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Bhopal
The tragedy that occurred in Bhopal more than 19 years ago should never be forgotten. Industry, including Dow, has learned from such events and we try to do all we can to assure that similar incidents never happen again.
After the Bhopal tragedy, several provisions were made by agreements between Union Carbide Corporation, Union Carbide India Limited and the government of India, under the supervision (and with the approval) of the Indian Supreme Court, for the current and future health needs of the community, including opening of a new $90 million hospital, health insurance and a settlement fund, of which $333 million remains after virtually all claims have been processed, as a result of accrued interest over the years. Substantial environmental remediation occurred at the site after closure of the plant in 1984. The Indian state government of Madhya Pradesh unilaterally revoked the lease under which the company then called Eveready Industries India Ltd. (owned by MacLeod Russell since 1994) operated the plant and took exclusive possession of the plant site in 1998, stating that it would assume responsibility for the remaining cleanup of the site. At that time, government-sponsored studies showed no adverse impact from the plant site to the community's groundwater.
We respect that, for some people, responsibility for Bhopal continues to be an unresolved issue. This doesn’t change the facts that the Government of India, through the Settlement agreement, has full authority and responsibility over issues arising from the tragedy and that, upon acquiring Union Carbide, Dow inherited no responsibility. Still, some people would have us take action to resolve their concerns. We do not believe such action would be appropriate or consistent with our obligation to protect our shareholders' interests.
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