ASARCO files Chapter 11 Bankruptcy
August 10, 2005
"We will meet with state officials next week to act swiftly to protect El Paso's interests"
Written by Senator Shapleigh, Press Release
ASARCO
EL PASO - Today, ASARCO LLC filed for Chapter 11 Bankruptcy in US Federal Court in Corpus Christi. ASARCO has three operations in Texas including a 100 year old smelter operation in El Paso, Texas.
For four years, state Senator Eliot Shapleigh has led the fight to force ASARCO to clean up 1090 contaminated properties in Downtown and Westside El Paso. Over the last month, Shapleigh and the City of El Paso fought ASARCO's request for a state air permit to release 7,000 tons of new pollutants in El Paso/Juarez/Sunland airshed.
Given ASARCO's environmental liabilities around the U.S., Chapter 11 was inevitable. The U.S. government's court ordered agreement with ASARCO ends in 2006, so we will push hard to put El Paso at the top for clean up money. I am very disappointed that the Wardy administration did not act to put liens in place to protect our community,¨ said Senator Shapleigh.
Several months ago, Shapleigh met with state officials urging them to protect El Paso in the event of an ASARCO bankruptcy. We will meet with state officials next week to move swiftly to protect El Paso's interests.¨
Shapleigh said the community's goals have not changed. "Our goals have been the same for four years:
-move to quickly and efficiently remediate the remaining 585 contaminated properties and complete the identification of contaminated properties in the area;
-fight any move to permit ASARCO to release 7,000 tons of new pollutants into El Paso's air; and
-work with state officials now on a redevelopment plan for the ASARCO lead smelter area in Downtown El Paso."
Click here to read ASARCO's press release.
Download this document for more information.
Related Stories