* Ohio - VW Diesel settlement possible boon for heavy-duty truck, engine manufacturers
--- Volkswagen AG’s diesel emission scandal may be one of the best things to happen to American air quality... The German carmaker’s recent legal settlement with states, territories and tribes for cheating on pollution tests requires VW to pay $2.7 billion into an “environmental remediation fund" aimed at cleaning up the damage its cars have done. That could mean grants for new school buses, upgraded port facilities and cleaner tractor-trailers... Several companies stand to gain from the influx of money: Engine makers and truck producers such as Cummins Inc., Caterpillar Inc., Peterbilt Motors Co. and Volvo AB have benefited in the past from federal funding to build environmentally friendly trucks or upgrade older vehicles’ engines... The VW money will be distributed by a trust to be established in late summer or early fall, after the judge overseeing the case formally signs off on the agreement. VW will then make three annual payments of $900 million. The trust agreement specifies 10 possible project areas for which the money can be used... States will be able to request money based on how many tainted VW cars were registered in the jurisdiction, according to Phil Brooks, director of the Environmental Protection Agency’s office of civil enforcement. California will get the most: about $381 million, according to court documents. At the other end of the spectrum will be Puerto Rico, the District of Columbia and a handful of states, each getting $7.5 million...
(Photo: Inside Cummins: This is Columbus MidRange Engine Plant) -- Columbus, OH, USA - Transport Topics - 7 July 2016Labels: engine makers, truckmakers news USA
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