3M Co. announced on Monday an investment of $165 million to improve water quality and reduce water use at its manufacturing facility in Cottage Grove, Minnesota. In August of 2021, the company announced it would no longer use an incinerator to process waste in Cottage Grove. 3M has fully transitioned its waste management at the site to an experienced third party, and as a result, will reduce its on-site energy use by an estimated 25 percent.
The technology investment in Cottage Grove is another step forward in the company's $1 billion, 20-year commitment to ambitious environmental goals, which include improved water quality, reduced water use and reduced plastic use – as well as achieving carbon neutrality by 2050.
"3M continues to proactively evolve our manufacturing capabilities to better serve our customers, enhance our ability to deliver science at scale and advance our commitment to environmental stewardship," said Roman. "This investment in Cottage Grove is another example of how 3M invests in and partners with the communities in which we operate."
The announcement about the Cottage Grove plant came as 3M provided its sales guidance for 2022.
Overall, 3M is expecting 2% to 5% in organic sales growth with earnings per share falling between $10.15 to $10.65.
