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GE Issues Report On Hudson River Project

General Electric Co. today issued a report on the environmental dredging project the Company is conducting on the Upper Hudson River in New York State.

The Company said its completion of the project — expected in 2016 — will fully resolve its remedial liabilities. Any liability for natural resource damages beyond the cleanup is speculative at best, GE said, because current scientific evidence shows that Hudson River wildlife populations are robust and thriving. Therefore, GE said, it believes no expansion of the dredging project is warranted.

GE has spent more than $1 billion thus far implementing the project selected and overseen by the U.S. Environmental Protection Agency. EPA has said the project is meeting the Agency’s clean-up goals and protects human health and the environment.

The report responds to a request from New York State Comptroller Thomas P. DiNapoli, sole trustee and manager of the New York State public employees’ Common Retirement Fund.

The full report is available at www.hudsondredging.com.

Copyright Business Wire 2010

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