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|NCR Announces Court Approval of Fox River Consent Decree|
“Approval of this settlement should help bring to a conclusion this
longstanding matter relating to cleanup efforts that NCR began many
years ago,” said
The Court-approved consent decree includes NCR’s commitments to complete
the in-river cleanup work and to drop a potential appeal. It also
incorporates the limitation of Superfund claims brought against the
Company by other parties and discontinuation of the Company’s own such
claims, and it envisions assignments of responsibility to other
companies for certain future tasks. The decision, by the
With the contributions of its former corporate parents and affiliates from the past several decades, NCR has successfully performed the majority of the cleanup work to date. NCR is the only company to have consistently been involved in that work from its start in 2009 to the present.
NCR will not make any settlement payments under the consent decree, but will fund the remediation through contractors and vendors on a pay-as-it-goes basis. The settlement is expected to have no material impact on NCR’s free cash flow or its Fox River reserve, which was adjusted to account for the settlement and reported on earlier this year in NCR’s Form 10-K for 2016.
About NCR Corporation
NCR is headquartered in Duluth, Ga., with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries. All other trademarks or registered trademarks are property of their respective owners.
NCR encourages investors to visit its website, which is updated regularly with financial and other important information about NCR.
Forward-Looking Statements. This press release contains
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements use words such
as “expect,” “anticipate,” “outlook,” “intend,” “believe,” “will,”
“should,” “would,” “could” and words of similar meaning. Statements that
describe or relate to NCR’s plans, goals, intentions, strategies or
financial outlook, and statements that do not relate to historical or
current fact, are examples of forward-looking statements.
Forward-looking statements are based on our current beliefs,
expectations and assumptions, which may not prove to be accurate, and
involve a number of known and unknown risks and uncertainties, many of
which are out of NCR’s control. Forward-looking statements are not
guarantees of future performance, and there are a number of important
factors that could cause actual outcomes and results to differ
materially from the results contemplated by such forward-looking
statements, including those factors described in NCR’s filings with the