ACW » Topics » ENVIRONMENTAL MATTERS:

These excerpts taken from the ACW 10-K filed Mar 13, 2009.

Environmental Matters

 

Our operations, facilities, and properties are subject to extensive and evolving laws and regulations pertaining to air emissions, wastewater discharges, the handling and disposal of solid and hazardous materials and wastes, the investigation and remediation of contamination, and otherwise relating to health, safety and the protection of the environment and natural resources. As a result, we are involved from time to time in administrative or legal proceedings relating to environmental, health and safety matters, and have in the past and will continue to incur capital costs and other expenditures relating to such matters. In addition to environmental laws that regulate our subsidiaries’ ongoing operations, our subsidiaries are also subject to environmental remediation liability. Under the federal Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”), and analogous state laws, our subsidiaries may be liable as a result of the release or threatened release of hazardous materials into the environment. Our subsidiaries are currently involved in several matters relating to the investigation and/or remediation of locations where they have arranged for the disposal of foundry and other wastes. Such matters include situations in which we have been named or are believed to be Potentially Responsible Parties as defined under CERCLA or state and local laws in connection with the contamination of these sites. Additionally, environmental remediation may be required to address soil and groundwater contamination identified at certain facilities.

 

As of December 31, 2008, we had an environmental reserve of approximately $1.5 million, related primarily to our foundry operations. This reserve is based on current cost estimates and does not reduce estimated expenditures to net present value, but does take into account the benefit of a contractual indemnity given to us by a prior owner of our wheel-end subsidiary. The failure of the indemnitor to fulfill its obligations could result in future costs that may be material. Any cash expenditures required by us or our subsidiaries to comply with applicable environmental laws and/or to pay for any remediation efforts will not be reduced or otherwise affected by the existence of the environmental reserve. We currently anticipate spending approximately $0.2 million per year in 2009 through 2012 for monitoring the various environmental sites associated with the environmental reserve, including attorney and consultant costs for strategic planning and negotiations with regulators and other potentially responsible parties, and payment of remedial investigation costs. Based on all of the information presently available to us, we believe that our environmental reserves will be adequate to cover the future costs related to the sites associated with the environmental reserves and that any additional costs will not have a material adverse effect on our financial condition, results of operations or cash flows. However, the discovery of additional sites, the modification of existing or the promulgation of new laws or regulations, more vigorous enforcement by regulators, the imposition of joint and several liability under CERCLA or analogous state laws or other unanticipated events could result in a material adverse effect.

 

The final Iron and Steel Foundry National Emission Standard for Hazardous Air Pollutants, or NESHAP, was developed pursuant to Section 112(d) of the Clean Air Act and requires all major sources of hazardous air pollutants to install controls representative of maximum achievable control technology. We believe that our foundry operations are in compliance with the applicable requirements of the Iron and Steel Foundry NESHAP.

 

Environmental Matters



 



Our operations, facilities, and properties
are subject to extensive and evolving laws and regulations pertaining to air
emissions, wastewater discharges, the handling and disposal of solid and
hazardous materials and wastes, the investigation and remediation of
contamination, and otherwise relating to health, safety and the protection of
the environment and natural resources. As a result, we are involved from time
to time in administrative or legal proceedings relating to environmental, health
and safety matters, and have in the past and will continue to incur capital
costs and other expenditures relating to such matters. In addition to
environmental laws that regulate our subsidiaries’ ongoing operations, our
subsidiaries are also subject to environmental remediation liability. Under the
federal Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”),
and analogous state laws, our subsidiaries may be liable as a result of the
release or threatened release of hazardous materials into the environment. Our
subsidiaries are currently involved in several matters relating to the
investigation and/or remediation of locations where they have arranged for the
disposal of foundry and other wastes. Such matters include situations in which
we have been named or are believed to be Potentially Responsible Parties as
defined under CERCLA or state and local laws in connection with the
contamination of these sites. Additionally, environmental remediation may be
required to address soil and groundwater contamination identified at certain
facilities.



