Plant Insulation Company
The Plant Insulation Company both sold as well installed and repaired insulation that contained asbestos and materials for fireproofing in the state of California. A trust for asbestos victims was created in 2013 for the Plant Insulation Trust and was initially funded with $131.5 million. Assets in the trust were $237 million in January 2020 and the trust compensates a percentage of 11.5%.The History of Plant Insulation Company Trust
Incorporated in 1937, the Plant Insulation Company was an insulation contractor that both installed and removed products for insulating. Between the late 1940s to 1990, Plant Insulation Company was involved with Fibreboard Company in a contract with exclusive terms involving the distribution of the company’s CalTemp and Pabco brands.
Until 1971, products manufactured by Fibreboard were known to have contained asbestos. Plant Insulation stopped the installation of Fibreboard products containing asbestos in 1972. Since this time, Plant Insulation has repaired, maintained, and removed other types of products known to contain asbestos.
In 2001, the Plant Insulation company stopped working under its name and transferred its business to Bayside Insulation and Construction, a newly formed company that had a 49% interest in Plant Insulation.
When Plant Insulation was prepared to file for bankruptcy, parties with asbestos exposure created a committee demanding the company and Bayside merge. This merger would offer asbestos-exposure claimants improved access to compensation from trust funds.
When asbestos litigation began in the 1970s, Fibreboard initially defended Plant Insulation from parties pursuing legal compensation. Plant Insulation was the sole distributor for Fibreboard. A decade later, Plant Insulation began to pull away from its coverage of asbestos claims. By the period that Plant Insulation pursued Chapter 11 protection, Plant Insulation was facing thousands of claims involving asbestos exposure.Asbestos Exposure at Plant Insulation
Plant Insulation installed as well as removed, distributed, and repaired insulation containing asbestos for several decades even though the company knew about the dangers presented by the material. Some of the most common types of insulation that the company manufactured and dealt with include:
- Block insulation is formed into solid insulation bricks and can be either carved or trimmed to form a shape.
- Loose-fill insulation is routinely used in all parts of a house including floors, walls, and attics.
- Insulation wraps were used on pipes, electrical wiring, and other surfaces where wrapped products might adhere.
- Spray-on insulation was combined with other chemicals to form a slurry that was sprayed onto areas with irregular shapes.
Because asbestos was used in Plant Insulation products, any person who worked either in or close to the company’s warehouse is in danger of contracting asbestos-related illnesses. Some of the types of workers who are at greatest risk of exposure to asbestos-containing products manufactured by Plant Insulation include people who work at refineries, factories, and other industrial locations.Contact an Experienced Asbestos Exposure Lawyer
If you or a loved one was exposed to asbestos-containing products manufactured by Plant Insulation Company, do not hesitate to speak with a knowledgeable attorney. Do not hesitate to contact the Throneberry Law Group today for assistance.