Perimeter Solutions’ fire safety business includes two different products: retardants and suppressants. Each product has a different chemical formulation and use case. Retardants are ammonium phosphate and dropped from aircraft ahead of a fire to stop it spreading; suppressants are foams that help firefighters extinguish fires caused by flammable and combustible liquids. Different products, different use cases, and often different customers. 

One similarity between the two product types is that each has ongoing litigation that may impact Perimeter’s long-term earning power. Foams are under pressure from multi-district AFFF litigation in which major defendants 3M and Tyco recently paid out billions whereas the litigation against aerial retardants is more nuanced. 

This research provides an overview of product litigation risks and potential new entrants against PRMs aerial retardant cash cow. 

AFFF Class B Foams