3M & the Trump Administration Announce Plan to Import 166.5 Million Additional Respirators into the United States over the Ne...
April 06 2020 - 6:58PM
Business Wire
Imports to supplement the 35 million N95
respirators 3M currently produces in U.S. per month
Today 3M and the Trump Administration are announcing a plan to
import 166.5 million respirators over the next three months to
support healthcare workers in the United States. 3M and the
Administration worked together to ensure that this plan does not
create further humanitarian implications for countries currently
fighting the COVID-19 outbreak, and committed to further
collaborate to fight price gouging and counterfeiting.
“I want to thank President Trump and the Administration for
their leadership and collaboration,” said 3M chairman and CEO Mike
Roman. “We share the same goals of providing much-needed
respirators to Americans across our country and combating criminals
who seek to take advantage of the current crisis. These imports
will supplement the 35 million N95 respirators we currently produce
per month in the United States.”
“Given the reality that demand for respirators outpaces supply,
we are working around the clock to further expand our capacity,
while prioritizing and redirecting our supplies to serve the most
critical areas,” Roman continued. “We’ll continue to do all we can
to protect our heroic healthcare workers and first responders, and
I want to thank our 96,000 3Mers for your tireless efforts –
including those in our plants and distribution centers around the
world.”
3M will import 166.5 million respirators over the next three
months primarily from its manufacturing facility in China, starting
in April. The Administration is committed to working to address and
remove export and regulatory restrictions to enable this plan. The
plan will also enable 3M to continue sending U.S. produced
respirators to Canada and Latin America, where 3M is the primary
source of supply.
As a global company, 3M has manufacturing operations around the
world to serve local and regional markets. As the pandemic unfolds
in different stages around the world, 3M will continue to work with
governments to direct respirators and other supplies to serve areas
most in need.
Beginning in January, 3M ramped up production of N95 respirators
and doubled its global output to 1.1 billion per year – including
the 35 million a month in the United States. 3M has already put
into motion additional investments and actions that will enable it
to double its capacity again to 2 billion globally within 12
months, with additional capacity to begin coming online in the next
60 to 90 days. In the United States, for example, 3M expects to be
producing N95 respirators at a rate of 50 million per month in
June, a 40 percent increase from current levels.
Last week 3M announced additional actions to address price
gouging and counterfeit activity related to its respirators. 3M has
not changed the prices it charges for respirators, and will take
decisive action against those seeking to take illegal and unethical
advantage of the COVID-19 outbreak.
Forward-Looking Statements This news release 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)
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; (4) 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, 2019, and
any subsequent quarterly reports on Form 10-Q (the “Reports”); (5)
competitive conditions and customer preferences; (6) foreign
currency exchange rates and fluctuations in those rates; (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; and (13) the Company's credit ratings and its
cost of capital. 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), as updated by
applicable Current Reports on Form 8-K. The information contained
in this news release is as of the date indicated. The Company
assumes no obligation to update any forward-looking statements
contained in this news release as a result of new information or
future events or developments.
About 3M At 3M, we apply science in collaborative ways to
improve lives daily. With $32 billion in sales, our 96,000
employees connect with customers all around the world. Learn more
about 3M’s creative solutions to the world’s problems at www.3M.com
or on Twitter @3M or @3MNews.
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version on businesswire.com: https://www.businesswire.com/news/home/20200406005869/en/
Jennifer Ehrlich 651-733-8805
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