3M hails ‘outstanding’ performance in Q3 2010

3M's chairman, president and chief executive officer George Buckley has hailed the company's third quarter fiscal performance as "outstanding" after it posted record-breaking three-month results.

The technology group generated $6.9 billion (4.3 billion pounds), an 11 percent year-on-year increase, while operating income established a new third-quarter benchmark for 3M at $1.5 billion.

Its healthcare division was one of several to experience growth, with sales of health information systems, drug delivery, oral care and skincare products all making advances.

The firm was also able to consolidate its position in the sector via the acquisition of the patient warming specialist firm Arizant, which was completed last month.

Mr Buckley hailed the ability of the company to drive growth throughout its wide-ranging portfolio.

He added: "New products are fuelling market share gains and filling adjacent spaces everywhere, but particularly in emerging markets, the fastest-growing area of our company."