3M to Cut Costs as Business Cools Beyond Masks

3M, maker of the coveted N95 face masks used by workers treating coronavirus patients, said sales grew in its medical business while a deepening industrial downturn weighed on its results overall

3M Co., maker of coveted N95 face masks used by workers treating coronavirus patients, said sales grew in its medical business while a deepening industrial downturn weighed on its results overall.

3M withdrew its guidance for the year Tuesday, citing uncertainty about the broader industrial economy. While the pandemic has sharply increased demand for some 3M products, most notably its face masks, the company said demand has fallen for other goods, like industrial glues, as factory closures ripple through the industrial economy.

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