By now there have been a lot of news articles about German-based multinational chemical giant BASF unknowingly inheriting significant liability for the pain, suffering, and ultimately death of what seems like countless asbestos exposure mesothelioma victims. This company assumed this risk when it acquired Engelhard Corporation nearly 10 years ago for a purchase price of $10 billion.
Engelhard operated mines in which they removed talc from the ground to process for industrial and consumer use. While talcum powder does not necessarily have to contain asbestos, it is often found with asbestos and asbestos-laden vermiculite. The reason there is such a problem with liability in this company’s history is because of a mesothelioma lawsuit in filed against the company in the early 1980s according to a recent news article from the Insurance Journal. Continue reading
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