ABB Lummus Global, Inc. once manufactured asbestos in a variety of equipment for many decades. Consequently, numerous former workers were injured from asbestos exposure. Following a myriad of mesothelioma diagnoses, ABB faced many lawsuits, which eventually resulted in an asbestos trust fund.
There currently more than $30 billion available in asbestos trust funds. If you or a loved one have been diagnosed with mesothelioma, asbestos-related lung cancer, or asbestosis, keep in mind that you may be entitled to substantial compensation. Fill out our form to receive our free Financial Compensation Packet. Our packet is loaded with information on leading mesothelioma attorneys in your area, how to file a claim for asbestos trust funds, how to get paid in 90 days, and more.
ABB Lummus Global, Inc. History
Established in 1883, ABB Lummus Global, Inc., part of ABB Ltd., started out as a manufacturer of high-capacity transformers and electrical systems. In 1988, it started a merger with , Boveri & Cie (BBC) and Allmanna Svenska Elektriska Aktiebolaget (ASEA), and under the name ABB, established its headquarters in Switzerland.
For numerous years, ABB manufactured a multitude of asbestos-containing products, including:
- Generators, and more
In 1995, ABB merged again, this time with ABB Global Engineering, thus creating ABB Lummus Global, Inc. The company continued working with electrical systems, as well as developing technology. ABB is still in business today, but have since discontinued using asbestos, but not before a string of mesothelioma lawsuits.
Employees and contractors placed at risk for asbestos exposure at ABB included:
- Factory workers
- Metal workers
- Machine mechanics
ABB Asbestos Lawsuits
By 2006, the amount of mesothelioma lawsuits against ABB was so high that the company filed for Chapter 11 bankruptcy. This doesn’t mean that the company were actually bankrupt, but it did give them a way to pay out future asbestos claims without facing additional lawsuits. A total of around $1.5 billion was placed into an asbestos trust fund under their Chapter 11 bankruptcy, to help compensate former employees and their families who’ve been diagnosed with an asbestos-related illness. Not only does this help future plaintiffs, but the claims are also processed more efficiently.
Currently, over 100,000 people have filed against ABB for asbestos injuries in the United States alone, including both former employees and contractors. In 2007, in attempt to further remove the asbestos claims from the company, ABB was sold to CB&I, a Texas-based engineering company, for $950 million. Today, no asbestos is used at the company.
Legal Resources and Additional Information
If you or a loved one are suffering from mesothelioma, asbestos-related lung cancer, or asbestosis, you may be eligible for a substantial amount of compensation. Remember to fill out our from to get your free Financial Compensation Packet, with information on asbestos and mesothelioma lawyers in your area. For additional assistance, contact us toll-free at 800-793-4540.