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Asbestos & chemical company giant W.R. Grace wins "Philanthropist of the Year" award
After leaving Montana in the dust, W.R. Grace & Co. was awarded the 2009 "Philanthropist of the Year". Monday's ceremony, hosted by the Maryland chapter of the Association of Fundraising Professionals, managed to leave out words such as "mesothelioma", "Libby, Montana" and "asbestosis".
W.R. Grace & Co, a company based in Columbia, Maryland, was awarded this for their generous donation of at least $1 million this past year. Nearly 40% of those donations went to Maryland nonprofit organizations. This large asbestos and chemical company has also been encouraging their employees to donate more than 1,250 hours of their time.
After being acquitted of all charges in a criminal trial which accused Grace of violating the Clean Air Act and obstruction of justice, the company expects to have a $400 million gain upon exiting bankruptcy. Bankruptcy had been filed upon the company's drowning in over 100,000 asbestos claims.
Criminal charges stem from the mine operations Grace was running in Libby, Montana which caused the entire community to be exposed to asbestos-laced vermiculite. The extremely hazardous nature of Grace's vermiculite asbestos mine became a detrimental health concern for the residents of Libby.
An example of an asbestos related disease is mesothelioma, a type of cancer developed from asbestos contact. This extremely aggressive form of cancer occurs when asbestos particles are breathed into the lungs where the fibers attack the mesothelium. This 2-layered protective tissue covers the body's major organs such as the lungs, heart, and abdominal organs.
Unfortunately, the diagnosis of mesothelioma occurs during the cancer's final stages; often taking anywhere from 20 to 50 years to detect. This is a result of the similarity of symptoms to that of influenza or bronchitis.
The community of Libby, Montana has been adversely affected by the presence of airborne asbestos fibers. Because of the hundreds of cases diagnosed in this town, the company will pay $1.5 billion cash to settle claims once it emerges from bankruptcy.