{"id":22182,"date":"2023-09-26T01:58:12","date_gmt":"2023-09-26T01:58:12","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/3m-idles-all-manufacturing-of-forever-chemicals-at-belgian-plant\/"},"modified":"2023-09-26T01:58:13","modified_gmt":"2023-09-26T01:58:13","slug":"3m-idles-all-manufacturing-of-forever-chemicals-at-belgian-plant","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=22182","title":{"rendered":"3M idles all manufacturing of forever chemicals at Belgian plant"},"content":{"rendered":"
\n

3M Co. said Monday it has idled all manufacturing of PFAS, also known as \u201cforever chemicals,\u201d at a plant in Belgium as it works to fully exit PFAS manufacturing by the end of 2025. <\/p>\n

PFAS, or per- and polyfluoroalkyl substances, are a group of synthetic chemicals that do not easily degrade in the environment and are widely\u00a0suspected to contribute to serious health effects.<\/p>\n

\n

3M said in June it would pay $10.3 billion to settle claims it was responsible for forever chemicals in drinking water in the U.S. <\/p>\n

Read:<\/strong>\u00a03M will stop making harmful PFAS found in hundreds of household items\u2014what are \u2018forever chemicals\u2019?<\/p>\n

The company said Monday that its Belgian unit has been working through regulatory matters with government agencies in connection with operations at its plant in Zwijndrecht, which is located in the province of Antwerp. <\/p>\n

\u201cWhile 3M Belgium continues to engage with the authorities, it has, for now, idled all PFAS manufacturing processes at its Zwijndrecht facility,\u201d the company said in a regulatory filing. \u201cOther manufacturing processes for non-PFAS products continue in Zwijndrecht at this time.\u201d <\/p>\n

3M
\n MMM,
\n -2.32%<\/bg-quote>,<\/span>
\n which makes a range of industrial products as well as consumer products such as Post-it Notes, acknowledged that the development \u201ccould have a significant adverse impact on 3M Belgium\u2019s normal operations and the company\u2019s businesses that receive products and other materials from the facility, some of which may not be available or in similar quantities from other 3M facilities, which could in turn impact these businesses\u2019 ability to fulfill supply obligations to their customers.\u201d <\/p>\n

Given the uncertainties about the duration and extent of the idling of manufacturing, the company said it is unable to offer exact details of the potential negative impact on its operations. <\/p>\n

\u201c3M Belgium is evaluating whether there are options to restart the idled PFAS manufacturing processes and other options to further accelerate the discontinuance of all PFAS manufacturing at its Zwijndrecht facility,\u201d it said in the filing. <\/p>\n

The stock has fallen 19% in the year to date, while the S&P 500
\n SPX
\n has gained 12.5%. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

3M Co. said Monday it has idled all manufacturing of PFAS, also known as \u201cforever chemicals,\u201d at a plant in Belgium as it works to fully exit PFAS manufacturing by the end of 2025. PFAS, or per- and polyfluoroalkyl substances, are a group of synthetic chemicals that do not easily degrade in the environment and<\/p>\n","protected":false},"author":1,"featured_media":22183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-22182","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\n3M idles all manufacturing of forever chemicals at Belgian plant | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"3M Co. said Monday it has idled all manufacturing of PFAS, also known as \u201cforever chemicals,\u201d at a plant in Belgium as it works to fully exit PFAS\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/microloannexus.com\/?p=22182\" \/>\n<meta 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