3M Company has reached a significant agreement to settle all legacy claims related to the Chambers Works site in Salem County, New Jersey. The site, formerly owned by DuPont and now by The Chemours Company, has been at the center of litigation concerning PFAS contamination. The settlement, which is subject to court approval, involves a financial commitment from 3M, including a pre-tax present value of approximately $210 million to address the Chambers Works litigation and other settlement elements. Additionally, 3M has agreed to a pre-tax present value commitment of roughly $75 million to resolve current and future PFAS-related claims by the State of New Jersey, with payments commencing in 2030 and continuing through 2050. This resolution marks a crucial step for 3M in managing risk and uncertainty related to its historical operations and aligns with its strategic priorities.
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