973-750-1500 Financial Solutions and Strategies for Environmental Risks
Financial Solutions and Strategies for Environmental Risks

TBLS Representative Experience

Energy

  • Oil Company $120 Million Environmental Liability Buyout (Confidential Client) – Conducted complex environmental liability valuation on behalf of client and USEPA with respect to a town impacted by releases. Valuation served as foundation for liability buyout negotiations.
  • BP/Conoco Phillips Acquisition Conducted post-merger environmental cleanup of 800 facilities. Received No Further Action rulings (NFAs) from regulator in less than two years, enabling site transfer to Conoco/Phillips.
  • Conoco Phillips/Unocal Acquisitions Conducted due diligence on 78 downstream facilities to be acquired by ConocoPhillips from Unocal. Project included both Phase I & II ESA investigations as part of M&A transactions.
  • Williams Companies/Tesoro Terminal M&A – Conducted environmental liability valuations and audits of over 30 marine, pipeline and distribution terminals in under three weeks as part of acquisition transaction by Williams Pipeline Company.
  • Premcor/Valero Refineries M&A – Performed valuations and due diligence audits of eight Premcor refineries to enable M&A transaction.
  • Chinese Petroleum Corporation (CPC) – Certified by World Bank as environmental cleanup expert. Assisted CPC and Republic of China Government by teaching CPC’s staff and at Republic of China Research Institute (ITRI). Guided design for CPC’s first bioremediation cleanup for six WW II-era marine and refinery terminals.
  • Exxon Mobil/BP Oil Acquisitions – Environmental investigation and valuation of 800 contaminated sites on the U.S. west coast as part of acquisition transactions by BP Oil. Work included remediation of more than 200 sites following their acquisition by BP Oil.
  • GATX/Shore Terminals (Kinder Morgan) – Conducted environmental studies for three marine terminals as part of a divestiture by GATX to Shore Terminals (now Kinder Morgan).
  • FMN Railroad Fueling Terminal (FMN), Guadalajara, Mexico – Successful forensic analysis of failed 200-acre remediation system. Earlier spill caused sewer-line explosions and deaths. Conducted over 20 site remediations for FMN.
  • PetroCan – Consultant on major spill from pipeline into Fraser River in Canada.
  • Chevron Terminal – Consultant on major spill into Columbia River, Washington State, at Chevron marine terminal.
  • Mobil/Exxon – Remediation and ongoing environmental studies for over 50 Mobil/Exxon facilities, including RCRA cleanup of a major marine terminal and asphalt plant on Willamette River in Portland, Oregon.

Food & Beverage

  • Trident Seafood – Conducted environmental audits of 11 Trident Seafood processing facilities meeting ISO standards.

Mining

  • Freeport McMoran (Phelps Dodge) – Clean Water Act studies at various mine sites in Arizona.
  • BP Minerals (Anaconda Copper) – Performed environmental valuation of two operable units of the Anaconda Superfund site (Butte Priority Soils and Milltown Dam Sediment Removal). Cleanup accomplished via $70 million liability buyout.
  • Bunker Hill Superfund Site – Environmental liability valuation for several operable units as part of environmental insurance placement and policy monitoring.
  • Asarco Copper Smelter – Performed environmental liability valuation, file review and audit during bankruptcy proceeding (Tacoma, WA).
  • Asarco Bankruptcy – Environmental liability valuation of U.S.-based facilities for risk transfer/cost-cap insurance placement.

