Liability Risk and Insurance
Crown Cork faces liabilities
Metal and plastic packaging manufacturer Crown Cork & Seal has seen a 31% reduction of market value due to the threat of asbestos
liabilities. Although its asbestos-related units were sold off in the 1960s, progressively higher charges for asbestos liabilities
have been taken in recent years, US$75mn in 1998, US$106mn in 1999 and US$166mn last year.