BANGALORE, India--(BUSINESS WIRE)--Oct. 30, 2009--
3M India Ltd. today announced it will establish a new R&D facility in
Bangalore to develop products for local markets and better connect
technology to customers in India.
“Building this new innovation lab is part of our growth strategy for
India,” said Inge Thulin, executive vice president, 3M International
Operations. “Our intention is to accelerate development of products ‘in
India for India’ through a local, cutting-edge R&D capability and to
provide growth and developmental opportunities for local talent.”
Jay Ihlenfeld, senior vice president, 3M Asia Pacific added, “The new
lab also will draw from the expertise of 3M’s global R&D network and
leverage its multiple technology platforms to create winning solutions.
In addition, we believe that this facility will be a critical hub to
contribute product platforms for our global markets.”
“This investment is a clear statement of 3M’s commitment to India and
our desire to grow and increase our footprint in this country,” said
Ajay Nanavati, managing director, 3M India. “Our focus will be to invest
in the right talent to recognize and meet market needs — local
innovations from local talent.”
Globally, 3M has 35 labs across the world. The new facility in India is
expected to be completed by the fourth quarter of 2010.
About 3M India Ltd.
3M India Ltd. was established in 1988 and is majority-owned by 3M. The
company markets about 5000 products in India including household brands
like Scotch-Brite® and Post-it®. The company has leading positions in
health care; industrial markets; display and graphics; consumer and
office; safety, security and protection services; electronics and
communications; and transportation. 3M India’s manufacturing facilities
are located at Bangalore, Pune and Ahmedabad.
Source: 3M
3M
Media Contacts:
Donna Fleming Runyon, 3M
651-736-7646
or
Gail
Sinha, 3M India Ltd.
+91-80-66595312
or
Investor
Contacts:
Matt Ginter, 3M
651-733-8206
or
Bruce
Jermeland, 3M
651-733-1807
