US chemical corporation 3M sells Russian assets

MOSCOW, Jul 26 (PRIME) -- U.S. chemical corporation 3M, originally known as The Minnesota Mining and Manufacturing Company, has closed the sale of its Russian assets with a profit of U.S. $18 million, the company said in a report on Wednesday.

3M said it suspended operations of its Russian assets in March 2022 and closed their sale in June 2023.

The company also conducts other operations, where it uses some raw materials from Russia, but the current geopolitical situation disrupted the supplies. Destabilization of the situation could disrupt the supply chains further and hurt the customers that process and sell products, raise the energy prices, and reduce consumer demand, the company said.

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