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3M evaluating options for PFAS manufacturing in Belgium
Global Banking & Finance Review®
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(Reuters) – 3M said on Monday it was looking at options to further accelerate the stoppage of manufacturing of PFAS chemicals at its Zwijndrecht facility in Belgium and warned of a likely hit due to the continued idling of the plant.
(Reuters) – 3M said on Monday it was looking at options to further accelerate the stoppage of manufacturing of PFAS chemicals at its Zwijndrecht facility in Belgium and warned of a likely hit due to the continued idling of the plant.
PFAS, or per- and polyfluoroalkyl substances, dubbed “forever chemicals” because they do not easily break down, are used in a range of products from firefighting foam to non-stick cookware, and have been linked to cancer and hormonal dysfunction.
In August, 3M secured preliminary approval for a $10.3 billion deal resolving claims by U.S. public water providers over pollution by PFAS.
While the non-PFAS manufacturing continues at the Belgian facility, PFAS has been idled. The idling, and any further developments, could have a “significant adverse impact” on 3M Belgium’s normal operations and its businesses that depend on the facility, the company said on Monday.
However, the 3M said it was unable to predict the extent of any negative impact to operations.
3M has outlined plans to exit from all PFAS manufacturing by the end of 2025.
(Reporting by Priyamvada C in Bengaluru; Editing by Varun H K and Sriraj Kalluvila)
PFAS, or per- and polyfluoroalkyl substances, are a group of man-made chemicals used in various products for their water- and grease-resistant properties. They are often referred to as 'forever chemicals' due to their persistence in the environment.
A manufacturing facility is a location where goods are produced or assembled. These facilities can vary in size and complexity, and they often include machinery, equipment, and labor to create products.
Financial impact refers to the effect that an event or decision has on a company's financial performance. This can include changes in revenue, costs, or profitability resulting from operational changes or market conditions.
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