3M to record a charge associated with PFAS remediation

3M Co. announced Wednesday an additional investment of EUR150 million ($166.9 million) to advance remedial actions for the Zwijndrecht, Belgium community to address legacy manufacturing and disposal of per- and polyfluoroalkyl substances (PFAS). The consumer, industrial and health care products company said it expects to record a first-quarter charge associated with remediation. "These investments help enhance our environmental stewardship, and achieve longer-term stability for 3M's operations in Belgium," said Chief Executive Mike Roman. "We continue to advance and operate non-PFAS related manufacturing there, while working to get more PFAS-enabled manufacturing processes up and running in compliance with local safety measures." 3M's stock, which slipped 0.2% in premarket trading, has dropped 14.4% year to date through Tuesday, while the Dow Jones Industrial Average has slipped 2.9%.

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