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Oct. 19, 2021, 1:00 p.m. EDT

3M reaches deal to resolve litigation related to addressing PFAS issues near Alabama facility

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By Tomi Kilgore

Shares of 3M Co. /zigman2/quotes/205029460/composite MMM -1.19% rose 0.5% in midday trading Tuesday, after the industrial and consumer products company said it reached an agreement with several parties resolve litigation related to addressing pre- and polyfluoroalkyl substances (PFAS) issues near the Decatur, Ala. facility. The company, the parent of brands including Post-it notes, Scotch tape and Ace bandages, said the parties that it has reached agreement with include The City of Decatur and Morgan County, the plaintiffs in St. John and the Tennessee Riverkeeper organization. As part of the agreement, 3M said it will contribute $99 million to build "a stronger environment and community in Decatur and the surrounding area." For Tennessee Riverkeeper and St. John plaintiffs, 3M said it will continue environmental characterization, including testing soil, ground water and sediment for PFAS. The stock has gained 4.5% year to date, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -2.53% has advanced 15.8%.

/zigman2/quotes/205029460/composite
US : U.S.: NYSE
$ 175.52
-2.11 -1.19%
Volume: 1.91M
Nov. 26, 2021 1:10p
P/E Ratio
17.24
Dividend Yield
3.37%
Market Cap
$102.36 billion
Rev. per Employee
$338,825
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,899.34
-905.04 -2.53%
Volume: 325.39M
Nov. 26, 2021 2:12p
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