3M said on Wednesday it reached an agreement with the Belgian government to spend more than €571 million ($582 million) to carry out previously agreed PFAS-related remedial actions to address legacy manufacturing and disposal of the so-called “forever chemicals.”
The agreement contains certain provisions ending current litigation and provides certain releases of liability for 3M while recognizing that the Belgian government retains its authority to act in the future to protect its citizens.
3M last year idled some production at the Zwijndrecht plant near Antwerp after the Flemish environmental agency issued a safety measure barring emissions of the chemicals from the facility.
According to an 8-K filing, 3M expects to record a ~$360 million pretax charge in Q2 related to the Zwijndrecht actions.