TOMS RIVER, NJ — A chemical company has reached a $20 million settlement with Toms River residents.

The former Ciba-Geiga Corp., that produced industrial dye and resin from 1952 to 1996, settled the decade-old claims its dumping of toxic waste hurt property values.

The claims were filed by residents of about 700 homes in the Ocean County town located about 70 miles south of Manhattan.