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☆ Chemours, DuPont, Corteva reach $110 mln 'forever chemicals' Ohio settlement
▼ + stars: | 2023-11-29 | by ( Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | October | ) www.reuters.com time to read: +1 min

A logo is pictured outside of Dupont offices in Geneva, Switzerland, April 15, 2021. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsCompaniesLaw Firms 3M Co FollowChemours Co FollowCorteva Inc Follow Show more companiesNov 29 (Reuters) - Chemours (CC.N), Dupont De Nemours (DD.N) and Corteva (CTVA.N) have reached a settlement agreement with the U.S. state of Ohio for $110 million to resolve claims associated with toxic "forever chemicals", the companies said on Wednesday. Chemours said it would be responsible for half of the settlement costs, while DuPont would provide about $39 million. 3M (MMM.N) agreed in June to pay $10.3 billion to settle hundreds of claims that the company polluted public drinking water with the chemicals, while Chemours, DuPont and Corteva reached a similar deal with U.S. water providers for $1.19 billion. Reporting by Tanay Dhumal and Sourasis Bose in Bengaluru; Editing by Shilpi Majumdar and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Dupont De Nemours, Chemours, Corteva, Tanay Dhumal, Sourasis Bose, Shilpi Majumdar, Devika Organizations: REUTERS, U.S, DuPont, Washington Works, Ohio -, Thomson Locations: Dupont, Geneva, Switzerland, U.S ., Ohio, Ohio - West Virginia, U.S, Bengaluru

☆ 3M, DuPont defeat massive class action over forever chemicals
▼ + stars: | 2023-11-27 | by ( Clark Mindock | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 27 (Reuters) - A U.S. appeals court on Monday handed 3M (MMM.N), Corteva Inc (CTVA.N) subsidiary E.I. Circuit Court of Appeals vacated a lower court's approval of the massive class action, which included virtually every resident of Ohio and put considerable legal pressure on the chemical manufacturers to settle the plaintiffs' claims. The appeals court instructed the lower court to dismiss Hardwick's lawsuit, which had aimed to force the companies to pay for studies analyzing the health impacts of PFAS. The lawsuit also sought to establish a fund to monitor Ohio residents for health impacts from PFAS exposure. The chemicals are often referred to as forever chemicals because they do not easily break down in nature or in the human body.

Persons: Andrew Kelly, du Pont, du Pont de Nemours, Kevin Hardwick, Clark Mindock, Alexia Garamfalvi Organizations: DuPont de Nemours , Inc, New York Stock Exchange, REUTERS, Corteva Inc, du Pont de, du Pont de Nemours and, Circuit, DuPont, Thomson Locations: Manhattan , New York City, U.S, Ohio, Cincinnati , Ohio, Lincoln

☆ Cramer’s Stop Trading: Corteva
▼ + stars: | 2023-11-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCramer’s Stop Trading: CortevaCNBC’s Jim Cramer explains why he is keeping an eye on shares of Corteva Inc.

Persons: Jim Cramer Organizations: Corteva Inc

June 22 (Reuters) - 3M Co has reached a $10.3 billion settlement with a host of U.S. public water systems to resolve water pollution claims tied to "forever chemicals," the chemical company announced on Thursday. The company said the settlement would provide the funds over a 13-year period to cities, towns and other public water systems to test and treat contamination of per- and polyfluoroalkyl substances, or PFAS. 3M, which is facing thousands of lawsuits over PFAS contamination, did not admit liability, and said the money will help support remediation at public water systems that detect PFAS "at any level." "The result is that millions of Americans will have healthier lives without PFAS in their drinking water." 3M had been scheduled to face a test trial in South Carolina federal court earlier this month in a lawsuit brought by Stuart, Florida.

Persons: Scott Summy, Stuart, Brendan Pierson, Clark Mindock, Alexia Garamfalvi, Chris Reese, Daniel Wallis Organizations: 3M, Environmental Protection Agency, EPA, DuPont de Nemours Inc, Corteva Inc, Thomson Locations: U.S, South Carolina, Stuart , Florida, New York

The judge asked for weekly updates, and said he would reschedule the trial if an agreement is not reached within 21 days. 3M spokesperson Sean Lynch said in a statement the parties are "making material and significant progress toward a resolution of this matter." [1/2] The 3M Global Headquarters in Maplewood, Minnesota, U.S. is photographed on March 4, 2020. It has said in court documents that PFAS have not been linked with health problems at the levels being discovered in drinking water. Bloomberg News reported last Friday that 3M had struck a tentative $10 billion deal with U.S. cities and towns to resolve the PFAS water pollution lawsuits it is facing.

