Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Thursday, August 29, 2024
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

DuPont and two spin-off firms will pay Ohio $110 million

November 30, 2023
in Business
Reading Time: 2 mins read
A A
DuPont and two spin-off firms will pay Ohio 0 million
0
SHARES
ShareShareShareShareShare

DuPont and two spin-off firms will pay Ohio $110 million

The DuPont Co. and two spin-off firms will pay $110 million to the state of Ohio to settle a lawsuit over environmental threats from toxic chemicals used at a former DuPont facility in neighboring West Virginia, the companies said Wednesday.

READ ALSO

Temu founder Colin Huang is no longer China’s richest man

Big Tech wants to keep stealing patents—so it’s going to war with Big Pharma

The settlement involving DuPont, the Chemours Co. and Corteva Inc. resolves Ohio’s claims relating to releases of manmade, fluorinated compounds known as PFAS. It also resolves claims relating to the manufacture and sale of PFAS-containing products and claims related to firefighting foam containing PFAS.

The compounds, which are associated with an increased risk of certain cancers and other health problems, are often referred to as “forever chemicals” because of their longevity in the environment. They have been used in the production of nonstick coatings such as Teflon, firefighting foam, water- and stain-resistant textiles, food packaging and many other household and personal items.

According to the companies, Ohio will allocate 80% of the settlement to the restoration of natural resources related to the operation of the Washington Works facility near Parkersburg, West Virginia, on the eastern shore of the Ohio River. The other 20% will be used to address PFAS claims statewide, including the use of firefighting foam. The settlement is subject to court approval.

Under a 2021 agreement with the state of Delaware, the Ohio settlement means the companies also are obligated to pay $25 million to Delaware for environmental initiatives. As part of the 2021 settlement, the companies agreed to pay $50 million to Delaware and to fund up to an additional $25 million if they settled similar claims with other states for more than $50 million.

Ohio began litigation against DuPont and Chemours in February 2018 regarding historical emissions of perfluorooctanoic acid, known as PFOA, from the Washington Works site. PFOA was once widely used in a variety of products, including nonstick cookware. Ohio alleged damage to natural resources from the use of the compound, and impropriety in the 2015 spinoff by DuPont that created Chemours.

DuPont will contribute about $39 million to the settlement. Chemours, the former performance chemicals unit of DuPont, will pay about $55 million, with the rest owed by Corteva. Chemours was spun off as a stand-alone company in 2015. Corteva, the former agriculture division of DowDuPont, became a separate company in 2019.

Under a 2021 cost-sharing arrangement that resolved legal disputes over PFAS liabilities arising out of pre-2015 conduct, DuPont and Corteva, on one hand, and Chemours, on the other, agreed to a 50-50 split of certain expenses incurred over a term of up to 20 years, or an aggregate $4 billion.

DuPont began using PFOA in products at the Washington Works facility in the 1950s. Chemical releases from the site have been blamed for a variety of health problems among local residents and have resulted in multiple lawsuits.

In April, the U.S. Environmental Protection Agency ordered Chemours to address PFAS pollution in stormwater and effluent from the Washington Works facility. The EPA said it was the first Clean Water Act enforcement action to hold polluters accountable for discharging PFAS into the environment.

According to the EPA, PFAS levels in the discharges from Washington Works have exceeded levels set in the facility’s Clean Water Act permit.

Subscribe to the CFO Daily newsletter to keep up with the trends, issues, and executives shaping corporate finance. Sign up for free.

Credit: Source link

ShareTweetSendSharePin
Previous Post

Australia walks tight rope on trade with China as security concerns mount

Next Post

The Morning After: Google plans to delete your old inactive accounts starting tomorrow

Related Posts

Temu founder Colin Huang is no longer China’s richest man
Business

Temu founder Colin Huang is no longer China’s richest man

August 28, 2024
Big Tech wants to keep stealing patents—so it’s going to war with Big Pharma
Business

Big Tech wants to keep stealing patents—so it’s going to war with Big Pharma

August 28, 2024
Lego has a historic half-year launching 300 new sets, opening 41 stores
Business

Lego has a historic half-year launching 300 new sets, opening 41 stores

August 28, 2024
What does Pavel Durov’s arrest mean for his tech legacy?
Business

What does Pavel Durov’s arrest mean for his tech legacy?

August 28, 2024
Lowe’s followed Tractor Supply, Harley Davidson and John Deere in backing off DEI initiatives
Business

Lowe’s followed Tractor Supply, Harley Davidson and John Deere in backing off DEI initiatives

August 28, 2024
Gen Z tackles frustrating job market
Business

Gen Z tackles frustrating job market

August 28, 2024
Next Post
The Morning After: Google plans to delete your old inactive accounts starting tomorrow

The Morning After: Google plans to delete your old inactive accounts starting tomorrow

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

1-in-5 Americans have medical debt

1-in-5 Americans have medical debt

August 12, 2024
Canada Goose CEO isn’t worried about expanding to homeware

Canada Goose CEO isn’t worried about expanding to homeware

August 10, 2024
NY Liberty mascot Ellie has two stylists, big brands dressing her

NY Liberty mascot Ellie has two stylists, big brands dressing her

August 27, 2024
NASA, ISS National Lab announces solicitation for space health technology

NASA, ISS National Lab announces solicitation for space health technology

August 19, 2024
This Anker 3-in-1 MagSafe charging station is cheaper than ever right now

This Anker 3-in-1 MagSafe charging station is cheaper than ever right now

August 12, 2024
Sonos, still trying to fix its broken app, lays off 100 employees

Sonos, still trying to fix its broken app, lays off 100 employees

August 15, 2024
Surprise dip in U.K. unemployment combined with rising GDP signals strengthening economy—unlike the U.S.

Surprise dip in U.K. unemployment combined with rising GDP signals strengthening economy—unlike the U.S.

August 13, 2024

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Homeward appoints first chief medical officer and more digital health hires
  • Xbox’s streaming app is coming to more Fire TV devices
  • Jets add Brenden Bates, lose Shemar Bartholomew in waiver moves
  • Temu founder Colin Huang is no longer China’s richest man

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In