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Chemours, DuPont and Corteva Reach Agreement with the State of New Jersey to Comprehensively Resolve All Environmental Claims Including PFAS
Resolves all environmental claims, including those related to PFAS, across four current and forme...
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[{"type":"text","content":"Chemours, DuPont and Corteva Reach Agreement with the State of New Jersey to Comprehensively Resolve All Environmental Claims Including PFAS\n\n\n .bwlistdisc { list-style-type: disc }\n \n\n\n\n\n Resolves all environmental claims, including those related to PFAS, across four current and former operating sites and all statewide PFAS claims, including those related to aqueous film forming foam (“AFFF”).\n \n\n\n\n Settlement payments over 25 years, with pre-tax net present value of approximately $500 million to be shared by the parties in accordance with existing cost sharing arrangements.\n \n\n\n\n Remediation for operations at current and former operating sites will continue in accordance with existing legal requirements.\n \n\n\n\n DuPont and Corteva to acquire Chemours’ rights to certain insurance proceeds related to PFAS claims for $150 million.\n \n\n\n\n\n The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD), and Corteva, Inc. (NYSE: CTVA) (the “Companies”) today announced a settlement to comprehensively resolve all pending environmental and other claims by the State of New Jersey against the Companies in various litigation matters and other state directives. The Settlement will resolve all legacy contamination claims related to the companies’ current and former operating sites (Chambers Works, Parlin, Pompton Lakes and Repauno) and claims of statewide PFAS contamination unrelated to those sites, including from the use of aqueous film forming foam.\n \n\n This press release features multimedia. View the full release here:\n \n https://www.businesswire.com/news/home/20250804977033/en/\n \n\n\n Settlement payments will total $875 million over a 25-year period beginning within 30 days of the Judicial Consent Order (“JCO”) entry date, which will be no earlier than January 1, 2026. Of the total settlement amount, $16.5 million is attributed to alleged PFAS contamination unrelated to the Companies’ operating sites, including AFFF of $4.125 million. The pre-tax total present value of the settlement payments is about $500 million, based on the discount rate set forth in the JCO for purposes of prepaying settlement amounts.\n \n\n Consistent with the January 2021 Memorandum of Understanding between the parties (“MOU”), Chemours will be res...