9 Jan 2019
At OHSS Safety Consultants, we like to highlight news articles that illustrate that asbestos abatement is still very much an ongoing battle, despite the hazardous material being banned from use in most of the developed world since the end of the 1990s.
Here, we look at the fact that the share price of one of the world’s largest producers of talcum powder, Johnson & Johnson, has recently plummeted by 12 per cent - wiping almost $50 billion from the company’s value. This is primarily due to investor fears rising from the fact that a recent Reuters report discovered that the company had been aware of the dangers of asbestos in their products for decades, but failed to act upon this knowledge.
The revelations came about after investigators uncovered company memos that not only showed that executives were aware of the risks as early 1971 but also that the presence of asbestos in their talc had been covered up with reports of the fact being rewritten to reflect the lie.
It’s thought that this is going to lead to tens of thousands of costly lawsuits against the company from people who have suffered as a result, which could be hugely damaging to this Fortune 500 listed, 130-year-old manufacturer. Unfortunately for them, it does seem that Johnson & Johnson’s image of being a caring company could have been damaged for good.
Articles like these only serve to illustrate that asbestos still presents a significant danger to public health and that this is no time to be complacent about the material. Vigilance and awareness of what to do when you encounter it is as important as it has ever been.
If you would like to know more about all of our services, which includes training on asbestos regulations, asbestos removal and disposal and guidance on how to remove asbestos safely, you should take a look at our website www.ohss.ie, where you’ll find everything you need to know.
Alternatively, if you would like to speak to us directly, please give us a call on 01 6905907 and one of our team will be more than happy to assist you in any way they can.