FWC- Mike, You're right about those asbestos claims. However, I think you are overstating the exposure. There is only slightly over "100,000" claims. <VBG> I found this dated in 2001. Thanks for getting me to look into this further.
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Foster Wheeler Has Been Named In 13,300 More Asbestos Claims A WSJ.COM News Roundup Foster Wheeler Corp. said Tuesday that about 13,300 new asbestos-related personal injury claims have been filed against the company during the first quarter, and the engineering and construction company said it has either settled or dismissed without payment an additional 2,600 claims. Foster Wheeler, Clinton, N.J., spent about $8.9 million on asbestos litigation during the first quarter, substantially all of which it has received or will receive from insurance coverage, the company said in its quarterly report filed Monday with the Securities and Exchange Commission. Foster Wheeler had about 102,800 claims pending as of March 30, the filing said. 5/15/01 |
