Dow Reaches Proposed Comprehensive Settlement Agreement with US EPA and DOJ

The Dow Chemical Company’s (NYSE: DOW) Michigan Operations in Midland, Mich., has reached a proposed comprehensive settlement agreement with the United States Environmental Protection Agency (US EPA) and the Department of Justice (DOJ). The agreement encompasses air, water, and waste issues identified during an inspection that was conducted over a 20-month period between August 2005 and March 2007.

Dow has been working with the US EPA and DOJ since the inspection to review and resolve the issues from the audit. In many cases, the US EPA and Dow agreed that Dow was in compliance, and no corrective action was needed. In other instances, Dow and EPA had interpreted the regulations differently. In cases where Dow was found in noncompliance, Dow made immediate corrections. The general nature of many of the noncompliance allegations involved missed inspections, paperwork incompleteness and procedural issues. The settlement provides for a $2.5 million payment by Dow.

“We are committed to best-in-class performance of our Environmental, Health and Safety practices and have learned some very valuable lessons from this process. We know that every detail of compliance is critical – including the administrative detail,” said Earl Shipp, vice president of Michigan Operations. “While there has been no harm to human health or the environment with regard to these findings, we have taken corrective action and implemented measures to prevent recurrence.”

About Dow

Dow (NYSE: Dow) combines the power of science and technology with the “Human Element” to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world’s most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow’s diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2010, Dow had annual sales of $53.7 billion and employed approximately 50,000 people worldwide. The Company’s more than 5,000 products are manufactured at 188 sites in 35 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.

Dow (NYSE:DOW)
Historical Stock Chart
From May 2024 to Jun 2024