3M (NYSE:MMM)
(MMM shares –14.3% since Feb. 19)
“After SARS in the early 2000s, we made the decision to prepare for future crises by investing in significant surge capacity at each of our respirator plants around the world. … As you know, compared to prior emergencies, COVID-19 has caused an unprecedented explosion in demand. When the virus broke out, we were able to immediately activate our surge capacity and maximize production to support the public health response. … In the U.S., we will be producing N95 respirators at a rate of roughly 50 million per month in June, a 40% increase from current levels.”
– Mike Roman, CEO of 3M
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