Document 15DqyeBe4BvLkkbyjv3aoVmnE

FILE NAME: Eternit (ETER) DATE: 2002 DOC#: ETER001 DOCUMENT DESCRIPTION: Wall Street Journal Article - Billionaire Activist Faces His Own Past THE WALL STREET JOURNAL. 2002 Dow Jonrt fi Company. All Right R**r>veti ___________ ________________ MONDAY, DECEMBER 9, 2002 Moral Fiber Billionaire Activist On Environment Faces His Own Past An `Eco-Efficiency'Advocate, Swiss Magnate Confronts Questions on Asbestos Mr. Schmidheiny's Conscience By David Bank billNioInEaDirEeRUSRteNpEhaNn, SSwchitmzeirdlhaenidn-ySwhiasss issptesnttoaadceccoaudnet pforor dthdeinirg cfeolmlopwaniniedsu'setrnivail arocncomuennttfaolrctohsetsd. eNaodwlyhlee'gsabceyinogf acsablleesdtotso winorhlids. own family's factories around the ingAIntaalyggisresinsivveestpigroastiencguttohrein55n-eyiegahrb-oolrd abfutseirnestshmeanalfloerge"dnleygligaesbnet sthoosm-riecliadtee,d" SdcehatmhisdhoefinyItaflaicatnosry whheore winortkheids simn alal SMwr.iss Stocwhmn.idIhfeicnhyarged and convicted, cuonudledr faIctealiuapn tola1w2 pyuetatrins ginwporriksoenrs foatr risk. ' of cTrihmeinaplocsshiabriglietys whahso shokcnkoewd maMnry. tShcohumghidtfhuelineynvairsona Hmeengtaailnebdenienftaecrtnoar. mtioonbaillizisntgaturceorpboy- SchSmteipdhhaeniny r1a99te2 EsuaprpthorStufmormthitein Rio--d--e--J-a--n--e-i-r-o--. He LhaastinproAmmoeterdicaGnrupbouNilduienvga-,phroisducclutsstearnodf rfoonremsternytaclolympsaonuineds, caaspiatamlisomde.l Aofndenvhie phhasilabnethcorompeistosnien oLfattihne Ammoesrticgae. nerous himHemosasyt sprthoeudacihsiegveettminegnthtihsaftammailkye'ss building-materials company, Etemit AG, osoumt oef 7t0heyeasabrsesatoftserbuhsiisnegsrsanindftahtehe1r99a0cs, qfiubirroeuds cnoantutrroall omf aatefraicatlotroystthreantgutsheedn tchee mtoenint.di"cItt'smdeiff..i.c.ulftotro siommagetihniengheIwhaanvtes donoeneof25myyeamrsosatgiom, pwohritcahntI asntidll bceosntspidreor fessional achievements," Mr. Schmid heinYyetsatyhse. story is more complicated tShcahnmitdhhaet.inAy sctleoeseredlooak mshidodwles tphaatht Mber. tween his environmental beliefs and his btaunscineesfsromintefroersetisg.n Fpaacretdnerwsithandreshiiss odwecnadfea,thuenr,tilit 19to9o0,k thoimshemdorme othsta-nbuat not all--of his family's asbestos opera tions. Recognizing Risk heinByy Eacutreodpeeaanrlys.tanAdasredrise,sMorf. Ssecmhminiadl satsubdeisetsosin athse a196p0ostiednetniatilflyiedfaetxaploshueraelttho rsitsokp.pedAmuseinrigcaint bycotmhepaenairelsy 1g9e8n0se.raBlluyt most of Europe, where asbestos was wbeidenelymuucshedslionwberuitlodidnrgopmiat.teTrihaels,Euhraos pean Union decided only in 1998 to ban asbOesnteosrebayso2n00f5o.r the lag: Europe d_idn't soenebtheheaklfinodfoAf mmaesrisc-ainnjuarsybelaswtossuivtiscftiilmeds usinntcile rtehceen1t9ly70, sw. eWreithunleregcaelpstyivsete' mtos:stuhcaht oacntliyonnso,wmcoamnyingEutorogpreipans wciothu:n.wtrhieast paeroe ple here are calling an "asbestos epi demEitce.m" it used asbestos in manufactur Tinhge