Here's How Much 3M Could Make From Coronavirus N95 Mask Sales
Industrials conglomerate 3M (NYSE: MMM) presented at the J.P. Morgan Industrials Conference on March 10, and there were expectedly a lot of questions around the COVID-19 coronavirus outbreak, specifically about how much sales N95 masks could bring in for the company. 3M has ramped up production of N95 masks and contracted with the government, with Vice President Mike Pence even visiting 3M headquarters last week to discuss higher production -- supposedly of the N95 masks.
While 3M's CEO Mike Roman refrained from giving out individual product numbers at the conference, he pegged potential revenue from coronavirus-related respiratory products to be similar to that from the H1N1 outbreak, around $250 million.
During the conference, Roman affirmed how 3M's priority remains the safety of the public, something it aims to achieve "through its products and services." Accordingly, 3M has increased production at manufacturing facilities around the world, including a plant in China that produces respirators. 3M kept the plant fully operational through the Lunar New Year break as well as the extended coronavirus shutdown to maximize production of respiratory products.
Source Fool.com
