History of United States Gypsum Company & Asbestos Trust Fund Claims (2024)

FAQs

History of United States Gypsum Company & Asbestos Trust Fund Claims? ›

The Creation of the United States Gypsum Asbestos Trust

Common Questions About U.S. Gypsum Company

The USG Asbestos Trust pays 12.7% of the settlement value.

About the NGC Asbestos Trust Fund

By the early 1980s, thousands of National Gypsum asbestos lawsuits had been filed by workers who had been exposed to the company's asbestos products and since become sick. To resolve all of these asbestos lawsuits, NGC sought bankruptcy protection in October 1990.

National Gypsum History

In 1925, three entrepreneurs founded National Gypsum to produce light, flexible wallboard and products. Throughout the 20th century, the company expanded its product lines to include plaster, acoustical tile and rock wool and dozens of other products, most of which contained asbestos.

The Kaiser Gypsum Company was started by Henry J. Kaiser in 1952. During this post-World War II era, asbestos use was reaching its height and the product was added to more than 3,000 products. Kaiser Gypsum alone created hundreds of asbestos-containing products during its years of operation.

Asbestos claimants with breathing problems requiring the use of an inhaler may result in around £50,000. Claimants suffering from wheezing without serious impairment may lead to an average compensation of £30,000.

How much money is left in the mesothelioma trust fund? More than $30 billion is still set aside in mesothelioma trust funds as of May 2024. Multiple trust funds exist because many companies tried to avoid responsibility for lawsuits once the dangers of asbestos became clear.

Knauf

Gebr. Knauf KG

Drywall (gypsum board) is used in North American construction as a faster alternative to plaster and wood. Drywall is made of gypsum (calcium sulfate dihydrate), paper, and additives such as mica, clay, and resin. Drywall installation generates gypsum and silica dust, which are irritating to the lungs.

It is widely mined and is used as a fertilizer and as the main constituent in many forms of plaster, drywall and blackboard or sidewalk chalk. Gypsum also crystallizes as translucent crystals of selenite.

Why is it called gypsum? ›

The name is derived from the Greek "gypsos" meaning "chalk or plaster." Gypsum is typically colorless to white, but due to impurities it can occur in shades of yellow, blue, pink, brown or gray. It typically forms as flat, elongated prismatic crystals that are mostly transparent and often times twinned.

The average price of crude gypsum in the United States stood at 12 U.S. dollars per metric ton in 2023. The United States, Iran, and China are some of the largest producers of gypsum worldwide.

Rajasthan is the largest producer of gypsum in India.

The main deposits occur in the tertiary clays and shales of Jodhpur, Nagaur and Bikaner.

Today, we are one of the few companies in our field featuring a complete range of trenchless services. This has put Gypsum at the forefront of utility companies, municipalities and hydrocarbon companies in the underground pipeline business in India.

In 1910 United States Gypsum Corporation bought Sackett Plaster Board Company and by 1917 introduced Sheetrock. Providing installation efficiency, it was developed additionally as a measure of fire resistance.

Now, more than 50 years later, our tireless spirit of innovation continues to inspire us to create groundbreaking gypsum products designed to help members of the building community construct the highest quality commercial and residential buildings.

Asbestos settlements for illnesses like mesothelioma award between $1 million and $1.4 million on average, and many families start receiving compensation within 90 days. Asbestos compensation can help pay for medical care and other expenses stemming from an asbestos-related disease.

In bankruptcy cases, many asbestos companies set up trust funds. These trust funds have enough money to compensate future asbestos victims. They contain hundreds of millions to billions of dollars. A top asbestos lawyer may suggest filing a trust fund claim and a lawsuit.

What is the current payment percentage for the Owens Corning Fibreboard Asbestos Personal Injury Trust? The Owens Corning trust payment percentage is 5.9% of the settlement value. The Fibreboard trust payment percentage is 4.4% of the settlement value. Both percentages are undergoing reconsideration as of July 2024.