3M Expects To Record Charge In Q1 Related To Remediation At Zwijndrecht, Belgium

3M Co MMM invests an additional €150 million to proactively advance remedial actions for the Zwijndrecht community to address legacy manufacturing and disposal of per- and polyfluoroalkyl substances (PFAS).
The investment adds to the actions taken by the company to reduce PFAS discharges and emissions, continue running non-PFAS related manufacturing, and re-start previously idled PFAS-related manufacturing processes.
"These investments help enhance our environmental stewardship, and achieve longer-term stability for 3M's operations in Belgium," commented 3M chairman and CEO Mike Roman.
3M expects to record a charge in Q1 of 2022 associated with the estimate of this remediation phase.
3M has engineered and activated a wastewater treatment system to reduce PFAS discharges from its site in Zwijndrecht.
Price Action: MMM shares are trading lower by 0.38% at $151.51 on the last check Wednesday.