Welcome to our dedicated page for 3M news (Ticker: MMM), a resource for investors and traders seeking the latest updates and insights on 3M stock.
3M Company reports recurring developments across its science-based industrial, transportation and electronics, and consumer businesses. Company updates commonly cover quarterly results, guidance, margins, cash flow, portfolio reshaping, transformation costs, PFAS and litigation-related items, and capital-structure activity.
News also includes product and capacity updates tied to 3M technologies and brands, including 3M Expanded Beam Optical interconnect solutions for data centers and Scotch-Brite consumer cleaning products. Other recurring themes include investor events, board and leadership appointments, government affairs, and manufacturing investments linked to the company's global operations.
3M showcased its innovative technologies at CES 2023, the world’s largest tech event. Key highlights include advancements in virtual reality with PICO VR headsets, collaboration on medical wearables such as the Gatorade Gx Sweat Patch with Epicore Biosystems, and contributions to the electric vehicle market with battery performance solutions. Additionally, 3M demonstrated the Post-it® App for Teams to support hybrid work.
Jayshree Seth, 3M's chief science advocate, participated in a panel on sustainability in consumer electronics.
3M is actively participating in a national initiative led by the White House to eliminate systemic barriers in STEMM (science, technology, engineering, mathematics, and medicine). This collaboration involves over 90 organizations and combines more than $1.2 billion in investments. As part of its commitment, 3M aims to provide 5 million STEMM learning experiences for underrepresented individuals by the end of the 2025-26 school year. This effort includes scholarships, fellowships, and initiatives to improve STEMM career awareness.
3M (NYSE: MMM) announced its decision to exit per- and polyfluoroalkyl substance (PFAS) manufacturing by the end of 2025, a move influenced by regulatory trends and stakeholder expectations. The company plans to discontinue the use of PFAS across its product portfolio, which currently generates approximately $1.3 billion in annual net sales. 3M expects to incur pre-tax charges between $1.3 billion and $2.3 billion during this transition, with about 70-80% being non-cash. This strategy aims to position 3M for sustainable growth while addressing environmental concerns.
3M is enhancing safety in 100 school zones across 23 countries by 2024, having completed 32 projects to date. These initiatives aim to protect 10,000 children, addressing the leading global cause of death for children due to road traffic accidents. A notable project in Japan improved visibility for students, prompting safer driver behavior. 3M collaborates with NGOs and local governments to implement high-performance road materials and technologies like Diamond Grade Reflective Sheeting for better visibility. The company emphasizes public-private partnerships to tackle road safety.
3M emphasizes the importance of maintaining clean indoor air, especially during the holiday season when homes are tightly sealed. Acknowledging that Americans spend 90% of their time indoors, the company outlines potential airborne pollutants, including allergens and microbes. It offers practical tips for improving indoor air quality, such as using air purifiers with True HEPA filters and ensuring HVAC systems are well-maintained. The press release highlights the availability of 3M's air quality products designed to enhance home environments.
Kindeva Drug Delivery and Meridian Medical Technologies have successfully merged, forming a leading global contract development and manufacturing organization (CDMO) focused on drug-device combination products. The newly combined entity, Kindeva, will leverage enhanced capabilities across various drug delivery methods, including inhalation and transdermal solutions. Milton Boyer, former CEO of Meridian, now leads Kindeva. This merger consolidates Kindeva's existing strength as a leader in drug-device solutions, having a rich history of innovation since the 1950s.
3M Health Information Systems announced that U.S. News & World Report is evaluating its 3M™ Ambulatory Potentially Preventable Complications (AM-PPC) software for potential inclusion in the 2023-2024 Best Hospitals rankings. This software aims to enhance patient safety in outpatient settings, which account for approximately 70% of surgeries in the U.S. A preliminary analysis indicates that complication rates may reach 10% for some procedures. Effective identification and reduction of complications can improve patient experiences and safety.
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3M recognized 15-year-old Shiven Taneja for his remarkable efforts in building over 120 Corsi-Rosenthal air purifiers during the COVID-19 pandemic, aiding vulnerable individuals in his community. On November 11, 3M hosted Shiven at its headquarters in St. Paul, MN, where he participated in science demonstrations, interacted with technical experts, and spoke via video call with the Corsi-Rosenthal Box co-inventors. The event highlighted Shiven's dedication and 3M's commitment to community engagement.