Business
3M Resolves PFAS-Related Claims with the State of New Jersey
3M (NYSE: MMM) has reached an agreement that resolves all legacy claims related to the Chambers Works site in Salem County, New Jersey, currently owned by The Chemours Company and, before that, by DuPont. In addition, the settlement extends to PFAS-related claims that the State of New Jersey and its departments have, or may in the future have, against 3M.
About this update from 3m Company
[{"type":"text","content":"The agreement, which is subject to court approval, includes:","length":60,"tagName":"p","attribs":{}},{"type":"list","items":[{"val":[{"type":"text","content":"A pre-tax present value commitment of approximately $210 million to resolve the legacy Chambers Works litigation and other elements of the settlement.","length":150,"tagName":"p"}]},{"val":[{"type":"text","content":"A pre-tax present value commitment of approximately $75 million to resolve current and future statewide claims starting in 2030 and running through 2050.","length":153,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":303,"olType":false},{"type":"text","content":"ST. PAUL, Minn., May 12, 2025 /PRNewswire/ -- 3M (NYSE: MMM) has reached an agreement that resolves all legacy claims related to the Chambers Works site in Salem County, New Jersey, currently owned by The Chemours Company and, before that, by DuPont. In addition, the settlement extends to PFAS-related claims that the State of New Jersey and its departments have, or may in the future have, against 3M.","length":403,"tagName":"p"},{"type":"image","alt":"3M (PRNewsfoto/3M)","displaySize":"","headline":null,"caption":"3M (PRNewsfoto/3M)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":250,"url":"https://media.zenfs.com/en/prnewswire.com/501c67750c8fe6aa93765bf707476fcf"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/IaMhBX5mT57Irnzv90UMnw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ0MTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/501c67750c8fe6aa93765bf707476fcf","width":400,"height":250}},"href":"https://mma.prnewswire.com/media/1955952/3M_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"This agreement is another important step toward reducing risk and uncertainty on these legacy issues, allowing 3M to focus on its strategic priorities. In 2000, 3M announced it was voluntarily exiting PFOA and PFOS manufacturing and, in 2022, that it would discontinue all PFAS manufacturing by the end of 2025. 3M remains on track to do so.","length":341,"tagName":"p"},{"type":"text","content":"In the agreement, the State specifically recognized that 3M "has taken actions, which other companies have not taken, to cease manufacturing" PFAS.","length":157,"tagName":"p"},{"type":"text","content":"The company remains focused on creating ...