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Chemours says DuPont lowballed environmental liabilities

Chemours says DuPont lowballed environmental liabilities

DOVER, Del. (AP) — Chemical manufacturer Chemours says the DuPont Co. massively downplayed the cost of environmental liabilities that Chemours would be saddled with when it was spun off from DuPont in 2015.

A lawsuit unsealed Friday says the maximum liability exposure figures that DuPont certified prior to the spinoff have proven to be "systematically and spectacularly wrong."

Chemours notes as an example that it faces more than $200 million in costs to address environmental issues at a North Carolina manufacturing facility, 100 times DuPont's estimated $2 million maximum liability. Chemours also says potential environmental liabilities in New Jersey far exceed the $337 million cited by DuPont at the time of the spinoff.

DuPont has filed a motion to dismiss the lawsuit, saying any disputes arising from the spinoff must be resolved through private arbitration.

Updated : 2021-05-08 06:27 GMT+08:00