Billion-dollar lawsuits: Will non-stick chemicals finally stick on 3M?

Twin cities | August 18, 2019

3M’s pollution problems in Minnesota appear to be receding. But nationwide, they are rising like the floodwaters of the Mississippi River. An estimated 35 federal bills take aim at 3M Co.’s chemical pollution, and 41 states have complained that it’s in their groundwater. Wall Street analysts have downgraded 3M’s stock, citing potential legal liabilities of up to $6 billion. 3M, they fear, is about to be injured by its own creation. “From a legal standpoint, this is like an octopus — lots of arms, lots of outcomes, lots of issues to decide,” said Nick Heymann, an analyst with the advisory firm William Blair & Co. The chemicals, found in groundwater around the world and millions of consumer products, seem to be in many places. And so does the potential legal liability. “(The chemicals) remain an acute risk with product liability still unquantifiable,” said a July report of RBC Capital Markets, by analyst Deane Dray.
Citing the risk of lawsuits and cleanup costs, RBC in July downgraded the 3M stock — as have other advisory firms.

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CHEMICAL MANAGEMENT

Azelis Reinforces Its Leadership in the Benelux With the Acquisition of Sirius International

Businesswire | June 02, 2023

Azelis a leading innovation service provider in the specialty chemicals and food ingredients industry, announces that it has signed an agreement to acquire 100% of the shares of Sirius International (“Sirius”), a well-established distributor of specialty chemicals in the Benelux market. This acquisition complements Azelis’ lateral value chain in home care and industrial cleaning with an attractive portfolio and aligns perfectly with Azelis' ambition to become a world-leading innovation service provider. Pioneering in the formulation of sustainable cleaning products from biodegradable and/or recyclable chemical raw materials and with expertise in green chemicals, Sirius will reinforce Azelis' best-in-class sustainability program and enable it to offer innovative environmental solutions to its customers in the EMEA region and beyond. Founded in 2004 by current CEO Leo Verboeket, Sirius is a distributor of environmentally friendly chemicals for the detergent, personal care and water treatment markets in Europe. Based in Baarn, the Netherlands, this team of experienced professionals has an established market position and longstanding relationships with its principals, providing innovative products to European customers. Leo Verboeket, CEO Sirius, comments “We are excited to join Azelis’ family, a company that shares our values and commitment to sustainability. We look forward to developing more innovative solutions for our customers and expanding the reach of our current offerings to customers worldwide. This partnership will allow us to leverage Azelis' global network and expertise in sustainable chemistry, as we work together towards our shared goal of making a positive impact on the environment and society.” Evy Hellinckx, Managing Director Azelis Benelux, adds “By joining forces with Sirius, we are delighted to strengthen our presence in, among others, the home care and industrial cleaning markets in the Benelux and EMEA region. We are committed to promoting sustainable solutions across all sectors of the chemical industry, and we believe that this partnership will help us achieve our goals. We look forward to working with the talented team at Sirius to drive innovation and deliver value to our customers, while staying true to our shared values of sustainability and responsible business practices.” About Azelis Azelis is a leading global innovation service provider in the specialty chemical and food ingredients industry, present in 63 countries across the globe with over 3,800 employees. Our knowledgeable teams of industry, market and technical experts are each dedicated to a specific market within Life Sciences and Industrial Chemicals. We offer a lateral value chain of complementary products to more than 59,000 customers, supported by +2,700 principal relationships, creating a turnover of €4.1 billion (2022). Azelis Group NV is listed on Euronext Brussels under ticker AZE.

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MARKET OUTLOOK

SAR Technology Inc. Contracts MECS for Spent E-grade Acid Regeneration Plant

Businesswire | May 19, 2023

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CHEMICAL MANAGEMENT, MARKET OUTLOOK

Carbios Accelerates Its Enzyme Optimization With Screening Capabilities for Millions of Enzymes in a Day

Businesswire | April 24, 2023

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