Dow ordered to pay $653m in nuclear case

03 June 2008 21:38  [Source: ICIS news]

HOUSTON (ICIS news)--Shares of Dow Chemical were down slightly on Tuesday following reports that the US chemicals major was ordered to pay $653m (€418m) in a Colorado nuclear contamination lawsuit.

US District Judge John Kane ordered the payment to residents who claim contamination from a Rocky Flats nuclear weapons facility reduced their property values.

The judge also ordered Rockwell International to pay $508m.

However, Kane ordered total compensatory damages not to exceed $726m.

Kane ordered Dow to pay nearly $111m in exemplary damages and for Rockwell International to pay $89m in exemplary damages.

Dow has said it intends to appeal the order.

Shares of Dow on the New York Stock Exchange were trading on Tuesday afternoon at $39.18, down 66 cents.

($1 = €0.64)

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By: Brian Ford
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