WILMINGTON, Del., Nov. 29, 2023 /PRNewswire/ -- DuPont de Nemours,
Inc. ("DuPont") (NYSE: DD) today announced that DuPont, The
Chemours Company (NYSE: CC) and Corteva, Inc. (NYSE:
CTVA) (the "Companies") reached a settlement agreement with
The State of Ohio designed to
benefit Ohio's natural resources
and the people of the State of
Ohio.
As part of the settlement, the Companies agreed to pay the
State of Ohio a combined total of
$110 million, 80 percent of which the
State has allocated to restoration of natural resources related to
operation of the Washington Works facility. Consistent with the
binding Memorandum of Understanding between the Companies reached
in January 2021, DuPont's share of
the settlement will be approximately $39
million.
Among other things, and subject to certain limitations and
preservations, the settlement resolves the State's claims relating
to releases of per- and polyfluoroalkyl substances (generically
referred to as "PFAS") in or into the State from the Companies'
facilities and claims relating to the manufacture and sale of
PFAS-containing products. The settlement also resolves the State's
claims related to aqueous film-forming foam ("AFFF").
About DuPont
DuPont (NYSE: DD) is a global innovation leader with
technology-based materials and solutions that help transform
industries and everyday life. Our employees apply diverse science
and expertise to help customers advance their best ideas and
deliver essential innovations in key markets including electronics,
transportation, construction, water, healthcare and worker safety.
More information about the company, its businesses and solutions
can be found at www.dupont.com. Investors can access information
included on the Investor Relations section of the website at
investors.dupont.com.
DuPont™, the DuPont Oval Logo, and all trademarks and service
marks denoted with ™, SM or ® are
owned by affiliates of DuPont de Nemours, Inc. unless otherwise
noted.
Cautionary Statement Regarding Forward Looking
Statements
This communication contains "forward-looking
statements" within the meaning of the federal securities laws,
including Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
In this context, forward-looking statements often address expected
future business and financial performance and financial condition,
and often contain words such as "expect," "anticipate," "intend,"
"plan," "believe," "seek," "see," "will," "would," "target," and
similar expressions and variations or negatives of these words.
Forward-looking statements address matters that are, to varying
degrees, uncertain and subject to risks, uncertainties, and
assumptions, many of which that are beyond DuPont's control, that
could cause actual results to differ materially from those
expressed in any forward-looking statements. Forward-looking
statements are not guarantees of future results. Some of the
important factors that could cause DuPont's actual results to
differ materially from those projected in any such forward-looking
statements include, but are not limited to: (i) risks and
uncertainties related to the settlement agreement concerning PFAS
liabilities reached June 2023 with
plaintiff water utilities by Chemours, Corteva, EIDP and DuPont,
including timing of court approval and the level of opt-outs
from the settlement; (ii) risks and costs related to each of the
parties respective performance under and the impact of the
arrangement to share future eligible PFAS costs by and between
DuPont, Corteva and Chemours, including the outcome of any pending
or future litigation related to PFAS or PFOA, including personal
injury claims and natural resource damages claims; the extent and
cost of ongoing remediation obligations and potential future
remediation obligations; changes in laws and regulations applicable
to PFAS chemicals; (iii) ability to achieve anticipated tax
treatments in connection with mergers, acquisitions, divestitures
and other portfolio changes actions and impact of changes in
relevant tax and other laws; (iv) indemnification of certain legacy
liabilities; (v) failure to timely close on anticipated terms
(or at all), realize expected benefits and effectively manage and
achieve anticipated synergies and operational efficiencies in
connection with mergers, acquisitions, divestitures and other
portfolio management, productivity and infrastructure actions; (vi)
risks and uncertainties, including increased costs and the ability
to obtain raw materials and meet customer needs from, among
other events, pandemics and responsive actions; timing and recovery
from demand declines in consumer-facing markets, including in
China; adverse changes in
worldwide economic, political, regulatory, international trade,
geopolitical, capital markets and other external conditions; and
other factors beyond the Company's control, including inflation,
recession, military conflicts, natural and other disasters or
weather related events, that impact the operations of the Company,
its customers and/or suppliers; (vii) ability to offset increases
in cost of inputs, including raw materials, energy and logistics;
(viii) risks associated with demand and market conditions in the
semiconductor industry and associated end markets, including from
continuing or expanding trade disputes or restrictions, including
on exports to China of
U.S.-regulated products and technology; (ix) risks, including
ability to achieve, and costs associated with DuPont's
sustainability strategy including the actual conduct of the
company's activities and results thereof, and the development,
implementation, achievement or continuation of any goal, program,
policy or initiative discussed or expected; and (x) other risks to
DuPont's business, operations; each as further discussed in
DuPont's most recent annual report and subsequent current and
periodic reports filed with the U.S. Securities and Exchange
Commission. Unlisted factors may present significant additional
obstacles to the realization of forward-looking statements.
Consequences of material differences in results as compared with
those anticipated in the forward-looking statements could include,
among other things, business or supply chain disruption,
operational problems, financial loss, legal liability to third
parties and similar risks, any of which could have a material
adverse effect on DuPont's consolidated financial condition,
results of operations, credit rating or liquidity. You should not
place undue reliance on forward-looking statements, which speak
only as of the date they are made. DuPont assumes no obligation to
publicly provide revisions or updates to any forward-looking
statements whether as a result of new information, future
developments or otherwise, should circumstances change, except as
otherwise required by securities and other applicable laws.
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SOURCE DuPont