In 1955, Basic bought the building materials manufacturing line of Kelley Island Company, which had begun the process of liquidation. Two months after the sale, Kelley Island was formally dissolved. Among the product lines which Basic purchased was a product known as Kilnoise, a lime-based material which contained asbestos. Prior to 1955, Kelley Island sold products containing Kilnoise to plaintiffs-respondents City of New York and the Board of Education for use in school...
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