In 3M’s Health Care business, fourth quarter sales were $1.2 billion, up 5.9% compared to the fourth quarter of 2009. Local-currency sales including acquisitions increased 4.3%. Sales in local currencies grew at a double digit rate in infection prevention solutions and also drove positive local currency sales in health information systems, skin and wound care, drug delivery and food safety. Local-currency sales rose slightly in oral care.
In the Industrial and Transportation sector, fourth quarter sales climbed 10.4% to $2.1 billion in local currency. Double-digit local-currency sales growth was reported in abrasive systems, automotive OEM, energy/advanced materials and aerospace.
For the full year, 3M’s sales were $26.7 billion.“3M made great progress in 2010 as we achieved record sales and earnings per share for the year, and made significant investments to improve long-term growth,” said George Buckley, 3M chairman, president and CEO. “For example, our research and development investments of $1.4 billion fueled innovation and drove new product sales as a percent of total to 31%. We also accelerated sales and marketing investments in high-growth markets to help secure future growth. Overall, I could not be more proud of the 3M team for their effort in 2010.”