ABB Reaches Agreement to Resolve Asbestos Claims
Tuesday, March 22nd, 2005Source: ABB ABB said Monday that it has reached an agreement to reorganize Combustion Engineering (CE) and ABB Lummus Global to resolve the asbestos claims against both companies. The amended agreement requires ABB to contribute an additional $232 million to the trust fund that will pay all outstanding asbestos claims. This contribution will be derived [...]