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November 20, 2017

Cleaver-Brooks Issues Statement Regarding Asbestos-Related Litigation

THOMASVILLE, Ga.–(BUSINESS WIRE)–

Today Cleaver-Brooks, Inc. (“Cleaver-Brooks”) issued the following
statement regarding asbestos-related litigation to which it is a party.

“Since the mid-1980’s, Cleaver-Brooks and hundreds of other companies
have, from time to time, been named as defendants in lawsuits involving
claims alleging asbestos-related injuries from exposure to
asbestos-containing products manufactured many years ago. In a recent
multi-plaintiff, multi-defendant asbestos-related trial in New York
City, Cleaver-Brooks was one of the defendants against which a
substantial verdict was rendered. Although Cleaver-Brooks is
disappointed with this initial result, this verdict is not the final
resolution of the matter. The Company intends to pursue all available
relief through the appeals process and other sources. Cleaver-Brooks
continues to operate its business in the usual manner. The Company will
continue to take seriously health and safety issues and remains
committed to the highest levels of product innovation and customer
service for which Cleaver-Brooks has become known.”

Cleaver-Brooks, a world-renowned provider of boiler room products and
systems, is committed to providing efficient solutions that help its
customers and the industry reduce energy usage, cost and environmental
impact. As the pioneer of packaged firetube and watertube boilers,
Cleaver-Brooks is the only manufacturer in the world to offer an
entirely integrated boiler room solution for any size application. Its
products are backed by a world-class representative network offering
superior aftermarket service and solutions. Visit cleaverbrooks.com


for more information.

This press release contains forward-looking statements. These
statements relate to future events or the future performance of
Cleaver-Brooks. All statements other than statements of historical fact
may be forward-looking statements. Forward-looking statements are often,

but not always, identified by the use of words such as “seek,”
“anticipate,” “plan,” “continue,” “estimate,” “expect,” “may,” “will,”
“project,” “predict,” “potential,” “targeting,” “intend,” “could,”
“might,” “should,” “believe” and similar expressions. These statements
involve known and unknown risks, uncertainties and other factors that
may cause actual results or events to differ materially from those
anticipated in such forward-looking statements. Cleaver-Brooks believes
that the expectations reflected in these forward-looking statements are
reasonable but no assurance can be given that these expectations will
prove to be correct and such forward-looking statements included in this
press release should not be unduly relied upon. These statements speak
only as of the date of this press release. Other than as required by
applicable laws, Cleaver-Brooks does not intend, and does not assume any
obligation, to update these forward-looking statements.

Contact:

For Cleaver-Brooks, Inc.

Debbie Dryden, 770-974-9741

Original article:  

Cleaver-Brooks Issues Statement Regarding Asbestos-Related Litigation

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