This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

3 Firms Agree To Spend $30M Fixing Superfund Site

FAIRMONT, W.Va. (AP) â¿¿ Three companies will pay nearly $30 million to continue cleaning up a riverside Superfund site near Fairmont, W.Va. and to reimburse the state and federal governments for previous work, the U.S. Environmental Protection Agency announced Monday.

The settlement filed in U.S. District Court in Clarksburg requires Exxon Mobil Corp., Vertellus Specialties Inc., and CBS Corp., to spend $17.8 million cleaning up the mess that their predecessor companies created decades ago while processing coal tar and other hazardous wastes.

The reimbursements total about $11 million, the EPA said, while costs going forward are projected to be another $1 million.

The 38-acre property along the Monongahela River was designated a Superfund site in 2000, decades after industrial activity dating to 1932 polluted it with coal tar, light bulb byproducts and other hazardous materials.

The cleanup will include removing about 5,500 cubic yards of tainted soil, building an impermeable cap and improving a groundwater containment system to keep the hazardous materials from migrating.

Between 1932 and 1973, the site was a tar processing and refining plant owned by a predecessor of Vertellus Specialties, including Reilly Tar and Chemical Corp.

Domestic Coke, a predecessor of ExxonMobil, ran a coke product plant next to the site, delivering the crude tar for processing along with the former Sharon Steel Corp.

From 1973 to 1984, Big John Salvage owned the property and ran a metal, glass, and oil salvaging operation.

EPA officials say Big John's took hazardous waste from Westinghouse Electric Co., a predecessor of today's CBS Corp., and that waste included lead dust, mercury-tainted waste oil and fluorescent light bulbs that contained mercury.

The court filing says Big John's filed for bankruptcy in 1984.

Work to keep tar from seeping into surface water and the Monongahela River has been under way for years.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs