Item 8.01. Other Events
As previously disclosed in the Company's SEC filings, 3M Belgium has been
working through certain environmental matters with relevant Belgian government
agencies in connection with operations at 3M Belgium's Zwijndrecht facility,
including those related to a wastewater discharge permit modification and air
emissions. Actions by the Belgian government resulted in the idling of certain
manufacturing processes at the facility.
As an update, 3M Belgium has received approval to begin the process toward
restarting its manufacturing operations at the Zwijndrecht facility, following
the Company's previously announced investment in new and additional technologies
to significantly reduce PFAS discharges and emissions from the facility. 3M
Belgium expects the process for restarting previously-idled operations at the
facility to take at least several weeks. Belgian government authorities continue
to maintain oversight of 3M Belgium's operations and compliance with applicable
requirements at the Zwijndrecht facility.
As also previously disclosed, the Company has been working with Belgian
government agencies to address remediation related to legacy manufacturing of
PFAS (PFOA/PFOS) at the Zwijndrecht facility. In addition to the investments the
Company previously announced to advance remedial actions for the Zwijndrecht
community to address such legacy manufacturing at the facility, the Company is
in discussions with the Belgian government authorities regarding additional
investments to fund further remediation actions related to PFAS (PFOA/PFOS)
previously produced at the Zwijndrecht facility.
Forward-Looking Statements
This Form 8-K contains forward-looking information about 3M's financial results
and estimates and business prospects that involve substantial risks and
uncertainties. You can identify these statements by the use of words such as
"anticipate," "estimate," "expect," "aim," "project," "intend," "plan,"
"believe," "will," "should," "could," "target," "forecast" and other words and
terms of similar meaning in connection with any discussion of future operating
or financial performance or business plans or prospects. Among the factors that
could cause actual results to differ materially are the following: (1) worldwide
economic, political, regulatory, capital markets and other external conditions
and other factors beyond the Company's control, including natural and other
disasters or climate change affecting the operations of the Company or its
customers and suppliers; (2) risks related to public health crises such as the
global pandemic associated with the coronavirus (COVID-19); (3) foreign currency
exchange rates and fluctuations in those rates; (4) liabilities related to
certain fluorochemicals, including lawsuits concerning various PFAS-related
products and chemistries, and claims and governmental regulatory proceedings and
inquiries related to PFAS in a variety of jurisdictions; (5) legal proceedings,
including significant developments that could occur in the legal and regulatory
proceedings described in the Company's Annual Report on Form 10-K for the year
ended Dec. 31, 2021, as updated by the Company's Current Report on Form 8-K
dated April 26, 2022, and any subsequent quarterly reports on Form 10-Q (the
"Reports"); (6) competitive conditions and customer preferences; (7) the timing
and market acceptance of new product offerings; (8) the availability and cost of
purchased components, compounds, raw materials and energy (including oil and
natural gas and their derivatives) due to shortages, increased demand or supply
interruptions (including those caused by natural and other disasters and other
events); (9) unanticipated problems or delays with the phased implementation of
a global enterprise resource planning (ERP) system, or security breaches and
other disruptions to the Company's information technology infrastructure; (10)
the impact of acquisitions, strategic alliances, divestitures, and other unusual
events resulting from portfolio management actions and other evolving business
strategies, and possible organizational restructuring; (11) operational
execution, including scenarios where the Company generates fewer productivity
improvements than estimated; (12) financial market risks that may affect the
Company's funding obligations under defined benefit pension and postretirement
plans; (13) the Company's credit ratings and its cost of capital; (14)
tax-related external conditions, including changes in tax rates, laws or
regulations; (15) any interruptions or delays encountered in restarting the
previously-idled manufacturing operations at the Zwijndrecht, Belgium facility,
and (16) the outcome of discussions with the Belgian government authorities on
additional remediation. Changes in such assumptions or factors could produce
significantly different results. A further description of these factors is
located in the Reports under "Cautionary Note Concerning Factors That May Affect
Future Results" and "Risk Factors" in Part I, Items 1 and 1A (Annual Report) and
in Part I, Item 2 and Part II, Item 1A (Quarterly Reports). The Company assumes
no obligation to update any forward-looking statements discussed herein as a
result of new information or future events or developments.
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