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Essay / The History of Johns Manville and its Bankruptcy
Johns Manville has been in business as a manufacturer of insulation and building materials since the 1800s. Originally based in New York, they began using asbestos in roofing products for the thermal resistance of the mineral. In the 1900s, they had extended their production line to the field of thermal insulation. As early as World War I, they began producing military ships using asbestos-laden insulation. In the early 1970s, they became known for making pipes, cements and fiberglass also made from asbestos. Due to numerous lawsuits filed against them for causing diseases like mesothelioma cancer, they went bankrupt in the early 1980s. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay JM's asbestos-laden production line included JM brand cements, adhesives, flexboard, felt and paper, caulking, and shingles. They sold floor tiles under the TerraFlex brand and various types of insulation under the Vulcabestos and Thermobestos brands. Due to the myriad types of products, workers in a wide range of industries have been exposed to life-threatening cancer, including the military, painting and roofing contractors, carpenters, miners, construction workers, steel and shipyards, textiles, pipefitters, boilermakers, electricians. workers and roofers. Diseases can be contracted by absorbing asbestos fibers through the skin or inhaling asbestos dust through the lungs. While some people experienced signs of asbestosis and various pulmonary symptoms relatively quickly after exposure, other illnesses take longer to manifest. Since Johns Manville began using asbestos in large quantities, years before many manufacturers, employees and people working on the company's productions developed signs of asbestosis in the 1930s. Many later developed mesotheliomas, which have a latency period of up to fifty years after their last exposure. Since the company used asbestosis-inducing materials until the 1970s, many more diagnoses will likely be made. Because workers were unaware of the devastating health risks associated with their work if they came into contact with asbestos, it can be difficult to determine decades later which products were responsible for a particular diagnosis. Although it is known that mesothelioma is caused solely by exposure to asbestos, many people worked before the 1970s in various companies that all exposed them to dangerous carcinogens. Thus, some lawsuits filed against JM before the bankruptcy targeted various suppliers and employers. In these cases, the courts determine what percentage of each claim a company is responsible for paying. Keep in mind: this is just a sample. Get a personalized document now from our expert writers. Get a Custom Essay After filing for bankruptcy, settlement payment asbestosis and mesothelioma claims are processed through a fund, as required by the courts. Those who filed lawsuits before JM's bankruptcy have traditionally obtained higher settlements and obtained substantial verdicts, some of which amounted to more than $1 million per lawsuit. However, the..