Nearly three years after a chemical explosion rocked a Danvers neighborhood, homeowners have received their share of a settlement with two companies.
The Nov. 22, 2006 pre-dawn blast at an ink and paint factory shared by CAI Inc. and Arnel Co. damaged 270 local homes and businesses. No one was killed or seriously injured.
The Boston Globe reports that most of the $7 million settlement with CAI and Arnel went to insurance companies who have already paid claims to policy holders.
Homeowners split up $900,000 set aside under the settlement for uninsured losses.
Rich and Stacy Stamm, who bought their home one day before it was destroyed in the explosion, said what they received in the settlement was a “drop in the bucket.”
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