Chemours agrees $455 million PFAS settlement
- Chemours (NYSE:CC), DuPont, and Corteva agreed to a $455 million settlement resolving PFAS-related claims in North Carolina.
- Chemours expects its share of payments to be about $180 million on a net present value basis.
- The agreement resolves claims linked to Fayetteville Works and other alleged PFAS contamination matters.
Chemours (NYSE:CC), DuPont, and Corteva agreed to a $455 million settlement with North Carolina and 11 local entities to resolve PFAS-related litigation and historical discharge claims.
The settlement covers claims connected to the Fayetteville Works facility and alleged PFAS contamination unrelated to that site, including claims involving aqueous film-forming foam use.
Payments will be made over 15 years beginning within 30 days of execution, with Chemours responsible for 50% of payments under a 2021 memorandum of understanding, representing an estimated $180 million net present value.
Chemours said its existing accruals are expected to cover its share of the settlement, with approximately $50 million expected to be paid over the next 12 months.
The agreement also satisfies future contributions to the MOU escrow, including a previously scheduled $50 million payment due in September 2026, and provides credit for approximately $210 million of qualified spending.
