3M, fundamentally a science-based company, which produces thousands of imaginative products, and leads in scores of markets – from health care and highway safety to office products and abrasives and adhesives, elaborates on its presence in Kuwait, its innovations and future plans.
Speaking with them about their operations in Kuwait and the wider region, given that 3M has recently directed its identity towards '3M Science-Applied to Life', General Manager – Qatar and Kuwait, at 3M Gulf, Martin Parsons expands on the company's success –beginning with their ability to apply technologies, often in combination, to an endless array of real-world customer needs.
How strong is 3M’s presence in Kuwait? What products do you offer to the market?
3M has been operating in Kuwait for almost a decade, as part of 3M Gulf’s operations. Through these years, we have built an extensive presence by focusing on the primary market segments, which has resulted in an increase in end-user focus and the creation of value for our customers from multiple industries.
3M manufactures over 100,000 products globally. Our focus on a particular country is based solely on the various opportunities that this country can offer us. The primary market segments for us in Kuwait are Consumer, Healthcare, as well as Oil & Gas, and our analysis shows that opportunities are also arising in Infrastructure. Our aim is to continue bringing advanced technologies and solutions to every market that we cater to.
What are the main divisions in which you operate in Kuwait?
The Kuwaiti market is one of the most promising markets in the GCC region. The country is still heavily dependent on the oil and gas industry which accounts for about 50 percent of its GDP, and about 95 percent of its export revenues.
However, we truly believe that Kuwait is heading towards more economic diversification which will offer plenty of opportunities in other vital sectors of the economy. With these accelerated investments, we see a huge potential for many of our products and solutions and we will be addressing the same through a more focused approach in line with both public and private sectors’ plans.
How strong is 3M’s presence in the oil & gas sector?
3M supplies thousands of innovative products to the global oil and gas industry and its applications. From everyday essentials to advanced materials, 3M technologies offer a wealth of ingenious solutions to many of today's toughest challenges.
3M Oil & Gas products are divided into three categories – Upstream, Midstream, and Downstream. Upstream segment helps improve drilling efficiency, maintain pipeline integrity and protect valuable equipment and personnel. 3M Midstream solutions protect pipelines against corrosion, manage underground assets and ensure reliable product flow – even under extreme conditions. 3M Downstream solutions are designed for refining and storage applications to promoting brand image. Our technologies help improve productivity, promote safety, and, most importantly, keep businesses up and running.
In recognition of the significance of the oil and gas industry to the economies of the GCC countries, we have expanded our presence in this market segment and opened a full-fledged Mining, Oil & Gas unit last September. Our aim is to accelerate our penetration and expansion in the region by leveraging the enormous opportunities that it offers.
3M has always been associated with innovation. Amid global economic challenges, how are you planning to protect your identity?
At 3M, we believe every problem has a solution. Thus, we have launched a new corporate brand platform – 3M Science. Applied to Life - that emphasizes how 3M’s science impacts the world around us. The new brand platform underscores the company’s business strategy through a creative articulation of 3M’s span across sectors.
In fact, science and collaboration are at the heart of everything we create that makes life better. Investing in the 3M brand with this platform is the next step to advance 3M’s business strategy, evolve 3M’s customer experience and leverage the strength of the brand across each of our businesses to drive additional growth worldwide. Our unique culture and history and the way we do what we do, make it possible for us to own “3M Science.
What’s next for 3M in Kuwait?
3M is always looking to provide customers and consumers with the best. We will continue to evaluate opportunities for growth in Kuwait, and provide innovative solutions to different segments of the market. With Kuwait being a primary focus for the Gulf region, we do see an opportunity for further penetration in some of the key segments, along with our current market segments - Consumer, Healthcare and Oil & Gas industries.