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3M India > Company History > Diversified > Company History of 3M India - BSE: 523395, NSE: 3MINDIA
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3M India
BSE: 523395|NSE: 3MINDIA|ISIN: INE470A01017|SECTOR: Diversified
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Company History - 3M India
1987
 
 - The Company was originally incorporated as a private limited under
 the name and style of Nav Electromed Pvt. Ltd. on 4th June.  The
 name
 was later changed to Birla 3M Pvt. Ltd. in February, 1988.
 Subsequently the company was converted into a public limited company
 on
 27th April 1989.
 
 - The Company was formed as a joint venture between Minnesota Mining
 and manufacturing Company (3M) of USA and Scinitar investment and
 Trading Co. Pvt. Ltd.
 
 - The Company is manufacturing telecommunication connectors and
 gearing
 itself to manufacture speciality pressure sensitive coated tapes for
 medical/surgical and packaging applications and speciality chemicals
 and Keonics-Electronics City near Bangalore.
 
 1988
 
 - The Company entered into a technical agreement with 3M on 17th
 March
 for transfer and imparting of the technical data by 3M.
 
 1992
 
 - 70 No. of equity shares subscribed for by signatories to
 Memorandum
 of Association.  70,00,000 No. of equity shares of Rs 10 each were
 then
 issued at par of which the following were reserved for allotment:
 
 - (i) 32,00,000 shares to foreign collaboration Minnesota to Mining
 &
 Mfg. to USA;
 
 - (ii) 19,20,000 shares to Scimitar Investment and Trading Co. Pvt.
 Ltd.;
 
 - (iii) 12,79,930 shares to Shares on Investment & Trading Co. Pvt.
 Ltd.  Of the remaining, 3,50,000 shares reserved for allotment on
 preferential basis to employees of promoters companies (only
 1,45,900
 shares taken up).  Balance 2,50,000 shares along with 2,04,100
 shares
 not taken up by employees were issued to the public in February
 1991.
 Additional 22,00,000 shares allotted to retain oversubscription
 (9,60,000 shares to promoters and 12,40,000 shares to public).
 
 1993
 
 - 20,65,000 No. of equity shares allotted to Minnesota Mining & Mfg.
 Co. (3M) on preferential allottment basis.
 
 - During the current year the Company will be introducing a number
 of
 high quality, indigenised Industrial and Commercial tapes, the range
 of
 3M stethoscopes and overhead projectors for the business and
 education
 markets.
 
 - The Company is creating a technical cell to modify/adapt certain
 3M
 products to suit the local market.
 
 1994
 
 - The company has created a technical cell to modify/adapt certain
 3M
 products to suit the local market.
 
 1995
 
 - New products offerings in the Office Markets, Telecom, Healthcare
 products and consumer markets were made.  The Company entered into
 construction markets and proposed to expand its manufacturing
 activities in growth identified areas.
 
 - The Company has developed new products using Adhesive, Aerosol,
 Chemical and Abrasive Technology absorbed from 3M Company.  The
 Company's technical lab has been modifying and adapting certain 3M
 products to suit the local market requirements.
 
 1996
 
 - New products introduced during the year include privacy filters,
 secotchlite and LCD panels.
 
 - During the current year, new product offerings in the Office
 Markets,
 Telecom, Healthcare Products & Consumer Markets were made.  The
 Company
 has entered Construction Markets and is expecting to explore the
 possibilities of introducing additional new products during 1996-97
 in
 other areas.
 
 - The Company has introduced Optical Fibre in the Market using
 Technology absorbed from 3M Company.  The Company's technical lab
 has
 been modifying and adapting certain 3M products to suit the Local
 market requirements.
 
 1997
 
 - The company has already acquired 25 acre land near Pune for
 setting
 up a factory.
 
 - Birla-3M, the Indian joint venture between the -billion 3M Corp
 and the Yash Birla group, has launched its Scotchgard brand for the
 Bangalore silk market.
 
 - Birla 3M, the joint venture company promoted by the Yashovardhan
 Birla group and the Minnesota-based 3M, has registered a 30 per cent
 growth in sales turnover in the first five months of the current
 financial year.
 
 1998
 
 - Birla 3M now has a single unit in Bangalore and proposes to set up
 another plant in Pune.
 
 - Birla 3M has introduced only a small percentage of 3M's product
 portfolio.
 
