Exide To Close Plant, Pay $50M To End Pollution Row
Law360, Los Angeles (March 12, 2015, 5:38 PM EDT) -- Bankrupt Exide Technologies Inc. will demolish its battery recycling plant in Vernon, California, and pay $50 million in cleanup costs after admitting to criminal conduct including the illegal disposal of hazardous waste from the facility, federal authorities said Thursday.
Exide also acknowledged illegally storing, shipping and transporting hazardous waste in the nonprosecution agreement reached late Wednesday, the U.S. attorney's office said. The plant — which Exide admitted produced hazardous waste including lead, cadmium, arsenic and volatile organic compounds — stopped operating a year ago, but the company had allegedly planned to resume operations soon.
Exide's total costs will actually amount to more than $100 million,...
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