Eagle-Picher Industries (EPI) was formed through the merger of a mining company and a lead company in 1906. Much of its success came from its status as one of the largest suppliers of lead and zinc in the United States during the mid-20th century.
In 1922, EPI was a battery manufacturer and supplier, widely known for providing batteries for U.S. military equipment through a government contract in the 1940s-1950s.
Mining asbestos was a natural next step for the company as the popularity of the dangerous mineral and its use were on the rise.
By 1938, EPI had its own raw asbestos and it started to manufacture asbestos-containing products including pipe covering, insulating cement, block insulation, and mastic coatings.
In some instances, EPI distributed asbestos-containing products which were manufactured by other companies.
Miners working in EPI mines worked directly with asbestos and were at great risk of exposure. Similarly, factory workers manufacturing asbestos products were at a very close range for exposure as well.
EPI’s insulation materials were used throughout the U.S. military, meaning both civilians and military veterans and servicemembers were at risk of exposure.
The company reportedly stopped using asbestos in the 1970s. It underwent a name change as well and now goes by EaglePicher Technologies.
EPI was facing asbestos personal injury lawsuits starting in the 1980s, which was financially detrimental to the company.
It filed for Chapter 11 bankruptcy on October 7, 1991, in the Southern District of Ohio.
In 1996, the Eagle-Picher Industries, Inc. Asbestos Trust under its Chapter 11 Joint Plan of Reorganization was created with $400 million in funding.
In 2021, 4,951 claims were filed with the Trust, according to its annual financial report.
The report further detailed that it paid $19,638,000 in claims in 2021, contributing to the $884,638,000 the Trust has paid since it was established.
Also according to the 2021 annual financial report, “approximately 81% of all dollars paid in 2021 went to claimants with malignant diseases.”
We’ve helped thousands of people receive the compensation they deserve for their asbestos injuries. Let us help you. You can contact asbestos attorney Justinian C. Lane at Asbestos Claims Law via his website at http://www.AsbestosClaims.law.
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