ESAB, Altrad held liable for Cape asbestos operations
South Carolina's trial court has ruled that ESAB Corp. (NYSE:ESAB) and Altrad Group are liable for Cape Asbestos Co. Ltd.'s historical asbestos operations, according to a press release from Investing.com. The decision, announced by former South Carolina Chief Justice Jean H. Toal, stems from a lawsuit filed by John A. Tibbs and his wife against multiple companies.
The plaintiffs are seeking to hold the companies accountable for the sale of raw asbestos that allegedly caused Mr. Tibbs' cancer. The court found that ESAB, an American-Swedish industrial company, is the corporate parent of Charter Consolidated and Central Mining, entities that controlled Cape's asbestos business and its distribution into the United States.
Altrad Group acquired Cape in 2017, and the ruling determined that Altrad Investment Authority S.A.S. and its chairman, Mohed Altrad, are responsible for Cape’s conduct and liabilities. Cape, based in Great Britain, supplied asbestos to the United States during the 20th century, providing more than 95% of commonly used industrial asbestos imported into the U.S. The asbestos was used in industrial facilities, manufacturing operations, and naval vessels.
The case is Tibbs v. 3M Company, et al., Case No. 2023-CP-40-01759, in the Court of Common Pleas for Richland County, South Carolina.
Brief written by urgent.news from Investing.com's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
