Latest news with #3MCo.
Hans India
28-05-2025
- Business
- Hans India
3M India's Q4 net profit drops nearly 59 pc, declares Rs 160 dividend
Mumbai: 3M India Limited, the Indian entity of the US-based 3M Co., on Wednesday reported that the company's net profit fell by 58.7 per cent year-on-year (YoY) to Rs 71.37 crore in the fourth quarter of the financial year 2024-25 (Q4 FY25), compared to Rs 172.85 crore in the same quarter previous fiscal (Q4 FY24). One of the key factors affecting the profit was a sharp rise in tax expenses. The current tax more than doubled to Rs 146.73 crore in the fourth quarter, compared to Rs 58.34 crore in the same period previous fiscal. However, revenue from operations increased by 9.48 per cent to Rs 1,198.23 crore in Q4 FY25, up from Rs 1,094.54 crore in the year-ago period, according to its stock exchange filing. For the full financial year FY25, 3M India's net profit declined by 18.4 per cent to Rs 476.06 crore, down from Rs 583.41 crore in the previous financial year (FY24). However, revenue from operations for the full year rose by 6.1 per cent, reaching Rs 4,445.55 crore, compared to Rs 4,189.36 crore in FY24. The company also saw a rise in total income, which went up by 7.74 per cent to Rs 1,211.74 crore from Rs 1,124.72 crore in the year-ago period. On the other hand, total expenses for the quarter slightly declined to Rs 225.22 crore, the company said in its regulatory filing. The company's board has recommended a final dividend of Rs 160 per equity share and an additional special dividend of Rs 375 per share, both on a face value of Rs 10. In terms of segment performance, the healthcare division showed strong growth, with revenue rising 17.6 per cent to Rs 233.72 crore from Rs 198.74 crore last financial year. The safety and industrial segment also performed well, growing by 14 per cent to Rs 381.45 crore, compared to Rs 334.09 crore in Q4 FY24.
Yahoo
18-04-2025
- Business
- Yahoo
State of the City: Mayor cites massive budget growth during his terms
Apr. 18—A lot has changed for Mayor Tab Bowling and the city of Decatur during his four and a half years, but few things have changed more than the city budget. During his final State of the City, an annual breakfast held by the Decatur-Morgan County Chamber of Commerce, Bowling reviewed on Thursday his two-term tenure that ends in November. He is not running for reelection. Wade Weaver, chamber public policy committee chairman, moderated the presentation. Bowling called serving as mayor "my dream job. It has been a privilege to serve this town in a way not many others have had, and we're not yet to the end." He reviewed a period of tremendous growth for the city that included new hotels and homes, downtown changes, the $98 million settlement with 3M Co., the COVID-19 pandemic, and major updates to parks and recreation facilities. Bowling took a moment in the breakfast before over 300 people at the Doubletree by Hilton Decatur Riverfront to apologize for refusing to attend last year's State of the City. He chose not to attend because of a disagreement over the presentation and Council President Jacob Ladner's participation. "Last year I made a bad decision," Bowling said. "While I didn't like what was being done, I didn't handle it properly, and I did not come and do one of my duties in providing a State of the City and, for that, to the chamber and the chamber members, I'm very sorry." Bowling said his first budget in fiscal 2016 was $58.2 million, and then he showed how it grew yearly to $98.4 million in fiscal 2025. "Next year, I think we'll say triple digits as we go into the (fiscal) 2026 budget," the mayor said. He pointed out that the city celebrated its 200th anniversary in 2020, so it took 100 years to reach $58.2 million. "It's incredible that, even though we're conservative with our spending, that the budget increase has almost doubled," Bowling said. He attributed the burgeoning budget to multiple factors, including benefiting from north Alabama's growth with the new Mazda Toyota Manufacturing plant and Federal Bureau of Investigation office in Huntsville. Among the other factors were the Decatur-Morgan County's job growth, hiring a chief financial officer, "flat budgeting" and jumpstarting the city's residential growth, which he attributed to a chamber initiative launched in 2018. Walton Ashwander, of Rogers Group, is a Decatur native whose company now does a lot of work for the city, including handling its annual paving contract. He said after the meeting that the city's budget growth was the thing that stood out in the mayor's presentation. "That budget growth is phenomenal," Ashwander said. "It's great that money grew that quickly. It must be a massive undertaking to deal with that kind of money." Bowling said after