W.R. Grace to pay $250 million for asbestos cleanup

March 12, 2008

Federal officials say W.R. Grace and Co. has agreed to pay $250 million as reimbursement for government expenses in the investigation and cleanup of asbestos contamination in Libby, Montana. The U.S. Justice Department and the U.S. Environmental Protection Agency said Tuesday the sum is the highest in the history of the federal Superfund program of environmental cleanup. The $250 million deal settles a claim the government filed to collect money for past and future costs of cleaning Libby schools, homes and businesses contaminated with asbestos. The substance, which can cause the scarring of lung tissue, came from Grace’s vermiculite mine near the northwestern Montana community.

Associated Press 03.11.08