Motion (2020-05-06)

Summary

Document 9-2 in Case 8:20-cv-01003-MSS-CPT, filed May 6, 2020, is Exhibit 2: a three-page printout of a 3M news release dated April 6, 2020. The release announces a plan by 3M and the Trump Administration to import 166.5 million respirators over three months, primarily from 3M's manufacturing facility in China, to supplement the 35 million N95 respirators 3M states it produces in the U.S. each month. It states that 3M doubled global N95 output to 1.1 billion per year, expects to produce 50 million per month in the U.S. in June, and has not changed the prices it charges for respirators. The release quotes the company's chairman and CEO and closes with forward-looking statement cautions.

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Case 8:20-cv-01003-MSS-CPT   Document 9-2   Filed 05/06/20   Page 1 of 3 PageID 224




          EXHIBIT 2
   Case 8:20-cv-01003-MSS-CPT                        Document 9-2             Filed 05/06/20           Page 2 of 3 PageID 225


Published on 3M News | Unit ed St at es (ht t ps://news.3m.com) on 4/6/20 5:58 pm CDT



3M and the Trump Administration Announce Plan to
Import 166.5 Million Additional Respirators into the
United States over the Next Three Months
Release Date:
Monday, April 6, 2020 5:58 pm CDT

T erms:
 Company (English)

Dateline City:
ST. PAUL, Minn.


Imports to supplement the 35 million N95 respirators 3M currently
produces in U.S. per month
ST. PAUL, Minn.--(BUSINESS WIRE)--Today 3M and t he Trump Administ rat ion are announcing a plan t o import 166.5 million
respirat ors over t he next t hree mont hs t o support healt hcare workers in t he Unit ed St at es. 3M and t he Administ rat ion
worked t oget her t o ensure t hat t his plan does not creat e furt her humanit arian implicat ions for count ries current ly fight ing
t he COVID-19 out break, and commit t ed t o furt her collaborat e t o fight price gouging and count erfeit ing.

“I want t o t hank President Trump and t he Administ rat ion for t heir leadership and collaborat ion,” said 3M chairman and CEO
Mike Roman. “We share t he same goals of providing much-needed respirat ors t o Americans across our count ry and
combat ing criminals who seek t o t ake advant age of t he current crisis. These import s will supplement t he 35 million N95
respirat ors we current ly produce per mont h in t he Unit ed St at es.”

“Given t he realit y t hat demand for respirat ors out paces supply, we are working around t he clock t o furt her expand our
capacit y, while priorit izing and redirect ing our supplies t o serve t he most crit ical areas,” Roman cont inued. “We’ll cont inue t o
do all we can t o prot ect our heroic healt hcare workers and first responders, and I want t o t hank our 96,000 3Mers for your
t ireless effort s – including t hose in our plant s and dist ribut ion cent ers around t he world.”

3M will import 166.5 million respirat ors over t he next t hree mont hs primarily from it s manufact uring facilit y in China, st art ing in
April. The Administ rat ion is commit t ed t o working t o address and remove export and regulat ory rest rict ions t o enable t his
plan. The plan will also enable 3M t o cont inue sending U.S. produced respirat ors t o Canada and Lat in America, where 3M is t he
primary source of supply.

As a global company, 3M has manufact uring operat ions around t he world t o serve local and regional market s. As t he
pandemic unfolds in different st ages around t he world, 3M will cont inue t o work wit h government s t o direct respirat ors and
ot her supplies t o serve areas most in need.

Beginning in January, 3M ramped up product ion of N95 respirat ors and doubled it s global out put t o 1.1 billion per year –
including t he 35 million a mont h in t he Unit ed St at es. 3M has already put int o mot ion addit ional invest ment s and act ions t hat
will enable it t o double it s capacit y again t o 2 billion globally wit hin 12 mont hs, wit h addit ional capacit y t o begin coming online
in t he next 60 t o 90 days. In t he Unit ed St at es, for example, 3M expect s t o be producing N95 respirat ors at a rat e of 50
million per mont h in June, a 40 percent increase from current levels.

Last week 3M announced addit ional act ions t o address price gouging and count erfeit act ivit y relat ed t o it s respirat ors. 3M
has not changed t he prices it charges for respirat ors, and will t ake decisive act ion against t hose seeking t o t ake illegal and
unet hical advant age of t he COVID-19 out break.

