8-KRegulation FDExhibits & Filings

EIDP, Inc. 8-K Report, Regulation FD Disclosure (Dec 14, 2005)

Filed December 14, 2005For Securities:CTA-PBCTA-PA

Summary

This Form 8-K filing by E. I. du Pont de Nemours and Company (DuPont) announces a settlement with the U.S. Environmental Protection Agency (EPA) regarding reporting violations related to perfluorooctanoic acid (PFOA). The settlement resolves counts under the Toxic Substances Control Act and the Resource Conservation and Recovery Act, with one violation dating back to the 1980s. Importantly, DuPont states the agreement is reached without any admission of liability, highlighting a difference in interpretation of reporting requirements between the company and the agency. The financial implications of this settlement include a payment of $10.25 million in fines and an additional $6.25 million for two supplemental environmental projects. These projects focus on research into fluorotelomer biodegradation and promoting microchemistry and green chemistry programs in West Virginia schools. DuPont also noted that they had previously established a $15 million reserve for this matter. The company emphasized its commitment to environmental stewardship, having already reduced PFOA emissions from U.S. plant sites by 98% and targeting a 99% reduction by 2007.

Key Highlights

  • 1DuPont has reached a settlement with the U.S. EPA concerning PFOA reporting violations.
  • 2The settlement resolves four counts of reporting violations filed in 2004 and four raised in 2005, with one dating back to the 1980s.
  • 3DuPont made no admission of liability in reaching the settlement.
  • 4The company will pay $10.25 million in fines and $6.25 million for supplemental environmental projects.
  • 5Supplemental environmental projects include research into fluorotelomer biodegradation and green chemistry education programs.
  • 6DuPont has voluntarily reduced PFOA emissions from U.S. plant sites by 98% and aims for a 99% reduction by 2007.
  • 7DuPont continues to support and participate in the EPA's ongoing risk assessment for PFOA.

Frequently Asked Questions

The settlement resolves alleged reporting violations under the Toxic Substances Control Act and the Resource Conservation and Recovery Act related to the chemical compound perfluorooctanoic acid (PFOA). These violations spanned several years, with one dating back to the 1980s.

DuPont will pay a total of $16.5 million, comprising $10.25 million in fines and $6.25 million allocated to two supplemental environmental projects. The company had previously set aside a reserve of $15 million for this matter.

No, DuPont explicitly stated that the settlement closes the matter without any admission of liability. The company indicated that its interpretation of the reporting requirements differed from the EPA's.

DuPont has made significant strides in reducing PFOA emissions, achieving a 98% reduction from its U.S. plant sites. The company is committed to further reducing these emissions by 99% by the year 2007.