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Transite originated as a brand that Johns Manville, an American company, created in 1929 for a line of asbestos-cement products, including boards and pipes. [1] In time it became a generic term for other companies' similar asbestos-cement products, and later an even more generic term for a hard, fireproof composite material , fibre cement ...
In the prior two decades, 27 companies filed for protection under Chapter 11 because of asbestos litigation. Since 1994, U.S. Gypsum was named in more than 250,000 asbestos-related personal injury claims, and paid more than $450 million (before insurance) to manage and resolve asbestos-related litigation.
In 1943, Johns-Manville suppressed a report confirming the link between asbestos and cancer. During the 1960s, 1970s and 1980s, the company faced thousands of individual and class action lawsuits based on asbestos-related injuries such as asbestosis, lung cancer and malignant mesothelioma. Many new settlements included offering $600 for ...
As of December 31, 2023, the company has 533 locations throughout all 50 states in the U.S. and six Canadian provinces, and over 8,000 employees. [4] In addition to roofing, local divisions may also sell windows, siding, decking, waterproofing and other external building products. [5] [6] The company is currently headquartered in Herndon ...
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The company was ordered to pay $5 million to an asbestos victim in 1997, making it the highest jury verdict in the history of the United States for a single non-malignant asbestos case. [22] In 1999, a jury in federal district court in Florida awarded $1.8 million compensatory damages and $31 million punitive damages against the company for ...
The company filed for reorganization December 6, 2000 [4] and it emerged from Chapter 11 reorganization on October 2, 2006. [5] Its stock began trading on the New York Stock Exchange October 18, 2006. The Armstrong World Industries, Inc. Asbestos Personal Injury Settlement Trust in 2006 held approximately 66% of AWI's outstanding common shares. [6]
In construction, asbestos abatement is a set of procedures designed to control the release of asbestos fibers from asbestos-containing materials. [1] Asbestos abatement is utilized during general construction in areas containing asbestos materials, particularly when those materials are being removed, encapsulated, or repaired.