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History of 3M India Ltd.

1987

- The Comp. was originally incorporated as a private limited under the name & style of Nav Electromed Pvt. limited on 4th June. The name was later changed to Birla 3M Pvt. limited in February, 1988. Subsequently the Comp. was converted into a public limited Comp. on 27th April 1989.

- The Comp. was formed as a joint venture between Minnesota Mining and manufacturing Comp. [3Ms] of USA & Scinitar investment and Trading Co. Pvt. Ltd.

- The Comp. is manufacturing telecommunication connectors & gearing itself to manufacture speciality pressure sensitive coated tapes for medical/surgical & packaging applications & speciality chemicals and Keonics-Electronics City near Bangalore.

1988

- The Comp. entered into a technical agreement with 3M on 17th March for transfer & imparting of 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:

- [is] 32,00,000 shares to foreign collaboration Minnesota to Mining & Mfg. to USA;

- [iis] 19,20,000 shares to Scimitar Investment & Trading Co. Pvt. Ltd.;

- [iiis] 12,79,930 shares to Shares on Investment and Trading Co. Pvt. limited Of the remaining, 3,50,000 shares reserved for allotment on preferential basis to employees of promoters companies [only 1,45,900 shares taken ups]. 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 & 12,40,000 shares to publics].

1993

- 20,65,000 No. of equity shares allotted to Minnesota Mining and Mfg. Co. [3Ms] on preferential allottment basis.

- During the current year the Comp. will be introducing a number of high quality, indigenised Industrial & Commercial tapes, the range of 3M stethoscopes & overhead projectors for business & education markets.

- The Comp. is creating a technical cell to modify/adapt certain 3M products to suit the local market.

1994

- The Comp. 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 & consumer markets were made. The Comp. entered into construction markets & proposed to expand its manufacturing activities in growth identified areas.

- The Comp. has developed new products using Adhesive, Aerosol, Chemical & Abrasive Technology absorbed from 3M Company. The Company technical lab has been modifying & adapting certain 3M products to suit the local market requirements.

1996

- New products introduced during the year include privacy filters, secotchlite & LCD panels.

- During the current year, new product offerings in the Office Markets, Telecom, Healthcare Products and Consumer Markets were made. The Company has entered Construction Markets & is expecting to explore the possibilities of introducing additional new products during 1996-97 in other areas.

- The Comp. has introduced Optical Fibre in the Market using Technology absorbed from 3M Company. The Company technical lab has been modifying & adapting certain 3M products to suit the Local market requirements.

1997

- The Comp. has already acquired 25 acre land near Pune for setting up a factory.

- Birla-3M, the Indian joint venture between the $14-billion 3M Corp and the Yash Birla group, has launched its Scotchgard brand for the Bangalore silk market.

- Birla 3M, the joint venture Comp. promoted by Yashovardhan Birla group & the Minnesota-based 3M, has registered a 30 per cent growth in sales turnover in the first five months of current financial year.

1998

- Birla 3M now has a single unit in Bangalore & proposes to set up another plant in Pune.

- Birla 3M has introduced only a small percentage of 3M product portfolio.

- Birla 3M has entered into a strategic alliance with Hewlett Packard, which would market the former Thermal Ink Jet [TIJs] imaging media along with HP DesignJet CP printers.

- Birla 3M has launched its 3M sun control film [window films], 3M Scotchtint which meets the parameters specified in the central motor vehicle rule 1989.

- The Comp. was originally set up as a 40:40 joint venture between Yashovardhan father Ashok Birla & 3M, & 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 Comp. entered into a five year contract with FedEx. It has also signed interline agreements with Asiana Air & 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 & the Birlas 32.5 per cent.

- The Comp. has set up a fund & 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 Comp. 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 croress] short-term debt programme of Birla 3M Ltd.

- Birla 3M is the subsidiary of Minnesota Mining and Manufacturing Company [3Ms] of US.

- The Comp. 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.

2003

-Birla US based 3M launched its latest car services which offers customers with total solution & protection of their cars.

2004

-Birla 3m limited has informed that at the AGM held on April 22, 2004, the members of Comp. have approved the De-listing of shares from Ahmedabad, Bangalore, Calcutta & Delhi Stock Exchanges.