July 10, 2018

Stanley agrees to $100M cleanup of R.I. Superfund site

Robert Benson Photography
Robert Benson Photography
Stanley Black & Decker's New Britain headquarters.

Two subsidiaries of New Britain manufacturer Stanley Black & Decker have agreed to a $100 million cleanup of dioxin contaminated sediment and soil at a Superfund site in Rhode Island.

Stanley announced Monday it reached a settlement with the U.S. Environmental Protection Agency (EPA) and Rhode Island officials to reimburse the agency for prior costs and remediation of contamination found at Centredale Manor Restoration Project Superfund Site in North Providence and Johnston, R.I.

Stanley subsidiaries Emhart Industries Inc. and Black & Decker Inc., former operators at the site, will clean the area.

Under the cleanup, Stanley will excavate contaminated sediment and floodplain soil from the Woonasquatucket River, including bordering residential and commercial properties along the water.

The cleanup also includes upgrading caps over contaminated soil in the peninsula area of the site, which houses two high-rise apartment buildings.

EPA said the cleanup will help the state reach its goal of making the river fishable and swimmable.

"This settlement demonstrates the tremendous progress we are achieving working with responsible parties, states, and our federal partners to expedite sites through the entire Superfund remediation process," EPA Acting Administrator Andrew Wheeler said.

Under a filing with the U.S. Securities and Exchange Commission, Black & Decker says the settlement resolves the EPA's claims. However, Stanley says litigation continues vs. other potential responsible parties, including the feds and insurance carriers.

Stanley says it increased its reserve for the site by $78 million to about $146 million. The increase will be reflected in Stanley's second quarter financial results.

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