In the next five years, China will become the world's largest R&D base outside of the United States, and “the next $700 million invested in China, the time required is much shorter than previously needed.†The technology research and development enterprise that has been developing in China for 26 years has invested a total of 700 million US dollars in China.
At present, 3M has established a research and development center in Shanghai and three technical centers in Beijing, Suzhou and Guangzhou. “Opening a new technology center in Chongqing will better serve the western market.†Liu said that in terms of R&D strength, the global map of China to 3M is becoming more and more important.
3M's R&D staff in China has increased almost fourfold in a few years, from a team of more than 100 people to about 500 people. In response, 3M has also been able to explore the most promising areas of the Chinese market.
"In China's unique high-voltage power platform, 3M's research and development results in China are the only ones in the world, and have applied for more than ten patents, and have successfully exported high-voltage power technology to the UK market in August this year." 3M believes The next step will be to strengthen research and development and investment in China, including nanotechnology, renewable energy (especially the photovoltaic industry), 3M will rapidly increase the full range of product lines in these areas.
The rapid and full involvement of new areas is the recent acquisition of Cogent Inc by 3M. (COGT.O), Attenti Inc. And Arizant Inc. The motivation for the three companies, the three acquisitions cumulatively cost $ 1.47 billion. "As long as the potential acquisition target is in our own strong field, with business complementarity and good prospects, we will actively consider the acquisition. We are pursuing the same standards in China." Liu Yuqi said. 3M China confirmed that it has just completed the acquisition of a domestic dental company.
In the extension of many different industrial fields, 3M's competitors include DuPont, Pentair, Clorox, Kimberly-Clark, Procter & Gamble, Tyco, Johnson & Johnson, Corning, Emerson, etc., from industrial transportation, consumer goods, security, Health care extends to a total of 45 technology platforms including displays, automation and communications equipment. “It is undeniable that 3M is very diversified. We invest 6% of our global turnover each year for R&D, which means about $1.3-1.5 billion in annual investment. The technological advantage is our core competitiveness.
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