3M sets aside 148 million dollars to clean up PFOS pollution in Antwerp

US chemicals company 3M has set aside $0.26 per share in the first quarter for "PFAS-related environmental commitments" in Zwijndrecht, Antwerp, its quarterly results showed on Tuesday. 3M has nearly 570 million shares outstanding, so the amount would be about $148 million - equivalent to about €137 million.

The chemical company emphasises that this amount was already announced at the end of March. That day, 3M chief executive Mike Roman visited our country and promised to invest EUR 150 million in "initial sanitation measures" to remedy the historical spread of PFAS in Zwijndrecht.

Due to those remediation costs, 3M also lowered its profit outlook for the rest of the year on Tuesday. The chemical company is now forecasting earnings between $9.89 and $10.39 per share. Earlier, it was still talking about a profit between $ 10.15 and $ 10.65 per share. Without Zwijndrecht, the outlook remained unchanged, according to the company. On the other hand, the turnover forecast remains unchanged.

(TOM)

The 3M factory in Antwerp. - © BELGA PHOTO DAVID PINTENS