Forty-Eight Insulations Company
The Forty-Eight Insulations Company was founded in 1923 in East Aurora, Illinois. Forty-Eight sought to produce high-quality insulation. To make heat-resistant insulation, however, the company used asbestos in large quantities. One such product was called Super 48 Insulating Cement. The company was eventually acquired by an insurance company, Foster Wheeler, in 1973, but continued to produce asbestos-insulating cement.
As early as the 1920s, physicians recognized that exposure to asbestos caused severe sickness when asbestosis was identified by British medical journals. At the same time, insurance companies in the United States and Canada stopped selling life insurance to asbestos workers. Moreover, safer substitutes for most asbestos uses were known as early as the 1930s. Nevertheless, Forty-Eight chose to protect its substantial profit margins rather than discontinue use of the mineral.
Forty-Eight used asbestos until 1982, long after it was known that the mineral was toxic. Additionally, the asbestos fibers remain in a person’s lungs for years and symptoms may not develop for decades. Accordingly, Forty-Eight Insulations Company’s victims might live for decades without knowing of the deadly injury they sustained. Customers, the employees of Forty-Eight and the constructions workers who installed Forty-Eight products began to file lawsuits to recover for severe injuries. In 1985, the company entered bankruptcy protection. After 10 years, a plan was created to cover the company’s debts.
The Forty-Eight Insulation Qualified Settlement Trust was created to compensate the victims of Forty-Eight. Two separate amounts were placed into the trust fund. The first was $39 million to resolve existing claims. The second was $15 million for future claims. If you or a loved one has been injured by Forty-Eight Insulation, it is important that you contact The Gori Law Firm immediately for more information on your rights.