In January 2002, Dow settled a case brought against its subsidiary Union Carbide Corporation by workers exposed to asbestos in the workplace. The case was filed before acquisition of Union Carbide by Dow Chemicals Company.
Carbide’s new owner, Dow reached a settlement in the case. The company has set aside $2.2 billion to address future liabilities. Globally companies facing asbestos liabilities seem to be in the process of setting up compensation fund-as an out of court settlement exercise- to escape further civil and criminal liability for knowingly exposing workers, their families and consumers domestically and the world over.
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