3M agrees sale of Dyneon business in Germany

Neuss, Germany – 3M Deutschland GmbH has agreed to transfer ownership of its fluoropolymers subsidiary Dyneon GmbH to an affiliate of Swiss investment firm Capmont Group AG, marking another step in the company's transition following its exit from PFAS manufacturing.

In an 11 May announcement, US-based 3M said the transaction with the Freienbach, Switzerland based investor formed part of its efforts to optimise its post-PFAS portfolio after ending all PFAS manufacturing in 2025.

The group said it concluded that the transfer of Dyneon ownership was “a prudent step” that reflects its legal obligations and reinforces its commitment to “safety, compliance, responsible operations, and financial responsibility.”

Financial terms of the transaction were not disclosed.

The US group announced in late 2022 that it intended to close the German plant due to regulatory moves against fluorinated substances.

Under the plan, 3M said it aimed to to phase out all per- and polyfluorinated chemicals (PFAS) – including fluoroelastomers manufactured by its Dyneon subsidiary.

In its latest announcement, 3M said the agreement was intended to provide “a responsible, sustainable path forward” for operations at the Gendorf chemical park in Bavaria and support the local economy.

Bavarian minister of economic affairs Hubert Aiwanger welcomed the move, calling it “a positive signal for Bavaria as an industrial location, the chemical triangle and the Gendorf Chemical Park.”

With the takeover by "a well-known operator with many years of experience in managing companies in the chemical industry, we are taking an important step towards a sustainable future for the plant and its employees,” he said.

3M also said it would continue to engage with authorities and previous operators on environmental remediation activities linked to historical manufacturing at the Gendorf site.

The transaction remains subject to customary closing conditions and regulatory approvals.