As the Coronavirus Pandemic Spreads 3M Rushes to Make Face Masks

Face masks have become exceedingly important during the coronavirus outbreak, especially for medical workers who are fighting the virus at the forefront.

US industrial giant 3M, who also makes Post-It notes and Scotch Tape, is trying to meet the demand for face masks as the coronavirus spreads. The company is known for producing face masks and is one of the world’s largest manufacturers of N95 filtering face masks.

The N95 masks in particular have been in high demand in the U.S. and around the world since the coronavirus outbreak began. These masks can filter out 95% of large and small particles, including certain types of bacteria.

At the beginning of the month, officials from the U.S. Department of Health and Human Services said the country had only about 35 million of the 3.5 billion N95 respirators needed in the event of a full-blown pandemic.

3M has doubled global production to 1.1 billion per year from about 400 million per year, and said in late March it plans to double production again to 2 billion within 12 months.

The company has faced criticism for not keeping its face mask prices in check. According to a Bloomberg report, billionaire and NBA team owner Mark Cuban has said he has been approached by middlemen offering 3M masks “at premium prices from $4 to $8, million-dollar minimum orders.” At the start of the year, masks were selling for about $1.25 apiece.

According to Cuban, 3M could do more about pressuring its distributors.

Disclaimer: We have no position in 3M Co. (NYSE: MMM) and have not been compensated for this article.