class=”sc-29f61514-0 jbwksb”>
The deal still needs to be approved in federal court, stock market papers showed on Thursday.
Between $10.5 billion and $12.5 billion will be paid out over a 13-year period between 2024 and 2036. It is intended to be used for the development of technologies for water purification where it has tested positive for per- and polyfluorinated substances (PFAS) in the past or future. Money can also be used for analytics.
3M said that plaintiffs united in the class action lawsuit should therefore avoid litigation due to PFAS and other claims.
At the beginning of June, three major US chemical companies agreed to pay a total of approximately US$1.2 billion for contamination of drinking water supplies with so-called eternal chemicals. 3M has announced that it will phase out PFAS production by the end of 2025.
The group of per- and polyfluorinated substances (PFAS) is often called “forever chemicals” because these substances decompose extremely slowly. They are used in the manufacture of numerous industrial and consumer products, including carpets, waterproof clothing, cosmetics, shampoos, pizza boxes and toilet paper. However, the substances are harmful and can cause cancer and other health problems.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
