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3M Releases Results

February 28, 2011

3M's fourth quarter sales were $6.7 billion, up 9.6% compared to the fourth quarter of 2009.

Quarterly organic sales volumes increased in all six of 3M's businesses, led by a 19.8% increase in the Electro and Communications business and a 14.7% increase in Display and Graphics.

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.

Health Care business operating income in the fourth quarter was $347 million, with margins at 29%.

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.

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