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GIS » Topics » If other potentially responsible parties (PRPs) are unable to contribute to remediation costs at certain contaminated sites, our costs for remediation could be material.These excerpts taken from the GIS 10-K filed Jul 11, 2008. If
other potentially responsible parties (PRPs) are unable to
contribute to remediation costs at certain contaminated sites,
our costs for remediation could be material.
We are subject to various federal, state, local, and foreign
environmental and health and safety laws and regulations. Under
certain of these laws, namely the Comprehensive Environmental
Response, Compensation, and Liability Act and its state
counterparts, liability for investigation and remediation of
hazardous substance contamination at currently or formerly owned
or operated facilities or at third-party waste disposal sites is
joint and several. We currently are involved in active
remediation efforts at certain sites where we have been named a
PRP. If other PRPs at these sites are unable to contribute to
remediation costs, we could be held responsible for their
portion of the remediation costs, and those costs could be
material. We cannot assure that our costs in relation to these
environmental matters or compliance with environmental laws in
general will not exceed our reserves or otherwise have an
adverse effect on our business and results of operations.
If other potentially responsible parties (PRPs) are unable to contribute to remediation costs at certain contaminated sites, our costs for remediation could be material. We are subject to various federal, state, local, and foreign environmental and health and safety laws and regulations. Under certain of these laws, namely the Comprehensive Environmental Response, Compensation, and Liability Act and its state counterparts, liability for investigation and remediation of hazardous substance contamination at currently or formerly owned or operated facilities or at third-party waste disposal sites is joint and several. We currently are involved in active remediation efforts at certain sites where we have been named a PRP. If other PRPs at these sites are unable to contribute to remediation costs, we could be held responsible for their portion of the remediation costs, and those costs could be material. We cannot assure that our costs in relation to these environmental matters or compliance with environmental laws in general will not exceed our reserves or otherwise have an adverse effect on our business and results of operations. | EXCERPTS ON THIS PAGE:
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