NEWS
By Andrea K. Walker and Paul Adams and Andrea K. Walker and Paul Adams,SUN REPORTERS | April 8, 2008
W.R. Grace & Co. said yesterday that it has reached a deal that could be worth more than $3 billion to settle thousands of lawsuits by people who say they were sickened by exposure to the company's asbestos products. The deal potentially clears a path for the Columbia-based chemical maker to emerge by year's end from one of the most complex bankruptcy reorganizations in U.S. history. The accord, which would depend on approval by a bankruptcy judge in Pittsburgh, would establish a trust fund to pay current and future asbestos claims, which date back decades to when the company produced and sold products containing the substance.
NEWS
By Allison Connolly and Allison Connolly,Sun reporter | March 12, 2008
W.R. Grace & Co. has agreed to pay $250 million, the most in the history of the federal government's Superfund program, to clean up contamination from a Montana vermiculite mine that caused 1,200 residents and former mine workers to become ill or die from asbestos-related diseases. The agreement was announced by the Department of Justice and the Environmental Protection Agency late yesterday. If the deal is approved by the bankruptcy court overseeing Grace's reorganization, the Columbia-based specialty chemicals maker would be shielded from any additional cleanup claims and costs.
BUSINESS
By Bloomberg News | May 22, 2007
WILMINGTON, Del. -- W.R. Grace & Co. asked the judge overseeing its bankruptcy case to bar asbestos-related lawsuits against Burlington Northern Santa Fe Railway Co. over the railroad's objections to the legal protection. Grace's effort to resolve more than 100,000 asbestos claims it faces would be more difficult if Burlington, known as BNSF, starts defending itself against 113 lawsuits involving the railroad's transportation of vermiculite ore in Libby, Mont., Grace attorney David M. Bernick contended yesterday in court.
NEWS
March 3, 2007
ALAN STRINGER, 62 W.R. Grace executive Alan Stringer, one of seven former W.R. Grace and Co. executives accused of conspiring to conceal asbestos-related health risks posed by a Montana mine, died of cancer Feb. 24 at his home in Oak Harbor, Wash., his wife, Donna, said Thursday. In Libby, Mont., asbestos from Grace's former vermiculite mine has been blamed for sickening or killing hundreds of people. Mr. Stringer had been the general manager of the vermiculite mine, which closed in 1990.
BUSINESS
By Andrew Schneider and Andrew Schneider,Sun reporter | January 23, 2007
LIBBY, Mont. -- For more than 65 years, lethal asbestos fibers from a nearby vermiculite mine contaminated this small town and its people. Federal agencies have spent seven years and tens of millions of dollars removing tons of the cancer-causing material from homes, businesses, schools and playgrounds. Yet no one is sure that any amount of time or money can clean up the town enough to make it safe to live there. So a growing number of residents now are proposing that the federal Environmental Protection Agency or Columbia-based W.R. Grace & Co., which owned the mine for the last quarter-century of its operation, buy their houses so they can rebuild outside heavily contaminated areas.
BUSINESS
By Laura Smitherman and Laura Smitherman,SUN STAFF | February 10, 2005
Sheldon Myrie used to steer clear of a back room at his Beltsville workplace after he learned that federal officials discovered trace amounts of asbestos that had traveled there from a Montana mine. "They said there was nothing to worry about, but I thought hopefully there was nothing that could kill me back there because I have young children to take care of," said Myrie, who works for Atlantic Transportation Equipment Ltd., which has since moved to a nearby building. The now abandoned shop in a Prince George's County industrial park was one of more than 200 sites from New York to Hawaii where asbestos-tainted vermiculite was shipped or processed and used for insulation, fireproofing and fertilizer.