rocoofimngp,anpyipesacaknndowelveedngeflsowtehratpotas.t lmeaesnt 45fafcotromryer heamvpeloydeieesd ofoifts mNeiesdoethrue- laisobmeast,oas efoxrpmosuorfel.uIntgiscna'nt ccelreacrayueset dhobwy mferanyfrocmurreontthearndrefsoprimraetrorwy'orkaeilrms esnutfs lsiannkdesd otfopeaospbleesthoasveinbheaelnatieoxnp. osTedhouto asbPelsetaosse iTn uprlnantots PinagEeuAr1o0p,e,CtohleumMnid5dle Wealthy Activist Faces His Past Epa,s.tt CAofnritcinaueadndFromLatFinirstAPmageerica in aatnonrdi*rfefnoromrredeprunioeamrtIhoplnisoylimenetPse.rren"saHstieosongmaoleesecnutvorirreothnnetchoenfeenrveinrcoenmineRntio, wanhdilewarittethsebsoaomkseatbimouet exposing people and the environment to oSfficial sw'hosawyosrFkeradncfoorBtwasoc>yaenartsTuinnitohnp early 1980s at Eternit's cement factofv I close the facdtiodrny'twhheehnavhee tkhneewcouthraagfeas0 bestos can make you sick?'' Tracking Deaths hnmidn tdheSfa^cto^ry,anmaapnayrtomfewnthobmlocckombepsfrloamrn,Itakleye,pTcuoruknetyoafntdhethdeeaftohrsmoefrnYeuigghoobuotrsananodld cpoh-owtoogrkrearpsh. oOfnheisrefasicdtoenryt wmodrlks Ogrnoeu,p heandsaypso,initss doeuatd twfroomcoSllehgees lungaailmenther ^ an undiW e d nit meet, pTenheedatnoswsoe-ranids-asolw?'ay''ss,ay'OshM, rh.eBdaisecdian'i" The prosecutor in Turin, Italy Raf at 1leSasta22s ahsb6e1s'?to' s^-relatheed hdaeSatrhesPoofrIttsaolf eabnos wsahyoswhoerkdeodefsonr'tEktenronwit.yMetr wGhueatrhienrScedcughemd.id,byhvel!ihbneey'spcoreemffpoaamrntsy.nto?Inpthfalaensye45eovuaetcnkatnshoMewsr>!kitna^yews hnaee"bNloassuknktesXstthiinenne'd1ra;aa1n1nt1eg"ie6nh1rt/Siemirvit'Sihetewhi0oe,wP"!nianf`t/efe'oucfddiusfgthneeoes'str facAtorsyelfs-udreeslcyrikbneedwraadbiocault itnhehmis s"tudent idnayths.e Mfarm. Silcyhmbuidsihneeisnsyintoo1k96h9,isefnirrostlliinogh n a five-month training program at a hea k ? rB^raZalv1e'yHaerdresmhicftm, lbuegrgsiwngorbkainggs - Z 7 n isrin[mestr^ ^ Etr tt ep rmn iitti 0o0 pk e0r Va teirn mg acnoamg ep ma neyn t i n o f t 1 h 9 e 76 maanidn mb eocraemteh arne s p20o,n00s i0b leem, aptl otyh ee easgI ne of w 7 T r mtngesa. rHeesesaorucghhtlaab tsepcechinficoaSllya "tof devsetalortp" safe substitutes for asbestos and install aXl t er rnn aa tri vpe,a ci ne mg reendti emn tas t erials. were tBoou t where exnpn csiovnetinour etdhoutoghut steo baesbleoswto-squathlirtoyu^gEhtertnhiet SEvwen iPfto* b e Kpa sl0enn?o uasft6hreUaltWh ads^andgee|rT H19n9n0 fMM Schm idheint.0y dmraPdeasabnesetoxscebpy- E S p S i S Mr. Schmidheiny says he fed mm Mpraeyssure from hiss Ifaattfhleerr tJo movee' sslotrwolnyg k ovCerm ?oans t T K e T K J L i t^ c o ^ n o L n ie ^ S lK ^ tie S S c9e1dSthr`alSt CthredyMoSuigpermiSaaynshWTSdfhaetmheerntcoinn` mtoagneyt oouft Eotfetrhneit'assbiensntofs bhu^sineeesns-ngBhutt mareonutndptahretnwerosrld naTMndlfs, 'ffnorre,gmnanmavge'esrts- SUfIInnr 1i997744n, yhhheeaw,teinltprtoobSiewmesdeans asrheosrutlnt, taoftbearnthaastbecsotuonst.ryEtbeerncaitmheadonteo oshf'uthtedofiwrsnt thtsisowpearsatuionnthsintkhaebrele.. "ITtowpaesopelreaTMlik"e Ius