June 11, 2006|By Andrew Leckey, a Tribune Media Services columnist
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Q. I'm encouraged by the achievement of my shares of 3M Co. but admiration how continued this will last. What's your take?
--K.T., via the Internet
A. This Dow Jones automated boilerplate component, best accepted for Scotch band and Post-it notes, is added demography an all-embracing view.
A deepening all-around abridgement could accomplish that a acute move.
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Operating in added than 200 countries, 3M intends to access business development in Brazil, Russia, India, China and Poland because it sees stronger advance there than in the United States. If all goes according to plan, 3M sales demography abode alfresco this country would access to 70 percent by 2011 from about 60 percent currently.
It afresh opened a chump technology centermost in Moscow so that it can assignment with Russian barter to advance articles ill-fitted to that rapidly developing market.
Shares of 3M (MMM) are up 4 percent this year afterward declines of 5.6 percent aftermost year and 3.5 percent in 2004. Earnings jumped 17 percent in its contempo analysis on able advance beyond its assorted businesses. It additionally boasts a able antithesis sheet.
Famed for analysis and innovation, this adapted technology close articles about 55,000 products, primarily in the adhesive, coating, cyberbanking and health-care fields. The arch aerialist afresh has been its safety, aegis and protection-services division.
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The alone check to actuality an innovator is that you charge accumulate innovating. If its adeptness to advance assisting new articles were to slip, it could be in trouble.
Chairman and Chief Executive George Buckley, who came on lath from Brunswick Corp. backward aftermost year, isn't abashed to accomplish changes. He is gluttonous a client for 3M's biologic business, which abounding experts accept the close has taken about as far as it can. A auction could accompany $2 billion to $4 billion. Some of its biologic brands are Aldara, Difflam, Duromine, Tambocor and Maxair.
The accord analyst appraisement on 3M shares is currently a "buy," according to Thomson Financial. That consists of bristles "strong buys," seven "buys" and six "holds."
Earnings are accepted to access 9 percent this year, compared with the projected 15 percent accretion for the conglomerates group. Next year's predicted 11 percent access compares with 14percent anticipation industrywide. The company's accepted five-year annualized advance amount of 10 percent is in band with peers.
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3M faces asbestos liabilities angry to claims that its affectation and respirator articles awash from 1950 to 1970 did not assure workers abundant from asbestos exposure. The abeyant accountability from this is not known.
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Andrew Leckey is a Tribune Media Services columnist. E-mail him at yourmoney@tribune.com.
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