Founded in 1895 by John C. Lincoln with an initial investment of $200, Lincoln Electric has grown to become a national leader in welding products. Today, the company is headquartered in Euclid, Ohio but has operations in more than 160 countries. The company also retains over 8,500 workers including 3,000 employees in the United States.The History of Lincoln Electric
In 1913, Lincoln handed over management of Lincoln Electric to his brother. Under the brother’s direction, Lincoln Electric began focusing on arc welding innovations. The brother also created an employee advisory board and a guaranteed-employment program. Both of these features helped the company to weather various economic challenges.
In the 1930s and 1940s, the company focused on expansion in Australia, Canada, and England. During World War II, Lincoln was the biggest producer of arc welding equipment. Management changed again in 1965 when William Irrgang became CEO and Chairman of the company. Irrgang helped the company navigate a recession. In 19896, George Willis became CEO and Chairman of the company. Willis helped to expand Lincoln Electric to 22 plants located in 15 countries. In 1992, Donald Hasting took over for George Willis. Hastings helped to restructure the company as well as close unprofitable ventures. Four years later, Anthony Massaro took over for Hastings. John Stropki later succeeded Massaro. Currently, Lincoln Electric has more than 40 active operations in 20 countries around the world.
Over the years, Lincoln used asbestos in various pieces of welding equipment, which placed workers at risk of later contracting deadly illnesses. Lincoln Lacks an Asbestos Trust
Lincoln Electric has not filed for bankruptcy. Instead, workers who have asbestos claims against Lincoln should pursue compensation directly against the company.Asbestos Litigation and Lincoln Electric
Since 2019, Lincoln Electric has been named as a co-defendant in more than 55,000 cases that were dismissed, 23 cases that resulted in verdicts for the defense, seven cases that were resolved with verdicts in favor of the plaintiff, and one case that was resolved with an agreement for an immaterial. Some of the most noteworthy asbestos cases in which Lincoln Electric has been involved include:
- In 2004, a New York appellate court affirmed the first-ever jury finding that welding rods containing asbestos had caused mesothelioma and lung cancer in workers. The New York Supreme Court's appellate division in this case upheld a 2003 verdict in favor of two workers who had handled welding rods at Lincoln Electric. The jury awarded one of the workers a total of approximately $3.19 million which was reduced by 25% since the man was a cigarette smoker and $3.54 was awarded to the other man's estate.
If you or a loved one has been diagnosed with mesothelioma or another associated condition after repeat and prolonged exposure to an asbestos-containing product at Lincoln Electric, you should remember that you have the right as an asbestos exposure victim to pursue compensation. Contact the Throneberry Law Group today. You can reach us today by calling (888) 506-1131 or schedule an appointment with us online.