IBP, inc. has reached an agreement with federal and state officials that ensures continued protection of the environment at several company plant locations. The agreement settles a January 2000 lawsuit filed against the company by the U.S. Environmental Protection Agency (EPA). As part of the settlement, IBP will pay $2.25 million to the EPA and $1.85 million to the state of Nebraska, and will install additional improvements at one of its wastewater treatment plants. In return, the EPA has dropped its lawsuit against the company, as well as its claims of environmental violations by the company. The settlement is not an admission of wrongdoing by the company.