 - Birla 3M has entered into a strategic alliance with Hewlett
 Packard,
 which would market the former Thermal Ink Jet (TIJ) imaging media
 along
 with HP DesignJet CP printers.
 
 - Birla 3M has launched its 3M sun control film (window film), 3M
 Scotchtint which meets the parameters specified in the central motor
 vehicle rule 1989.
 
 - The company was originally set up as a 40:40 joint venture between
 Yashovardhan's father Ashok Birla and 3M, and public held the rest.
 
 - Birla 3M, a 76 per cent subsidiary of 3M, Us, drawing strength
 from
 its parent in a limited measure, also has a wide product portfolio.
 
 - Birla 3M is setting up a 3M-Innovation Centre at the Electronics
 City
 of Bangalore.
 
 - Birla 3M has launched the Photodyne brand 800XGT, its fibre
 identifier, designed to locate any particular fibre the line or
 non-obtrusively identify live fibres to determine the amount of
 traffic
 present.
 
 - The company entered into a five year contract with FedEx. It has
 also
 signed interline agreements with Asiana Air and Alitalia Airlines.
 
 1999
 
 - Birla 3M was floated as a joint venture between the Birla Group
 and
 3M corporation, with the latter holding 51 per cent and the Birlas
 32.5
 per cent.
 
 - The Company has set up a fund and taken a policy with Life
 Insurance
 Corporation of India to meet its gratuity liability.
 
 2000
 
 - Arvind Mills Ltd has signed an exclusive agreement with Birla 3M
 Ltd
 to promote stain-resistant finishes for cotton fabrics.
 
 - The company has also entered into providing a wide range of
 consumer
 healthcare products which have recorded promising growth in the
 recent
 past.
 
 - ICRA has assigned an A1+ rating indicating highest safety to the
 Rs.
 30.25-crore (enhanced from Rs. 15.25 crores) short-term debt
 programme
 of Birla 3M Ltd.
 
 - Birla 3M is the subsidiary of Minnesota Mining & Manufacturing
 Company (3M) of the US.
 
 - The Company has introduced a new concept in etching with a range
 of
 special effect films.
 
 - Birla 3M, the Rs 150-crore diversified company, is mulling over
 its
 option to set up a manufacturing plant for its home care division in
 India.
 
 2001
 
 -Birla 3M launches a new improved version of its scrub pad, Scotch
 Brite.
 
 2002
 
 - Company name changed to 3M India Limited from Birla 3M Limited.
 
 2003
 
 -Birla US based 3M launched its latest car services which offers
 customers with 
 total solution and protection of their cars.
 
 2004
 
 -Birla 3m Ltd. has informed that at the AGM held on April 22, 2004,
 the members of the Company have approved the De-listing of shares
 from Ahmedabad, Bangalore, Calcutta and Delhi Stock Exchanges.
 
 - Inauguration of Manufacturing Facility for Corrosion Protection
 Products in Ahmedabad.
 2006
 
 - Acquisition of Mahindra Engineering & Chemical Products Limited.
 
 2007
 
 - Moved to a brand new Corporate Office at UB City in Bangalore.
 
 - Expansion of our Bangalore & Ahmedabad Plants.
 
 - Acquisition of Macroworx Media Pvt Ltd.
 
 2008
 - 3M completes 20 years of operation in India.
 
 - 3M India's 5th Manufacturing facility at Ranjangaon begins
 commercial operations.
 2009
 
 - Phase 2 of 3M India's Corrosion Protection Manufacturing Facility
 at Ahmedabad inaugurated. 
 2010
 
 - 3M India made its first foray into the retail space in India with
 the launch of the 3M Car Care Centre initiative.
 
 - Filed 13 patents & launched over 23 new product innovations for the
 India market.
 
 2011
 
 - 3M India's biggest Distribution Centre inaugurated at Electronics
 City, Bangalore to meet 2015 growth needs.
 
 - Expanded regional presence with 4 branch offices in Kolkata,
 Chennai, Pune & Gurgaon respectively.
 
 - Inaugurated two state-of-the-art Innovation Centres at Bangalore
 and Gurgaon to focus on local product innovations.
 
 - Filed 14 patents. 
 
 - Ranked 4th in the prestigious Indian Council of Market Research (
 ICMR) list of Most Innovative Brands in India.
 
 2012
 
 - Recognition of Company's In-House R&D Unit at Bangalore by
 Department of Scientific and Industrial Research (DSIR).
 
 
Source : Dion Global Solutions Limited
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