Abex Corporation

  • Amount in Trust: $307 million
  • Year Trust Was Created: 2011

Abex Corporation was a longtime manufacturer of asbestos friction products such as brake linings for trains and cars. Today, a claims settlement trust exists to cover damages awarded to asbestos-exposure victims through personal injury and wrongful death lawsuits.

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This page features: 11 cited research articles

History

The Abex Corporation began in 1928 as American Brake Shoe and Foundry, a Virginia-based company that produced brakes and wheels for railroad cars. With the rise of the automobile and airplane industries, the business expanded into the production of hydraulic systems for airplanes and ships, brake linings for cars and other basic friction parts.

Abex Corporation Facts:
  • Founded: 1928
  • Years Operated: 1928-1978
  • Headquarters: Portsmouth, Virginia
  • Business: Originated as brass foundry and later produced asbestos brakes
  • Asbestos Trust: Yes
  • Bankruptcy Status: Filed in 2001

Abex relied on asbestos to prevent its products from sparking under friction and catching fire. Long after doctors recognized the dangers of asbestos exposure, and even after engineers devised alternatives to asbestos materials, Abex continued to use asbestos heavily in its products until its merger with Pneumo Corporation in 1978 effectively shut down the original Abex manufacturing facility.

Later in 1990, the U.S. Environmental Protection Agency declared the old Abex plant and surrounding areas a superfund site after discovering extreme soil contamination.

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Exposed to Asbestos at Abex Corporation

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Lawsuits Over Abex Asbestos Products

Many of Abex’s employees were metalworkers, and many construction workers used the corporation’s products. Because they came into frequent contact with asbestos in Abex’s products and manufacturing equipment, these workers have an elevated risk of developing mesothelioma and other asbestos-related diseases. In addition, railroad and automobile mechanics often inhaled asbestos dust when installing or servicing Abex brake pads.

Today, stricken workers and retirees can receive compensation from Abex through personal injury lawsuits. Abex’s successor companies set up the Pneumo Abex Asbestos Claims Settlement Trust specifically for this purpose.

In 2009, for example, Charles Gillenwater sued several companies, including Pnuemo Abex, after he was diagnosed with mesothelioma. He had worked with asbestos-containing products as a pipefitter in the 1970s and never been warned of the associated health risks. A jury awarded him a total of $9.6 million in compensatory damages.

In 2010, retired mechanic Gordon Bankhead filed a personal injury lawsuit against Pneumo Abex after being diagnosed with mesothelioma. He had serviced and repaired heavy duty vehicles using asbestos-containing brake pads from 1965 to 1999. He was awarded nearly $4 million in damages, and then after he passed away a year later, his family was awarded an additional $11 million in a wrongful death lawsuit.

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Last Modified October 11, 2018

Writer

Daniel King joined Asbestos.com in 2017. He comes from a military family and attended high school on a military base. He feels a close connection to veterans, military families and the many hardships they face. As an investigative writer with interests in mesothelioma research and environmental issues, he seeks to educate others about the dangers of asbestos exposure to protect them from the deadly carcinogen linked to asbestos-related conditions. Daniel also holds several certificates in health writing from the Centers for Disease Control and Prevention.

Walter Pacheco, Managing Editor at Asbestos.com
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6 Cited Article Sources

  1. Reuters. (2011 February 7). Cooper to pay $307.5 million to settle asbestos claims.
    Retrieved from: http://info.legalsolutions.thomsonreuters.com/westlawnext/about/awareness/practitioner-insights/default.aspx
  2. Environmental Protection Agency: Abex Corporation.
    Retrieved from: http://www.epa.gov/reg3hwmd/npl/VAD980551683.htm
  3. Lexis Nexis: Illinois Jury Returns $89.6 Million Asbestos Verdict.
    Retrieved from: http://www.lexisnexis.com/community/litigationresourcecenter/blogs/litigationblog/archive/2011/03/15/illinois-jury-returns-89-6-million-asbestos-verdict.aspx
  4. Cooper Industries: Cooper Industries Reaches Revised Agreement to Resolve Abex Asbestos Liabilities Through Federal-Mogul Bankruptcy Trust.
    Retrieved from: http://www.sec.gov/Archives/edgar/data/1141982/000129993306004613/exhibit1.htm
  5. Gvillo, H.I. (2014, February 5). Calif. jury awards mesothelioma victim's family $11M in wrongful death lawsuit.
    Retrieved from: http://legalnewsline.com/stories/510516959-calif-jury-awards-mesothelioma-victim-s-family-11m-in-wrongful-death-lawsuit
  6. Gvillo, H.I. (2014, February 5). Calif. jury awards mesothelioma victim's family $11M in wrongful death lawsuit. Retrieved from: http://legalnewsline.com/stories/510516959-calif-jury-awards-mesothelioma-victim-s-family-11m-in-wrongful-death-lawsuit
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