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Go To | Public Relations | Investor Relations |
Imation Corp. is a $2.2 billion global leader in imaging and data technology. With a presence in over 60 countries, Imation combines products, systems and service to create customer-based solutions for the handling, storage, transmission and use of information. Launched as a new company on July 1, 1996 from the spin-off from 3M, Imation is headquartered in Oakdale, Minnesota and has approximately 9,400 employees worldwide. Led by Chairman and Chief Executive Officer William T. (Bill) Monahan, the company has a global technology presence through its 17 manufacturing and research facilities. With approximately 50 percent of its sales outside of the United States, Imation competes in a $20 billion global market, and its 1995 sales would have placed the company on the Fortune 500 list of the largest manufacturing firms in the U.S. Imation common stock is traded on the New York and Chicago Stock Exchanges under the trading symbol "IMN." Strong Heritage of Excellence
Imation has built on its 3M heritage -- a strong global brand, a well established tradition of innovation, reliability, solid leadership, financial strength and a commitment to quality. In combination with its own characteristics as an aggressive, entrepreneurial and customer-driven company, quickly able to adjust to the marketplace and customers' needs, Imation is creating a unique company specifically organized for the imaging and information industry. The creation of the name Imation and its corporate logo also reflect the company's key philosophies. "To invent a name that reflects who and what we are as a company, we took our core businesses -- information and imaging -- and combined them with our central values of innovation and imagination to create Imation," said Monahan. Imation's logo -- a hand waiving a wand that trails bits of information from its tip -- demonstrates the company's focus on creating imaginative customer solutions. The logo, referred to as "The Hand of Imagination," emphasizes the creative touch that sets Imation apart today and into the future. To support its transition to an independent company, Imation's logo and product packaging temporarily will carry the phrase "Borne of 3M Innovation", and will carry the 3M logo for a period of time. "We've had a once in a lifetime opportunity to take a group of market-leading products, innovative technologies and top-notch people and create a new, streamlined customer solution enterprise. We have retained key qualities from our 3M legacy -- innovation, global understanding, quality products, ethical values -- and created a new company that's fast, decisive, focused and proactive," said Monahan. Global Focus On Customer Solutions Imation's mission is "to be the best global source for imaging and information solutions tailored to customer needs." Through a vision based on customer focus, technological innovation, and organizational flexibility, Imation is strategically positioned for continued growth in the U.S., Europe, Asia and Latin America. In fact, the company is already serving four significant growth markets -- China, India, Indonesia and Brazil. Imation's core businesses are: Data Storage Worldwide leading supplier of branded removable data storage media for digital applications; Leading innovator for high capacity in data storage diskettes and tape cartridges. Medical Imaging A world leading supplier of medical imaging systems used to produce diagnostic images from magnetic resonance, computed tomography, nuclear medicine, ultrasound and other electronic imaging systems, and the industry leader in dry film technology; Full line of diagnostic x-ray film, film processors and imaging systems. Photo Products World's leading supplier of private label 35mm color film, with a commanding market share. Printing & Publishing A market leader in workflow color proofing systems; Full-line supplier of conventional graphic arts film, plates and supplies. Customer Support Global field service team provides hardware support and training; Document imaging services supports engineering and office document management needs. "The digital revolution has arrived, and our industries are exploding with technological advancements and opportunities," according to CEO Bill Monahan. "With increased rates of data transmission, a growing need for storing digital content, increased use of color in information applications and worldwide acceleration of information processing technology, Imation could not be better positioned to realize both short- and long-term profitable growth." By capitalizing on its new product platforms and through strategic partnerships. Imation's product offering is positioned to capitalize on the evolution of technology synergies across its business units and ensure long-term growth. A key corporate initiative is the development of industry alliances with software, hardware, networking and service partners to provide customers with high-value or value-added solutions. The company's four key new product platforms, introduced since late 1995, are: Travan™ Data Cartridges Imation has partnered with leading tape drive manufacturers, including Hewlett-Packard, Seagate, Exabyte and Iomega to support its Travan tape storage platform, which is emerging as the new industry standard for home and business. Imation manufactures Travan minicartridges in capacities from 400 MB to 4 GB, with a new 10 GB product expected within the next year. LS-120™ Diskettes With storage capacity of 120 MB, the LS-120 diskette provides more than 80 times the capacity of standard 1.44 MB 3.5-inch diskettes. A key advantage of LS-120 drive technology is its read-write compatibility with the installed base of more than 10 billion standard diskettes. The LS-120 program is intended to establish this technology as the industry standard for high-capacity 3.5" diskette storage. Imation's co-development and marketing partners include Compaq, Matsushita-Kotobuki Electronics (MKE), and OR Technology. The LS-120 diskette drive is an internal standard feature in several models of Compaq's DeskPro™ computers. Several other companies have also joined as licensees providing LS-120 technology to the marketplace. DryView™ Laser Imager As a leader in diagnostic medical imaging systems, Imation introduced the DryView laser imagers which offer significant benefits to the health care industry through a unique film development process that eliminates wet (chemical) processing. These benefits include cost savings, productivity gains and environmental benefits. In a little over a year since their introduction, DryView imagers have established themselves as the choice among radiologists, with over 1,800 units shipped. Imation continues it development of integrated system solutions, partnering with Hewlett-Packard and Cemax-Icon. Rainbow™ Color Proofing System Imation has an established reputation as an industry standard for conventional color proofing systems with its Matchprint™ proofing technology. The company is extending that reputation with the introduction of Rainbow digital proofing systems, which combine Imation's technology with Adobe's PostScript™ RIP and Mitsubishi Electric's print engine. These award-winning systems are gaining acceptance as digital color proofers of choice among graphic arts professionals by offering superior color fidelity, output flexibility and increased productivity for reliable proofing without film. While many of 3M's proven business principles have been carried over to the new company, Imation is making significant changes to its business operations and organizational structure in order to facilitate fast-paced decision making. This effort includes re-engineering the supply chain to significantly reduce cycle time, the time required to convert raw materials to finished, sold products -- by the year 2000. "Our primary objective is to change our company from purely a product developer to a customer solution enterprise. We are building our company's structure around a singular purpose: creating value -- for our customers, shareholders and employees," Monahan said. Imation has assembled an experienced board of directors, with solid experience in building and managing global businesses in the fast paced technology arena. The company has also reduced the layers of management, and has built a motivated leadership team by linking compensation directly to the company's financial performance. Imation's corporate goals are aggressive: to improve its economic profit by $150 million by the end of 1998 and achieve an annual earnings per share growth rate of 15 percent. Imation's board of directors are:
Headquarters
1 Imation Place
November 14, 1995: 3M announced plans to spin off its data storage and imaging business as an independent company November 17, 1995: William T. Monahan named Chief Executive Officer of Imation December 20, 1995: Management team announced April 16, 1996: Imation unveiled as name of the new company July 1, 1996: Imation is launched as a fully independent company
Copyright 1996 Imation. All rights reserved. 
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