NCR Enters into Consent Decree to Resolve Claims and Assume Certain Remediation Work in Kalamazoo River Environmental Matter

NCR Corporation (NYSE: NCR) is pleased to announce the resolution of the Michigan Kalamazoo River environmental cleanup and related Superfund litigation by entering in to a definitive consent decree with the United States Government and the State of Michigan,

Benzinga · 12/12/2019 01:42

NCR Corporation (NYSE: NCR) is pleased to announce the resolution of the Michigan Kalamazoo River environmental cleanup and related Superfund litigation by entering in to a definitive consent decree with the United States Government and the State of Michigan, under which the company expects to conclude the longstanding matter. The decree is subject to court approval.

Upon approval by the court, the decree will bring to an end a set of complex litigations that commenced in 2010. In particular the settlement will provide contribution protection to NCR that will foreclose Superfund litigation claims brought against it by the other companies that themselves had contributed to the pollution of the river. Those other companies will bear sole and/or primary responsibility for aspects of the remediation work not being assumed by NCR.

The cleanup work is expected to be performed over the next 20 years. NCR will seek significant contribution from NCR's indemnitors as it has in the past for other projects.

The resolution includes NCR's commitment to undertake or fund clean-up of certain parts of the river that were contaminated with PCBs in the 1950s through the 1970s, primarily from so-called carbonless copy paper (CCP) "broke" or remnants. NCR never had a facility on the river and did not dispose of PCB-containing products into it, and ceased use of PCBs in 1971, several years before the Government banned the product.

NCR is happy to have this matter resolved (upon approval) and to avoid the significant cost associated with the litigation of this matter.