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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| 3M Company | NYSE:MMM | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 5.03 | 5.45% | 97.185 | 97.38 | 93.78 | 95.73 | 6,063,256 | 15:52:26 |
From Apr 2019 to Apr 2024
By Stephen Nakrosis
3M Co. on Thursday said it recently received two contracts from the U.S. Defense Department which will see the company increase production of N95 respirators in response to the Covid-19 pandemic.
The company said it plans to expand U.S. production from 35 million respirators per month to over 95 million by October. 3M also said that, beginning in January, it "ramped up production of respirators and doubled its global output to 1.1 billion per year."
Since the start of the Covid-19 outbreak, 3M said it has invested over $80 million in ramping up N95 respirator production. "Those investments and actions, along with these contracts, will enable the company to nearly double its current capacity again to 2 billion respirators globally by the end of the year," 3M said.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 07, 2020 12:01 ET (16:01 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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