The resolution includes NCR’s commitments to complete the in-river cleanup work designed to remove polychlorinated biphenyls (PCBs) from the river, and to drop a potential legal appeal. It also incorporates elimination of Superfund claims brought against the Company by other parties, discontinuation of the Company’s own such claims and assignments of responsibility for closing out certain final costs.
With the contributions of its former corporate parents and affiliates
from the past several decades, NCR has successfully performed the
overwhelming majority of the cleanup work to date. NCR is the only
company to have consistently been involved in that work from its start
in 2009 to the present. Several other parties that had failed to
participate in the work have recently entered into their own
settlements, which included financial contributions applied toward
remediation expenses. The remainder of the cleanup work is expected to
be completed over 2017 and 2018. The remediation project, covering 29
miles of the Fox River, is the single largest sediment cleanup project
to date in
“NCR is pleased with the successful resolution of this matter pending
the court’s approval, following nine years of complex and protracted
litigation involving multiple trials and appeals,” said
NCR will agree not to appeal a key decision on which it had previously prevailed, relating to calculation of harm and responsibility at Superfund locations. This eliminates a key litigation risk for the Government.
Upon approval by the court, the decree is expected to bring to an end a set of complex litigations that commenced in 2008. In particular the settlement will provide contribution protection to NCR that will foreclose Superfund litigation claims brought against it by other companies that had contributed to the pollution of the river. NCR is, at the governments’ request, conditionally relinquishing its own affirmative claims for recovery against the same parties. This presumptive end to the litigation removes a substantial part of NCR’s Fox River risks and renders its remaining responsibility readily measurable, and it helps enable NCR’s commitment to complete the cleanup alone.
The settlement also includes arrangements under which other companies that had contributed to the river’s pollution will bear primary responsibility for certain government costs, and for long-term monitoring and maintenance of the remediation work.
The settlement will be funded internally by a non-material increment of
approximately
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Source:
NCR Corporation
Scott Sykes, 212-589-8428
scott.sykes@ncr.com