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Asbestos | Asbestos Industry
Companies > Owens-Corning Fiberglas
Owens-Corning Fiberglas Corporation History
Owens-Corning Fiberglas Corporation was founded in 1938 as a joint venture between Corning Glass and Owen-Illinois. The company enjoyed tremendous success right from the onset, with first year sales of $2.5 million and more than 600 employees. The company was first traded publicly on the New York Stock Exchange in 1952. By the late 1970s, Owens-Corning Fiberglas had annual sales exceeding $2 billion. Those sales grew to more than $3 billion by the end of the 1980s. In 1996, the company renamed itself "Owens Corning" – dropping the Fiberglas moniker to reflect its broader product range and interests. Today, Owens Corning is at the forefront of glass fiber technology. They bill themselves as the world leaders in glass fiberization, and set the pace for new innovations in that industry.
Owens-Corning Products that Contained Asbestos
Owens-Corning Fiberglas manufactured and distributed several products that contained asbestos. Most notable was the popular "Kaylo" brand pipe covering and block insulation, which they sold from 1953 to 1973. Kaylo was used in commercial, residential and industrial insulation. Owens-Corning Fiberglas also sold One Cote Cement and Owens-Corning Fiberglas Insulating Cement – both asbestos-containing insulating cements that were sold in powdered form, the latter as early as the mid 1930s. Asbestos is a naturally occurring mineral with excellent insulating properties. It is most dangerous as a dust, where it can be breathed in by workers, or settle on their clothes and put their families at risk of exposure and asbestos-related health issues such as malignant pleural mesothelioma.
Occupations at Risk for Asbestos Exposure
Owens-Corning asbestos-containing products enjoyed wide commercial success, which means workers in many industries potentially handled them and risked exposure to asbestos. Most at risk were workers that installed, handled and maintained pipe insulation: plumbers, boiler workers, construction laborers, insulators, and pipe fitters. Shipyard construction and repair workers and navy personnel working on warships particularly around boilers were also at risk for asbestos exposure from Owens-Corning Fiberglas pipe covering, block insulation and insulating cement. Anyone working in close proximity to people in those occupations or around the dangerous products themselves could also be considered "at risk."
Recent News
In October of 2000, Owens Corning filed for Chapter 11 bankruptcy protection. They had tried for years to handle their significant asbestos liability without taking that step, but in the end decided such a move was in the best interest of their company, stockholders, and current and future claimants. A key provision of their plan to emerge from bankruptcy was the creation of a trust to manage and pay asbestos-related claims. That plan went into effect October 31, 2006. Workers and their families that were harmed due to direct or incidental contact with Owens Corning Fiberglas products are entitled to compensation from this trust. Early, Ludwick, Sweeney and Strauss can help evaluate and process your claim with the Owens Corning Asbestos Trust.
