$4 billon settlement to protect Chemours, DuPont, Corteva against legacy PFAS liabilities
February 13, 2021
Read the full article by Alan Wooten (Bladen Journal)
Two companies with plants in Bladen County and a third barely more than a year old have resolved their legal disputes in a $4 billion settlement.
DuPont, Chemours and Corteva reached the agreement in 2020 and made the announcement three weeks into the new year. It attempts to protect all three against “potential legacy PFAS liabilities,” a joint statement from the three CEOs says.
“The agreement will provide a measure of security and certainty for each company and our respective shareholders using a transparent process to address and resolve any potential future legacy PFAS matters,” said Ed Breen, DuPont chairman and CEO; Jim Collins, Corteva CEO; and Mark Vergnano, Chemours president and CEO.
PFAS is an acronym for per- and polyfluoroalkyl substances, a group of chemicals known as “forever chemicals” that have been in use for decades. The compounds have been used to make consumer products like cookware, food packaging and stain repellents.