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3M Reports First-Quarter 2019 Results; Company Initiates Restructuring

Sales of $7.9 billion are down 5.0% year-on-year.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

3M reported first-quarter 2019 results.   Sales were down 5.0% to $7.9 billion. Organic local-currency sales declined 1.1% while divestitures, net of acquisitions, decreased sales by 0.5%. Foreign currency translation decreased sales by 3.4% year-on-year.   Total sales grew 0.3% in Health Care, with declines of 1.9% in Consumer, 4.2% in Safety and Graphics, 6.6% in Industrial, and 11.8% in Electronics and Energy.   “The first quarter was a disappointing start to the year for 3M,” said Mike Roman...

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