3M to spend $1 billion on deals within a year: report

07 October 2009 @ 11:02 am EDT

Diversified U.S. manufacturer 3M Co plans to spend about $1 billion on acquisitions over the next 12 months, its Chief Executive George Buckley told Bloomberg in an interview.

The company, which makes products ranging from Scotch tape to optical films for liquid crystal display televisions is planning make 10 to 20 acquisitions in various industries, Buckley told the news agency.

Buckley said 3M is looking for products that are well-known in their domestic markets.

"I think you'll see us acquiring brands that will help us penetrate foreign markets," the news agency quoted Buckley as saying.

(Reporting by Ajay Kamalakaran in Bangalore)

Copyright 2009 Thomson Reuters. All rights reserved.

E-Newsletters

We value your privacy. Your email address will not be shared.

Home
World
US
Economy
Companies
Tech
Science
Global Markets
Education
Real Estate
Forex
Commodities
Gold & Silver Matters
More Sections
Fashion
Auto
Travel
Health
Law
Entertainment
Sports
Luxury
Art
Books
Tech & Trend
Tools & Features
Topics
Blogs
Market Data
Stock Watch List
Investment Calculator
Financial Glossary
Broker Center
World Business Headlines
Updates
RSS Feeds
IBTimes on Twitter
IBTimes on Facebook
E-Newsletters
Services
Forex Newsfeed
Research
Press Release
About IBTimes
News Licensing
Media Kit
Advertise with Us
About IBTimes
Contact Us
Terms of Service
Privacy Policy