Shares of 3M Co. (NYSE: MMM) were up slightly on Friday on the announcement of a new collaboration. The company and Nobel Media announced an international partnership, bringing together two respected organizations committed to the advancement of innovation, education and scientific research.
3M will collaborate with Nobel Media over several years to bring light to important global issues, like the future of scientific education and sustainability.
An important aspect of the partnership will be leveraging the shared values of both Nobel Media and 3M to develop new concepts and activities that expand the impact of each organization.
3M will be a sponsor of the Nobel Prize Series Dubai, which takes place March 20 to 21 and will feature a few Nobel Laureates.
Inge Thulin, chairman, president and CEO of 3M, commented:
We are honored to align 3M and everything we stand for with Nobel Media and the values embodied by the Nobel Prize. This partnership gives us the opportunity to jointly focus on educating, inspiring and engaging a broader audience on big issues that impact people’s lives around the world.
Mattias Fyrenius, CEO of Nobel Media, added:
Through science and research we can enlarge the world’s knowledge and actually make the world a better place. At Nobel Media, our passion is to share that view with the world and to inspire people to engage in areas close to our heart; science, research, education, peace-related topics and literature. We believe we share all those values with 3M and we are therefore proud to announce our new partnership with them today.
Shares of 3M were trading up 1.2% at $161.88, with a consensus analyst price target of $157.81 and a 52-week trading range of $134.00 to $167.70.