08:09 AM EDT, 04/01/2024 (MT Newswires) -- Solventum ( SOLV ) said Monday that it has completed its spin-off from 3M (MMM) and will begin trading on the New York Stock Exchange under the ticker symbol "SOLV."

Previously 3M's healthcare division, the company generated $8.2 million in 2023 sales. Chief executive officer Bryan Hanson will ring the opening bell at the New York Stock Exchange on Wednesday.

3M retains about 20% of Solventum's ( SOLV ) shares, which will be monetized over the coming five years, 3M said in a separate statement.

Also on Monday, 3M said a court had approved its settlement of up to $12.5 billion with US public water companies over claims that its industrial activities polluted drinking water.

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