3/20, 6:24 PM (Source: TeleTrader)
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3M boosts production to help combat COVID-19

The 3M Company announced on Friday it is "fully committed" to support the healthcare industry in the United States and globally as it has doubled the production of N95 face masks in order to fight the spread of COVID-19.

The American multinational conglomerate said its global output of N95 respirators grew at the rate of over $1.1 billion per year, or close to $100 million per month. In addition, it said it is increasing its investments, primarily in the US, as it plans to expand its global capacity by more than 30% in the next 12 months.

"This pandemic is affecting us all, and we are doing all we can to support public health and especially our first-responders and those impacted by this global health crisis. We are mobilizing all available resources and rapidly increasing output of critical supplies healthcare workers in the United States and around the world need to help protect their lives as they treat others," stated Mike Roman, the company's chairman and CEO.

Breaking the News / BJ