Donald L. Beaver, the Bellwood resident who created the “PIG absorbent sock” in 1981 — when, during an experiment, he inserted ground corn cob into a nylon sleeve — has agreed to a buyout of his interest by New Pig Corp. and its holding company, New Pendulum Corp.

The buyout was released late last week by New Pig CEO Clark Stapelfeld, the son of Ben Stapelfeld, who, with Beaver, formed New Pig in 1985.

The release reported that “Ben Stapelfeld and Don Beaver negotiated a buyout of all interests held by Don Beaver in New Pig Corp. and related affiliates.”

As of Nov. 30, 2022, “Don Beaver no longer has any ownership interest in New Pig Corp. or its affiliates.”

The announcement came after a seven-year legal battle between Ben Stapelfeld, the directors of the corporation and Beaver that ended in October when Blair County Judge Daniel J. Milliron adopted findings by a court-appointed master recommending dismissal of claims by Beaver that he had not been receiving promised royalties from his investment and that he had been frozen out of the decision-making process involving the operations of the New Pig and New Pendulum.

Milliron in his October order found that an alleged oral agreement between Beaver and Ben Stapelfeld to pay shareholders a specific portion of fees under the company’s license agreement was not legally binding on the directors or New Pendulum because it was invalid under Delaware law, where New Pig and New Pendulum were incorporated.

The case didn’t end with the issuance of the judge’s order.

On Nov. 10, the judge received notice of appeal from Beaver’s attorneys.

The judge ordered the attorneys to file a statement of alleged errors concerning his decision, and on Dec. 1 — the same day the settlement was announced — the statement, listing 13 questions to be raised before the appellate courts, was filed.

The situation was clarified by Beaver and by Clark Stapelfeld that a buyout agreement had been reached.

Pittsburgh attorney Andy Fletcher, representing the Stapelfelds and the companies said all legal actions in the case will be dismissed.

Neither side offered any further comment.

What began as an experiment by Beaver to absorb petroleum-based waste through the development of The PIG original sock has evolved into a company that, according to Clark Stapelfeld, employs 760 workers through its various affiliates.

According to the original lawsuit, the company by 2015 had annual revenue of $220 million.

The announcement of the settlement indicated the company is “the leading international brand for managing leaks, drips and spills.”

PIG (Pulls In Grease) products are used in more than 100 countries located in all seven continents.

The company, at 1 Pork Ave., Tipton, offers a variety of products and every year comes up with new offerings, stated Clark Stapelfeld.

He said one of the most popular products these days are called grippy mats, or adhesive-backed floor mats.

Beaver, before becoming involved with New Pig, was involved in the industrial cleaning business and became partners with Ben E. Stapelfeld when they bought a franchise from ServiceMaster, a company that had franchises in more than 40 Pennsylvania counties.

Their company was called Sermac.

By 1984, the PIG absorbent sock had become “a huge success,” and according to the lawsuit, New Pig was formed by Beaver and Stapelfeld, who raised capital by selling stock to friends and relatives.

When suggesting that the Pig Corp. was his legacy, Beaver replied,”My legacy is wrapped up in my love for Jesus.”