Combustion Engineering (CE) was a an engineering company that focused on fossil fuel, engineering, and nuclear power products. Throughout several decades, CE manufactured and distributed asbestos-containing products to various companies. As a result, employees and contractors who worked with and around CE’s products began to develop asbestos-related illnesses. Soon after, CE faced a serious of asbestos-related lawsuits, which forced the company to file for bankruptcy.
If you or a loved one have been diagnosed with mesothelioma, asbestos-related lung cancer, or asbestosis, you may be eligible for 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.
Combustion Engineering History
Founded in 1912 and established in Manhattan, CE started out as manufacturer of boilers, boiler fuel systems, and dryers. The company continued manufacturing throughout the 1920s. In the 1930s, however, CE added other services and began repairing and improving steam engines and power plant assemblies.
CE continued to manufacture boilers during World War II. All the boilers contained excessive amounts of asbestos. The company began to grow afterwords, and added more asbestos-containing products to their manufacturing line, including, but not limited to:
- Synthetic fibers
- Protective seals
In 1990, Asea Brown Boveri (ABB Group) acquired CE. Part of purchase agreement included ABB taking responsibility for the influx of asbestos-related lawsuits against CE. Although CE had already discontinued using asbestos when ABB bought the company, the legal claims continued to grow, which eventually compelled ABB to file Chapter 11 bankruptcy.
Combustion Engineering Lawsuits
By 2002, CE had 111,000 asbestos-related claims filed after numerous employees and contractor developed life-threatening illnesses from working around the company’s products. By 2004, ABB settled around 94,000. However, ABB was still close to disintegrating due the huge amount of asbestos-related lawsuits still remaining.
Under the harsh circumstances, ABB decided to file for Chapter 11 bankruptcy, which included a reorganization plan and trust fund to compensate current and future plaintiffs. The company stayed in bankruptcy for three years. Afterwards. they set up the asbestos trust fund under the reorganization plan. Over $900 million has already been paid out to numerous plaintiffs. When the trust was created, an estimated $1.4 billion was placed in it.
In addition to the asbestos trust fund, ABB also offered company stock and cash as forms of compensation. Around $350 million in company stock and cash payments were made from 200-2009.
Combustion Engineering Asbestos Products
The majority of CE’s products were manufactured and distributed to a multitude of different companies. Since most CE’s products contained asbestos, thousands of people who worked around CE’s materials began to develop serious illnesses such as malignant mesothelioma and asbestos-related lung cancer. The following products have been verified of containing asbestos:
- Block sticks
- Joint material
- Fibrous adhesive
- Wool Blocks
- Kaiser cement and blocks
- Lite Wate 22
- Lite Wate 50
- Permaseal Weathercoating
- WeatherKote Protective Air-Check, Coating, Duriseal, and Thermal Coat
Legal Information and Resources for Asbestos Victims
If you’ve been injured by asbestos, keep in mind that there is a good chance that you’ll qualify for considerable compensation. Remember to fill out our from to get your free Financial Compensation Packet, with information on asbestos and mesothelioma lawyers in your area. If you have questions or need additional assistance, contact us at 800-793-4540.