Diversified manufacturer 3M, St. Paul, MN, reported second-quarter sales were $5.7 billion, a decline of 15.1% from the same period a year ago. Profit declined 17.1% to $783 million.
Local-currency sales including acquisitions decreased 9.4%, currency translation effects reduced sales by 5.5% and divestitures reduced sales by 0.2%.
Year-to-date, sales were $10.8 billion, down 18.1%. Profit decreased 32.7% to $1.3 billion.
Industrial and Transportation
Second-quarter sales for the Industrial and Transportation segment were $1.7 billion, down 15.3% year-on-year in local currency. Acquisitions contributed a 3.3% benefit; currency impacts reduced sales by 5.4%.
Sales improved by 9.2% when compared to first quarter of 2009.
Display and Graphics
Display and …
