Through its new ventures business,
) recently invested in Chilean company Lixivia to increase
recuperation of copper sulfurate above standard levels through an
innovative engineering process. This new technology is likely to
be implemented in mining sites and exported to copper mines in
the U.S., Australia, Mexico, Peru and some countries in Africa.
3M aims to increase miners' productivity and recover more
copper sulfurate which proves beneficial for the miners. To
increase copper recuperation, this new technology consists of a
catalyzing process that uses ferric nitrate dissolved in the
lixiviation solutions as a reagent. The rise in demand for such
innovative 3M product services and its business relationship with
such companies is likely to augment its overall revenues.
3M intends to focus on the three key levers: portfolio
management, investment in innovation and business transformation,
going forward. Further, the company intends to continue investing
in capital expenditures and research and development to support
organic growth as it increases capital deployment to improve
3M, together with its subsidiaries, operates as a diversified
technology company with manufacturing operations spread over 70
countries. The company aims to deliver innovative security
solutions to businesses and governments worldwide, thus
maintaining the security of people and documents.
3M currently has a Zacks Rank #3 (Hold). Other stocks that
look promising and are worth a look include
Carlisle Companies Inc.
Hutchison Whampoa Ltd.
Tyco International Ltd.
), each carrying a Zacks Rank #2 (Buy).
CARLISLE COS IN (CSL): Free Stock Analysis
HUTCHINSON WHAM (HUWHY): Get Free Report
3M CO (MMM): Free Stock Analysis Report
TYCO INTL LTD (TYC): Free Stock Analysis
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