"I am pleased that we have taken our final step and permanently resolved our asbestos liability," Dave Lesar, Halliburton's chairman, president and chief executive officer, said in a statement.
"The asbestos chapter in Halliburton's history is closed," he added.
Under its settlement with 370,000 asbestos claimants and 21,000 silica claimants, Halliburton will pay about $2.8 billion in cash and 59.5 million shares of its stock into a trust fund to compensate current and future victims.
Halliburton said it expects to fund trusts for current and future asbestos and silica claimants by the end of January.
Dick should be happy about this news...
http://money.cnn.com/2005/01/03/news/fortune500/halliburton.reut/index.htm
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