Transportation

  • Georgia Pacific/Port of Bellingham – Performed liability valuation and consulting for $30 million liability transfer of three Superfund sites, including a pulp and paper mill (which was Georgia Pacific’s corporate headquarters prior to acquisition by Koch Industries) and 15 other properties.
  • Port of Tacoma – Valuation and consulting for liability buyout of Thea Foss waterway operable unit (Commencement Bay Superfund Site), including sediment remediation method guarantee and cost-cap for the Port of Tacoma.
  • Foss Tug & Barge – Valuation for Middle Waterway Operable Unit of Commencement Bay Sediment Superfund site.
  • Port of Seattle & Port of Portland –Environmental audits and valuations of the marine portions of environmental insurance policy placements.
  • SeaTac Airport – Multi-year environmental audits for 50 airports and ancillary repair facilities operated by the Port of Seattle. Project included the pipeline-fueling terminal operated by Olympic Pipeline Company, a subsidiary of BP Oil.
  • Portland International Airport – Multi-year audits of the airport including its stormwater pollution prevention systems, de-icer programs, fueling programs and aircraft repair facilities, on behalf of AIG Environmental.
  • City of Phoenix, Sky Harbor Airport – Implemented emergency response action for leak at aircraft fueling terminal.
  • Todd Pacific Shipyards  – Monitoring consultant and senior manager for AIG Claims for a 430-acre Operable Unit cleanup (2000-2004). Cleanup accomplished to spec at 50% of original cost estimate due to innovative practices and careful management. Received an EPA award for one of the best sediment remediation projects.
  • Lockheed Shipyards/Port of Seattle Liability Buyout Conducted environmental valuations of two shipyards being divested by Lockheed Martin to the Port of Seattle. Represented the insurance carrier providing cost-cap insurance and finite risk program for the transfer.
  • Hertz Corporation – Conducted Phase I, II and III studies under a National MSA for multiple sites, developed innovative remediation solutions. 

Real Estate including Real Estate Investment Trusts (REITs)

  • Adak Island BRAC (Defense Base Realignment and Closure Act) Transfer – Valuations of over 1,000 impaired sites. Reduced estimated cleanup costs to $200 million from $1.5 billion, enabling deal closing between Navy and Aleut Corp.
  • Pulte Group – Conducted pesticide-impacted soil remediations, including source removal, chemical fixation, QA/QC testing and deep-soil mixing.
  • Washington State – Represented insurance industry on Governor’s Lead/Arsenic Task Force. Resulted in creation of risk-based standards for airborne dispersal from copper smelters and impact standards for arsenic pesticide used in fruit orchards.
  • Brownfields Conducted hundreds of Phase I, II and III ESAs for developers, including Vulcan, Prologis, Cushman, Wakefield, Vornado and Grubb & Ellis. Quantified environmental risk, provided negotiation, purchase & sale and litigation support along with long-term remediation design. Two projects became USEPA/State Brownfield Showcase projects.
  • Pacific Gas & Electric – Valuation of a former PG&E gas plant cleanup on behalf of a Brownfield developer working for the City of San Rafael, CA.
  • Prologis REIT – Performed remediation cost estimating for 34 light industrial warehouse sites in New Jersey (2006). Negotiated first-of-its kind lease for storm-water reuse rights relating to roof real estate as part of NRD settlement option for industry.
  • Portland Oregon Shipyard Performed sediment remediation valuation and prepared upland cleanup plan in support of a finite insurance program for a national Brownfield developer (2005, 2006).

Industrial

  • Ford Motor Company – Performed divestiture investigation and remediation for a Ford Motor plant in Tigard, Oregon.
  • General Motors – Conducted investigations and remediation for General Motors plants in Mexico and Brazil.
  • Goodyear Tire & Rubber – Served as contract negotiator and senior oversight manager for construction of DNAPL sparging remediation system at Superfund site in Phoenix, Arizona as well as 40 other projects in Canada and the U.S.
  • General Electric – Performed Remedial Investigation/Feasibility Study (RI/FS) (USEPA equivalent) with respect to facility in Rio de Janeiro, Brazil.
  • United Technologies – Conducted Phase I ESAs for new manufacturing facility expansion worldwide.
  • Standard Brands – Environmental auditing of ceramic plant for American Standard.

