Asbestos Victims Stage Protest Against James Hardie

September 20 , 2006 - Angry protestors staged a demonstration outside a meeting of James Hardie shareholders this week in Sydney, Australia, demanding to know when the company would finalize its compensation fund for victims of asbestos-related diseases caused by the products Hardie manufactures.

Experts predict that the current compensation fund set up by Hardie for asbestos disease sufferers will run out in less than a year.  The protestors – made up of the sick and their families as well as human rights advocates – noted that they failed to understand why Hardie has not yet signed a compensation agreement that will last the next 40 years, as they indicated they would.  Instead, shareholders were busy discussing hefty pay raises for the company’s directors.

"It's outrageous that we're still asking James Hardie Industries to pay compensation to asbestos victims," Barry Robson, president of the Asbestos Diseases Foundation of Australia, told the Sydney Morning Herald. "Why must sick men and women and their families have to protest in the streets to get their rights?"

"Many are starting to get frustrated and angry," Mr. Robson said. "Our members are even more angry because while they wait for their compensation the James Hardie directors are asking for their fees to be doubled.

"We reached a deal on compo with them but they keep on delaying while they try to screw the last cent possible out of the Tax Office, but they can spend millions of dollars on directors' fees," added Robson.

Victims have been waiting more than two years for the 40-year compensation package to be finalized.  In the meantime, James Hardie continues to negotiate with the Australian Taxation Office to try to earn the fund charitable status for tax purposes, another move that’s angered those waiting for compensation to help with treatment and other expenses associated with asbestos-related diseases.