossom, evolving into what we know today as 3M – a company with more than 60,000 products committed to improving lives around the world.
It was a rocky start for the company. What originally started as venture in mining raw materials turned out much less valuable than originally anticipated. With sales lacking, the team instead shifted gears to try manufacturing. They would make an attempt at creating their own version of an artificial abrasive cloth to compete with others in the market at the time. However, success did not come easy as the cloth started out flimsy and needed improvements. Motivated to improve quality to succeed, the team worked diligently and successfully debuted the company’s first-ever exclusive product, Three-M-ite Cloth, in 1914.
Thanks in-part to Three-M-ite Cloth, 3M experienced enough profits to declare its first dividend of 6 cents per share in 1916. “This is the day we have been waiting for – there are a lot of people who thought we would never make it” – Edger Ober, one of 3M’s first investors announced. From there, the quaint Minnesota Mining and Manufacturing company would blossom, evolving into what we know today as 3M – a company with more than 60,000 products committed to improving lives around the world.
- Phone number(s)(63.2) 588-9100
- Information pageLink
- Location(s) 9/F Three World Square Building, Upper McKinley Road, McKinley Hill Fort Bonifacio, Taguig, Philippines
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