Travelers Property Casualty Corp by mikeholy

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									Asbestos Defendant Profile                                                       Page ROH-1

                     Rohm and Haas Company
Rohm and Haas Company (NYSE: ROH)                    Employees:                18,210
100 Independence Mall West                           Revenue:        $ 5,666,000,000
Philadelphia, PA 19106-2399                          Net Income:      $ 395,000,000
Phone: 215-592-3000                                  Assets:           $ 10,350,000
Fax: 215-592-3377                                    Liabilities:     $ 6,535,000,000
http://www.rohmhaas.com                              (As of December 31, 2001)

Description: Rohm and Haas Company has reorganized itself into four groups. Its performance
polymers are used in acrylic paints (mostly for paints bought by do-it-yourselfers), adhesive
tapes, and plastics additives. Its specialty chemicals unit produces biocides, detergents, and
agricultural chemicals. The electronic materials division makes liquid photoresists and
developers and, through Shipley Ronal, materials for making printed wiring boards. Rohm and
Haas' salt group markets salt for road ice control, table salt (Morton Salt), food processing, and
water softening. The Haas family controls about 30% of the company.

Asbestos Discussion from SEC filings:
From the Company’s Form 10-K for the period ending December 31, 2002 at
http://www.sec.gov/Archives/edgar/data/84792/000089322003000307/w83028e10vk.htm
Filed On: March 17, 2003

In February 2003, we were served with                There are pending lawsuits filed against
European Commission Decisions requiring              Morton related to employee exposure to
submission to investigations in France and           asbestos at a manufacturing facility in
the United Kingdom, a search permit in               Weeks Island, Louisiana with additional
Japan from the Japanese Fair Trade                   lawsuits expected. We expect that most of
Commission, an order for the production of           these cases will be dismissed because they
records and information in Canada and two            are barred under worker’s compensation
grand jury records subpoenas in the United           laws; however, cases involving asbestos-
States all relating to a global antitrust            caused malignancies may not be barred
investigation of the Plastics Additives              under Louisiana law. Subsequent to the
industry. We are cooperating fully with all          Morton acquisition, we commissioned
governmental authorities.                            medical studies to estimate possible future
                                                     claims and recorded accruals based on the
There has been increased publicity about             results. Morton has also been sued in
asbestos liabilities faced by manufacturing          connection with the former Friction Division
companies. As a result of the bankruptcy of          of the former Thiokol Corporation, which
most major asbestos producers, plaintiffs’           merged with Morton in 1982. Settlement
attorneys are increasing their focus on              amounts to date have been minimal and
peripheral defendants, including the                 many cases have closed with no payment.
Company. We believe that we have                     We estimate that all costs associated with
adequate reserves and insurance and do not           future claims, including defense costs, will
believe we have a material asbestos                  be well below our insurance limits. In
exposure.                                            addition,   like     most    manufacturing
                                                     companies,


LitigationDataSource.com                                            Updated May 13, 2003
Asbestos Defendant Profile                                                    Page ROH-2
we have been sued, generally as one of             Recognizing the amounts reserved for such
many defendants, by non-employees who              items and the uncertainty of the ultimate
allege exposure to asbestos on company             outcomes, it is our opinion that the
premises. We do not believe that it is             resolution of all these pending lawsuits,
reasonably possible that a material loss will      investigations and claims will not have a
be incurred in excess of the amounts               material adverse effect, individually or in
recorded for all pending cases.                    the aggregate, upon our results of
                                                   operations, cash flows or our consolidated
We are also parties to litigation arising out      financial position.
of the ordinary conduct of our business.

