The conglomerate 3M, known for its “Post-It” notes, has to pay a fine of 12.5 billion dollars in the United States. It is about so-called eternity chemicals that got into the drinking water.
The case of polluted drinking water caused by so-called perpetual chemicals draws wide circles in the USA. After the chemical companies DuPont, Chemours and Corteva had already agreed to pay a combined fine of 1.2 billion dollars, the consumer goods and medical technology manufacturer 3M also had to pay a large sum of up to 12.5 billion dollars.
16 locations in Germany
The US conglomerate is best known for its “Post-It” notes. 3M also produces building materials, electrical accessories, office supplies, personal protective equipment such as earplugs or supplies for laboratories and dentistry. According to its website, the company has 16 locations in Germany with around 6,500 employees. The head office in this country is in Neuss.
The legal dispute in the USA is about certain so-called per- and polyfluorinated alkyl substances (PFAS) produced by 3M, which are water, grease and dirt-repellent, among other things. They are also referred to as “chemicals for eternity” and are used in various products such as cosmetics, textiles and cookware. The 3M case concerned the use of the substances in firefighting foam for extinguishing work on military premises and airfields.
According to a statement from 3M, the negotiated amount of compensation should flow over 13 years. This settles all pending and future lawsuits from water utilities in the United States, it said. The stock, which has fallen sharply in recent months, rose by more than five percent on the Tradegate trading platform before the market opened.
3M plans to phase out PFAS chemicals by 2025
CEO Mike Roman spoke of an “important step” in the company’s efforts to get out of the production of harmful substances. More than 20 years ago, 3M announced that it would phase out the production of PFAS chemicals. The group is now taking the project seriously. From the end of 2025, such substances will no longer be manufactured at 3M.
3M produced the chemicals for decades – and they found their way into drinking water in many places in the USA through the use of the foams. According to the agreement, 3M must pay at least $10.5 billion. According to a plaintiff attorney, whether it will be up to 12.5 billion dollars depends on the amount of PFAS that is specifically detected in drinking water that has not yet been tested. 3M announced that it would post a pre-tax charge of around $10.3 billion in the current second quarter.
The water pollution cases are among a total of 4,000 lawsuits against 3M and other US companies currently being dealt with in federal court in Charleston, South Carolina. The responsible judge still has to approve the agreement with the US group.