ucalylse.Mgru. tScahftmeridmheeientyi,ngthwenitha yvoaurinogusexsecic-"" rchhalngtSe'd^hims m,ienadd.eHrseadniddnp'otliwtiacniatntso bhee hasasromefmultedtoweitmhpalosyuebesst,anhcee wthraottecouinld abne UnPIInnbaann iinetideravHietwob,ioh8eTsaaPyhsichaeI ceosnssaiyd.ered itnhceonscciluensitvifei,c bsuttudthieesbuastintheess triimskes twoebree m' J conc,uded this was serious and i S ,, 5 pvps f ewher' ' o p " t e t a l TM A sol,!.E ,er',ll's wA h e r eLWsuoittabalSe S .i J n , ls ber cnoouwn t rHieos1,- w eren 't found h e ! i n a ,lve m aterials some wholly o'wied Bernli ShU` down r nihri;rirc s '" - lories 1 whtehS|h ? iM '""" onlne lacose SbesiA , y " ' rS. " nllTM M ' owners, we couldnuTM' As minority ** he tIrnanesafcehrresdalhe,isMcor.mSpcahnmy'isdehnetiinrye isnatyesr, teisets, tionctlhuedibnugyearlsl. pHoitsenetxiaitl flreogmal tlhiaebailsi "bWesetodsidbuitsienaerslsywoans, apnredscoitehnetr,shsetilalddbse. clioeuvleddtathkies ownatshenolitabailibtiiges.p"roblem and denTtehde hidsisfeonrtguangee.mBeuntthefrroembuilatsibtewstioths rsiucchc-ebsassfeudl inevnegsitnmeeenritnsginctohme p19a9n0ys inAZseua zBerrolwanndB. othveerifoGrreoruupn;nUernitoonUBBaSnkAoGf;Sawnidt cSrwedisistefdoowditghiahnetlpNinegstlreesScAu.e HtheeisSwalissos wtiuamtchthinadt ubsetcraymbeySinwvaetscthin. gIninLtahtiencAonmseorr niciat',sheopreeroartgioanniszeadndthebureilmt nGarnutpsooNfuEetvear,bheecaodmqueaornteeroefdthine CreogsitoanR'silcaar,gweshticsuhphpalis merasteorfiaplisp.es, lumber and other building his Hexeitsafryosmhaissbefisntoasncgiaavl esuhcimcesthseacfotenr rfiisdkenccehantogep.roHde fgelalionwedinwdoursltdr-iwaliidsets atto tbeunstiinoenssinat 1t9h9e2 Uasnittehde Ncahtiieofnsliaeinsovnironto TmheanttaleffcoorntferleedncetoinfoRrmioatidoen Jaonfeitrhoe. DWeovrledlopBmuseinnte, ss uCnoduenrcilwfhoorseSusatuaisnpaicbeles abbroaucted1-6a0t clehaiestf neoxmeciuntaivlleys-thheavenoteimonohfein"eycoh-aesffcichiaemncpyi,o"naedt.erTmheMidre. aScishmthiadt pamroptelec,tinugsinthge eennevrigryonmmeonret beyf,ficfioerntelyx, can"Hboeo'sstunpurosfuiatsl ians thwaetll.he likes to take othnetrhei'nsgas rthisakt omfafkaeilaurbei,g" ismaypsacJto, neavtehnanif ILnassthit,utper,esaideWntasohfinthgetonWoernldvirRoensmouerncteasl Sgrcohumpidthhaetinhya.s"rIefcaenivyebdodfyunidsianglefarodmer,Mhre. Harsh Scrutiny asbBesuttoswiathcctehleerdartiivneg,toMars.seSscshbmlaidmheeifnoyr hfiinnddssihgihmt.seSlfomuned5e,r00t0heEhuarrospheasncsruatinyyeaorf aanred dthyeinagnnoufaalscboeustnots-isreslatitleldridsiinsegasaecs, ScochrdoionlgotfoHayg19ie9n9estaunddy TbyropthicealLoMndedoni pcienaen. iAnssbuerestrossc-roeulladterdealciahb$il8i0tybiflolironE,uaroc tceorrhdoiunsgetoCaoorpeepros.rt last year by PricewaandLfiaobrmilietyr Slacwhmsuiidtshecinoynceemrnpinlogyeceusrraernet Fberagnincnei,nganto aappppeeaalrs arcoouunrtd itnheFweobrrlud.arIyn osapnednsedofthcelawimasy bfoyrfworhmatercoeumldplobyeetehsoouf naniesEtwehrnoitwjoeirnetevxepnotuserde atondasobthesetrocsomfropma