3M Company (MMM) expanded its product line with Scotch Recycled Corrugate Tape 3072, an industrial tape used in packaging corrugated boxes. For high productivity packing, the recycled corrugated tape can be applied with a 3M-Matic Case Sealer or with a hand-held tape dispenser for low volume packaging.
Tape 3072 is a box sealing tape, exclusively designed for recycled corrugated boxes. This tape has a strong support providing high quality, consistent performance and a secure and durable closure. The corrugated boxes typically have shorter and flatter fibers, making it difficult for manufacturers to seal it. This new corrugated tape by 3M would enable manufacturers to seal such boxes easily.
Environmental norms for user-friendly and less polluting materials are changing at a rapid pace and in order to keep up with such rules and regulations, manufacturers are making constant efforts to reduce cost and improve efficiency. This new tape outperforms other tapes available in the market making it more viable for users.
3M remains focused on inventing new products and maintaining its competitive edge globally. The rise in demand of such innovative 3M product services is likely to augment revenues. 3M expects an organic local-currency sales growth of 2%–5% in 2013.
Together with its subsidiaries, 3M operates as a diversified technology company with manufacturing operations across 70 countries worldwide. The company aims to deliver, innovative security solutions to businesses and governments worldwide, thus maintaining security of people and documents.
3M currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now are Honeywell International Inc (HON), Macquarie Infrastructure Company LLC (MIC) and ITT Corporation (ITT), each carrying a Zacks Rank #2 (Buy).
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