Sounds like a great idea what with all the pollution lawsuits and costs for cleanups going on in the core business. (See the story I placed on this board weeks ago about $MMM’s huge pollution problem in Europe:
https://discussion.fool.com/bbg-mmm-forever-chemicals-come-to-eu… )
And now here’s today’s latest, 3M is breaking out a piece of their business and will maintain 19.9% ownership of the new shares:
CNBC headline: 3M will spin off its health care business into a new public company
PUBLISHED TUE, JUL 26 20226:51 AM EDTUPDATED 27 MIN AGO
https://www.cnbc.com/2022/07/26/3m-will-spin-off-its-health-…
3M announced Tuesday that it will spin off its health care business into a separate publicly traded company.
The new business will focus on wound and oral care, healthcare IT and biopharma filtration, the material science company said in a release.
The announcement comes alongside 3M’s second-quarter earnings report.
3M announced Tuesday that it will spin off its health care business into a separate publicly traded company.
The new business will focus on wound and oral care, healthcare IT and biopharma filtration, the material science company said in a release. That includes products like its bandages, skin adhesives, oral aligners, air purifiers and optical lenses.
3M health care products recorded more than $8 billion in sales in 2021. The transaction is expected to be completed by the end of next year, and 3M will maintain a 19.9% stake in the new company.