By P.R. Venkat
Sotera Well being Co.’s subsidiaries have reached an settlement to settle a case in opposition to Sterigenics underneath which the latter pays $408 million.
The subsidiaries have reached agreements to settle the greater than 870 ethylene oxide circumstances pending in opposition to Sterigenics within the Circuit Court docket of Cook dinner County, Illinois, and the US District Court docket for the Northern District of Illinois, Sotera stated in an announcement.
The administration and completion of the settlement agreements is anticipated to require as much as 90 to 120 days.
Sterigenics will fund an escrow account to pay the settlement by Might 1, 2023, it stated.
“Sterigenics and Sotera Well being deny any legal responsibility and the agreements explicitly present that the settlements are to not be construed as an admission of any legal responsibility or that emissions from the Willowbrook services ever posed any security hazard to the encompassing communities,” the assertion stated.
Write to P.R. Venkat at venkat.pr@wsj.com