the meeting that he considers two intertwined issues the proudest points in his service as mayor. The first is the $98 million environmental settlement with 3M, which he said will actually grow because 3M "is spending a lot of money on cleaning up our landfill." He said the second is the $35 million bond issue allowing the city to build major upgrades to parks and recreation facilities. The city is building indoor tennis and pickleball courts for $2.5 million, turning the Point Mallard Ice Complex into an event center for $3.5 million, building an eight-field ball field complex for $17 million and, finally, building a $52.5 million recreation center at Wilson Morgan Park. Bowling said the City Council "wanted to return to a time when Decatur was known for its recreation." Even though he has six months left as mayor, he pointed out there's still a lot of work to be done. The City Council is in the process of filling multiple director openings in Planning, Parks and Recreation, Youth Services and searching for a new police chief. "We have so many projects, and we're short staffed," Bowling said. "It will be all hands on deck, especially since there will be more projects announced soon." Bowling said they're still working on getting $4 million to $5 million for a second study for another Tennessee River bridge. He said this study will look at which routes are environmentally feasible. It will also eliminate the routes that don't create an additional pathway around Alabama 20/U.S. 31. Decatur paid $1 million and also received a $1 million federal grant from the Appalachian Regional Commission for the first phase of the study. The city recently paid $450,000 for 0.2 of an acre at Alabama 67 and Upper River Road for right of way for intersection improvements. Hwy. 67 Used Furniture and Appliances was in this building, but Bowling said the city will demolish "the old block building any day now, and then the next phase can begin." Bowling said the new Renasant Bank is a great new part of the gateway into Sixth Avenue Southeast, and the city will start soon on the Sixth Avenue streetscape project between Wilson Street Northeast and Prospect Drive Southeast. He said they've moved most of the utilities underground. "If you see one wire hanging on our telephone poles, the only wires remaining belong to Temple Electric, which controls the traffic signals," Bowling said. The wires will eventually go into cobra traffic lights, which hang from curved poles over the road rather than power lines. "This will be very appealing," Bowling said. Bowling said he has been working with the Tennessee Valley Authority and would still like to see a lodge built at Point Mallard Park north of the event center. — or 256-340-2432
Yahoo
11-04-2025
- Business
- Yahoo
Morgan County Event Center exterior almost finished, interior work progressing
Apr. 11—Construction of the Morgan County Event Center in Cotaco is moving rapidly, with the exterior largely complete except for what can't be built until finishing the the interior — which includes a walking track and two gyms. "It's going to be good for the whole area," said Morgan County Commission Chairman Ray Long. "It's going to be something for all ages to use. It will be available for everybody, not just the east side of the county. We'll use it for ball games, we'll have different events in it. It's something that everybody will be able to enjoy for years to come." The 34,627-square-foot event center will be located on 24 acres at Luker Road and Union Hill Road, across the street from the District 4 shop in Cotaco. Greg Abercrombie, Morgan County District 4 commissioner, said that about 20 months ago, the county used 3M Co. settlement money to purchase the land for about $180,000. The Morgan County Commission approved about a $7.16 million bid for the event center in April 2024. The county will spend about $2 million from the 3M settlement money and about $5 million from American Rescue Plan Act funds. "Joe Wheeler (EMC) contractors were out there (Tuesday) putting up power lines," Abercrombie said. Abercrombie said the HVAC system has been installed. He said they will need to turn on the air conditioning several weeks before the center opens. "The wood, when they bring it in, it's still in the pallets," he said. "The room has to be the temperature of what we're basically going to keep it once we open them up. So, it has to acclimate to that room temperature for a minimum of a month. That's when they can actually take the wood out of the pallets and begin putting it down on the floor." Abercrombie said the wood will warp if it does not become acclimated to the room temperature. "They want it to stay in the same temperature so it will stay its normal size and not expand and contract," he said. "We