Asbestos Discussion from SEC filings:
From the Company’s Form 10-Q for the quarter ended March 31, 2003
http://www.sec.gov/Archives/edgar/data/84792/000089322003000948/w86468e10vq.htm
Filed On: May 15, 2003

In February 2003, we were served with              may recover three times their actual
European Commission Decisions requiring            damages plus attorneys fees. Ohio state
submission to investigations in France and         antitrust law provides for double damage
the United Kingdom, a search permit in             indemnity. We do not believe these cases
Japan from the Japanese Fair Trade                 have merit and will defend them vigorously.
Commission, an order for the production of
records and information in Canada and two          There has been increased publicity about
grand jury records subpoenas in the United         asbestos liabilities faced by manufacturing
States all relating to a global antitrust          companies. As a result of the bankruptcy of
investigation of the Plastics Additives            most major asbestos producers, plaintiffs’
industry. We have also received a request          attorneys are increasing their focus on
for information from the Japanese Fair             peripheral defendants, including the
Trade Commission. We are cooperating               Company. We believe that we have
fully with all governmental authorities.           adequate reserves and insurance and do not
                                                   believe we have a material asbestos
In addition, the Company has been served           exposure. There are pending lawsuits filed
with seven private civil antitrust actions in      against Morton related to employee
U.S. District Court for the Eastern District of    exposure to asbestos at a manufacturing
Pennsylvania, one in the Southern District of      facility in Weeks Island, Louisiana with
New York and one in State Court in Ohio.           additional lawsuits expected. We expect that
These actions have been brought against            most of these cases will be dismissed
Rohm and Haas and other producers of               because they are barred under worker’s
plastics additives products by purchasers of       compensation       laws;   however,    cases
these products and seek civil damages as a         involving asbestos-caused malignancies
result of alleged violations of the antitrust      may not be barred under Louisiana law.
laws. The named plaintiffs in each of these        Subsequent to the Morton acquisition, we
actions are seeking to sue on behalf of all        commissioned medical studies to estimate
similarly situated direct purchasers of            possible future claims and recorded accruals
plastics additives products. Federal law           based on the results. Morton has also been
provides that persons who have been                sued in
injured by violations of Federal antitrust law


LitigationDataSource.com                                         Updated June 13, 2003
Asbestos Defendant Profile                                                     Page ROH-3
connection with the former Friction Division       addition,    like    most     manufacturing
of the former Thiokol Corporation, which           companies, we have been sued, generally as
merged with Morton in 1982. Settlement             one of many defendants, by non-employees
amounts to date have been minimal and              who allege exposure to asbestos on
many cases have closed with no payment.            company premises. We do not believe that it
We estimate that all costs associated with         is reasonably possible that a material loss
future claims, including defense costs, will       will be incurred in excess of the amounts
be well below our insurance limits. In             recorded for all pending cases.

Asbestos Discussion from SEC filings:
From the Company’s Form 10-Q for the quarter ended Seotember 30, 2002
http://www.sec.gov/Archives/edgar/data/84792/000095015402000302/rohmhaas-
10q_54243.txt
Filed On: November 14, 2002

There has been increased publicity about           Thiokol Corporation, which merged with
asbestos liabilities faced by manufacturing        Morton in 1982. Settlements to date total
companies. As a result of the bankruptcy of        $383,000 and many cases have closed with
most major asbestos producers, plaintiffs'         no payment. These cases are fully insured.
attorneys are increasing their focus on            In addition, like most manufacturing
peripheral defendants, including the               companies, the Company has been sued,
Company. The Company believes it has               generally as one of many defendants, by
adequate reserves and insurance and does           non-employees who allege exposure to
not believe its asbestos exposure is material.     asbestos on the Company premises. The
                                                   Company does not believe that it is
There are pending lawsuits filed against           reasonably possible that a material loss will
Morton related to employee exposure to             be incurred in excess of the amounts
asbestos at a manufacturing facility in            recorded for all pending cases.
Weeks Island, Louisiana with additional
lawsuits expected. The Company expects             The Company and its subsidiaries are also
that most of these cases will be dismissed         parties to litigation arising out of the
because they are barred under worker's             ordinary     conduct      of  its   business.
compensation      laws;    however,     cases      Recognizing the amounts reserved for such
involving asbestos-caused malignancies             items and the uncertainty of the ultimate
may not be barred under Louisiana law.             outcomes, it is the Company's opinion that
Subsequent to the Morton acquisition, the          the resolution of all these pending lawsuits,
Company commissioned medical studies to            investigations and claims will not have a
estimate possible future claims and recorded       material adverse effect, individually or in
accruals based on the results. Morton has          the aggregate, upon the results of
also been sued in connection with the              operations, cash flows and the consolidated
former Friction Division of the former             financial position of the Company.