Chemical/Pharma

  • Hoffman LaRoche – Performed Natural Resource Damage (NRD) environmental liability valuation for site in Nutley, New Jersey using an innovative settlement process.
  • Reichhold Chemical – Worked on Remedial Investigation/Feasibility Study (RI/FS) for a phenol plant in Atlacomulco, Mexico.
  • Aventis/Sanofi – Performed valuation as part of a cost-cap insurance policy placement for a pesticide plant in Portland, Oregon.
  • Hoechst Celanese – Performed multi-year Remedial Investigation/Feasibility Study (RI/FS) of a nylon manufacturing facility in Salamanca, Mexico.
  • Arkema/Atofina – Valuation of a pesticide plant and the ensuing sediment Superfund site for the Hylebos Waterway Operable Unit of the Commencement Bay Superfund site.
  • Stepan Chemical – Performed NRD environmental liability valuation of plant in Maywood, New Jersey.
  • Kalama Chemical – Conducted environmental audit of Kalama Chemical.
  • Reichhold Chemical – Completed Remedial Investigation/Feasibility Study (RI/FS) equivalent for a phenol plant in Atlacomulco, Mexico.

Electronic Manufacturing

  • SEH (Shin Etsu) America – Conducted ISO 9001 environmental audits of silicon wafer manufacturing facilities.
  • Micron Technologies – Performed facility environmental audits in Idaho on behalf of AIG Environmental.
  • Motorola – Phase I ESA studies for Motorola in People’s Republic of China and India as part of their manufacturing base expansions.
  • Motorola – Decommissioning of silicon chip plant in Oregon (uniquely shipped to People’s Republic of China) for Oregon Graduate Institute.
  • General Battery – Conducted Phase II and III studies for multiple sites

Financial

Performed expert environmental “peer review” services for due diligence purposes for commercial lending units of various banks and financial institutions.Provided environmental and forensic claim support relating to M&A acquisitions and environmental orphan liabilities for bank trust departments of the following banks and commercial lenders:

  • KeyCorp
  • US Bancorp
  • Washington Mutual (now JPMorgan Chase)
  • Bank of America
  • GE Capital

Retail

Performed Phase I and II ESA studies for multiple sites for the following clients:

  • Costco
  • Rite Aid
  • Nordstrom

Landfills and Other Waste Facilities

Conducted and provided ESA Phase I, II and III studies, wood waste studies, stormwater prevention plans, valuation, auditing, claims monitoring, post-closure care and other services for the following:

  • Shaw Group – Six hazardous waste landfills undergoing closure and post-closure care as part of placement of a finite risk policy with AIG Environmental (California).
  • Republic Waste – Sixteen landfill closure/post-care reserves as part of a finite risk policy placement.
  • Zanker Recycling – four construction debris landfills (Bay Area, California).
  • Landfill Gas-to-Energy – Conducted for major financial institution with respect to multiple landfill gas-to-energy sites as part of tax credit due diligence.
  • Low-Level Rad Waste Facility/Closure & Post-Closure – sufficiency of reserves valuation.

Environmental Studies – including stormwater prevention plans and environmental investigations of numerous wood waste landfills in Oregon:

  • RSG Timber
  • Boise Cascade
  • Weyerhaeuser
  •  Part A” RCRA Closure – Closure of a waste pile impacted with pentachlorophenol. The waste pile was the source of an area-wide environmental contamination issue involving the inadvertent re-use of treated wood as animal bedding, which caused farm livestock to die. The material was gathered up from various farms and transported for chemical incineration.

Wood Products

  • Menasha Corporation, Grays Harbor Paper & Georgia Pacific – Conducted yearly ISO environmental audits.
  • Koppers (now Beazer), Western Wood Preserving Company, St. Marie’s Creosote, All-Weather Wood, Baxter Creosote Conducted environmental audits and performed valuations.
  • Lower Fox River Sediment Superfund Site – Valuation of sediment remediation as part of a finite risk-transfer and cost-cap policy placement on behalf of Appleton Paper (now NCR).
  • Port Blakely, RSG, Boise Cascade and Weyerhaeuser Conducted Phase I and II ESAs and environmental audits of lumber mills and timber holdings.
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