3m
New York (AFP) - Manufacturing giant 3M said Tuesday it has reached a $6 billion settlement over claims by US military veterans that its earplugs were faulty and failed to protect their hearing. The company is hoping the agreement draws a line under the long-running legal saga, which has seen the company hit by thousands of lawsuits by veterans complaining of hearing loss. The mediated agreement will see 3M "contribute a total amount of $6.0 billion between 2023 and 2029, which is structured under the agreement to include $5.0 billion in cash and $1.0 billion in 3M common stock," 3M said in a...
AFP
New York (AFP) - US industrial giant 3M announced Tuesday it will phase out production of so-called "forever chemical" PFAS in light of tightening regulation connected to harmful health effects from their use. 3M will exit polyfluoroalkyl substances (PFAS) manufacturing by the end of 2025 and discontinue use across its product portfolio under the same timeframe, moves that are expected to result in pre-tax costs of $1.3 to $2.3 billion. Known for the lengthy amount of time required before they break down and widely employed in Teflon and other goods, PFAS are man-made chemicals produced since ...
AFP
Washington (AFP) - The US group 3M, which among other things manufactures anti-Covid protective face masks, said Tuesday it will pay $99 million to settle complaints related to health and the environment. "3M has reached a collaborative agreement to resolve ongoing litigation and negotiations related to per- and polyfluoroalkyl substances (PFAS) near 3M's Decatur, Alabama facility," the company said in a statement. Lawsuits had been filed against 3M in three US states - Alabama, Illinois and Minnesota - as well as in Germany and Belgium, charging that its products contain potentially harmful ...
AFP
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