Historical Timeline

1980-1989
A Strong Global Presence

In 1984, 3M became the first foreign company to establish a wholly owned company in China. Plans for new administrative offices and laboratories in Austin, Texas, also were announced. 3M and Harris Corp. formed a joint venture for worldwide marketing, sales and service of copiers and facsimile machines in 1985. That year, 3M also became the 14th U.S. company to have its stock listed on Tokyo Stock Exchange.

1986 saw the retirement of Lewis W. Lehr and the appointment of Allen F. Jacobson as chairman of the board and CEO. 3M was ranked second on Fortune magazine’s list of the most-admired U.S. companies. Six major technology centers were established in Europe to better meet the special needs of 3M’s European customers. In 1987, M. J. Monteiro introduced his 50/50 objective — 50 percent of total revenue generated by international sales. Soon afterward, 3M announced a 2-for-1 stock split. In 1987, 3M also acquired Unitek Corp., a worldwide supplier of orthodontic products.

In 1988, 3M was a worldwide sponsor of the Olympic Games. The decade ended with global sales topping $10 billion.