(CercleFinance.com) – Solvay announces that its subsidiary Solvay Specialty Polymers USA and the New Jersey State Department of Environmental Protection in the United States (NJDEP) have announced an agreement settling certain disputes related to PFAS (i.e. the eternal pollutants) in New Jersey.
Under the terms of the agreement, Solvay will pay $75 million to NJDEP for natural resource damage (NRD) and $100 million to fund NJDEP’s PFAS-related remediation projects around Solvay’s West Deptford site. .
The settlement includes Solvay’s commitment to complete the rehabilitation work begun in 2013, including water and soil analyzes around the site. Solvay has agreed to set up a financing fund endowed with 214 million dollars.
The agreement, structured in the form of a Court Consent Order, will be presented to the US court for review and approval later this year, following a period of public comment.
‘This agreement does not constitute an acknowledgment of liability,’ says Solvay.
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