EPA bans last form of asbestos used in U.S. (NYSE:OLN)

The U.S. Environmental Safety Company on Monday issued a complete ban on asbestos, which has lengthy been linked to numerous kinds of most cancers.

The EPA’s announcement of the ultimate rule applies to chrysotile asbestos, the one type of asbestos presently being utilized in or imported to the U.S.; it’s the world’s commonest kind of asbestos, utilized in merchandise corresponding to brake linings and gaskets, in addition to within the manufacture of chlorine bleach and sodium hydroxide, also called caustic soda, together with some that’s used for water purification.

The Asbestos Illness Consciousness Group mentioned the EPA’s motion will primarily affect OxyChem (OXY), Olin (NYSE:OLN), Westlake (WLK) and Chemours (NYSE:CC).

The EPA rule is the primary to be finalized below prior amendments within the Poisonous Substances Management Act, a 2016 regulation that licensed new guidelines for tens of hundreds of poisonous chemical substances present in on a regular basis merchandise.

Publicity to asbestos is linked to greater than 40K deaths within the U.S. annually.