NCR Corporation (NCR) said late Thursday the U.S. District Court for the Eastern District of Wisconsin has approved a settlement deal reached in January with the U.S. government and the State of Wisconsin that resolves the Wisconsin Fox River environmental cleanup and related Superfund litigation.
“Approval of this settlement should help bring to a conclusion this longstanding matter relating to cleanup efforts that NCR began many years ago,” NCR General Counsel Edward Gallagher said in a statement.
Under the settlement, NCR has committed to complete cleanup work and to drop a potential appeal. It will not make settlement payments but will fund remediation through contractors and vendors on a pay-as-it-goes basis. It said the settlement is not expected to have a material impact on its free cash flow or its Fox River reserve.
“It also incorporates the limitation of Superfund claims brought against the company by other parties and discontinuation of the company’s own such claims, and it envisions assignments of responsibility to other companies for certain future tasks,” NCR said.
NCR noted that the court’s decision remains subject to potential appeal.