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Dubai: Minnesota Mining and Manufacturing Company (3M) will expand into three new industries, bringing a variety of products to the market, officials said.
One of the new industries the company is focusing on is that of alternative energy. "We started research four years ago and have made significant progress in terms of products," Irfan Malek, managing director, Middle East and Africa, told Gulf News.
He added that the company is "very strong" on adhesives, films for solar panels and optical technology for solar lens.
"We are significantly investing in this field but the products are still in the development stage. In 12 months or so, we will be ready to start offering these products in this region," he said, adding that from the GCC governments' point of view, alternative energy is becoming important.
The second industry the company is venturing into is that of track and trace. This will involve tracking of assets. An example is the tracking of equipment and even people at construction sites.
This would have an application especially for the mining industry as well as hospitals for tracking patient information and operating tools, officials said.
"We are looking to invest significantly in this industry because that's where the future is," Malek said.
Another platform where money will be injected is in the water industry.
Malek said the concentration will be on drinking water, filtration and water involved in the oil and gas industry.
"We think water will be a significant market for the future," he added.
The company is also working with UAE government agencies on a chemical used in firefighting. The product will be in liquid form which will convert to gas when sprayed. With a five-day sustainability period, the product will have zero effect on electronics, furniture or the environment, officials said.
Performance
3M's worldwide sales in 2007 amounted to $24.4 billion. Sixty per cent of the company's total sales are international and the Middle East plays a major role, according to officials.
The company has enjoyed regional growth at a rate of 25 per cent annually and officials are "certain" they can increase that figure.
Officials said the company has seen high performance in the sectors of healthcare, office supplies, commercial graphics, electrical and telecom. "Overall the healthcare sector has seen the most increase," Malek said.
The company is focusing on developing technical services centres for the region, officials said.
On the anvil
Projector in a phone
A projector within a mobile phone is one of the latest projects the company is working on with a mobile manufacturer in efforts to converge further technologies, according to company officials.
Malek said technology will be available by the end of this year in the region's market but the name of the partner was kept confidential.
- N.S.
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