NCR Corporation enters into agreement to resolve Wisconsin Fox River environmental cleanup and related Superfund litigation

United States Government and State of Wisconsin Support Decree Relating to Cleanup Efforts that NCR Began in 2009

DULUTH, Ga., 2017-Jan-18 — /EPR Retail News/ — NCR Corporation (NYSE: NCR) today (January 17, 2017) announced it is resolving the Wisconsin Fox River environmental cleanup and related Superfund litigation by entry into a definitive consent decree with the United States Government and the State of Wisconsin, under which the company expects to finally conclude the longstanding matter. The decree is subject to court approval.

The resolution includes NCR’s commitments to complete the in-river cleanup work designed to remove polychlorinated biphenyls (PCBs) from the river, and to drop a potential legal appeal. It also incorporates elimination of Superfund claims brought against the Company by other parties, discontinuation of the Company’s own such claims and assignments of responsibility for closing out certain final costs.

With the contributions of its former corporate parents and affiliates from the past several decades, NCR has successfully performed the overwhelming majority of the cleanup work to date. NCR is the only company to have consistently been involved in that work from its start in 2009 to the present. Several other parties that had failed to participate in the work have recently entered into their own settlements, which included financial contributions applied toward remediation expenses. The remainder of the cleanup work is expected to be completed over 2017 and 2018. The remediation project, covering 29 miles of the Fox River, is the single largest sediment cleanup project to date in the United States.

“NCR is pleased with the successful resolution of this matter pending the court’s approval, following nine years of complex and protracted litigation involving multiple trials and appeals,” said Edward Gallagher, General Counsel of NCR Corporation. “NCR is pleased to put this matter behind us, and we are also glad to provide the federal and state governments and the people of Wisconsin confidence that the clean-up, which NCR commenced in 2009, will be completed without interruption or delay.”

NCR will agree not to appeal a key decision on which it had previously prevailed, relating to calculation of harm and responsibility at Superfund locations. This eliminates a key litigation risk for the Government.

Upon approval by the court, the decree is expected to bring to an end a set of complex litigations that commenced in 2008. In particular the settlement will provide contribution protection to NCR that will foreclose Superfund litigation claims brought against it by other companies that had contributed to the pollution of the river. NCR is, at the governments’ request, conditionally relinquishing its own affirmative claims for recovery against the same parties. This presumptive end to the litigation removes a substantial part of NCR’s Fox River risks and renders its remaining responsibility readily measurable, and it helps enable NCR’s commitment to complete the cleanup alone.

The settlement also includes arrangements under which other companies that had contributed to the river’s pollution will bear primary responsibility for certain government costs, and for long-term monitoring and maintenance of the remediation work.

The settlement will be funded internally by a non-material increment of approximately $14 million to NCR’s reserve for Fox River discontinued operations, and the continued contributions of its former parent and sister corporations. NCR will not make any settlement payments under the consent decree, but will fund the remediation through contractors and vendors on a pay-as-it-goes basis over 2017-18, as the Company has done for the past 8 years. The impact on free cash flow is anticipated to be modest and at or near prior projections for Fox River expenditures; the settlement is expected to have no material impact on NCR’s free cash flow as a whole for either year. This consent decree settlement would not affect the rights NCR has to pursue what is referred to in the company’s SEC filings as the NCR Adjustment, which is related to funds owed to the Company for prior Fox River remediation payments it made, and which has the potential to create future positive cash flow.

About NCR Corporation

NCR Corporation (NYSE: NCR) is a leader in omni-channel solutions, turning everyday interactions with businesses into exceptional experiences. With its software, hardware and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.

NCR is headquartered in Duluth, Ga., with over 30,000 employees, and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries. All other trademarks or registered trademarks are property of their respective owners.

NCR encourages investors to visit its website, which is updated regularly with financial and other important information about NCR.

Web site: www.ncr.com
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: www.linkedin.com/company/ncr-corporation
YouTube: www.youtube.com/user/ncrcorporation

Contacts:
NCR Corporation
Scott Sykes
212-589-8428
scott.sykes@ncr.com

Source: NCR Corporation

METRO GROUP announces early extension of existing agreement with German Federation of the Tafel food banks

Düsseldorf, 2016-Sep-24 — /EPR Retail News/ — At today’s ( 22 September 2016) reception on the Day of the Tafel Food Bank, METRO GROUP underscored the high priority of its partnership with the German Federation of the Tafel food banks through an early extension of the existing agreement until 2020. With this move, METRO shows its appreciation for a cooperation that has already been running successfully for a decade. The annual Day of the German Tafel Food Banks, a meeting of representatives from the non-profit Tafel organisation as well as friends and sponsors from charities, politics and industry, is held to draw attention to the concerns and achievements of the Tafel food banks, thank its sponsors and donors, and attract new support.

The German Food Bank Federation Deutsche Tafel e.V. acts as the umbrella organisation for the local Tafel food banks in Germany – in total more than 900 across the nation. As its main financial sponsor, METRO GROUP has been supporting the federation in the operation of a professional organisation and in establishing a European network since January 2006. The cooperation with the European Federation of Food Banks, or FEBA for short, will be also pushed forward. For more than 20 years, the sales lines METRO Cash & Carry and Real have been donating food to support the work of the local Tafel food banks on a daily basis. Donations involve products that are still of perfect quality, but can no longer be sold at the stores on account of their approaching best before date.

Heiko Hutmacher, Member of the Management Board and Chief Human Resources Officer of METRO AG, commented: “Retail is a sector that contributes to social cohesion and we at METRO GROUP live up to our responsibilities as a corporate citizen. That is why we are happy and proud that our partnership with the German Federation of the Tafel food banks has been so successful. This is also evident from the fact that our employees, through their personal engagement, organize activities that invite our staff members to get actively involved.” This week, for example, staff working at the METRO Campus in Düsseldorf collected non-perishable food and sanitary products that will be donated to the local Tafel food bank in Düsseldorf as additional support.

One event that has already become a “classic” is the Christmas Charity Meal. For more than a decade, METRO has been offering an entertaining and festive atmosphere for the homeless and people in need of the Düsseldorf Tafel organisation. The food is brought from the company´s canteen and helpful employees take on the service tasks. They organise the processes at the serving counter, serve the food and distribute small seasonal gifts.

METRO GROUP is one of the most important international retailing companies. It generated sales of some €59 billion in financial year 2014/15. The company operates over 2,000 locations in 29 countries and employs more than 220,000 people. The performance of METRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO Cash & Carry, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets.

For more information, please visit www.metrogroup.de.

Contact:
METRO AG
Corporate Communications
Metro-Straße 1
40235 Düsseldorf

Phone +49 (0) 211 68 86-42 52
Fax +49 (0) 211 68 86-20 01

www.metrogroup.de
presse@metro.de
@Metro_Comms

Cepsa and Carrefour renew agreement to continue with the expansion ‘express’ stores in service stations

SPAIN, 2016-Jun-25 — /EPR Retail News/ — On June 13th, Cepsa and Carrefour signed the renewal of the agreement to continue with the expansion ‘express’ stores in service stations. This renewal, which includes the opening of new stores up to 2018.

The companies began their collaboration in 2013 with the opening of ten pilot stores. At present, the network of Cepsa service stations in Spain already includes 175 Carrefour Express stores. This business model has proven a hit with customers and has managed to grow in record time: 75 stores in 2014 and 75 in 2015. Similarly, this year is to see the launch of around 85 further outlets.

The Carrefour Express outlets installed at Cepsa service stations extend the usual range on offer at service station outlets, offering guests the variety of a supermarket at competitive prices, while also offering the Carrefour brand. The aim of the outlets is to offer the user an alternative way to buy supermarket products without leaving the service station, giving the customer a closer, easier and more comfortable shopping experience, without having to travel to other premises.

To this is added the current discounted prices offered on fuel by the two companies. This enables customers to make a 4% saving when refuelling at Cepsa with the Carrefour club card, which becomes 5% during the summer months.

For all request about the Carrefour Group (sales, financial results, governance, international,…), please contact the Carrefour Group media relations office:

By phone:
Switchboard: +33 (0)1 41 04 26 00
For journalists: +33 (0)1 41 04 26 17

By e-mail: presse_groupe@carrefour.com

Cepsa and Carrefour renew agreement to continue with the expansion 'express' stores in service stations
Cepsa and Carrefour renew agreement to continue with the expansion ‘express’ stores in service stations 

Source: Carrefour