3M reports record profits in fourth quarterCottage Grove's largest employer reports $935 million in profits during last fourth of 2009
By: Bulletin staff, South Washington County Bulletin
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.