3M will stop producing PFAS chemicals by 2025











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(Reuters) – U.S. industry group 3M said on Tuesday it will stop making PFAS chemicals, which are used in everything from cellphones to semiconductors and are linked to diseases ranging from heart problems to brain cancer. by 2025, resulting in a charge of $1.3 billion to $2.3 billion.

Per- and polyfluoroalkyl substances (PFAS) are called “eternal chemicals” because they do not break down quickly. In recent years, they have been found in dangerous concentrations in drinking water, soil and food across the country.

3M’s current annual net sales for PFAS are approximately $1.3 billion (€1.23 billion), with an Ebitda (earnings before interest, tax, depreciation and amortization) margin of about 16%.

The company expects to record total pretax charges of approximately $1.3 billion to $2.3 billion during its PFAS exit.

In the fourth quarter, 3M expects an estimated pretax charge of between $0.7 billion and $1 billion, which is essentially non-cash and related to asset impairments.

(Reporting by Aishwarya Nair in Bangalore; with contribution by Simon Jessop in London; French version Jean Rosset; editing by Kate Entringer)










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