July 28, 2020

3M reports mixed results despite N95 mask boost

New York (AFP) – US industrial giant 3M reported mixed results Tuesday, with higher sales of its N95 “respirator” masks offset by weakness in transportation and other businesses due to the coronavirus.3M said home improvement, general cleaning and semiconductors were other areas of stregnth, while the healthcare elective and automotive areas were weak spots amid the upheaval of the COVID-19 shutdowns.Profits rose 14.5 percent to $1.3 billion, while revenues fell 12.2 percent to $7.2 billion.3M said it was on track to produce two billion N95 masks in 2020, effectively doubling production rates …

source https://this.kiji.is/en/660844143298790497?c=648607265489716321

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