MOSCOW (MRC) -- DuPont and Chemours
will each pay USD335.35 million in cash in personal injury claims to settle
3,550 lawsuits related to perfluorooctanoic acid (PFOA) environmental releases
from the Washington Works plant in West Virginia, DuPont has announced.
The settlement agreement is subject to the receipt of releases or
dismissals, as applicable, from individual plaintiffs, among other conditions.
The companies and plaintiffs' attorneys in the Ohio multi-district litigation
(MDL) have jointly agreed to a settlement. The two companies have denied any
wrongdoing. The settlement encompasses all claims pending in the MDL, including
those matters for which jury verdicts have been rendered, DuPont says. DuPont
discontinued PFOA operations at the plant more than a decade
Chemours and DuPont have agreed that, for a period of five years,
Chemours will annually pay PFOA liabilities outside the settlement up to USD25
million. DuPont will cover liabilities in excess of these USD25 million up to
the next USD25 million, with Chemours annually paying any further excess
liabilities. This measure has been established to address potential PFOA
liabilities that could arise, DuPont adds.
After the five-year period,
DuPont has no commitment to fund further PFOA costs, but Chemours'
indemnification obligations remain unchanged, DuPont adds. DuPont spun off
Chemours in 2015.
Chemours has also agreed that once the settlement
becomes effective, it will not contest its liability to DuPont under the
separation agreement for PFOA. This includes costs that relate to punitive
damages, fines, or penalties or attorneys' fees. Chemours has retained defenses
as to whether any particular PFOA claim is within the scope of the
indemnification provisions of the separation agreement, DuPont says.
previously, Chemours Co., the company to be created by the spinoff of
Dupont's Performance Chemicals unit, has named the eight members of its board of
DuPont is an American chemical company that was founded in
July, 1802. The company manufactures a wide range of chemical products, leading
extensive innovative research in this field. The company is the inventor of many
unique plastics and other materials, including neoprene, nylon, Teflon, Kevlar,
Mylar, Tyvek, etc. DuPont was the developer and main producer of Freon used in
the production of refrigeration equipment.