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3M: agreement with Minnesota on environmental case

(CercleFinance.com) - On Tuesday evening 3M announced an agreement with the State of Minnesota to end its proceedings against the conglomerate.
The issue concerns the presence of some perfluorinated (PFC) compounds in the environment.

Under this agreement, the group will pay 850 million dollars to the State to create a special fund, which will finance projects to improve water quality in the metropolitan area of Minneapolis-St. Paul.

Because of this agreement, the company will book in its Q1 2018 accounts a charge of 1.10 dollar to 1.15 dollar per share, including legal costs.

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