Item 1. Legal Proceedings
ITEM 1. LEGAL PROCEEDINGS
As previously reported, the Virginia Department of Environmental Quality ("VA DEQ") initiated discussions with the Company regarding certain alleged violations associated with air emissions at the Company’s Hopewell facility. The Company entered into an Order by Consent with the VA DEQ in March 2026, which provided for a civil charge of $2,036,668, of which $25,000 would be paid to the VA DEQ, and the remaining $2,011,668 would be satisfied through (i) supplemental environmental projects protecting the ecosystems and the environment by performing NOx emission reduction capital projects with a required completion date of December 31, 2027 and (ii) paying $250,000 to the VA DEQ for design and/or implementation of wastewater treatment facility measures at the Hopewell Regional Wastewater Treatment Facility.
From time to time, we are involved in litigation relating to claims arising outside of the ordinary course of our business operations. We are not a party to, and, to our knowledge, there are no pending claims or actions against us, the ultimate disposition of which could be expected to have a material adverse effect on our consolidated financial position, results of operations or operating cash flows.
ITEM 1A. RISK FACTORS
There have been no material changes to our risk factors as previously disclosed in Item 1A of Part I of the 2025 Form 10-K, which are hereby incorporated by reference.
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