Asbestos & Mesothelioma Law Blog
With origins of its company tracing back to before the Civil War, the Johns Manville Corporation is responsible for a significant amount of the asbestos-containing products sold in the United States. Exposure to microscopic asbestos fibers can lead to the development of mesothelioma and other serious health conditions. In some circumstances, it is possible for victims to recover monetary damages for the harm caused through asbestos-related claims, including mesothelioma litigation.
History of the Company
The H.W. Johns Manville Corporation is the result of a merger between the H.W. Johns Manufacturing Company, which used asbestos to manufacture fire resistant roofing, and the Manville Covering Company, which manufactured asbestos heat insulation. After the merger was completed in 1901, the company began manufacturing insulation and construction products for commercial, industrial, and residential buildings.
Some of the products manufactured by the company include products for roofing, insulation, automotive sheet cylinder packing, acoustical products, and cement, all of which contained some amount of asbestos. The company was also involved in the World War II effort, manufacturing insulation products for Naval Vessels and other war-related products that contained a mix of asbestos and silica. As U.S. involvement in the war increased, the demand for Johns Manville products also increased.
In 1958, the company entered the fiberglass market and by 1974 it had become an industry leader in the manufacturing of fiberglass as well as PVC pipe and asbestos cement pipe. In addition to its manufacturing activities, Johns Manville also owned asbestos mines, including the Jeffrey Mine, an open pit mine located in Canada. The company also exported a significant amount of raw asbestos abroad.
Bankruptcy
The Johns Manville Corporation filed for bankruptcy in 1982 and eventually reorganized in 1988. As part of its bankruptcy reorganization, the company created a trust fund to pay claims made by victims of asbestos exposure that could be traced to the company. It was discovered that the company was aware of the potentially deadly effects of exposure to asbestos fibers, but took steps to conceal that information from workers and consumers.
The Manville Personal Injury Settlement Trust was originally funded with cash, Johns Manville securities, and insurance proceeds. The company was the first asbestos-producing company to file for bankruptcy and establish a trust fund in order to settle all injury claims. To date, hundreds of thousands of victims have been compensated, with over $4 billion in damages paid. The State of the Trust contains quarterly filings with the court that details important financial information related to the trust.
Johns Manville, with over 7,000 employees worldwide, continues to operate today, with its global headquarters in Denver, Colorado. In addition to many of the same industries it has served historically, the company has expanded into industries such as aerospace and wind energy.
Helping Victims
The Johns Manville Corporation is just one of the numerous companies that contributed to the widespread use of asbestos products in the U.S. for much of the twentieth century. If you or a loved one have been injured as a result of exposure to asbestos, speak with an attorney with experience in mesothelioma and other asbestos-related claims. At the Throneberry Law Group, we strive to you to help you obtain the compensation you need.