DuPont and Chemours have announced that they will agree to pay $670.7 million to settle several lawsuits related to the leak of PFOA, used to make Teflon. The chemical has been linked to cancer and other diseases.
Under the terms of the agreement, DuPont and Chemours will each pay $335.35 million of the $670.70 million global settlement amount.
The settlement encompasses all claims pending in the litigation, including those matters for which jury verdicts have been rendered. DuPont discontinued PFOA operations at that plant more than a decade ago, DuPont said in a press release.
To address potential PFOA liabilities that might arise in the future, Chemours and DuPont have agreed that, for a period of five years, Chemours would annually pay PFOA liabilities outside the settlement up to $25 million and, that if such amount is exceeded, DuPont would pay any excess liabilities up to the next $25 million, with Chemours annually paying any further excess liabilities.