 



As of December 31, 2008, we had an
environmental reserve of approximately $1.5 million, related primarily to
our foundry operations. This reserve is based on current cost estimates and
does not reduce estimated expenditures to net present value, but does take into
account the benefit of a contractual indemnity given to us by a prior owner of
our wheel-end subsidiary. The failure of the indemnitor to fulfill its
obligations could result in future costs that may be material. Any cash
expenditures required by us or our subsidiaries to comply with applicable
environmental laws and/or to pay for any remediation efforts will not be
reduced or otherwise affected by the existence of the environmental reserve. We
currently anticipate spending approximately $0.2 million per year in 2009
through 2012 for monitoring the various environmental sites associated with the
environmental reserve, including attorney and consultant costs for strategic
planning and negotiations with regulators and other potentially responsible
parties, and payment of remedial investigation costs. Based on all of the
information presently available to us, we believe that our environmental
reserves will be adequate to cover the future costs related to the sites
associated with the environmental reserves and that any additional costs will
not have a material adverse effect on our financial condition, results of
operations or cash flows. However, the discovery of additional sites, the modification
of existing or the promulgation of new laws or regulations, more vigorous
enforcement by regulators, the imposition of joint and several liability under
CERCLA or analogous state laws or other unanticipated events could result in a
material adverse effect.



 



The final Iron and Steel Foundry National
Emission Standard for Hazardous Air Pollutants, or NESHAP, was developed
pursuant to Section 112(d) of the Clean Air Act and requires all
major sources of hazardous air pollutants to install controls representative of
maximum achievable control technology. We believe that our foundry operations
are in compliance with the applicable requirements of the Iron and Steel
Foundry NESHAP.



 



This excerpt taken from the ACW 8-K filed May 20, 2008.
ENVIRONMENTAL MATTERS: Lessee covenants and agrees that at all times following the commencement of the Term hereof Lessee and all other persons who manage, use, operate or occupy the Premises shall comply with all federal, state and local laws, regulations and orders regulating health, safety and environmental matters, including, without limitation, air pollution, soil and water pollution and the use, generation, storage, handling or disposal of Hazardous Materials (defined below in this Paragraph).

 

Lessee shall not generate, handle, use, store, treat, discharge, release or dispose of any Hazardous Materials at the Premises unless Lessee shall be in full compliance with all environmental laws relating to Hazardous Materials. Further  Lessee agrees to hold Lessor harmless for any hazardous, toxic or dangerous waste, substance or material spilled or released on the Premises in the future (during the Term of the Lease) by Lessee, its agents, contractors, guests, tenants, employees or invitees.

 

For purposes of this Paragraph, the term “Hazardous Materials” shall mean any hazardous, toxic or dangerous waste, substance or material defined as such in (or for purposes of) the Comprehensive Environmental Response, Compensation and Liability Act of the United

 

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States Congress, or in any other law, regulation or order, now or hereafter in effect, of any governmental authority regulating, or imposing liability or standards of conduct relating to, any hazardous, toxic or dangerous waste, substance or material.

 

(26)                       

These excerpts taken from the ACW 10-K filed Mar 17, 2008.

Environmental Matters

 

Our operations, facilities, and properties are subject to extensive and evolving laws and regulations pertaining to air emissions, wastewater discharges, the handling and disposal of solid and hazardous materials and wastes, the investigation and remediation of contamination, and otherwise relating to health, safety and the protection of the environment and natural resources. As a result, we are involved from time to time in administrative or legal proceedings relating to environmental, health and safety matters, and have in the past and will continue to incur capital costs and other expenditures relating to such matters. In addition to environmental laws that regulate our subsidiaries’ ongoing operations, our subsidiaries are also subject to environmental remediation liability. Under the federal Comprehensive Environmental Response, Compensation, and Liability Act, or CERCLA, and analogous state laws, our subsidiaries may be liable as a result of the release or threatened release of hazardous materials into the environment. Our subsidiaries are currently involved in several matters relating to the investigation and/or remediation of locations where they have arranged for the disposal of foundry and other wastes. Such matters include situations in which we have been named or are believed to be Potentially Responsible Parties under CERCLA or state and local laws in connection with the contamination of these sites. Additionally, environmental remediation may be required to address soil and groundwater contamination identified at certain facilities.

 

As of December 31, 2007, we had an environmental reserve of approximately $2.6 million, related primarily to TTI’s foundry operations. This reserve is based on current cost estimates and does not reduce estimated expenditures to net present value, but does take into account the benefit of a contractual indemnity given to us by a prior owner of our wheel-end subsidiary. The failure of the indemnitor to fulfill its obligations could result in future costs that may be material. Any cash expenditures required by us or our subsidiaries to comply with applicable environmental laws and/or to pay for any remediation efforts will not be reduced or otherwise affected by the existence of the environmental reserve. We currently anticipate spending approximately $0.2 million per year in 2008 through 2011 for monitoring the various environmental sites associated with the environmental reserve, including attorney and consultant costs for strategic planning and negotiations with regulators and other potentially responsible parties, and payment of remedial investigation costs. Based on all of the information presently available to us, we believe that our environmental reserves will be adequate to cover the future costs related to the sites associated with the environmental reserves, and that any additional costs will not have a material adverse effect on our financial condition, results of operations or cash flows. However, the discovery of additional sites, the modification of existing or the promulgation of new laws or regulations, more vigorous enforcement by regulators, the imposition of joint and several liability under CERCLA or analogous state laws, or other unanticipated events could also result in such a material adverse effect.

