Judith Enck Statement on GE Hudson River Decision

Judith Enck

Statement on GE Hudson River Decision

Judith Enck
Regional Administrator,
U.S. Environmental Protection Agency (EPA)

December 23, 2010

"EPA commends GE on its decision to conduct the second and final phase of the Hudson River cleanup. The decision sets us on a clear path to a cleanup of PCB-contaminated sediment that is based on the best science and will remove huge quantities of this dangerous chemical from the river.

Over the next few months, we will work with GE on technical plans for the cleanup. We are scheduled to resume dredging this spring. This is an important milestone in the progress we have made over many years in cleaning up and restoring the Hudson River for future generations."

Press inquiries: call Bonnie Bellow, 212-637-3660 or cell phone 646-369-0062
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GE announced today that it has advised the U.S. Environmental Protection Agency (EPA) that it will perform the second and final phase of the Hudson River dredging project.

GE also said it will take an after-tax charge of about $500 million in the fourth quarter of 2010 to help fund the remainder of the project. As discussed on December 14 with securities analysts, GE expects that positive items, including a favorable tax settlement, will offset this charge. GE expects this step will resolve future uncertainty regarding Hudson dredging liabilities.

GE’s goal is to resume dredging in late Spring 2011. The company’s dredging team already has begun to refine the engineering design for Phase 2, based on technical discussions with EPA and the recommendations of the panel of independent scientists who evaluated the first phase of dredging. GE expects to submit the plans to EPA for review and approval in February.

For more information: Mark Behan 518-792-3856 http://www.hudsondredging.com/