Aventis SA Confirms that it has no financial liability for Iron Mountain Superfund Site.Business Editors RESEARCH TRIANGLE PARK Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , N.C.--(BUSINESS WIRE)--Oct. 20, 2000 Aventis CropScience USA , the US agricultural subsidiary of Aventis SA (NYSE NYSE See: New York Stock Exchange : AVE) is fully indemnified for all costs relating to the Iron Mountain Mine Iron Mountain Mine, also known as the Richmond Mine at Iron Mountain, is a mine near Redding in Northern California. Geologically classified as a "massive sulfide" ore deposit, the site was mined for iron, silver, gold, copper, zinc, and pyrite intermittently from the 1860s Superfund Site in Redding, California. This indemnification comes from the following three corporations; ICI (language) ICI - An extensible, interpretated language by Tim Long with syntax similar to C. ICI adds high-level garbage-collected associative data structures, exception handling, sets, regular expressions, and dynamic arrays. (NYSE: ICI), Astra Zeneca PLC (NYSE: AZN AZN Asian ), and Stauffer Management Company, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Astra Zeneca. The Aventis involvement results from a 1987 purchase from ICI of Stauffer Chemical Company by Rhone-Poulenc Inc, a predecessor of Aventis. Stauffer Chemical Company no longer owned the Iron Mountain site at the time of the 1987 purchase. As part of the purchase, Aventis received a complete indemnity for the Iron Mountain site from the ICI organizations, now including ICI, AstraZeneca and Stauffer Management Company. As a successor to Stauffer Chemical Company which had once owned the Iron Mountain site, Aventis CropScience was required by the EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. and the State of California to also sign the Settlement Agreement entered into among Stauffer Management Company, the EPA and the State of California. Under the indemnification, Stauffer Management Company is obligated to make all payments required by the Settlement Agreement. It is our understanding that the total cost will be approximately $160 million, not $1 billion as stated in recent news reports, however, whatever the amount Aventis will not incur any cost. Aventis CropScience is a major crop protection and crop production company which is also involved in top-ranking environmental and public health activities. Committed to developing sustainable agriculture worldwide, Aventis CropScience focuses on researching, developing and marketing innovative solutions that meet the needs of today's farming - healthy crops, increased yields, improved crop and food quality - whilst constantly striving to meet the needs of the environment. With 1999 pro-forma sales of 4,061 million Euro, Aventis CropScience devotes over 10% of its turnover to the Research and Development of new chemicals, biotechnology and plant varieties. It employs about 15,500 people in more than 120 countries worldwide. Aventis CropScience is part of the agricultural sector of Aventis, a world leader in Life Sciences. For more information on Aventis visit the Web Site www.aventis.com http://www.aventis.com |
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