April 12 (Reuters) - Johnson Controls ( JCI ) said on
Friday its subsidiary had agreed to a $750 million settlement
with some U.S. public water organizations that had detected
"forever chemicals" allegedly associated with the use of certain
products made by the company.
The settlement does not constitute an admission of liability
or wrongdoing by Tyco Fire Products, Johnson Controls ( JCI ) disclosed
in a regulatory filing, adding that a charge for the amount was
recorded in the second quarter ended March 31.
In 2023, lawsuits associated with "forever chemicals" or
PFAS, which do not easily break down in the human body or
environment, led to over $11 billion in settlements.
Earlier this month, 3M received a court approval for its
$10.3 billion settlement with a host of U.S. public water
systems to resolve water pollution claims tied to "forever
chemicals."
On Thursday, the U.S. Environmental Protection Agency
finalized the first federal regulations on toxic "forever
chemicals" in drinking water, setting tight limits on the amount
of PFAS present in public water.
Tyco expects to pay $250 million in settlement by May, and
the remaining $500 million after six months of the preliminary
court approval of the settlement.
The preliminary approval is expected around mid-May from the
United States District Court for the District of South Carolina,
a multi-district legislation court.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Shinjini
Ganguli)