 

The final Iron and Steel Foundry National Emission Standard for Hazardous Air Pollutants, or NESHAP, was developed pursuant to Section 112(d) of the Clean Air Act and requires all major sources of hazardous air pollutants to install controls representative of maximum achievable control technology. We are evaluating the applicability of the Iron and Steel Foundry NESHAP to our foundry operations. If applicable, compliance with the Iron and Steel Foundry NESHAP may result in future significant capital costs, which we currently expect to be approximately $6 million in total during the period 2008 through 2009.

 

Environmental Matters



 



Our operations, facilities, and properties
are subject to extensive and evolving laws and regulations pertaining to air
emissions, wastewater discharges, the handling and disposal of solid and
hazardous materials and wastes, the investigation and remediation of
contamination, and otherwise relating to health, safety and the protection of
the environment and natural resources. As a result, we are involved from time
to time in administrative or legal proceedings relating to environmental,
health and safety matters, and have in the past and will continue to incur
capital costs and other expenditures relating to such matters. In addition to
environmental laws that regulate our subsidiaries’ ongoing operations, our
subsidiaries are also subject to environmental remediation liability. Under the
federal Comprehensive Environmental Response, Compensation, and Liability Act,
or CERCLA, and analogous state laws, our subsidiaries may be liable as a result
of the release or threatened release of hazardous materials into the
environment. Our subsidiaries are currently involved in several matters
relating to the investigation and/or remediation of locations where they have
arranged for the disposal of foundry and other wastes. Such matters include
situations in which we have been named or are believed to be Potentially
Responsible Parties under CERCLA or state and local laws in connection with the
contamination of these sites. Additionally, environmental remediation may be
required to address soil and groundwater contamination identified at certain
facilities.



 



As of December 31, 2007, we had an
environmental reserve of approximately $2.6 million, related primarily to
TTI’s foundry operations. This reserve is based on current cost estimates and
does not reduce estimated expenditures to net present value, but does take into
account the benefit of a contractual indemnity given to us by a prior owner of
our wheel-end subsidiary. The failure of the indemnitor to fulfill its
obligations could result in future costs that may be material. Any cash
expenditures required by us or our subsidiaries to comply with applicable
environmental laws and/or to pay for any remediation efforts will not be
reduced or otherwise affected by the existence of the environmental reserve. We
currently anticipate spending approximately $0.2 million per year in 2008
through 2011 for monitoring the various environmental sites associated with the
environmental reserve, including attorney and consultant costs for strategic
planning and negotiations with regulators and other potentially responsible
parties, and payment of remedial investigation costs. Based on all of the
information presently available to us, we believe that our environmental
reserves will be adequate to cover the future costs related to the sites
associated with the environmental reserves, and that any additional costs will
not have a material adverse effect on our financial condition, results of
operations or cash flows. However, the discovery of additional sites, the
modification of existing or the promulgation of new laws or regulations, more
vigorous enforcement by regulators, the imposition of joint and several
liability under CERCLA or analogous state laws, or other unanticipated events
could also result in such a material adverse effect.



 



The final Iron and Steel Foundry National
Emission Standard for Hazardous Air Pollutants, or NESHAP, was developed
pursuant to Section 112(d) of the Clean Air Act and requires all
major sources of hazardous air pollutants to install controls representative of
maximum achievable control technology. We are evaluating the applicability of
the Iron and Steel Foundry NESHAP to our foundry operations. If applicable,
compliance with the Iron and Steel Foundry NESHAP may result in future
significant capital costs, which we currently expect to be approximately
$6 million in total during the period 2008 through 2009.



 



This excerpt taken from the ACW 10-K filed Mar 9, 2007.

