Rohm and Haas to Receive $43M Settlement

Philadelphia-based Rohm and Haas Company reports it has reached a settlement with certain insurance underwriters at Lloyd’s of London, for $43 million before tax.

The settlement resolves payment under policies with these underwriters for all existing and future claims for environmental and other liabilities. Rohm and Haas said it will receive the payment from Lloyd’s before the end of the year and will apply the proceeds to debt reduction.

Rohm and Haas is a maker of specialty chemicals and materials, operating more than 100 manufacturing and technical centers around the world. Its products are used to enhance the performance of everything from semiconductor chips to household products and consumer paints.