Norfolk Southern (NSC) and the Village of East Palestine said Monday they have agreed to a $22 million settlement resolving all claims by the Village stemming from the February 2023 train derailment.
The settlement recognizes the $13.5 million Norfolk Southern has already provided to the Village, and reaffirms the company's $25 million commitment to improvements at East Palestine City Park, according to the joint statement.
The parties said they decided not to proceed with a planned regional safety training center, citing feasibility concerns. Norfolk Southern will transfer ownership of 15 acres acquired for the project to the Village for alternative use and will continue first responder training in other regional locations, they added.
Shares of Norfolk were more than 4% lower in recent Tuesday premarket activity.
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