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TRADE ACCORD TO GENERATE STRONG GROWTH

 CANCUN, Mexico, Feb. 11 /PRNewswire/ -- The North American Free Trade Agreement (NAFTA) will help generate exceptional economic growth among Canada, Mexico and the United States, a 3M Company (NYSE: MMM) executive today told the Latin America 2000 Conference here.
 Allan K. Petersen, 3M's area vice president, Latin America and Africa, said that "by solidifying gains already made in tariff reduction, and moving on from there, NAFTA sets the stage for an economic expansion unprecedented in the history of our three countries." It also involves 3M managers in Mexico in global business planning for U.S.-based product divisions.
 Petersen noted that 3M Mexico "already is riding the wave" of economic expansion. "Our sales (in Mexico) have tripled in four years, and unit volume rose nearly 50 percent in 1992, even without NAFTA," he said.
 "Four years ago, we served Mexico City, Guadalajara and Monterrey, and that was about it," Petersen said. Today, the company has branches in 14 cities and has added 200 jobs in sales and marketing to support rapid growth. In addition, 3M has created some 300 manufacturing jobs in the United States to support growth in Mexico.
 3M also is expanding its manufacturing in Mexico, with an advanced- technology tape manufacturing plant in San Luis Potosi and a major upgrade to increase productivity of an existing plant in Mexico City.
 "I expect more and higher quality growth when the North American market becomes a reality in 1994," Petersen said. "As Mexico looks north to new opportunities in the United States and Canada, it will look south as well to build businesses throughout the rest of Latin America and the rest of the world, for that matter. I expect 3M's sales in Latin America to quadruple by the year 2000. Much of this growth will occur in Mexico."
 Petersen said that 3M Mexico "was one of our first companies outside of the United States." It was established in 1951, along with 3M companies in Argentina and Brazil. In the 1960s and 1970s, 3M formed companies in Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Jamaica, Panama, Peru, Puerto Rico, Trinidad & Tobago, Uruguay and Venezuela. It also has a sales office in Bolivia.
 3M had worldwide sales of $13.88 billion in 1992. The company's Latin American operations account for 10 percent of all sales outside the United States.
 The Latin America 2000 conference opened in Cancun yesterday and concludes tomorrow. It's a forum for executives with Latin American responsibilities.
 -0- 2/9/93 R
 /CONTACT: Mari Ludwig, Public Relations, Latin America and Africa for 3M Company, 612-733-6016 or Fax: 612-736-2133/
 (MMM)


CO: Minnesota Mining & Manufacturing ST: Minnesota IN: SU:

AL -- MN004 -- 5649 02/11/93 11:20 EST
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Date:Feb 11, 1993
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