Environmental Matters

Our operations, facilities, and properties are subject to extensive and evolving laws and regulations pertaining to air emissions, wastewater discharges, the handling and disposal of solid and hazardous materials and wastes, the investigation and remediation of contamination, and otherwise relating to health, safety and the protection of the environment and natural resources. As a result, we are involved from time to time in administrative or legal proceedings relating to environmental, health and safety matters, and have in the past and will continue to incur capital costs and other expenditures relating to such matters. In addition to environmental laws that regulate our subsidiaries’ ongoing operations, our subsidiaries are also subject to environmental remediation liability. Under the federal Comprehensive Environmental Response, Compensation, and Liability Act, or CERCLA, and analogous state laws, our subsidiaries may be liable as a result of the release or threatened release of hazardous materials into the environment. Our subsidiaries are currently involved in several matters relating to the investigation and/or remediation of locations where they have arranged for the disposal of foundry and other wastes. Such matters include situations in which we have been named or are believed to be Potentially Responsible Parties under CERCLA or state and local laws in connection with the contamination of these sites. Additionally, environmental remediation may be required to address soil and groundwater contamination identified at certain facilities.

As of December 31, 2006, we had an environmental reserve of approximately $2.6 million, related primarily to TTI’s foundry operations. This reserve is based on current cost estimates and does not reduce estimated expenditures to net present value, but does take into account the benefit of a contractual indemnity given to us by a prior owner of our wheel-end subsidiary. The failure of the indemnitor to fulfill its obligations could result in future costs that may be material. Any cash expenditures required by us or our subsidiaries to comply with applicable environmental laws and/or to pay for any remediation efforts will not be reduced or otherwise affected by the existence of the environmental reserve. We currently anticipate spending approximately $0.2 million per year in 2007 through 2010 for monitoring the various environmental sites associated with the environmental reserve, including attorney and consultant costs for strategic planning and negotiations with regulators and other potentially responsible parties, and payment of remedial investigation costs. Based on all of the information presently available to us, we believe that our environmental reserves will be adequate to cover the future costs related to the sites associated with the environmental reserves, and that any additional costs will not have a material adverse effect on our financial condition, results of operations or cash flows. However, the discovery of additional sites, the modification of existing or the promulgation of new laws or regulations, more vigorous enforcement by regulators, the imposition of joint and several liability under CERCLA or analogous state laws, or other unanticipated events could also result in such a material adverse effect.

The final Iron and Steel Foundry National Emission Standard for Hazardous Air Pollutants, or NESHAP, was developed pursuant to Section 112(d) of the Clean Air Act and requires all major sources of hazardous air pollutants to install controls representative of maximum achievable control technology. We are evaluating the applicability of the Iron and Steel Foundry NESHAP to our foundry operations. If applicable, compliance with the Iron and Steel Foundry NESHAP may result in future significant capital costs, which we currently expect to be approximately $6 million in total during the period 2007 through 2008.

This excerpt taken from the ACW 10-K filed Mar 7, 2006.

Environmental Matters

 

Our operations, facilities and properties are subject to extensive and evolving laws and regulations pertaining to air emissions, wastewater discharges, the handling and disposal of solid and hazardous materials and wastes, the investigation and remediation of contamination, and otherwise relating to health, safety and the protection of the environment and natural resources. As a result, we are involved from time to time in administrative or legal proceedings relating to environmental, health and safety matters, and have in the past and will continue to incur capital costs and other expenditures relating to such matters. In addition to environmental laws that regulate our subsidiaries’ ongoing operations, our subsidiaries are also subject to environmental remediation liability. Under the federal Comprehensive Environmental Response, Compensation, and Liability Act, or CERCLA, and analogous state laws, our subsidiaries may be liable as a result of the release or threatened release of hazardous materials into the environment. Our subsidiaries are currently involved in several matters relating to the investigation and/or remediation of locations where they have arranged for the disposal of foundry and other wastes. Such matters include situations in which we have been named or are believed to be Potentially Responsible Parties under CERCLA or state laws in connection with the contamination of these sites. Additionally, environmental remediation may be required to address soil and groundwater contamination identified at certain facilities.

