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April 14, 2020, 10:14 a.m. EDT

3M to partner with engine-maker Cummins to build filters for powered air purifying respirators

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By Tomi Kilgore

3M Co. /zigman2/quotes/205029460/composite MMM +0.87% said Tuesday it was partnering with engine maker Cummins Inc. /zigman2/quotes/208385233/composite CMI +1.99% to boost production of high efficiency particulate filters used in its powered air purifying respirators (PAPRs). The maker of N9N facemasks, and other protective, construction and consumer products, said the partnership could more than double the current production of filters for PAPRs, which is needed as production of PAPRs have been ramped up to meet the surge in demand for personal protective equipment (PPE) as a result of the COVID-19 pandemic. Cummins' facility in Neillsville, Wisconsin will use equipment normally used to make diesel engine filters to make the PAPR filters, as guided by a 3M design, with production expected to begin by the end of April. After the filters are made, they will be sent to 3M's plant in Valley, Nebraska where PAPRs are made. Shares of 3M rose 2.7% and Cummins gained 2.1%. Over the past three months, 3M's stock has lost 17.1%, Cummins shares have shed 13.4% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.51% has dropped 17.1%.

/zigman2/quotes/205029460/composite
US : U.S.: NYSE
$ 161.66
+1.39 +0.87%
Volume: 2.10M
Sept. 28, 2020 4:03p
P/E Ratio
18.33
Dividend Yield
3.64%
Market Cap
$92.32 billion
Rev. per Employee
$350,368
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/zigman2/quotes/208385233/composite
US : U.S.: NYSE
$ 212.79
+4.16 +1.99%
Volume: 874,917
Sept. 28, 2020 4:02p
P/E Ratio
18.97
Dividend Yield
2.46%
Market Cap
$30.81 billion
Rev. per Employee
$379,668
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,584.06
+410.10 +1.51%
Volume: 405.06M
Sept. 28, 2020 5:06p
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