Wilmingon, Delaware, USA
August 4, 2025
- Resolves all environmental claims, including those related to PFAS, across four current and former operating sites and all statewide PFAS claims, including those related to aqueous film forming foam (“AFFF”).
- Settlement payments over 25 years, with pre-tax net present value of approximately $500 million to be shared by the parties in accordance with existing cost sharing arrangements.
- Remediation for operations at current and former operating sites will continue in accordance with existing legal requirements.
- DuPont and Corteva to acquire Chemours’ rights to certain insurance proceeds related to PFAS claims for $150 million.
The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD), and Corteva, Inc. (NYSE: CTVA) (the “Companies”) today announced a settlement to comprehensively resolve all pending environmental and other claims by the State of New Jersey against the Companies in various litigation matters and other state directives. The Settlement will resolve all legacy contamination claims related to the companies’ current and former operating sites (Chambers Works, Parlin, Pompton Lakes and Repauno) and claims of statewide PFAS contamination unrelated to those sites, including from the use of aqueous film forming foam.
Settlement payments will total $875 million over a 25-year period beginning within 30 days of the Judicial Consent Order (“JCO”) entry date, which will be no earlier than January 1, 2026. Of the total settlement amount, $16.5 million is attributed to alleged PFAS contamination unrelated to the Companies’ operating sites, including AFFF of $4.125 million. The pre-tax total present value of the settlement payments is about $500 million, based on the discount rate set forth in the JCO for purposes of prepaying settlement amounts.
Consistent with the January 2021 Memorandum of Understanding between the parties (“MOU”), Chemours will be responsible for 50% of settlement payments, or approximately $250 million on a present value basis, DuPont will be responsible for 35.5% of settlement payments, or approximately $177 million on a present value basis, and Corteva will be responsible for the remaining 14.5% of settlement payments, or approximately $72 million on a present value basis.
The settlement also establishes a process for determining the amount of the Remediation Funding Source (“RFS”) at the four current and former operating sites and the initial range for each, as well as other mechanisms to secure future remediation at the sites. The RFS will be secured by a surety bond or similar instrument. In addition, DuPont and Corteva will establish a Reserve Fund based on their respective cost sharing percentages, capped at $475 million, also through a surety bond or similar instrument, to serve as further financial security, separate from and secondary to the RFS. The Reserve Fund will be accessible only under limited conditions detailed in the settlement. The RFS and Reserve Fund do not represent a new cash outlay by the Companies other than the ongoing costs of maintaining the surety bond or a similar instrument to support both.
The terms of the settlement are set forth in a proposed Judicial Consent Order (JCO), which remains subject to notice and comment pursuant to New Jersey law, as well as final court approval.
In addition, and contingent upon approval of the JCO, DuPont and Corteva will purchase from Chemours for $150 million Chemours’ rights to receive certain insurance proceeds related to PFAS claims. After DuPont and Corteva have recovered the $150 million, plus a fee, Chemours will be entitled to its 50% share of further insurance recoveries.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in providing industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and advanced electronics, general industrial, and oil and gas. Through our three businesses – Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials – we deliver application expertise and chemistry-based innovations that solve customers’ biggest challenges. Our flagship products are sold under prominent brands such as Opteon™, Freon™, Ti-Pure™, Nafion™, Teflon™, Viton™, and Krytox™. Headquartered in Wilmington, Delaware and listed on the NYSE under the symbol CC, Chemours has approximately 6,000 employees and 28 manufacturing sites and serves approximately 2,500 customers in approximately 110 countries.
For more information, visit chemours.com or follow us on LinkedIn.
About DuPont
DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.
DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, SM or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world’s most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
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