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3M reports record profits in fourth quarter

News Cottage Grove,Minnesota 55016
SWC Bulletin
3M reports record profits in fourth quarter
Cottage Grove Minnesota 7584 80th Street South 55016

3M Co. reaped a record $935 million in fourth-quarter earnings, the Maplewood-based company reported Thursday.

The numbers for the last quarter of 2009 were up 38.4 percent compared to the same period a year ago, 3M said in a statement.

3M's Cottage Grove plant is the city's largest employer.

"By any measure, 2009 was a highly successful year for 3M," said George Buckley, 3M's chairman, president and CEO in a statement.

Overall, the company saw its worldwide sales drop 8.5 percent in 2009.