need the floor to be smooth." There will be two gymnasiums. The upstairs concrete walking track has already been poured, Abercrombie said. He said the fire alarm and sprinkler systems have also been installed and so have some of the lights in one gymnasium. "Right now, we've been in the process of ordering bleachers and the pads that go on the ends of the walls on the basketball courts," Abercrombie said. Abercrombie said the exterior is almost complete. He said they are finishing bricking the front of the center. "Where the front doors are, they've still got that completely out," he said. "Still having to go back and forth in with a mechanical lift. They can't seal that up yet." The sidewalks are poured on three sides, Abercrombie said. They have not built the sidewalk in front of the center yet due to the lift going in and out of the building. The gutters could be installed this week. "It's really changing right now," Abercrombie said. At Tuesday's commission meeting, the commission approved putting out a bid request for the construction of an onsite sewer system for the center. "For my area, we've never had anything like this, ever, in our district," Abercrombie said. "In my area, I think it's going to bring the communities out that way to one facility to use." Abercrombie said they do not have a date set for when the center will open. "It's probably like any other entity being built like this, everything seems like it's going great in a timely manner, but now and then there will be an item that has been ordered but hasn't come in," he said. With that caveat, Abercrombie said he hopes it will be complete by the first of next year or sooner. Long said he would like to have more event centers across the county eventually. "But funding has a lot to do with that," he said. "Eventually we'd like to have a few more gyms scattered around the county. But we don't have a time frame because money is always the key. Right now, we don't know what's going to happen with the economy — a lot going on." — or 256-340-2460.
Yahoo
20-03-2025
- Business
- Yahoo
3M donates $215,000 to Decatur City Schools
Mar. 19—3M Co. donated $215,000 to Decatur City Schools during the 3M STEM and Skilled Trades event at the Career Academies of Decatur on Monday. The funding includes $100,000 for CAD's industrial maintenance program, $80,000 for districtwide after-school tutoring and food security assistance programs, $20,000 for classroom resources and $15,000 for the Decatur City Schools Foundation.
Yahoo
08-03-2025
- General
- Yahoo
Stillwater: PFAS water treatment open house set for March 17
Crews in Stillwater will begin construction later this year on a temporary facility to treat water from city wells to meet PFAS standards. The facility, which will be located adjacent to Well No. 10 near Benson Park, is expected to be in operation until a permanent water treatment plant is built. The facility will use granular-activated carbon to treat water. The city secured a $3 million grant from the Public Facilities Authority for construction of the temporary water treatment facility, said City Administrator Joe Kohlmann. Construction will begin as soon as possible with an anticipated 2026 operational date, he said. Per- and polyfluoroalkyl substances (PFAS) were found to have contaminated drinking water supplies in parts of the eastern Twin Cities, including in Stillwater's groundwater supply. Two wells in the city – Well No. 6 and Well No. 10 – were found to contain PFAS at levels above health-based guidance values for drinking water. An additional well, Well No. 9, contains PFAS at levels just below these standards. All three wells are currently inactive and are not providing water for the community, Kohlmann said. A temporary treatment facility at Well No. 10 will ensure the well 'can safely be put back into service to meet drinking-water standards,' he said. PFAS contamination was first measured in the east metro in the early 2000s. Maplewood-based 3M Co. began making PFAS at a facility in Cottage Grove in the 1940s and historically disposed of PFAS wastes in four east-metro locations, the source of identified PFAS impacts in Washington County groundwater. An open house on the project will be 5:30 to 7:30 p.m. March 17 at Stillwater City Hall. For more information, go to Environment | Stillwater school district restricts access to LGBTQ+ children's books Environment | 'You were willing to risk your life to maintain our freedom.' Cottage Grove World War II veteran honored for service Environment | Louise Hinz appointed to South Washington County School board Environment | Woodbury man sentenced for string of Washington County bank robberies Environment | State hockey: Stillwater is back in the tournament, led by a deep, talented crop of seniors
