Date: November 24, 2004
Source: News Room
W.R. Grace & Co. (www.grace.com) has announced in a filing with the U.S. Securities and Exchange Commission (www.sec.gov) that it is likely to be indicted in the first quarter of 2005 by a federal grand jury investigating its former vermiculite mining and processing activities in Libby, Montana. The federal government could bring possible obstruction of federal agency proceedings and charges of violating federal environmental laws and conspiracy. Grace owned and operated the vermiculite mine in Libby from 1963 to 1990, and the vermiculite ore found there was contaminated with asbestos that spread throughout Libby. The District Court of Montana has ordered Grace to pay more than $54.5 million in cleanup reimbursements.
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