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(Sharecast News) - Melrose Industries on Tuesday said it was opening a $100m claims programme for residents and businesses affected by the May evacuation around the Garden Grove facility in the US run by its GKN Aerospace unit, after a chemical tank containing thousands of gallons of methyl methacrylate overheated and forced authorities to clear a wide area for several days.
In its latest update, Melrose said the Orange County District Attorney has now closed its criminal investigation with no charges, while the company targets September 28 for a full manufacturing restart after permanently decommissioning the tank and investing in safety upgrades.
The scheme, which will open in the coming weeks and run into 2027, will reimburse hotel stays, meals, transport, lost wages and loss of use, following an incident that saw emergency crews dousing the tank for days amid fears of a rupture or vapour explosion.
Civil matters, including emergencyservices cost recovery and potential enforcement penalties, remain separate, and the group's insurance position is still under review.
Reporting by Frank Prenesti for Sharecast.com
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