IHS Chemical Week

LyondellBasell to Pay $162 Million to Settle Environmental Claims

2:15 PM MDT | April 13, 2010 | Vincent Valk

LyondellBasell recently reached a settlement with the U.S. government where the company will pay $162 million to fund remediation of hazardous waste sites. The agreement settles $5.5 billion in environmental claims against the bankrupt company. About $108.4 million of the settlement money will be paid into a trust to fund the cleanup of nine polluted properties in Michigan, Pennsylvania, California, North Carolina, Illinois, Maryland and Texas. And about $53.7 million will go to the U.S. government to fund cleanup of several Superfund sites, in Michigan...

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