UPDATE 1-3M expects economy to grow in 2010-CFO

Thu Nov 5, 2009 9:36am EST
 
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* Expects rebound, but below 2008 levels

* Prioritizing revenue growth over boosting margins

BOSTON, Nov 5 (Reuters) - Diversified U.S. manufacturer 3M Co (MMM.N) expects the economy to rebound in 2010 but remain below 2008 levels, its chief financial officer said on Thursday.

"We do believe there's going to be some economic growth in the economy in 2010," said Patrick Campbell, CFO of the maker of products ranging from Post-It notes to optic films for flat-panel televisions. "We don't see it rebounding back to '08 levels."

Faced with a slow economy, the St. Paul, Minnesota-based company plans to prioritize growing revenue over boosting its profit margins, Campbell told an investor conference. (Reporting by Scott Malone, editing by Gerald E. McCormick)

 

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