The Chemours Company, DuPont de Nemours, Inc., and Corteva, Inc. announced an agreement to settle all pending environmental and related claims by the State of New Jersey concerning legacy contamination and statewide PFAS issues. The settlement covers the companies’ current and former operating sites—Chambers Works, Parlin, Pompton Lakes, and Repauno—as well as PFAS contamination unrelated to these sites, including the use of aqueous film forming foam (AFFF).
Under the agreement, the companies will pay a total of $875 million over 25 years, beginning within 30 days after the entry of a Judicial Consent Order (JCO), which will occur no earlier than January 1, 2026. Of the total, $16.5 million is allocated to alleged PFAS contamination unrelated to company sites, including $4.125 million for AFFF-related claims. The pre-tax present value of the settlement is about $500 million.
Payment responsibilities will follow the January 2021 Memorandum of Understanding: Chemours will cover 50% (approximately $250 million on a present value basis), DuPont 35.5% (about $177 million), and Corteva 14.5% (about $72 million). The settlement also establishes a Remediation Funding Source (RFS) for the four sites, secured by a surety bond or similar instrument, and a Reserve Fund of up to $475 million, shared by DuPont and Corteva, to provide additional financial security.
Additionally, upon court approval of the JCO, DuPont and Corteva will purchase Chemours’ rights to certain PFAS-related insurance proceeds for $150 million. After they recover this amount plus a fee, Chemours will receive 50% of any further insurance recoveries.
The proposed JCO is subject to public notice, comment under New Jersey law, and final court approval.
