Michigan Seamless Tube, LLC - An Emsource Consulting Engagement

PROJECT PROFILE
Client: Atlas Holdings, LLC
Location(s): South Lyon, Michigan
Cost Range: up to $5 million

Client Objectives:

• 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 

Project Profile:

• 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