James Hardie profit

On 21 May 2012 the ABC reported that James Hardie returned to profit in the financial year ending 31 March 2012.

James Hardie announced they made a $615 million profit during this period which included asbestos liabilities.

From an Australian asbestos compensation point of view, a profitable James Hardie is important. If James Hardie is in profit, they will continue to contribute monies into the asbestos compensation fund.

Mesothelioma compensation in Australia has been provided to persons who have developed this asbestos condition after being exposed to products manufactured by James Hardie in the past.

Australian Mesothelioma compensation fund

The Australian compensation fund for persons suffering asbestos conditions, including mesothelioma, set up by James Hardie has reimbursed the NSW government the moneys loaned by it.

As a result of the GFC, the profits of James Haride, which were linked to payments they are to make into the compensation fund, were low so the James Hardie fund needed to borrow some money from the New South Wales Government.

As a result of a successful court case in respect to tax liabilities, the James Hardie fund has been able to repay the moneys they borrowed from NSW.

On 22 May 2012, the Australian newspaper reported that so far, James Hardie has contributed about $556m to the asbestos compensation fund.

Asbestos compensation claims in Australia, such as court claims involving the asbestos condition malignant mesothelioma, are expected to continue for decades.

Victorian asbestos project

A Victorian asbestos group is seeking funding to assist in the construction of a mobile unit that can assist in the safe removal of asbestos waste.

It is hoped the unit will allow asbestos products to be removed from areas, including disaster areas.

Last year following the Queensland floods there was a large amount of asbestos products that were damaged, resulting in people being exposed to asbestos. At the time, there was considerable concern about the safety of such persons. Asbestos conditions such a mesothelioma can be caused by relatively small amount of asbestos exposure.

At this stage, it is not known if any compensation claims have been made as a result of the Queensland or Victorian floods.

West Australia asbestos concern

A fire in West Australia involving asbestos has caused concern that locals may develop in the future an asbestos condition such as mesothelioma.

On 18 May 2012, the fire in Perth caused great concern. An old building apparently made from asbestos was on fire.

All asbestos inhalation is potentially dangerous.

The firefighters involved in the blaze also have to take care, not only whilst fighting the fire, but also when mopping up.

Australian mesothelioma compensation cases have included a fireman developing mesothelioma as a result of being exposed to asbestos during and following fires.