3M aims for Chinese revenue growth of three times global sales

|About: 3M Company (MMM)|By:, SA News Editor

3M (MMM) is targeting Chinese revenue growth of 15% over the next five years, three times the company's forecasts for overall sales of +4-6%, CEO Inge Thulin has told Bloomberg.

China accounted for 10% of 3M's total revenue of $30.9B in 2013.

3M is looking to benefit from the Chinese government's push to increase consumption, reduce pollution, and improve water and food safety. "There are big opportunities for us in those areas," Thulin said. 3M's anti-pollution face masks, for example, sold out in December.

3M will also attempt to continue to grow its industrial products business.