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Business Crimes Hotline
NEVADA
TIMET Agrees to Largest Penalty Ever for Single-Facility TSCA Violations
On May 14, the Department of Justice (DOJ) announced that it had reached an agreement with Titanium Metals Corporation (TIMET), a Philadelphia-based producer of titanium parts for jet engines, in connection with the DOJ's investigation of potential Toxic Substances Control Act (TSCA) violations at TIMET's Henderson, NV, facility. Since 2012, TIMET has been a wholly owned subsidiary of Portland, OR-based Precision Castparts Corporation. TIMET and its parent company have been working with the Environmental Protection Agency (EPA) since 2007 to bring the Nevada facility into compliance, principally to resolve concerns about the production of polychlorinated biphenyls (PCBs) and TIMET's wastewater disposal practices. PCBs are a byproduct generated by the processing of titanium from rutile ore.
Per the terms of the settlement ' in the form of a consent decree that will be finalized following a public comment period and subsequent judicial approval ' TIMET agreed to pay a $13.75 million civil fine, pay an additional $250,000 in connection with violations of the Resource Conservation and Recovery Act (RCRA), conduct further investigation into its related activities, and conduct additional clean-up processes at the facility. While TIMET has already spent $6 million on investigation and clean-up to date, as announced by the Government, the Company estimates that the consent decree obligations will cost it an additional $1 million to fully implement
'
NEVADA
TIMET Agrees to Largest Penalty Ever for Single-Facility TSCA Violations
On May 14, the Department of Justice (DOJ) announced that it had reached an agreement with
Per the terms of the settlement ' in the form of a consent decree that will be finalized following a public comment period and subsequent judicial approval ' TIMET agreed to pay a $13.75 million civil fine, pay an additional $250,000 in connection with violations of the Resource Conservation and Recovery Act (RCRA), conduct further investigation into its related activities, and conduct additional clean-up processes at the facility. While TIMET has already spent $6 million on investigation and clean-up to date, as announced by the Government, the Company estimates that the consent decree obligations will cost it an additional $1 million to fully implement
'
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