Persons: Stuart, Richard Gergel, Paul Napoli, Sean Lynch, Nicholas Pfosi, Maria Ponnezhath, Clark Mindock, Juby Babu, Akanksha Khushi, Aishwarya Nair, Kim Coghill, Sonali Paul, Sriraj, Devika Syamnath, Alexia Garamfalvi, Marguerita Choy Organizations: 3M, District, Napoli, 3M Global, REUTERS, Bloomberg News, Environmental Protection Agency, DuPont de Nemours Inc, Corteva Inc, Thomson Locations: U.S, Florida, Charleston , South Carolina, South Carolina, Stuart , Florida, Maplewood , Minnesota, Bengaluru, New York

[1/2] The 3M Global Headquarters in Maplewood, Minnesota, U.S. is photographed on March 4, 2020. 3M was scheduled to face trial in South Carolina federal court on Monday in a lawsuit brought by the Florida city accusing the company of manufacturing PFAS, or per- and polyflouroalkyl substances, despite knowing for decades that the chemicals can cause cancer and other ailments. The company and lawyers for the city did not immediately respond to requests for comment. 3M announced in December that it would stop producing PFAS by 2025, amid increased legal and regulatory scrutiny. Bloomberg News reported last Friday that 3M had struck a tentative $10 billion deal with U.S. cities and towns to resolve the PFAS water pollution lawsuits it is facing.

Persons: Nicholas Pfosi, Stuart, Maria Ponnezhath, Clark Mindock, Kim Coghill, Sonali Paul Organizations: 3M Global, REUTERS, 3M, U.S, District, District of South Carolina Charleston Division, DuPont de Nemours Inc, Corteva Inc, Bloomberg News, Thomson Locations: Maplewood , Minnesota, U.S, Stuart, Florida, South Carolina, District of South, Bengaluru, New York

June 2 (Reuters) - 3M Co (MMM.N) has struck a tentative settlement of at least $10 billion with a host of U.S. cities and towns to resolve water pollution claims tied to "forever chemicals," Bloomberg News reported on Friday, citing people familiar with the matter. 3M was scheduled to face trial on Monday against the City of Stuart, Florida. The city has said it is seeking more than $100 million from 3M to pay for water filtration and soil remediation. Litigation over them threatens companies like 3M, DuPont and others with billions of dollars in liabilities. The city claims firefighting foams containing PFAS were regularly sprayed at a local fire station, leading the chemicals to seep into the groundwater.

Persons: DuPont de Nemours Inc DD.N, CTVA.N, Stuart, Priyamvada, Clark Mindock, Brendan Pierson, Devika Syamnath, Alexia Garamfalvi, Matthew Lewis Organizations: Bloomberg, Reuters, DuPont de Nemours Inc, City, 3M, DuPont, Thomson Locations: U.S, DuPont, Stuart , Florida, South Carolina, West Palm Beach , Florida, Bengaluru, New York

☆ Chemical makers settle PFAS-related claims for $1.19 bln
▼ + stars: | 2023-06-02 | by ( Clark Mindock | ) www.reuters.com time to read: +2 min

The companies, which deny the allegations, said that they expect to finalize a formal agreement by the second quarter of 2023. Chemours said it would contribute half the agreed amount, while the remainder would be provided by DuPont and Corteva. A first trial testing those claims against 3M Co. is scheduled to begin next week. Chemours, DuPont and Corteva were originally included as defendants in that trial, but Gergel removed them from the proceedings last month. The companies also face claims in other courts raised by individuals and by state attorneys general in California, Maryland, Washington and elsewhere.

Persons: Chemours, Richard Gergel, Gergel, Sourasis Bose, Clark Mindock, Shounak Dasgupta, Vinay Dwivedi, Alexia Garamfalvi, Sharon Singleton Organizations: DuPont de Nemours Inc, Corteva Inc, DuPont, Corteva, 3M, U.S, District, Thomson Locations: U.S, South, California , Maryland, Washington, Bengaluru, New York

☆ 3M reaches tentative pollution settlement of at least $10 bln - Bloomberg News
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 2 (Reuters) - 3M Co (MMM.N) has struck a tentative settlement of at least $10 billion with a host of U.S. cities and towns to resolve water pollution claims tied to "forever chemicals", Bloomberg News reported on Friday, citing people familiar with the matter. Shares of 3M were up about 9% in afternoon trade. Last month, the Dutch government said it would hold 3M liable for polluting the Western Scheldt river with perfluoroalkyl and polyfluoroalkyl substances (PFAS) - dubbed "forever chemicals" because they can last thousands of years in nature without degrading. 3M did not immediately respond to a Reuters request for comment on the report. Reporting by Priyamvada C in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Priyamvada, Devika Organizations: Bloomberg, Chemours, DuPont de Nemours Inc, Corteva Inc, Thomson Locations: U.S, perfluoroalkyl, Bengaluru

☆ Corteva results beat estimates, agrichemical firm raises sales view
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