Asbestos Discussion from SEC filings:
From the Company’s Form 10-Q for the quarter ended June 30, 2002
http://www.sec.gov/Archives/edgar/data/84792/000095015402000249/rohmhaas-10q_53788.txt
Filed On: August 13, 2002


LitigationDataSource.com                                          Updated June 13, 2003
Asbestos Defendant Profile                                                   Page ROH-4
OTHER LITIGATION                                 results. Morton has also been sued in
There has been increased publicity about         connection with the former Friction Division
asbestos liabilities faced by manufacturing      of the former Thiokol Corporation, which
companies. As a result of the bankruptcy of      merged with Morton in 1982. Settlements to
most major asbestos producers, plaintiffs'       date total $350,000 and many cases have
attorneys are increasing their focus on          closed with no payment. These cases are
peripheral defendants, including the             fully insured. In addition, like most
Company. The Company believes it has             manufacturing companies, the Company
adequate reserves and insurance and does         has been sued, generally as one of many
not believe its asbestos exposure is material.   defendants, by non-employees who allege
                                                 exposure to asbestos on the Company
There are pending lawsuits filed against         premises.
Morton related to employee exposure to
asbestos at a manufacturing facility in          The Company and its subsidiaries are also
Weeks Island, Louisiana with additional          parties to litigation arising out of the
lawsuits expected. The Company expects           ordinary     conduct      of  its   business.
that most of these cases will be dismissed       Recognizing the amounts reserved for such
because they are barred under worker's           items and the uncertainty of the ultimate
compensation      laws;    however,     cases    outcomes, it is the Company's opinion that
involving asbestos-caused malignancies           the resolution of all these pending lawsuits,
may not be barred under Louisiana law.           investigations and claims will not have a
Subsequent to the Morton acquisition, the        material adverse effect, individually or in
Company commissioned medical studies to          the aggregate, upon the results of
estimate possible future claims and recorded     operations, cash flows and the consolidated
accruals based on the                            financial position of the Company.

Asbestos Discussion from SEC filings:
From the Company’s Form 10-Q for the quarter ended September 30, 2001
http://www.sec.gov/Archives/edgar/data/84792/000095015401500416/rohmhaas-
10q_52580.txt
Filed On: November 14, 2001

There are pending lawsuits filed against
Morton related to employee exposure to           In addition, the Company and its
asbestos at a manufacturing facility in          subsidiaries are parties to litigation arising
Weeks Island, Louisiana, with additional         out of the ordinary conduct of its business.
lawsuits expected. The Company expects           Recognizing the amounts reserved for such
that most of these cases will be dismissed       items and the uncertainty of the ultimate
because they are barred under worker's           outcomes, it is the Company's opinion that
compensation      laws;   however,     cases     the resolution of all pending lawsuits,
involving asbestos-caused malignancies           investigations and claims will not have a
may not be barred under Louisiana law.           material adverse effect, individually or in
Subsequent to the acquisition, the Company       the aggregate, upon the results of operations
commissioned medical studies to estimate         and the consolidated financial position of
possible future claims and recorded accruals     the Company.
based on the results.


LitigationDataSource.com                                        Updated June 13, 2003
Asbestos Defendant Profile                                                 Page ROH-5
Asbestos-Related News:
Rohm & Haas Subsidiary Face Asbestos Related Lawsuits (Published December 06, 2002)




LitigationDataSource.com                                       Updated June 13, 2003

								
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