Wednesday, November 18, 2015

Carlyle's PQ Corporation Fined $1.7 Million for Pollution

Philadelphia Business Journal reported:

The Pennsylvania Department of Environmental Protection (DEP) has fined chemical company PQ Corp. $1.7 million for air quality violations in Chester, Pa.

According to quarterly emissions reports submitted by PQ to the DEP, the Malvern-based company exceeded several permitted emission limits for pollutants like carbon monoxide and nitrogen oxides, and failed to satisfy the data availability requirements for their systems. The assessment covers the period between August 2011 and June 2013.

It is majority owned by private equity firm The Carlyle Group, which bought the company in 2007 for $1.5 billion.
In this case PEU stands for PEU.  The company happens to be owned by The Carlyle Group and a smattering of private equity underwriters.