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3M Sees Bright ME Prospects

The Maplewood, Minnesota-based company, primarily and popularly known for paper and adhesive products, boasts of a wide portfolio spanning 37 divisions and 40 technologies, the biggest of which are its healthcare and electro-communications units.

In an exclusive interview with Khaleej Times, a top official spoke of how 3M is implementing various strategies to satisfy consumer demands, and the prospects of the industries they are involved in the aftermath of the global financial crisis.

“Our team in the Middle East has done an outstanding job in bringing (to the region) the brand promise of 3M,” said Dr Joaquin Delago, Vice-President for Operations of 3M’s Electro and Communications Division, which is composed of units in telecommunications, connectivity solutions, fibre technology, power distribution and electronics.

“They have been able to grow the business at a faster pace than anywhere in the world.”

Dr Delago flew over from Europe for a brief visit to the region, with a special focus on the UAE, and said that he “senses the same excitement... and desire” that he has felt during his previous visits to other countries.

He said that 3M is looking to “personalise” the brand in each country they are in. “We have the capability of essentially recreating in each one of the countries in terms of size and focus, that will mirror what the country needs,” Dr Delago said, stating an example that “3M in Dubai will be different from what it will look like in Saudi Arabia.”

Before coming over to the Emirates, Dr Delago made a stop in the kingdom, and was particularly impressed with the way investments have been going on in the two countries.

He pointed out though that despite these developments, the state of the economy is still not out of the woods.

“The reality is that the financial crisis is not over; there is an overall recovery in certain markets, particularly in the electronics sector... In areas like telecommunications and infrastructure, the expenditures are still very tight,” Dr Delago said.

He added that “infrastructure is still a good investment,” citing Saudi Arabia as an example. “The kingdom is investing significantly in this sector.”

Asked how 3M maneuvered through the crisis, Dr Delago smiled and quipped “carefully.”

With its vast portfolio of businesses, how the company would deal with trying to meet the demands of local consumers “is a lot of work to do,” said Irfan Malik, 3M’s Vice-President for Operations in the Middle East and North Africa Region.

Research and development, or R&D, is vital to the company’s mission, and Malik said that the company has no qualms on spending for this purpose.

“Despite the downturn, 3M spent $1.3 billion last year for R&D alone,” 
he said.

“In the past five years, 3M Corporate has spent $7 billion on developing new products,” he said, which is evident in the way the company has conceptualised and launched better products for its consumers.

An example of 3M’s latest technological advancement is its Novec 1230, an environmentally-friendly fire protection fluid that does not release any greenhouse gases, the primary cause of ozone layer deterioration.

Novec is suitable in places where water is not an option to put out fires such as data centres, laboratories and hospitals, as it does n10ot harm electronics components and paper. Dr Delago demonstrated this during the interview by submerging his mobile phone into a Novec solution, which came out 
unscathed.

Compared to other ozone-depleting solutions, Dr Delago said that the effect of Novec on the environment is “several thousand times lower.”

The prospect for good business not only for 3M but for all other sectors holds a “bright future despite the realities we are living in,” he said.

“The growth here (in the region) will be very, very significant in the future,” Dr Delago concluded.

alvin@khaleejtimes.com