3M Co. announced on Monday that it has suspended all manufacturing of per- and polyfluoroalkyl substances (PFAS), commonly known as “forever chemicals,” at its plant in Belgium. This move is part of the company’s larger plan to completely exit PFAS manufacturing by the end of 2025.
PFAS are a group of synthetic chemicals that are highly persistent in the environment and are believed to have serious health implications. The company’s decision comes after it reached a $10.3 billion settlement in June to address claims regarding the presence of forever chemicals in drinking water across the United States.
The Belgian unit of 3M has been collaborating with government agencies to address regulatory concerns related to its operations in Zwijndrecht, located in the province of Antwerp. As of now, all manufacturing processes involving PFAS have been halted at the Zwijndrecht facility. However, non-PFAS production processes continue as usual.
3M, known for its diverse range of industrial products and the ubiquitous Post-it Notes, acknowledged that this development could have a significant adverse impact on the operations of 3M Belgium and its business partners who rely on products and materials from the facility. The availability and quantity of these resources from other 3M facilities may be limited, potentially affecting their ability to fulfill supply obligations to customers.
Due to uncertainties surrounding the duration and scope of the manufacturing suspension, exact details regarding the potential negative impact on operations cannot be provided at this time. 3M Belgium is currently exploring options to restart PFAS manufacturing processes and accelerate the discontinuation of all PFAS production at the Zwijndrecht facility.
Year-to-date, 3M’s stock has declined by 19%, while the S&P 500 has gained 12.5%.
