Current and former U.S. military members suing 3M over allegedly defective military earplugs have asked a U.S. judge to dismiss 3M subsidiary Aearo Technologies’ bankruptcy, accusing the company of using bankruptcy to shield itself from litigation, which has grown into the largest mass tort in U.S. history. The servicemembers’ group said late on Thursday that…
US Military Members Suing 3M Seek Dismissal of Subsidiary’s Bankruptcy
3M to Cut 2,500 Manufacturing Jobs as US Economic Outlook Sours
The large U.S. manufacturer 3M said that it intends to cut more than 2,000 jobs as the economic outlook signals more turbulence this year. The St. Paul, Minnesota-based industrial and consumer goods maker had about 95,000 employees at the end of 2021, according to securities filings. The company’s CEO, Mike Roman, said he plans to cut…
California Sues Chemical Manufacturers Claiming Damage to Public Health, Environment
November 14, 2022
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3MCalifornia attorney generalLocal NewsNorthern CaliforniaPFASRegional NewsRegional-Local NewsRob BontaSouthern CaliforniaUS
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California Attorney General Rob Bonta is suing several major chemical companies citing permanent damage to public health and the environment. The lawsuit targets manufacturers of per- and polyfluoroalkyl substances—or PFAS. DuPont and 3M Company are among those named in the lawsuit filed in the state Superior Court in Alameda Nov. 10. The attorney general’s office…
3M Ordered to Pay $77.5 Million to Veteran in Latest Earplug Trial
A jury in Pensacola, Florida federal court on Friday ordered 3M Co to pay $77.5 million to a U.S. Army veteran who said he suffered hearing damage as a result of using the company’s military-issue earplugs. The verdict for veteran James Beal is the largest yet for an individual in a sprawling litigation over the…
3M Sees Earnings Hit From Waning Mask Demand
Industrial giant 3M Co. on Monday forecast a slower pace of sales growth in 2022 and a 45 cent hit to its per-share earnings, as demand for its masks wanes due to the global vaccination drive against COVID-19. The company is expecting total sales growth in the range of 1 percent to 4 percent for…
3M Profit Beats on Demand for Home Improvement, Personal Safety Products
3M Co. reported better-than-expected quarterly revenue and profit on Tuesday, as demand for its home improvement and personal safety products helped offset lower sales in the transportation and electronics unit, which is suffering from supply chain snarls. Shares of the diversified manufacturer rose 2 percent before the bell. The company, the biggest maker of N95…
3M Hit With $22.5 Million Verdict in Latest US Military Earplug Trial
December 11, 2021
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3MBusiness & EconomyCompaniesEarplugHealth NewsJudiciaryLocal NewsmilitaryMind & BodyRegional-Local NewsTheodore FinleyUSUS Newsverdict
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A federal jury on Friday awarded $22.5 million to a U.S. Army veteran who alleged that combat earplugs sold by 3M Co. caused him to suffer hearing loss and tinnitus, the biggest verdict yet in massive litigation over the product. Jurors in Pensacola, Florida, sided with former U.S. Army soldier Theodore Finley in the latest…
Partner Communications Crosses 3 Million Subscriber Mark
Partner Communications Co Ltd reported third-quarter FY21 revenue growth of 5 percent year-on-year to $259 million. Service Revenues rose 6 percent Y/Y to $208 million, and Equipment Revenues declined 2 percent Y/Y to $ 51 million. Partner exceeded the 3 million cellular subscribers for the first time in almost a decade and continued to reduce…
Industrial Giant 3M Lowers Profit Outlook on Supply Chain Woes
3M Co. cut its full-year earnings forecast on Tuesday, as the diversified manufacturer battles rising inflation, supply chain bottlenecks, and higher commodity prices. While demand for goods has rebounded with massive stimulus and the reopening of economies, a labor shortage and soaring raw material prices have left U.S. manufacturers in the lurch. Shares of 3M,…
3M Pays $98 Million to Settle Claims It Contaminated Tennessee River With Toxic Chemicals
October 20, 2021
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3MBusiness & EconomyCompaniescontaminatedeconomyforever chemicalsPFASTennessee Rivertoxic chemicalsUSUS News
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Industrial conglomerate 3M on Tuesday announced on Tuesday that it had agreed to pay $98.4 million to resolve suits over “forever” chemicals, or chemicals resistant to breaking down in the environment. The U.S. company agreed to the payout to settle claims that it had contaminated the Tennessee River with the toxic chemicals, known as perfluoroalkyl…
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