The Rising Influence of Rising Affluence

[jbog]

3M

Dew I mostly have delt with their Industrial and Safety Group. (coated abrasive and personnel protection)

I tried to lay out a schedule over the years but with their explosion of safety masks during covid it really clouds the picture. What I can say is that in 2018 this group represented 37% of 3M;s sales at $12.3B and 5 years later in 2023 it represented 33% of sales at $10.9 B.

So not only are their group sales down but I'm sure there's at least a 20-30 price increase in their later numbers. I didn't incorporate any Russian adjustment in these numbers.

It's still a fine company but they have to get back to work.