Note 11 - CONTINGENCIES

The Company is a defendant in lawsuits incidental to its business. The management of the Company believes, however, that the disposition of these lawsuits will not have any material impact on the financial position or operating results of the Company.

During 2000, the Company settled a lawsuit brought by the United States Environmental Protection Agency in Federal District Court for the District of Connecticut in relation to the disposal of liquid industrial wastes at the Yaworski Lagoon site in Canterbury, Connecticut. The settlement involved the Company’s payment of $3,160,000 in 2000 which was fully provided for in prior years.

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