STOCK TITAN

3M Reaches Agreement to Address PFAS with Several Parties Near Decatur, Ala.

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

3M has reached a collaborative agreement to resolve litigation related to per- and polyfluoroalkyl substances (PFAS) near its Decatur, Ala. facility. The agreement involves contributions of approximately $99M to support community initiatives and address legacy pollution. This includes funding for public recreational facilities and necessary environmental remediation at several local sites. The collaborative agreement aims to enhance the quality of life for Decatur residents while resolving legal disputes with the City of Decatur, Morgan County, and the Tennessee Riverkeeper organization.

Positive
  • 3M will contribute approximately $99M to local initiatives, improving community infrastructure.
  • The company is addressing PFAS contamination at multiple sites, indicating a commitment to environmental responsibility.
Negative
  • The need for a $99M settlement indicates ongoing legal and environmental challenges related to PFAS.
  • Litigation resolution may not fully eliminate future liabilities associated with PFAS issues.

DECATUR, Ala., Oct. 19, 2021 /PRNewswire/ -- 3M has reached a collaborative agreement to resolve ongoing litigation and negotiations related to per- and polyfluoroalkyl substances (PFAS) near 3M's Decatur, Ala. facility with parties including The City of Decatur and Morgan County, the plaintiffs in St. John, and the Tennessee Riverkeeper organization.

Through these agreements, subject to final approval, 3M will support activities to address PFAS that 3M manufactured or disposed of, as well as to enhance the quality of life for Decatur residents. 3M's contribution to the total amount is reflected in the company's previously disclosed financial reserves for litigation contingent liabilities.

"We appreciate the importance of our relationship with our neighbors in Decatur. Through this agreement, we can resolve these matters and take action that will strengthen Decatur for the future – a great thing for 3M and this community," said Michelle Howell, Decatur Site Director. "We will continue to take collaborative action for communities where we live and work, our employees, and their friends and families."

City of Decatur, Decatur Utilities, Morgan County

The parties are pleased to have reached this agreement, through which 3M will contribute approximately $99M to support initiatives that will build a stronger environment and community in Decatur and the surrounding area. Key provisions of the agreement include:

  • Investing in the future for the Decatur community. 3M will support several initiatives that will improve the quality of life and the overall environment for Decatur.
     
    This includes community redevelopment and recreation projects by the City, County, and Decatur Utilities to develop and construct a new public recreational facility, ball fields, and other projects in the City of Decatur.
     
  • Addressing legacy production. 3M will continue to address PFAS at sites where 3M disposed of PFAS, including the Morgan County, Brookhaven, Old Moulton Road and Deer Springs landfills.
     
    This will include funding the installation of a synthetic liner and cap in portions of the Morgan County Landfill, as has been done effectively at other locations in Decatur. Furthermore, 3M will pay the City and County to reimburse costs previously incurred related to PFAS remediation.

Tennessee Riverkeeper, St. John et al.

In addition, 3M is resolving litigation between 3M and the Tennessee Riverkeeper organization, as well as the plaintiffs in the St. John matter. The agreements complement the Interim Consent Order that 3M entered with the Alabama Department of Environmental Management in 2020. Key provisions of these settlement agreements include:

  • Continuing to improve the local environment. Through its agreement with the Tennessee Riverkeeper and St. John plaintiffs, 3M will continue environmental characterization. This work will include sampling of environmental media, such as soil, ground water, and sediment regarding the potential presence of PFAS at the 3M Decatur facility and legacy disposal sites. Once this sampling has been completed, 3M will submit a report on its findings and plans to appropriately address these materials to ADEM in accordance with the Interim Consent Order. Plaintiffs will have the opportunity for input.  3M will then work with ADEM to support execution of any appropriate remedial actions.

The parties worked cooperatively over many months to reach this negotiated agreement without resorting to additional lengthy and expensive litigation, under the leadership of, Mayor Bowling, Morgan County Commission Chairman Ray Long, Decatur Utilities General Manager and Chief Executive Officer Ray Hardin, and many others. 

About 3M
At 3M (NYSE: MMM), we apply science in collaborative ways to improve lives daily as our employees connect with customers all around the world. Learn more about 3M's creative solutions to global challenges at www.3M.com or on Twitter @3M or @3MNews.

Investor Contact:
Bruce Jermeland
(651) 733-1807

Tony Riter
(651) 733-1141

Media Contact:
Sean Lynch
(651) 262-9310

3M (PRNewsfoto/3M)

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/3m-reaches-agreement-to-address-pfas-with-several-parties-near-decatur-ala-301403701.html

SOURCE 3M

FAQ

What is the agreement reached by 3M related to PFAS in Decatur, Ala.?

3M has reached a collaborative agreement to resolve litigation concerning PFAS near its Decatur facility, contributing approximately $99M for community and environmental initiatives.

How much money is 3M contributing to address PFAS issues?

3M is contributing approximately $99M to support initiatives aimed at improving the environment and community in Decatur.

What initiatives will 3M support in Decatur, Ala.?

3M will fund community redevelopment, recreational facilities, and address PFAS remediation at various local sites.

Who are the parties involved in the 3M PFAS agreement?

The parties involved include the City of Decatur, Morgan County, Tennessee Riverkeeper, and plaintiffs in the St. John litigation.

What are the impacts of the PFAS agreement on 3M's operations?

The agreement reflects ongoing legal challenges for 3M regarding PFAS, but it aims to mitigate future liabilities and improve community relations.

3M Company

NYSE:MMM

MMM Rankings

MMM Latest News

MMM Stock Data

69.24B
543.85M
0.12%
68.39%
1.22%
Conglomerates
Surgical & Medical Instruments & Apparatus
Link
United States of America
ST PAUL