The Amex Corporation is a manufacturer of various textiles. Much like most textile manufacturers in the past, Amex relied on asbestos for its heat and fire-resistant properties, and in turn, large amounts of the deadly mineral were included in many of the company’s products. Although Amex knew the dangers of asbestos, they continued to use it right up until the Environmental Protection Agency (EPA) placed strict regulations on it in the late 1970s. Consequently, thousands of people suffered due to Amex’s negligence.
If you or a loved one were diagnosed with mesothelioma or any other illness due to asbestos exposure, you may be entitled to substantial compensation. Fill out our form to get a free Financial Compensation Packet. You’ll learn about the top mesothelioma lawyers in your area, how to get paid in 90 days, how to file a claim for the asbestos trust funds, and more.
The Amex Corporation History
Established as the the American Asbestos Textile Corp. in the 1950s, Amex started out as a textile manufacturer in Norristown, Pennsylvania. The majority of their products were made to resist extremely hot temperatures and fire, including insulation, ropes, gaskets, wicks, cloth, and more. In order to make their products fire and heat-resistant, Amex used asbestos since it was affordable and easy to mix into materials.
In the late 1970s, Amex stopped using asbestos in its products. However, this was many years after the company already knew how dangerous it was to expose workers to asbestos fibers. Consequently, Amex faced numerous asbestos-related lawsuits, resulting in more than 9,000 claims.
The Amex Corporation Lawsuits
With the sheer amount of asbestos-related lawsuits filed against Amex, they were forced to file for Chapter 11 bankruptcy in the 1980s. Stipulations under the company’s Chapter 11 bankruptcy mandated that they create a Creditors’ Committee of Asbestos Litigants in order to compensate current plaintiffs. The Amatex Asbestos Disease Trust Fund was also created to handle future asbestos claims. Although the trust fund is now inactive, during the first decade alone, the company paid out more than $11 million in settlement amounts.
In 1990, Amex came out of bankruptcy and re-established the company. Even though they no longer use asbestos, Amex continues to manufacture heat and fire-resistant materials.
Workers Affected By Amex
Amex workers and contractors were not the only people affected by the company’s negligent actions. Thousands of workers across many different job fields and occupations handled Amex products, resulting in continuous asbestos exposure, leading to life-threatening diseases such as malignant mesothelioma and asbestos-related lung cancer. For instance, shipyard workers, construction workers, technicians, electricians, and more used Amex products to repair vessels, build homes, and work on machinery and equipment.
Other occupations that used Amex products include:
- Pipe fitters
- Insulation installers
- Boiler workers
- Heating installers
- Air conditioning installers
Additional Help and Legal Resources for Asbestos Victims
Don’t forget to fill out our form to get our free Financial Compensation Packet, filled with information on the leading asbestos and mesothelioma attorneys in your area. For additional assistance, contact us at 800-793-4540.