3M Launches New Cover Tape

Zacks Equity Research

Thu, Mar 28, 2013, 10:58 AM

3M Company (MMM) recently launched the new 3M brand Static Dissipative Heat Activated Adhesive Cover Tape 2679 for the Electric Components market. With this product, manufacturers now have a new option of cover tapes used for packaging electronic components in tape and reel

The new product is a transparent, two-sided static dissipative, polyester film tape with heat activated adhesive. The 3M Cover Tape 2679 is being used to seal electrical and electronic components into 3M polycarbonate carrier tapes for transport or storage. The heat activated cover tape prevents the components from being damaged, offers smoother peels and improves transparency for visual inspection. The transparency enables the manufacturers to inspect whether the components are placed in a proper manner, thus preventing rough handling and reducing damage to components sensitive to electro-static discharge (ESD).

3M remains focused on inventing new products and maintaining its competitive advantage worldwide. The rise in demand for such innovative 3M product services is likely to augment its revenues. The company expects an organic local currency sales growth of 2%-5% in 2013. We also remain encouraged by the continuous inflow of new products from the company and expect it to continue its bullish run in the coming quarters.

3M together with its subsidiaries operates as a diversified technology company with manufacturing operations spread over 70 countries worldwide. It has more than 35 business units organized into six segments: Consumer and Office, Display and Graphics, Electro and Communications, Healthcare, Industrial and Transportation, Safety, Security and Protection Services.

3M faces tough competition from other players in the industry such as Crane Co (CR) and Textron Inc (TXT). 3M currently has a Zacks Rank #3 (Hold). One of its competitors, Macquarie Infrastructure Company LLC (MIC) carries a Zacks Rank #2 (Buy).

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