Thompson & Knight's attorneys meet the financial, regulatory, products liability, and tax needs of companies that produce chemicals, fluorochemicals, polymers, plastics, and related products. Our extensive energy industry practice is the foundation for our practical knowledge as counselors of chemical manufacturers, their institutional investors, and companies with similar concerns in product lines as diverse as pharmaceuticals and cement. Thompson & Knight defends chemical companies against intellectual property, product liability, and environmental lawsuits, helps them raise capital and buy or sell operations, and advises them on daily operational concerns ranging from employment issues to tax law.
We regularly assist chemical industry clients with major national and international business transactions, combinations, and joint ventures. For example, in one $2 billion transaction, we provided the federal tax guidance that helped a client sell part of its chemical products businesses to a foreign corporation and structure two joint ventures of associated chemical business assets. In another major business combination, we helped 13 chemical companies form a strategic alliance valued at more than $1 billion. We handled debt and equity portfolio investments in the polymer chemistry industry for a venture capital client and frequently advise on project financing transactions.
Our attorneys are effective advocates of chemical companies in product liability and toxic tort litigation. We have defended chemical companies in cases alleging inhalant abuse of chemical substances in at least five states, none of which went to trial. We were also national defense counsel in multistate litigation against a manufacturer whose chemical formula was used in leather protection products. Additionally, our litigators have defended manufacturers in numerous toxic tort cases alleging exposure to asbestos and hazardous chemicals.
Environmental liability is also a fact of life for chemical manufacturers and their lenders, and Thompson & Knight's attorneys understand the special environmental risks our clients face. We defended and settled a mass tort brought by 4,000 downwind neighbors of a polymer plant in Odessa, Texas. We also defended a petrochemical plant against a class action suit brought by nearby residents alleging air and water pollution damages that constituted environmental discrimination, settling the matter for our client. Beyond the courtroom, our attorneys handle brownfield redevelopment work involving former chemical plant sites, and routinely provide due diligence and permit transfers in mergers, acquisitions, and other investment transactions.