Handy & Xxxxxx Electronic Materials Corporation Sample Clauses

Handy & Xxxxxx Electronic Materials Corporation. (“HHEM”) HHEM is continuing to comply with a 1987 consent order from the Massachusetts Department of Environmental Protection (“MADEP”) to investigate and remediate the soil and groundwater conditions at its former manufacturing facility in North Attleboro, Massachusetts (the “MA Property”). On January 20, 2009, HHEM filed with MADEP a partial Class A-3 Response Action Outcome Statement (“XXX- P”) and an Activity & Use Limitation (“AUL”) for the MA Property. By letter dated March 24, 2009, MADEP advised HHEM that the XXX-P did not require a comprehensive audit. By letter dated April 16, 2009, the MADEP advised HHEM that a MADEP AUL Audit Inspection conducted on March 18, 2009 did not identify any violations of the requirements applicable to the AUL. Together, the March 24 and April 16 MADEP letters, combined with HHEM’s Licensed Site Professional’s partial XXX opinion, constitute confirmation of the adequacy of HHEM’s investigation of the MA Property as well as its remediation and post closure monitoring plans. On March 31, 2010, the Massachusetts Attorney General executed a covenant not to xxx (CNTS) to cover the MA Property. On April 1, 2010, HHEM filed a Remedy Operation Status. On June 30, 2010, HHEM filed a Class A-3 XXX closure report. This report was based on HHEM’s Licensed Site Professional concluding that groundwater monitoring had demonstrated that the remediation had stabilized the groundwater conditions at the site. The MADEP will audit the report, and either approve it (permitting closure of the site) or request additional information / investigation.
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Handy & Xxxxxx Electronic Materials Corporation. HHEM entered into an administrative consent order (the “ACO”) in 1986 with the New Jersey Department of Environmental Protection (“NJDEP”) with regard to certain property that it purchased in 1984 in New Jersey. The ACO involves investigation and remediation activities to be performed with regard to soil and groundwater contamination. HHEM and H&H settled a case brought by the local municipality in regard to this site in 1998 and also settled with certain of its insurance carriers. HHEM is actively remediating the property and continuing to investigate effective methods for achieving compliance with the ACO. A remedial investigation report was filed with the NJDEP in December 2007. By letter dated December 12, 2008, NJDEP issued its approval with respect to additional investigation and remediation activities discussed in the December 2007 remedial investigation report. HHEM anticipates entering into discussions with NJDEP to address that agency’s natural resource damage claims, the ultimate scope and cost of which cannot be estimated at this time.Pursuant to a settlement agreement with the former owner/operator of the site, the responsibility for site investigation and remediation costs, as well as any other costs, as defined in the settlement agreement, related to or arising from environmental contamination on the property (collectively, “Costs”) are contractually allocated 75% to the former owner/operator (with separate guaranties by the two joint venture partners of the former owner/operator for 37.5% each) and 25% jointly to HHEM and H&H after the first $1.0 million. The $1.0 million was paid solely by the former owner/operator. As of June 30, 2010, over and above the $1.0 million, total investigation and remediation costs of approximately $1,500,561 and $500,525 have been expended by the former owner/operator and HHEM, respectively, in accordance with the settlement agreement. Additionally, HHEM indirectly is currently being reimbursed through insurance coverage for a portion of the Costs for which HHEM is responsible. HHEM believes that there is additional excess insurance coverage, which it intends to pursue as necessary. HHEM anticipates that there will be additional remediation expenses to be incurred once a remediation plan is agreed upon with NJDEP.
Sample 1
Handy & Xxxxxx Electronic Materials Corporation. HHEM through a real estate trust owns property adjacent to its former 00 Xxx Xxxxxx facility located at 0 Xxxx Xxxxxx, Xxxxx Xxxxxxxxx, XX. The following metals have been observed on this property above MCP default residential Method 1 S-1 standards and this was reported to the MassDEP on January 29, 2009 and Release Tracking Number 4-0021777 was assigned: Cadmium (Cd), Nickel (Ni), and Lead (Pb). These metals could be background levels, related to fill material that was deposited many years ago or from the adjacent industrial facility. HHEM has retained a consultant to investigate the site, implement a remedial action, if needed, and “close” the matter in accordance with the Massachusetts Contingency Plan (MCP) regulations.
Sample 1

Related to Handy & Xxxxxx Electronic Materials Corporation

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