3M posted strong sales in the first quarter with Latin America and Canada helped offsetting weakness in Europe and Asia. The company’s consumer and office sales increased 4.3%.
The diversified manufacturer said U.S. sales were up 6.3 percent and sales in America and Canada increased by 8.4 percent.
Chief financial officer David W. Meline said that Europe has “stabilised at least for the moment, so things are not getting worse sequentially, but they're also not getting better."
3M's top sector was industrial and transportation, where profits rose 16.2 percent to $600 million on strong sales to aerospace, automotive, and abrasives makers.