3M's Imation progeny opens for business

July 31, 1996

3M spinoff Imation officially began operations this month as anindependent company. The Oakdale, MN, firm includes the businessthat was formerly 3M's medical imaging systems division (SCAN4/24/96). Imation's business units generated $2.3 billion in

3M spinoff Imation officially began operations this month as an

independent company. The Oakdale, MN, firm includes the business

that was formerly 3M's medical imaging systems division (SCAN

4/24/96). Imation's business units generated $2.3 billion in revenues

last year. Imation stock began trading on the New York Stock Exchange

July 16, with its price hovering at about $23 a share in mid-July.