The ratings on 3M Co. reflect its leading market positions, good product diversity, strong financial profile, and commitment to accelerating growth from the current portfolio. With 2009 sales of $23.1 billion; more than 60,000 products for the industrial, consumer, and life-sciences markets; and a global presence, 3M can generate solid earnings and cash flow throughout business cycles. The company excels at developing new products and leveraging core technologies such as adhesives, films, and abrasives, resulting in returns on capital that consistently exceed 25%. Standard&Poor's Ratings Services believes the broad portfolio effect of diverse end markets, combined with a number of strong, leading brands, offsets the competitive nature of many of its businesses. Manufacturing scale allows economies that lower
