According to Harry A Hammerly, vice-president of Minnesota Mining & Manufacturing Co, the company has so far invested $12m in Russia and hopes to obtain a return on its investment within two to three years – at present, 3M has 10 dealers in Russia: the wholly-owned 3M Russia and the 3M-Lentelefonstroj joint venture enterprise were established in 1991 – 3M-Lentelefonstroj is involved in manufacturing parts and devices for telephone networks.
