Owens Corning Asbestos Belief & Publicity
The Owens-Corning Company is a big firm that develops and produces insulation, roofing tiles, and fiberglass composites.
Get Assist Now with Owens Corning Asbestos Chapter Belief
For those who or a beloved one labored at this company and has been identified with mesothelioma or one other asbestos-related illness, a mesothelioma lawyer at Goldberg, Persky & White P.C. may help you with submitting mesothelioma claims.
Lawyer assist with Asbestos Chapter Belief for Owens Corning
In case you are an lawyer or a regulation agency attempting to file an asbestos declare with Owens Corning Asbestos Belief, we may help you. The legal professionals at Goldberg, Persky & White P.C. have been preventing for victims of asbestos publicity for over 40 years. Give us a name immediately.
- Trade: Basic Constructing Supplies, Composites
- Based: Toledo, OH (1938)
- Years Operated: 1938-Current
- Headquarters: Toledo, OH
Firm Historical past
In 1935, two main American glassworks firms (Owens-Illinois and Corning Glass), merged to create the Owens-Corning Fiberglas Company. The newly fashioned world firm had already reached gross sales of $2.6 million by 1938. Because of additional growth of supplying further merchandise apart from fiberglass, the corporate determined to shorten its identify to the Owens-Corning in 1996.
This firm was the primary to supply efficient and reasonably priced fiberglass insulations sought by householders and builders nationwide. Such merchandise have been particularly in demand all through the post-World Struggle II housing increase. Whereas the corporate turned public in 1952, from the 1960s to the 1980s they continued to increase into new markets – and in 1957 the “Consolation Conditioned House” program was launched to advertise residential insulation gross sales.
Nonetheless, the 1980s turned a troublesome yr for the corporate. Whereas dealing with massive debt ($2.5 billion), the development and new house constructing hit a tough patch in 1989. Moreover, the hurt attributable to the asbestos used of their merchandise for many years caught up with the corporate as hundreds of lawsuits in opposition to started to movement in – forcing the corporate to file for chapter.
The decline of the corporate continued all through the 1990s as that they had been the defendant in roughly 84,500 asbestos-related lawsuits. Though in 1997 Owens-Corning acquired one other producer generally known as Fibreboard Company this in the end positioned them as a bigger legal responsibility for lawsuits since that producer had additionally beforehand utilized asbestos inside their merchandise.
Asbestos Use in Merchandise
The expansion of the corporate was primarily in a part of the expansion in demand for fiberglass insulation, because it had develop into the popular insulation in houses and companies throughout the nation. Nonetheless, insulating merchandise have to be warmth and fireplace resistant – which is why asbestos was included into the corporate’s supplies. Earlier than it was thought of a dangerous carcinogen, the fireplace/warmth resistant properties, easy accessibility, and affordability of asbestos made it an interesting product ingredient to firms.
Till the early to mid-1970s most Owens-Corning merchandise contained asbestos together with the next merchandise:
- Chilly storage programs
- Duct insulation
- Tools insulation
- Insulating block
- Insulating roof tiles
- Laminated panels
- Pipe insulation
- One Cote Insulating Cement
- OCF Mastic
Moreover, Fibreboard utilized asbestos inside their merchandise – particularly flooring coating, gypsum board, insulating cement, insulating tape, paper insulation, pipe masking, roofing felt, and roof paint.
Owens Corning Asbestos Publicity
The corporate’s preliminary success price locations its merchandise in numerous settings – mostly together with houses, companies, and U.S. Navy ships or different cargo ships. Consequently, many employees, members of the family, and/or shoppers confronted asbestos exposure.
The next occupants are thought of to be at higher-risk:
- Building employees
- Demotion employees
- Army veterans
- Owens-Corning manufacturing facility employees
- Shipyard employees
Not solely have been such employees or shoppers in danger – however family members that will have additionally confronted secondary publicity as properly. Such a publicity could happen when a person unknowingly brings house the harmful fibers on their work garments, hair, and pores and skin.
Whereas the utilization of asbestos has considerably decreased and efforts to guard employees in opposition to the dangerous fibers have strengthened, those that have beforehand confronted publicity are nonetheless susceptible to uncommon, life-threatening illnesses equivalent to mesothelioma.
Owens Corning Asbestos Belief and Litigation
By 1990 alone, Owens-Corning was the defendant in roughly 84,500 lawsuits associated to asbestos. Moreover, an estimated 3,000 people per month developed an asbestos-related illness regardless of the sale of Owens Corning’s final asbestos product in 1972.
The acquisition of Fibreboard solely elevated the quantity such lawsuits introduced on by injured employees, members of the family, and shoppers. So as to deal with the growing asbestos-related claims filed in opposition to Owens-Corning, the corporate was required to put aside funds to compensate present and future victims after submitting for Chapter 11 chapter in 2000. Thus, in 2006, the Owens Corning Fibreboard Asbestos Private Damage Belief, Owens Corning Subfund and Fibreboard Subfund was created through the reorganization.
The belief was funded with practically $7 billion in liabilities and since 2008 has paid out greater than $361 million to claimants.
Like many firms, the executives at Owens-Corning determined to show a blind eye to the recognized hazards of asbestos and labeled their merchandise as non-toxic. Though they continue to be in enterprise immediately and produce asbestos-free merchandise, their earlier negligence has resulted in unchangeable damages. For those who or a beloved one has been affected by asbestos-exposure from Owens-Corning – or any firm that utilized asbestos merchandise – and are in search of skilled assist, contact us immediately. Our asbestos-disease consultants will get the solutions you want.