3M Launches 2 New Factories in China

3M Company (NYSE: MMM) said Tuesday its new medical equipment and special material factory in China have started production. The ¥300 million  ($1 = ¥6.83) medical equipment factory located in Shanghai's Zhangjiang Hi-tech Zone was built on 50,000 m2 and covers applications of dentistry, orthodontics, epidemiology, and dermatology; the ¥400 million special material plant located in Shanghai's Jinshan district spans 175,000 m2 and will run 16 assembly lines manufacturing healthcare, automotive and construction products. After 25 years of doing business locally, 3M currently boasts seven production bases in China, including these two.