3M Creates New Renewable Energy Division
The 3M company recently announced plans to add to it’s already $200 million annual revenue from solar related items by launching a renewable energy division. The new division is also a step to decrease some of the pressure that the company is feeling from the 37 percent decrease in it’s 2008 fourth quarter profits.
The division will be divided into two separate units, the new Energy Generation unit will manufacture tapes, films, adhesives, sealants, an films. The second unit, Energy Management will be placing it’s focus on producing window film technology.
The head of the new division, Michael Roman, said that the company will work on products that are currently being sold, products adapted from already existing technologies as well as new products.