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DuPont Spinoff Cuts $300M Environmental Remediation Costs

DuPont logoDuPont’s new performance chemicals company Chemours will also help DuPont shed about $300 million worth of environmental remediation costs, Delaware Online reports.

Following its separation from DuPont, Chemours will manufacture titanium dioxide, fluoroproducts and other chemicals.

Delaware Online says, according to a Securities and Exchange Commission filing, Chemours’ cleanup bill could exceed $300 million, “with ‘adverse’ circumstances possibly sending the environmental burden above $1 billion.”

More than 21 percent of Chemours’ $1.28 billion in contractual obligations at the end of 2013 involved environmental remediation, second only to raw material purchases.

Earlier this year DuPont agreed to pay $1.275 million as part of a settlement with the federal government for eight alleged releases of harmful levels of hazardous substances at its Belle, W. Va. facility between May 2006 and January 2010.

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One thought on “DuPont Spinoff Cuts $300M Environmental Remediation Costs

  1. Washing of hands goes back to Roman times. This similiar but cynical exercise to protect ‘business as usual’ case has a familiar ring to it. DuPed a new and duplicitious low against corporate governance and transparency.

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