A former New Bedford manufacturing company has agreed to pay more than $366 million — the largest cash settlement in the history of the federal Superfund program — to clean up the PCB-laden New Bedford Harbor within seven years. The South Carolina-based AVX Corp., whose predecessor, Aerovox Corp., operated an electrical capacitor plant on the harbor for more than three decades until the 1970s, agreed to the cash settlement to accelerate dredging of the harbor. PCBs are considered a probable human carcinogen.
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