Chinese drywall manufacturer Knauf Plasterboard Tianjin Company (“Knauf”), has agreed to pay to repair 300 homes in four states in a remediation pilot program. Owners of homes in Florida, Louisiana, Alabama and Mississippi with drywall manufactured by Knauf will be eligible to participate in the program. Reportedly, a Louisiana based supplier and several home builders and insurers are contributing to the cost of the repairs.
More than 3,000 claims are pending against Knauf. The pilot remediation program might provide the framework for a larger settlement.