 

As of December 31, 2005, we had an environmental reserve of approximately $2.7 million, related primarily to TTI’s foundry operations. This reserve is based on current cost estimates and does not reduce estimated expenditures to net present value, but does take into account the benefit of a contractual indemnity given to us by a prior owner of our wheel-end subsidiary. We cannot assure you, however, that the indemnitor will fulfill its obligations, and the failure to do so could result in future costs that may be material. Any cash expenditures required by us or our subsidiaries to comply with applicable environmental laws and/or to pay for any remediation efforts will not be reduced or otherwise affected by the existence of the environmental reserve. We currently anticipate spending approximately $0.2 million per year in 2006 through 2010 for monitoring the various environmental sites associated with the environmental reserve, including attorney and consultant costs for strategic planning and negotiations with regulators and other potentially responsible parties, and payment of remedial investigation costs. Based on all of the information presently available to us, we believe that our environmental reserves will be adequate to cover the future costs related to the sites associated with the environmental reserves, and that any additional costs will not have a material adverse effect on our financial condition, results of operations or cash flows. However, the discovery of additional sites, the modification of existing or the promulgation of new laws or regulations, more vigorous enforcement by regulators, the imposition of joint and several liability under CERCLA or analogous state laws, or other unanticipated events could also result in such a material adverse effect.

 

The final Iron and Steel Foundry National Emission Standard for Hazardous Air Pollutants, or NESHAP, was developed pursuant to Section 112(d) of the Clean Air Act and requires all major sources of hazardous air pollutants to install controls representative of maximum achievable control technology. We are evaluating the applicability of the Iron and Steel Foundry NESHAP to our foundry operations. If applicable, compliance with the Iron and Steel Foundry NESHAP may result in future significant capital costs, which we currently expect to be approximately $5 million in total during the period 2006 through 2007.

 

8



 

This excerpt taken from the ACW 10-K filed Mar 31, 2005.

Environmental Matters

        Our operations, facilities and properties are subject to extensive and evolving laws and regulations pertaining to air emissions, wastewater discharges, the handling and disposal of solid and hazardous materials and wastes, the investigation and remediation of contamination, and otherwise relating to health, safety and the protection of the environment and natural resources. As a result, we are involved from time to time in administrative or legal proceedings relating to environmental, health and safety matters, and have in the past and will continue to incur capital costs and other expenditures relating to such matters. In addition to environmental laws that regulate our subsidiaries' ongoing operations, our subsidiaries are also subject to environmental remediation liability. Under the federal Comprehensive Environmental Response, Compensation, and Liability Act, or CERCLA, and analogous state laws, our subsidiaries may be liable as a result of the release or threatened release of hazardous materials into the environment. Our subsidiaries are currently involved in several matters relating to the investigation and/or remediation of locations where they have arranged for the disposal of foundry and other wastes. Such matters include situations in which we have been named or are believed to be Potentially Responsible Parties under CERCLA or state laws in connection with the contamination of these sites. Additionally, environmental remediation may be required to address soil and groundwater contamination identified at certain facilities.

        As of January 31, 2005, we had a environmental reserve of approximately $2.8 million, related primarily to TTI's foundry operations. This reserve is based on current cost estimates and does not reduce estimated expenditures to net present value, but does take into account the benefit of a contractual indemnity given to us by a prior owner of our wheel-end subsidiary. We cannot assure you, however, that the indemnitor will fulfill its obligations, and the failure to do so could result in future costs that may be material. Any cash expenditures required by us or our subsidiaries to comply with applicable environmental laws and/or to pay for any remediation efforts will not be reduced or

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otherwise affected by the existence of the environmental reserve. Our environmental reserve may not be adequate to cover our future costs related to the sites associated with the environmental reserve, and any additional costs may have a material adverse effect on our business, results of operations or financial condition. The discovery of additional sites, the modification of existing or the promulgation of new laws or regulations, more vigorous enforcement by regulators, the imposition of joint and several liability under CERCLA or analogous state laws, or other unanticipated events could also result in such a material adverse effect.

        As part of an initiative regarding compliance in the foundry industry, the EPA conducted an environmental multimedia inspection at Gunite's Rockford, Illinois plant in September and October 2003. Gunite received an administrative complaint from the EPA in January 2005 regarding alleged violations of certain registration and record maintenance regulations, with a proposed penalty in the amount of approximately $138,600. Gunite is reviewing the complaint and has not yet responded.

        The final Iron and Steel Foundry National Emission Standard for Hazardous Air Pollutants, or NESHAP, was developed pursuant to Section 112(d) of the Clean Air Act and requires all major sources of hazardous air pollutants to install controls representative of maximum achievable control technology. We are evaluating the applicability of the Iron and Steel Foundry NESHAP to our foundry operations. If applicable, compliance with the Iron and Steel Foundry NESHAP may result in future significant capital costs, which we currently expect to be approximately $5 million in total during the period 2005 through 2007.


Item 2. Properties

        The table below sets forth certain information regarding the material owned and leased properties of Accuride and TTI. We believe these properties are suitable and adequate for our business.

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