3M Invests $146M To Expand Biopharma Filtration Technology

3M Co MMM plans to invest $146 million to expand its capabilities to support biotech manufacturing.
The investment will include facility and equipment improvements and the addition of 60 full-time positions in 3M manufacturing facilities in Europe.
The new investment is expected to boost 3M's development and delivery of vital filtration equipment designed for bioprocessing, biological and small molecule pharmaceutical manufacturing applications.
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3M’s Zeta Plus depth filtration technology, in cartridge systems and sheets, play an important role in clarifying cell-derived protein therapeutic products worldwide.
"Our technologies improve the lives of people all over the world, and we are helping biotech customers do more, faster, to advance their specialized medicines,” said Robert Befidi, President, 3M Separation and Purification Sciences Division.
Price Action: MMM shares are trading lower by 2.6% at $93.55 on the last check Wednesday.