Learn: Risk Factors
Major Fabricated Metals Manufacturer -
Annual Report and Risk Concerns/Named as Party to Superfund:
Below is an excerpt from Valmont Industries’ Annual Report – the Risk Factors section. They are a publicly traded producer of fabricated steel goods, and list the potential of being named in Superfund cleanups as one of their major concerns.
BETTER SAFE THAN SORRY...
Valmont Industries, Inc. (VMI)
(Exact name of registrant as specified in its charter)
(State or Other Jurisdiction of Incorporation or Organization)
One Valmont Plaza,
(Address of Principal Executive Offices)
(I.R.S. Employer Identification No.)
(Registrant's telephone number, including area code)
ITEM 1. BUSINESS.
(a) General Description of Business
We are a diversified global producer of fabricated metal products and are a leading producer of steel, aluminum and composite pole, tower and other structures in our Engineered Support Structures (ESS) segment, steel and concrete pole structures in our Utilities Support Structures (Utility) segment and are a global producer of mechanized irrigation systems in our Irrigation segment.
We could incur substantial costs as the result of violations of, or liabilities under, environmental laws.
Our facilities and operations are subject to U.S. and foreign laws and regulations relating to the protection of the environment, including those governing the discharge of pollutants into the air and water, the management and disposal of hazardous substances and wastes, and the cleanup of contamination. Failure to comply with these laws and regulations, or with the permits required for our operations, could result in fines or civil or criminal sanctions, third party claims for property damage or personal injury, and investigation and cleanup costs. Potentially significant expenditures could be required in order to comply with environmental laws that regulators may adopt or impose in the future.
Certain of our facilities have been in operation for many years and, over time, we and other predecessor operators of these facilities have generated, used, handled and disposed of hazardous and other regulated wastes. We detected contaminants at some of our present and former sites, principally in connection with historical operations. In addition, from time to time we have been named as a potentially responsible party under Superfund or similar state laws. While we are not aware of any contaminated sites that are not provided for in our financial statements, including third‑party sites, at which we may have material obligations, the discovery of additional contaminants or the imposition of additional cleanup obligations at these sites could result in significant liability beyond amounts provided for in our financial statements.