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3M suffers quarterly loss due to settlement on “forever chemicals”.
3M Co Reports Quarterly Loss Due to Water Pollution Claims
Last month, the diversified manufacturer agreed to pay a $10.3 billion settlement to forever chemicals“.”>resolve water pollution claims from U.S. public water systems. This settlement is related to the use of “forever chemicals” that have been linked to cancer, hormonal dysfunction, and environmental damage. Additionally, 3M Co is facing thousands of lawsuits for defective earplugs that caused hearing loss in U.S. military members.
The St. Paul, Minnesota-based company reported a loss of $12.35 per share for the second quarter, compared to a profit of 14 cents in the same period last year.
(Reporting by Kannaki Deka in Bengaluru; Editing by Shinjini Ganguli)
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