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Case Study: Gruntal & Co., L.L.C.

On September 11, 2001, Gruntal & Co., L.L.C., a financial services investment company, was yet another victim of the terrorist attack that destroyed the Twin Towers in lower Manhattan. The firm’s close proximity to ground zero at 165 Broadway subjected the brokerage house to the tremendous wind, dust, moisture, acidic contaminants, collapse debris, and ash particles from the collapse of the Twin Towers. As evidenced by the photos at page right, Gruntal’s building systems (HVAC), Information Services (IS) equipment, and all office equipment, furniture & fixtures were contaminated with particulate matter.

The particulate from the dust cloud contained asbestos, chlorine, lead, mercury and many other dangerous elements, which contaminated the firm’s assets. Continental Machinery’s team of specialists was selected to provide project management services and a variety of consulting services including damage assessment, expertise via photographic evidence, sample collection, and forensic analysis.

Continental’s role as Project Manager was key to Gruntal’s timely resumption of operations. Continental oversaw and coordinated activities of all subcontractors. The team also provided a single point of contact between Gruntal and the insurance carrier so company personnel could focus on the recovery process and minimize costly time and efforts spent on the insurance claim.

Continental’s Loss Evaluation Report served as the final document for Gruntal’s machinery and equipment claim. This report included a comprehensive inventory and valuation of all damaged equipment and personal property complete with photographic evidence, inspection reports, forensic laboratory reports, environmental impact reports, project completion charts and supporting pricing.