I missed the announcement as am tied up with a new consultancy...

I missed the announcement as am tied up with a new consultancy but my initial reading of it is very positive.
In fact it looks like it's very significant as what was not in the announcement is the potential two way STI benefits in partnering 3M internationally.

3M is a $23 billion diversified technology company and one of 30 companies that make up the Dow Jones Industrial Average.
This point (fact) should not be underestimated!

The announcement on the 5th Jan 11 has largely gone unnoticed on the asx possibly because there is little knowledge about 3M from an Australian investors perspective.

I am heading out to do a few laps of the pool in a minute and will post further about my thoughts about the 3M and STI partnership but my initial thoughts are that it's as a result of STI's Mr Covey having international contacts ( and respect for him) of the highest calibre.
Here's the initial info Leonardis...

"3M is fundamentally a science-based company. We produce thousands of imaginative products, and we're a leader in scores of markets - from health care and highway safety to office products and abrasives and adhesives. Our success begins with our ability to apply our technologies - often in combination - to an endless array of real-world customer needs. Of course, all of this is made possible by the people of 3M and their singular commitment to make life easier and better for people around the world. We leverage these competencies to create innovative solutions for our customers and to also provide investors with attractive long-term returns."

I hope to post further comments later tonight but here's one of the links to the 3M site...

http://solutions.3m.com.au/wps/portal/3M/en_AU/Products/ProdServ/Dir/HealthCare/