Fo rward-Lo o king Statements
This news release cont ains forward-looking informat ion about 3M's financial result s and est imat es and business prospect s
t hat involve subst ant ial risks and uncert aint ies. You can ident ify t hese st at ement s by t he use of words such as "ant icipat e,"
"est imat e," "expect ," "aim," "project ," "int end," "plan," "believe," "will," "should," "could," "t arget ," "forecast " and ot her words
and t erms of similar meaning in connect ion wit h any discussion of fut ure operat ing or financial performance or business plans
or prospect s. Among t he fact ors t hat could cause act ual result s t o differ mat erially are t he following: (1) worldwide
economic, polit ical, regulat ory, capit al market s and ot her ext ernal condit ions and ot her fact ors beyond t he Company's
cont rol, including nat ural and ot her disast ers or climat e change affect ing t he operat ions of t he Company or it s cust omers
and suppliers; (2) risks relat ed t o public healt h crises such as t he global pandemic associat ed wit h t he coronavirus (COVID-
19); (3) liabilit ies relat ed t o cert ain fluorochemicals, including lawsuit s concerning various PFAS-relat ed product s and
chemist ries, and claims and government al regulat ory proceedings and inquiries relat ed t o PFAS in a variet y of jurisdict ions; (4)
legal proceedings, including significant development s t hat could occur in t he legal and regulat ory proceedings described in
t he Company's Annual Report on Form 10-K for t he year ended Dec. 31, 2019, and any subsequent quart erly report s on Form
10-Q (t he “Report s”); (5) compet it ive condit ions and cust omer preferences; (6) foreign currency exchange rat es and
fluct uat ions in t hose rat es; (7) t he t iming and market accept ance of new product offerings; (8) t he availabilit y and cost of
purchased component s, compounds, raw mat erials and energy (including oil and nat ural gas and t heir derivat ives) due t o
short ages, increased demand or supply int errupt ions (including t hose caused by nat ural and ot her disast ers and ot her
   Case 8:20-cv-01003-MSS-CPT                      Document 9-2            Filed 05/06/20          Page 3 of 3 PageID 226
event s); (9) unant icipat ed problems or delays wit h t he phased implement at ion of a global ent erprise resource planning (ERP)
syst em, or securit y breaches and ot her disrupt ions t o t he Company's informat ion t echnology infrast ruct ure; (10) t he impact
of acquisit ions, st rat egic alliances, divest it ures, and ot her unusual event s result ing from port folio management act ions and
ot her evolving business st rat egies, and possible organizat ional rest ruct uring; (11) operat ional execut ion, including scenarios
where t he Company generat es fewer product ivit y improvement s t han est imat ed; (12) financial market risks t hat may affect
t he Company’s funding obligat ions under defined benefit pension and post ret irement plans; and (13) t he Company's credit
rat ings and it s cost of capit al. Changes in such assumpt ions or fact ors could produce significant ly different result s. A furt her
descript ion of t hese fact ors is locat ed in t he Report s under "Caut ionary Not e Concerning Fact ors That May Affect Fut ure
Result s" and "Risk Fact ors" in Part I, It ems 1 and 1A (Annual Report ) and in Part I, It em 2 and Part II, It em 1A (Quart erly
Report s), as updat ed by applicable Current Report s on Form 8-K. The informat ion cont ained in t his news release is as of t he
dat e indicat ed. The Company assumes no obligat ion t o updat e any forward-looking st at ement s cont ained in t his news
release as a result of new informat ion or fut ure event s or development s.

About 3M
At 3M, we apply science in collaborat ive ways t o improve lives daily. Wit h $32 billion in sales, our 96,000 employees connect
wit h cust omers all around t he world. Learn more about 3M’s creat ive solut ions t o t he world’s problems at www.3M.com or on
Twit t er @3M or @3MNews.



Language:
English

Contact:
Jennifer Ehrlich
651-733-8805

T icker Slug:
Ticker: MMM
Exchange: NYSE


Source URL: https://news.3m.com/press-release/company-english/3m-and-trump-administration-announce-plan-import-1665-
million-addition


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