Date: September 15, 2004
Source: News Room
W.R. Grace & Co. has settled its litigation with Honeywell International over contamination of Grace-owned property in Jersey City, N.J. Grace will transfer the 32-acre property to Honeywell for full indemnification and $62.5 million. The property was acquired by a Grace subsidiary in 1981 and tainted with approximately 1.5 million tons of chromium from a facility owned by a Honeywell predecessor. Grace sued Honeywell in federal court and for an injunction ordering Honeywell to remove the chrome waste and backfill with clean fill.
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