W.R. Grace denies wrongdoing, to fight Montana asbestos mine indictment

By Ted A. Knutson

Washington, Feb.9 - W.R. Grace said it denies and will fight the criminal charges in a federal grand jury indictment that it conspired to violate environmental laws at its Libby, Mont., asbestos mining operations and endangered nearby residents.

The indictment was issued Monday.

If found guilty, the company could face fines of up to twice the $140 million in profits the grand jury said Grace earned from the mine.

Grace filed for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on April 2, 2001. Its Chapter 11 case number is 01-01139.

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