Fthrean1c9e70sbtahnrnoeudghththee s1u99b0sst.anEcveenotnhloyugihn k19n9e7w,,tohreschoouurltdrhualevde kthnaotwcno,mabpoanuiteassbtheast t"ofasudteanigneerxscucsaanbleb,e" hoerldinleixabculesafbolre tfhaeiilr ure, to protect workers. hasInbeSenoutfhiledAforincab, ehaalsfepoaf rfaotermlearwesumit ppalonyyeeisn owfhEicvheriEteterLntidt.,healdceamemnitnocorimty istteakaeckunnotwille1d9g92e.dEthaarltie6r8 ethmisplyoeyaere,sEhvaevre dthieed1f9r4o0ms. asbestos-related diseases since ncaNneistuhietrs thneamFerenEcthernniotr, tMher.SoSucthhmAidf- choeminpyanoires.anMy r.ofSchhismicduhreriennytlysayoswniet 'ds jnuortedhiswroerskpeornss.ibSilwityissto ecmomplopyeneesasteciann mseseukrahneclpe afrgoemncyth, ahtecsoauynst,ryw'shiwleorwkoerrks- tehres eclosmewphanerieescathnatmhakaveeclaacimqusiraegdaiMnsrt Sch"mInidahleminoys'ts asltlakceass.es where we sold,' ttahkeirnegiscaarseoolvfethnitnbgisg,"cohme psaaynsy. cFaoprawbloerkof Sercshmwidithheinnyo'swchoemrepaenlysehatsoprtoumrni,sedMtro. taadrdiarenssbainsidsi.v"idual claims "on a humani anoTthheer tmharettaetr. oTfhecrimmainnaagl esraonfctEiotenrniis vt isctefodrminer19o9p7eoraftinoengsliginenIctealyforwapsutctionng awthpoaprnekaelar.syeatarriisnk parnisdons.enTtehnactecdasteo ims oorne The prosecutor in Turin, Mr. Guarins'echI0m, i,d1.ah1UeIijnchyecinl Sheispteinmvbesetrig2a0t0i1o,nafotefrMrer. acmeivoinngg Irtaeplioarntss wofhomheasodthreeltiuormneaddheoamthes TafhteerpwroosrekcinugtofrorsaEytserhneit hinasSwbeiteznerhlaanmd Spweriesds wbyortkheersr-einfususaral nocfeEatgeernncityatnodtuthrne oTvheer choemalptahnyreccoonrdtesnadnsditphearssornenseplonfidleesd Spwroipsesrlcyo,uartnsd. the issue is now before the .tos ^corn-tSrocvhemrsidyhheiansyresainyfsortcheadt thhies adsebsierse mtoalnoyweorf hhiiss pleuabdliecrsphriopfilpeosaintidontusrtno oovther tehres. RFioorcothnefeUre.nNc.e'sin10S-yeepatermfoblelor,wh-uepcoto mwreonttealainbiotioaktivaebso,uttitcleodr,po"rWatealkeinnvgirothne- < I a p'" t^ t he left t to his fellow authors DnPhumtcnh/S,,hCW^elalttGsE>rouCpci,!h?taoriirelmasuaHnncohilitdohafey bJoRro-okaynaadtl Mher cSocnhfmeriednhceeinyinskJoiphpaendneasltbougregt,hewrhich heaAd foefwAdnaoyvsaeAaGrl,iehri,shheohldaidngrecsoigmnpeadnays tsaacykilneg aistbewsatoss tiimsseuesf.orHneewhasPpeaolpsole reto rseigmnaeidnsaschcahiarmirmananofotfhGe rAuvpdonNauFeovuandHae 1 ttoionsaoncdialdonanatdes eanbvoiurton$5m0emnitlallioncaauyseeasr mostly in Latin America. chaTllhenegiendtoushtirsiarleipstutiastiaonng. u"iHshoewdcooyuldthiet sneoet uthpesevtayluoeu?o"f hwehsaatyIs.am"I wdooiunlgd jheaotpeatro dizeHde byexspormeseseaslleignadtiigonnast.i"on over ' the tpwroosedceucatodre'ss iangvoe.st"iIgaptrioomn iosef hyiosu,acItiwonilsl n"Oevnecre gion tao wanhilIet,alIiahnavperistoonlo,"okhemsyasyesl.f ginuytheinmtihrerore.yeIscaanndverfyeelweglol oldookabtohuist wpehrafetcIt,haanvde fdroonme.hOinfdcsoiguhrts,e,yonuobaolwdyayiss mknoorwe."more and you should have done --Anita GreilcoonftrDibouwteJdontoesthNisewasrwticirlees.