May 3 (Reuters) - Agricultural chemical and seed company Corteva Inc (CTVA.N) on Wednesday reported first-quarter results that beat market estimates and raised its full-year sales forecast aided by higher prices and strong demand for seeds. Prices of crops have scaled back after rising to record highs as Russia's invasion of Ukraine last year hit grain supplies, but still remain higher than historical levels. Farmers have prioritized on boosting yields to benefit from high prices and offset rising inflation. Corteva's operating core profit came in at $1.16 per share in the quarter ended March 31, compared with the analysts' average estimate of 93 cents. Reporting by Sourasis Bose in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. trade consultations on Mexico's GMO corn rule 'unacceptable violation' of law -Mexican official
▼ + stars: | 2023-04-27 | by ( Adriana Barrera | ) www.reuters.com time to read: +2 min

MEXICO CITY, April 27 (Reuters) - Trade consultations requested by the United States on Mexico's plan to limit the use of genetically modified corn are an "unacceptable violation" of Mexican law and feed the interests of seed "oligopolies," a top Mexican official said on Thursday. The United States, Mexico's main trading partner, requested the consultations in early March under the United States-Mexico-Canada (USMCA) agreement, which calls for a science-based approach to domestic regulations. "The United States' request to Mexico follows the interests of seed, agrochemical, and other food-producing oligopolies," said Mexican Deputy Agriculture Minister Victor Suarez. Washington requested consultations after Mexico softened an original plan to ban GMO corn across the board and instead opened its use for animal feed and industrial use. The Mexican policy "does not affect U.S. corn producers in any way," Suarez said, contradictory to the U.S.' claims.

☆ After growing GM corn for decades, some US farmers open to Mexican restrictions
▼ + stars: | 2023-04-06 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

"I'm all for free and fair trade," said Fred Huddlestun, who grows GM corn and soybeans in Yale, Illinois. Supporters of the policy say GM corn can contaminate Mexico's age-old native varieties and have questioned its impact on human health. NCGA said GM corn is safe and it will fight all illegal trade barriers for farmers. But many would consider growing more non-GM corn, if the price were right. "You need to make it worth my while," said Illinois farmer Dave Kestel, who grows GM corn and sells seed for Corteva.

Mexico published a presidential decree on genetically modified (GM) corn in late 2020, saying it would ban GM corn in the diets of Mexicans and end the use the herbicide glyphosate by Jan. 31, 2024. The new decree eliminated the deadline to ban GM corn for animal feed and industrial use, by far the bulk of its U.S. corn imports. The new plan bans only GM corn used for dough or tortillas but leaves the door open to gradually substituting GM corn for animal feed and industrial use in the future. Some sector experts have said they worry that Mexico's restriction on GM corn, if successful, could set a precedent, prompting other countries to take a similar approach and disrupting the global corn trade. Corn for human food use comprises about 21% of Mexico's corn imports from the U.S., according to a representative from the National Corn Growers Association, citing U.S. Grains Council data.

CHICAGO, Dec 19 (Reuters) - Seeds and pesticides company Corteva Inc (CTVA.N) will eliminate U.S. jobs next year, as its exit from Russia reduces demand for its commercial sunflower seeds produced in California, the company said on Monday. Relocating commercial sunflower seed production to Europe for European customers will reduce costs, Corteva added. Demand for crops grown with Corteva seeds and chemicals is strong after severe weather and the Ukraine war tightened global supplies. The biggest producers and consumers of sunflower seeds are Europe and Russia, the company said. The Woodland facility is Corteva's only one in the United States making "commercial" sunflower seeds for farmers to grow plants for oil or food.

☆ Corteva makes $1.2 bln bid for Stoller Group
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

Nov 30 (Reuters) - Corteva Inc (CTVA.N) will buy biologicals firm Stoller Group Inc for $1.2 billion in cash, the companies said on Wednesday, as it looks to expand its crop protection business. Biologicals related to the agriculture sector are a growing market and expected to represent about 25% of the overall crop protection market by 2035. Corteva has been working toward enhancing its portfolio of crop protection assets and bought Spain-based Symborg in September. The Stoller deal, which is expected to close in the first half of 2023, will be accretive to Corteva's core earnings in 2023, the companies said. Reporting by Arshreet Singh; Editing by Anil D'Silva and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ As war, drought hit global crops, Argentina gambles on GM wheat
▼ + stars: | 2022-09-20 | by ( Maximilian Heath | ) www.reuters.com time to read: +9 min

It was the first GM wheat strain in the world to receive such approval. No other global seed company has publicly endeavored to develop GM wheat since 2004, when giant seed maker Monsanto, now owned by Bayer AG, dropped plans to develop GM wheat that could withstand its weed killer Roundup. In 2020 he had threatened to halt wheat imports from Argentina after its government approved Bioceres' GM wheat. A new landmark is the recent approval in Nigeria, the only country to fully approve imports of HB4 wheat grains. Trucco said Russia's invasion of Ukraine and severe droughts in Europe and China had shifted the needle on drought-tolerant GM wheat.

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