3M Belgium announces over $580M agreement on environmental actions

By Gokhan Ergocun

ISTANBUL (AA) – The US-based conglomerate 3M committed to making an investment of €571 million ($581.1 million) in Belgium to compensate for its environmental damages.

Previously, the firm was involved in an environmental case related to its polyfluoroalkyl substance (PFAS) production facility.

According to a statement from 3M on Wednesday, the firm will make investments "to benefit the people of Flanders and also carry out certain previously agreed-upon PFAS-related remedial actions."

Flemish Environment Minister Zuhal Demir said: "This agreement is the result of an intense process during months in which 3M Belgium took action and financial responsibility towards our community."

With the agreement, Belgium will be able to get things done in the best interest of the people of Zwijndrecht, local farmers and prosperity and wellbeing in general, she said.

John Banovetz, executive vice president of 3M, said: "We greatly appreciate the ministry's collaboration in reaching this agreement, which builds on the commitments we have previously made and will fully uphold to carry out PFAS-related remediation and provide other support to the Flanders region."​​​​​​​