Selected excerpts from WSJ Article on 3M PFAS Liability claims (among others like earplugs)
Liability claims related to chemicals called perfluoroalkyl and polyfluoroalkyl substances, or PFAS, are still growing for 3M. Commonly called “forever chemicals” because they take a long time to break down in the environment, the chemicals have highly durable compounds that can resist heat and repel water, grease and stains.
About 20 years ago, 3M quit making two varieties of PFAS chemicals that are often linked to health concerns. Before 3M discontinued production of the two chemicals, it sold them to other companies for use in their products, potentially exposing 3M to litigation and cleanup expenses incurred by other companies, analysts have said.
While the company continued to make other varieties of PFAS chemicals that 3M has said are safe, the company said Dec. 20 that it would wind down its production of those chemicals by the end of 2025, citing increasing regulation and customers’ interest in alternatives.
3M estimated its current annual sales of PFAS chemicals at about $1.3 billion, or about 4% of total sales, according to analyst estimates. Nigel Coe, an analyst for Wolfe Research, said exiting the business would be relatively immaterial for 3M, but is a “reminder of long-tail PFAS remediation and compensation risks.”
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