Tuesday, December 30, 2014

DuPont spinoff of Chemours also cuts away cleanup bills

DuPont Co. will shed nearly $300 million worth of environmental remediation baggage along with some of its most volatile and competitive-industry business units when it spins three major business segments off
as Chemours Co., Delawareonline reports.
"The cleanup bill, including some involving local sites, could push much higher, a Securities and Exchange Commission information statement on the breakup added, 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 purchase obligations, according to a company filing. Legal settlements accounted for another $89 million in current and future debts.

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