Goulds Pumps Incorporated

Established in 1848 in the state of New York, Goulds Pumps’ products were used throughout various industries including shipyards and oil refineries. From the 1940s to 1985, some of the pumps manufactured by Goulds contained asbestos. Consequently, as of 2021, the company has been and continues to be involved in asbestos claims.

Goulds Pumps began operation in 1848 following a partnership of several businessmen including the manufacturer of wooden pumps. Around this time, Seabury S. Gould, a well-known overseer in New York state of all-metal pumps, was appointed as president of the company.

In 1860, a new plant was built in Seneca Fall and the company was incorporated in New York state. The same year, company sales expanded to $400,000. Several years later, Gould’s son was appointed the next president of the company, which continued to grow.

In 1900, the company opened its second plant and introduced a wider range of pumps for various industries including agriculture, lumber, and mining. In 1926, the company assumed the name of Goulds Pumps.

In the 1940s, Goulds Pumps began placing asbestos in its products. Records suggest that the company used asbestos gaskets, packing, and insulation in its pumps until 1985. Also in the 1940s, the company received an award of excellence from the Army and Navy. Following World War II, the company further expanded throughout the country.

In the 1960s, Goulds Pumps became a publicly-held company following 116 years of Gould-family ownership. After going public, the company continued growing and acquired smaller pump company operations. By 1970, the company had grown to $48.8 million a year in sales. By 1980, the company reached $239 million in sales.

In 1997, Goulds Pumps was purchased by ITT Incorporated. Around the time the company was purchased, Goulds Pumps had begun to be involved in asbestos lawsuits. As of 2021, the company still exists as a subsidiary of ITT Incorporated and also continues to be involved in asbestos litigation.

Besides workers who were exposed to asbestos-containing products manufactured by Goulds Pumps, Goulds’ parent company also owns several other operations that exposed workers to asbestos. ITT Incorporated projects that its total liability for asbestos claims over the next decade will be $849.3 million.

Several cases against Goulds Pumps have proceeded to trial. One of these cases involved a worker who had been employed at a South Carolina paper mill plant from 1954 to 2000. During this time, the worker had been employed as a boiler operator, evaporator, and laborer. The worker was later diagnosed with mesothelioma and passed away from the condition. The worker’s surviving loved ones were ultimately awarded compensation from Goulds Pumps.

A diagnosis of mesothelioma or a related condition can cause a victim and his or her loved ones to end up experiencing countless complications. If a third party was responsible for such exposure, you should not hesitate to speak with a knowledgeable lawyer. Contact the Throneberry Law Group today for assistance. During a free case evaluation, one of our attorneys can review your available options to hold the responsible party accountable.