Honeywell's New Jersey Cleanup Could Affect Bottom Line

Date: August 6, 2003

Source: News Room

Honeywell International Ltd. (NYSE: HON) has announced that a federal judge's order to clean up a site contaminated with chromium could have a "material adverse impact" on its financial results. In May, the judge ordered Honeywell, the leading maker of cockpit electronics, to excavate and remove about 1 million tons of chromium residue on a site along the Hackensack River in New Jersey. The excavation and offsite disposal cost might be $400 million. Honeywell has appealed the court's decision.
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