Lawyers: Chinese drywall makers may ignore lawsuits
New Orleans (AP) — Lawyers for homeowners and homebuilders who used drywall suspected of causing corrosion and possible health risks say they expect Chinese manufacturers to ignore hundreds of lawsuits filed against them.
So, who’s going to be on the hook for any court-ordered damages?
That’s the pivotal question for lawyers as they pursue about 300 lawsuits in U.S. District Court in New Orleans that allege a flood of defective Chinese drywall was sent to Gulf Coast states after hurricanes in 2004 and 2005. The material is known to decay, creating corrosive chemicals and fumes.
Plaintiffs’ lawyers say they are considering action against U.S. investment bankers who financed the companies, and possibly seizing ships that transported the material to the United States.
Bombardier venture awarded Chinese contract for high-speed trains
Toronto (AP) — Train maker Bombardier Transportation says its Chinese joint venture has been awarded a $4 billion contract to build 80 high-speed trains for China’s railway ministry.
Bombardier Sifang Transportation Ltd. said Monday it will manufacture the trains in China. Engineering and project management will be done in China and Europe.
Bombardier’s share of the contract is estimated at $2 billion.
The trains will be made in Qingdao, a seaport and industrial city north of Shanghai in northeastern China. Bombardier Sifang employs more than 3,000 people in China.