3M abrasives company was started in 1905 in Duluth, Minnesota. Later, the company moved to St. Paul, Minnesota. Over the last 100 years, 3M has expanded its market and is now a Fortune 100 company.
During World War I, 3m created Tree-M-Ite. The Tree-M-Ite sandpaper has a massive booster for profits and helped revolutionize the sandpaper industry. The Tree-M-Ite sandpaper from 3M has a thick cloth backing, and this packing is still used today. In 2002 3M revolutionized the market again with the introduction of Regalite sanding paper. The Regalite sanding paper became a staple in the 3M sandpaper portfolio and is still a staple today.
3M sells in more than 200 companies with corporate operations in more than 70 countries. 3M has focused on innovation, and the industry needs helping to make them wildly successful. 3M is a fixture on the Fortune 500 list because of its ability to innovate and keep up with the needs of different industries. Looking at 3M’s sales, more than one-third are from products created in the last five years; innovation is paving the way for this company.