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HALLIBURTON DISPUTES ASBESTOS CLAIMS
DALLAS, Texas - A jury in Holmes County, Miss., rendered a verdict on Friday, October 26, 2001, against three companies in an asbestos case in favor of six plaintiffs for a total of $150 million. Halliburton's subsidiary, Dresser Industries, Inc., was a defendant in two of the claims. Halliburton's share of the verdict is $21.25 million. The award was for compensatory damages only and the jury refused to award punitive damages. The other two companies were assessed the remainder of the damages.
Halliburton will file post trial motions and vigorously appeal if the verdict is not set aside. Halliburton has strong defenses in response to the plaintiffs' claims. For example, the Harbison-Walker products to which the plaintiffs claimed exposure simply did not exist. The only doctor to find a supposed asbestos-related condition was a doctor hired by plaintiffs' lawyers to screen potential clients for asbestos-related disease.
In addition to a complete absence of proof on key elements of the claims against Halliburton, there were serious irregularities in both the jury selection process and the determination of the venue of the court that heard the case. Halliburton believes the Mississippi appellate court will ultimately vindicate its position.
Halliburton, founded in 1919, is the world's largest provider of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction Group business segments.
Contact
Wendy Hall
wendy.hall@halliburton.com
Halliburton Company
Public Relations
(p) 713.676.5227
Cedric Burgher
cedric.burgher@halliburton.com
Halliburton Company
Vice President
Investor Relations
(p) 713.676.4933
Employment Contact
jobs@halliburton.com
(p) 800.888.7668
ext. 8005
Supplier/Procurement Contact
Dave Ireland
dave.ireland@halliburton.com
Supplier Diversity Contact
Linda Holloway
linda.holloway@halliburton.com
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