Brief: Solvay: settles claims with New Jersey Department of Environmental Protection

Solvac SA

28/06/2023 16:46

June 28 (Reuters) - Solvay  SOLB.BR :
    * SOLVAY WILL PAY $75 MILLION TO NJDEP FOR NATURAL RESOURCE
DAMAGES (NRDS) AND $100 MILLION TO FUND NJDEP PFAS REMEDIATION
PROJECTS IN AREAS OF NEW JERSEY NEAR COMPANY'S WEST DEPTFORD
SITE.
    * SOLVAY WILL INCREASE ITS CURRENT PROVISION BY AROUND $250
MILLION AT END OF Q2 2023, WITH $175 MILLION CASH OUT IN 2024
AND BALANCE OVER A 30 YEAR PERIOD.

Source text for Eikon:  ID:nGNE7q39Y5 
Further company coverage:  SOLB.BR 

 (Reporting by Sudip Kar-Gupta)
 ((sudip.kargupta@thomsonreuters.com;))