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These excerpts taken from the GIS 10-K filed Jul 11, 2008. ENVIRONMENTAL
MATTERS
As of May 25, 2008, we were involved with four active
cleanup sites associated with the alleged or threatened release
of hazardous substances or wastes located in: Minneapolis,
Minnesota; Sauget, Illinois; Moonachie, New Jersey; and
Doolittle, Missouri. These matters involve several different
actions, including administrative proceedings commenced by
regulatory agencies and demand letters by regulatory agencies
and private parties.
We recognize that our potential exposure with respect to any of
these sites may be joint and several, but have concluded that
our probable aggregate exposure is not material to our
consolidated financial position or cash flows from operations.
This conclusion is based upon, among other things: our payments
and accruals with respect to each site; the number, ranking and
financial strength of other potentially responsible parties; the
status of the proceedings, including various settlement
agreements, consent decrees, or court orders; allocations of
volumetric waste contributions and allocations of relative
responsibility among potentially responsible parties developed
by regulatory agencies and by private parties; remediation cost
estimates prepared by governmental authorities or private
technical consultants; and our historical experience in
negotiating and settling disputes with respect to similar sites.
Our operations are subject to the Clean Air Act, Clean Water
Act, Resource Conservation and Recovery Act, Comprehensive
Environmental Response, Compensation, and Liability Act, and the
Federal Insecticide, Fungicide, and Rodenticide Act, and all
similar state, local, and foreign environmental laws and
regulations applicable to the jurisdictions in which we operate.
Based on current facts and circumstances, we believe that
neither the results of our environmental proceedings nor our
compliance in general with environmental laws or regulations
will have a material adverse effect upon our capital
expenditures, earnings, or competitive position.
ENVIRONMENTAL MATTERS As of May 25, 2008, we were involved with four active cleanup sites associated with the alleged or threatened release of hazardous substances or wastes located in: Minneapolis, Minnesota; Sauget, Illinois; Moonachie, New Jersey; and Doolittle, Missouri. These matters involve several different actions, including administrative proceedings commenced by regulatory agencies and demand letters by regulatory agencies and private parties. We recognize that our potential exposure with respect to any of these sites may be joint and several, but have concluded that our probable aggregate exposure is not material to our consolidated financial position or cash flows from operations. This conclusion is based upon, among other things: our payments and accruals with respect to each site; the number, ranking and financial strength of other potentially responsible parties; the status of the proceedings, including various settlement agreements, consent decrees, or court orders; allocations of volumetric waste contributions and allocations of relative responsibility among potentially responsible parties developed by regulatory agencies and by private parties; remediation cost estimates prepared by governmental authorities or private technical consultants; and our historical experience in negotiating and settling disputes with respect to similar sites. Our operations are subject to the Clean Air Act, Clean Water Act, Resource Conservation and Recovery Act, Comprehensive Environmental Response, Compensation, and Liability Act, and the Federal Insecticide, Fungicide, and Rodenticide Act, and all similar state, local, and foreign environmental laws and regulations applicable to the jurisdictions in which we operate. Based on current facts and circumstances, we believe that neither the results of our environmental proceedings nor our compliance in general with environmental laws or regulations will have a material adverse effect upon our capital expenditures, earnings, or competitive position. This excerpt taken from the GIS 8-K filed Oct 15, 2007. Environmental Matters. In the ordinary course of its business, the Company conducts evaluations of the effect of Environmental Laws on the business, operations and properties of the Company and its Subsidiaries consistent with the risks posed and the nature of its operations, in the course of which it identifies and evaluates associated liabilities and costs (including, without limitation, any capital or operating expenditures required for clean-up or closure of properties presently or previously owned, any capital or operating expenditures required to achieve or maintain compliance with environmental protection standards imposed by law or as a condition of any license, permit or contract, any related constraints on operating activities, including any periodic or permanent shutdown of any facility or
reduction in the level of or change in the nature of operations conducted thereat and any actual or potential liabilities to third parties, including employees, and any related costs and expenses). On the basis of these evaluations, the Company has reasonably concluded that Environmental Laws are unlikely to have a Material Adverse Effect.
Section 5.12. This excerpt taken from the GIS 8-K filed Aug 7, 2007. Environmental Matters. In the ordinary course of its business, the Company conducts evaluations of the effect of Environmental Laws on the business, operations and properties of the Company and its Subsidiaries consistent with the risks posed and the nature of its operations, in the course of which it identifies and evaluates associated liabilities and costs (including, without limitation, any capital or operating expenditures required for clean-up or closure of properties presently or previously owned, any capital or operating expenditures required to achieve or maintain compliance with environmental protection standards imposed by law or as a condition of any license, permit or contract, any related constraints on operating activities, including any periodic or permanent shutdown of any facility or reduction in the level of or
change in the nature of operations conducted thereat and any actual or potential liabilities to third parties, including employees, and any related costs and expenses). On the basis of these
34 evaluations, the Company has reasonably concluded that Environmental Laws are unlikely to have a Material Adverse Effect. Section 5.12. This excerpt taken from the GIS 8-K filed Oct 17, 2006. Environmental Matters. In the ordinary course of its business, the Company conducts evaluations of the effect of Environmental Laws on the business, operations and properties of the Company and its Subsidiaries consistent with the risks posed and the nature of its operations, in the course of which it identifies and evaluates associated liabilities and costs (including, without limitation, any capital or operating expenditures required for clean-up or closure of properties presently or previously owned, any capital or operating expenditures required to achieve or maintain compliance with environmental protection standards imposed by law or as a condition of any license, permit or contract, any related constraints on operating activities, including any periodic or permanent shutdown of any facility or reduction in the level of or
change in the nature of operations conducted thereat and any actual or potential liabilities to third parties, including employees, and any related costs and expenses). On the basis of these evaluations, the Company has reasonably concluded that Environmental Laws are unlikely to have a Material Adverse Effect.
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