DuPont settles North Carolina PFAS claims for $455 million

Wilmington, Delaware - DuPont, Chemours, and Corteva have reached a $455 million settlement with North Carolina and eleven local entities to address litigation surrounding PFAS contamination from the Fayetteville Works facility. The settlement is spread over a 15-year period, with the initial payment made within 30 days of agreement.

The total value of the settlement, when considering its present value, is approximately $355 million. DuPont's share of the settlement, in pre-tax terms, amounts to around $126 million, with Qnity Electronics responsible for 44% of the reimbursement. The majority of the settlement ($18 million) is related to PFAS contamination outside of Fayetteville Works, with a maximum of $14.4 million attributed to aqueous film forming foam (AFFF).

The three companies have also honored their 2021 Memorandum of Understanding by valuing the settlements as net present value, spread over 25 years with an 8% discount rate. The payments from New Jersey and North Carolina will satisfy any required future escrow contributions. The settlement affects 11 local entities, including Bladen, Brunswick, Columbus, Cumberland, New Hanover, Robeson, Sampson, Wrightsville Beach, Lumberton, Bald Head Island, and Lower Cape Fear Water and Sewer Authority. The agreement requires the dismissal of the covered litigations.