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Plibrico Co.
The Plibrico Company was established in 1914 with the mission of producing monolithic refractory products. That meant their finished items would be one complete piece, usually made out of a material that is difficult to work with and very resistant to extremely high temperatures. Because Plibrico needed to find materials that were able to withstand a great deal of heat, they turned to a naturally occurring mineral called asbestos.
Asbestos can survive most any temperature and is even resistant to fire. This made it a highly prized material for industrial products that would be used in extreme environments. Pilbrico included asbestos in many of their items for years, but eventually it was found to be a health hazard. The material produces small dust particles that can be inhaled and lodge in the respiratory system with ease. Once there, the particles can promote the decay of healthy tissue, and develop into cancer, such as Mesothelioma. This disease has claimed the lives of thousands of people, and led to the filing of a multitude of personal injury claims against companies that manufactured items which contained asbestos.
Plibrico was served with many lawsuits and made payoffs to victims who had become ill or lost loved ones following exposure to their products. These claims continued to pour in for years, leading the company to eventually file for Chapter 11 bankruptcy protection. By 2002, Plibrico executives had filed and set out on a company reorganization to relieve the company from the financial strain they were under.
One result of the bankruptcy was the formation of the Plibrico Asbestos Trust (PAT) in March of 2006. The Trust set up several basic, federally approved policies to deal with all current and future claims. Their goal was to deal with the claims on a first come, first served basis and to try to provide a fair amount of compensation based on the severity of each claim. Despite these goals, history has shown that claimants tend to receive less of a pay out after a company has gone through bankruptcy proceedings.
The PAT continues to operate today, and to review all incoming lawsuits. Plibrico has manufacturing facilities across the nation and continues to provide a wide selection of heat resistant products to their customer base.