Date: August 27, 2003
Source: News Room
A federal court has ruled against W.R. Grace & Co. (NYSE: GRA) in a dispute over asbestos cleanup costs at a mining site near Libby, Mont. The court has ordered the company to pay $54.5 million, the largest fine ever in a Superfund lawsuit. The money will be used to help with cleanup costs at Grace's former vermiculite mining and processing activities. The court also held Grace responsible for paying the EPA's future costs to clean up hundreds of properties contaminated by the company's operations and screen the health of residents. EPA officials have said Grace's bill could eventually reach $110 million.
More information: www.grace.com.
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