Court rules corporate successors are responsible for historical asbestos liabilities

A South Carolina trial court has found that ESAB Corp. (NYSE: ESAB) and the France-based Altrad Group are responsible for Cape Asbestos Co. Ltd.'s. historical asbestos operations, making the two companies liable for legal judgments.

The ruling, announced Sept. 14 by former South Carolina Chief Justice Jean H. Toal, confirms that ESAB and Altrad are responsible for cancer-causing asbestos imported and distributed throughout the United States for decades.

The ruling came in a lawsuit filed by John A. Tibbs and his wife, who are seeking to hold the companies responsible for the sale of raw asbestos that caused Mr. Tibbs’ cancer.

“Cape has engaged in moral fraud in the United States for more than 50 years. This ruling opens the door for thousands of claimants to recover against one of the largest corporate conglomerates in the world, the same conglomerate that poisoned generations of workers,” said attorney Trey Branham of Dean Omar Branham Shirley, LLP. “We have already obtained separate judgments against Cape, including one for $38 million for our client Jerry Ross and his family, and we intend to immediately begin the enforcement process against those the Court found responsible.”

ESAB and Altrad Linked to Cape's Historical Operations

ESAB, an American-Swedish industrial company, is the ultimate corporate parent of Charter Consolidated and Central Mining, entities that the court found participated in controlling Cape's asbestos business and its distribution of asbestos into the United States.

The Altrad Group, a multinational industrial services group in energy, power generation, oil and gas and other industries, acquired Cape in 2017. The court’s rulings determined that Altrad Investment Authority S.A.S. and its chairman, Mohed Altrad, are responsible for Cape’s conduct and liabilities.

Decades of Asbestos Sales and Alleged Concealment

Great Britain-based Cape was the largest supplier of asbestos to the United States during the 20th century. Historical corporate records cited in the litigation indicate that Cape supplied more than 95% of commonly used industrial asbestos imported into the U.S. Cape’s asbestos was used extensively in industrial facilities, manufacturing operations and naval vessels.

The case is Tibbs v. 3M Company, et al., Case No. 2023-CP-40-01759, in the Court of Common Pleas for Richland County, South Carolina.

About Dean Omar Branham Shirley

Dean Omar Branham Shirley, LLP, is a national trial law firm representing individuals and families affected by catastrophic injuries, occupational diseases, and wrongful death. The firm represents plaintiffs in asbestos litigation throughout the United States.

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