Printed Circuits Operations, St Sample Clauses

Printed Circuits Operations, St. Louis Park, Minnesota. Groundwater contamination was discovered at the printed circuits facility formerly operated by the Borrower's Computer Products division in St. Louis Park. Despite the sale of the printed circuits business and the transfer of the St. Louis Park real estate to CD Systems in connection with the spin-off of CD Systems, the Borrower remains responsible for environmental matters related to this site. A consent order was signed with the Minnesota Pollution Control Agency ("MPCA") which obligates the Borrower to perform MPCA-approved remedial actions. The MPCA has accepted the Borrower's proposed remedial alternative involving the treatment and discharge of contaminated groundwater, and has issued a record of decision setting the recommended cleanup levels for the groundwater. A response action plan was submitted and approved and remediation facilities have been in operation since July 1990. Groundwater clean up has progressed to the point where the site is expected to start the closure and delisting process within the next 1-2 years. CD Systems is pursuing a sale of this property. The remaining cost of implementing remedial actions was most recently estimated by management to be under $500,000.
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