THOMASVILLE, GA. — Today Cleaver-Brooks, Inc. ("Cleaver-Brooks") issued the following statement regarding asbestos-related litigation to which it is a party.
“Since the mid-1980’s, Cleaver-Brooks and hundreds of other companies have, from time to time, been named as defendants in lawsuits involving claims alleging asbestos-related injuries from exposure to asbestos-containing products manufactured many years ago. In a recent multi-plaintiff, multi-defendant asbestos-related trial in New York City, Cleaver-Brooks was one of the defendants against which a substantial verdict was rendered. Although Cleaver-Brooks is disappointed with this initial result, this verdict is not the final resolution of the matter. The Company intends to pursue all available relief through the appeals process and other sources. Cleaver-Brooks continues to operate its business in the usual manner. The Company will continue to take seriously health and safety issues and remains committed to the highest levels of product innovation and customer service for which Cleaver-Brooks has become known.”
Cleaver-Brooks, a world-renowned provider of boiler room products and systems, is committed to providing efficient solutions that help its customers and the industry reduce energy usage, cost and environmental impact. As the pioneer of packaged firetube and watertube boilers, Cleaver-Brooks is the only manufacturer in the world to offer an entirely integrated boiler room solution for any size application. Its products are backed by a world-class representative network offering superior aftermarket service and solutions. Visit cleaverbrooks.com for more information.
This press release contains forward-looking statements. These statements relate to future events or the future performance of Cleaver-Brooks. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek,” “anticipate,” “plan,” “continue,” “estimate,” “expect,” “may,” “will,” “project,” “predict,” “potential,” “targeting,” “intend,” “could,” “might,” “should,” “believe” and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Cleaver-Brooks believes that the expectations reflected in these forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Other than as required by applicable laws, Cleaver-Brooks does not intend, and does not assume any obligation, to update these forward-looking statements.