Chemours, DuPont and Corteva agree to a $455 million PFAS settlement

Chemours ($CC), DuPont ($DD) and Corteva ($CTVA) reached an agreement to resolve PFAS-related claims brought by North Carolina and 11 local government entities. The settlement provides for $455 million in nominal payments over 15 years. Chemours will bear half of the total, with DuPont and Corteva responsible for the remaining half under their existing allocation arrangements.

Chemours estimated the present value of its share at approximately $180 million and said that amount is covered by existing accruals. Its expected cash payments over the next 12 months are $50 million. The agreement addresses the specified North Carolina claims, including matters connected with Fayetteville Works; it is not a global resolution of every PFAS liability. Obligations under the existing consent order remain in place, and the settlement requires the relevant claims to be dismissed.

Sources:

• Chemours — joint settlement announcement