Portland Harbor Superfund Sample Clauses

Portland Harbor Superfund. The Company has been named as one of the potentially responsible parties (“PRPs”) at the Portland Harbor CERCLA site located on the Willamette River in Oregon. The Company currently operates a coal tar pitch terminal near the site. The Company has responded to an EPA information request and has executed a PRP agreement which outlines the process to develop an allocation of past and future costs among more than 80 parties to the site. The Company believes that it is a de minimus contributor at the site. Additionally, a separate natural resources damages assessment (“NRDA”) is being conducted by a local trustee group. The NRDA is intended to identify further information necessary to estimate liabilities for remediation based settlements of national resource damages (“NRD”) claims. The Company may also incur liabilities under the NRD process and has entered into a separate process to develop an allocation of NRD cost. On March 30, 2012, a draft Feasibility Study (“FS”) was submitted to EPA by the Lower Willamette Group (“LWG”), a group of certain PRPs which has been conducting the investigation of the site. The draft FS identifies ten possible remedial alternatives which range in cost from approximately $170 million to $1.8 billion. The FS does not determine who is responsible for remediation costs or select remedies. The FS is under review by the EPA which will issue a final decision on the nature and extent of the final remediation. Responsibility for implementing and funding that work will be decided in a separate allocation process. Other than the estimated costs of participating in the PRP group at the Portland Harbor CERCLA site, the Company has not provided a reserve for this matter because there has not been a determination of the total cost of the investigation, the remediation that will be required, the amount of natural resources damages or how those costs will be allocated among the PRPs. Accordingly, the Company believes that it cannot reasonably determine the probability of a loss, and the amount of loss, if any, cannot be reasonably estimated. An unfavorable resolution of this matter may have a material adverse effect on the Company’s business, financial condition, cash flows and results of operations.
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Portland Harbor Superfund. The Company has been named as one of the potentially responsible parties (“PRPs”) at the Portland Harbor CERCLA site located on the Willamette River in Oregon. The Company formerly operated a coal tar pitch terminal near the site. The Company has responded to an EPA information request and has executed a PRP agreement which outlines the process to develop an allocation of past and future costs among more than 80 parties to the site. The Company believes that it is a de minimus contributor at the site. The USEPA issued the Record of Decision (“ROD”) on the site on January 13, 2017. A subset of the PRP group has reached agreement with USEPA to conduct sampling in the Willamette River to update the database for the site and collect information to support design of the remedial action specified in the ROD. The remaining PRPs agreed to fund a portion of the sampling costs on a pro rata basis. Additionally, a separate natural resource damages assessment (“NRDA”) is being conducted by a local trustee group. The NRDA is intended to identify further information necessary to estimate liabilities for remediation based settlements of national resource damages (“NRD”) claims. The Company entered into a separate process to develop an allocation of NRD cost and is negotiating a cash-out settlement with the Trustee Group. On November 1, 2016, the Yakama Nation, which had earlier dropped out of the Trustee coalition, sent PRPs a letter indicating their intent to file suit to seek recovery for Natural Resources damages. In January 2017, Koppers Inc. was named as a party to a lawsuit filed by the Yakama Nation in Oregon federal court. Koppers Inc. is vigorously defending against this action. Motions to dismiss the case are pending.
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Related to Portland Harbor Superfund

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