Michigan Seamless Tube, LLC - An Emsource Consulting Engagement
Client: Atlas Holdings, LLC
Location(s): South Lyon, Michigan
Cost Range: up to $5 million
- Acquire high-quality manufacturing assets through Chapter 11 bankruptcy proceedings, re-start the plant, and restore 200 jobs jeopardized by the bankruptcy.
- Ensure that the new entity will be a responsible corporate citizen, and have the capacity to remain in compliance with current and future environmental requirements.
- Quantify and assume responsibility for ongoing operation and maintenance of a completed RCRA landfill closure, while limiting cost exposure to future unknown environmental problems.
- Obtain a cost-competitive long-term environmental insurance program to provide financial assurance to investors that environmental problems will not derail the new enterprise.
RISK TRANSFER PROGRAM
Risk Transfer Category: Ongoing manufacturing operation, state-regulated landfill O&M, ongoing groundwater assessment program.
Project Insurance Program:
- Pollution legal liability insurance program
- RCRA closed landfill
- Michigan BEA registered site
Unique Project Features:
- Insurance provider covered all known conditions identified under a state-mandated Baseline Environmental Assessment, as well as pre-existing unknown conditions
- Project covers risks over a 10-year term
Emsource Project Team:
- Environmental Engineers & Consultants: Horizon Environmental Corporation
- Insurance Broker: Marsh USA (Boston)
- Insurance Company: XL Environmental
- Legal Advisors: Verrill Dana, LLP
- Regulatory: Michigan DEP