Asbestos Manufacturers
Asbestos Manufacturers: 60+ Active Trust Funds Holding $30+ Billion for Victim Compensation
Executive Summary
American asbestos manufacturers knowingly exposed millions of workers to deadly asbestos fibers from the 1920s through the 1980s, creating one of the largest public health crises in modern history.[1] More than 60 companies have established bankruptcy trust funds collectively holding $30-35 billion for victim compensation, with payment percentages ranging from 0.84% (Keene Corporation) to 100% (NARCO).[2] Internal corporate documents revealed through litigation demonstrate that manufacturers knew about asbestos dangers as early as the 1920s but systematically suppressed health information and concealed risks from workers and the public.[3] Understanding each manufacturer's bankruptcy status, trust fund operations, and litigation history is essential for mesothelioma victims seeking maximum compensation through both trust fund claims and lawsuits against non-bankrupt defendants.
Key Facts
| Key Facts: Asbestos Manufacturers |
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Why Did Companies That Made Asbestos Products File Bankruptcy?
The asbestos litigation crisis fundamentally transformed American bankruptcy law, creating a unique system of trust funds designed to compensate current and future victims while allowing companies to reorganize.[7] Johns-Manville's 1982 bankruptcy established the template that over 60 companies would eventually follow, collectively setting aside more than $30 billion for victim compensation.
These bankruptcy trusts operate as independent entities, processing claims according to specific criteria and paying predetermined percentages of claim values based on available funds and projected future claims.[8] Understanding each company's bankruptcy status and trust operations is essential for maximizing compensation opportunities for mesothelioma victims.[9]
| "The evidence we've seen in decades of asbestos litigation consistently shows that companies knew about the dangers long before they stopped using these materials. Internal documents from the 1930s reveal systematic suppression of health information while workers continued to be exposed." |
| — Paul Danziger, Founding Partner, Danziger & De Llano |
The reasons for bankruptcy filings followed a consistent pattern: mounting litigation costs exceeded companies' ability to defend and settle individual lawsuits while maintaining business operations. By the early 2000s, some manufacturers faced over 400,000 pending claims simultaneously.[10]
Which Asbestos Manufacturers Have the Largest Trust Funds?
Trust fund payment percentages vary dramatically based on initial funding, claims volume, and actuarial projections for future liability. The following table presents the major trust funds organized by payment tier:
Tier 1: Highest Payment Percentages (30%+)
| Trust Name | Payment % | Mesothelioma Scheduled Value | Typical Payout | Total Paid |
|---|---|---|---|---|
| NARCO Trust | 100% | $75,000 | $75,000 | $2.3+ billion |
| W.R. Grace | 30.1-35% | $180,000 | $54,000-63,000 | $4.5+ billion[11] |
| Eagle-Picher Industries | 33-35% | Varies | $49,500-52,500 | $2.7+ billion[12] |
| Shook & Fletcher | 58% | $150,000 | $87,000 | $1.1+ billion[13] |
Tier 2: Moderate Payment Percentages (10-30%)
| Trust Name | Payment % | Mesothelioma Scheduled Value | Typical Payout | Products |
|---|---|---|---|---|
| Pittsburgh Corning | 19-20% | $175,000-250,000 | $33,250-50,000 | Unibestos insulation (90% amosite)[14] |
| Combustion Engineering | 6.25% (increased 2025) | Varies | Varies | Navy boilers, power plant equipment[15] |
| USG Corporation | 11% | $155,000 | ~$17,050 | Sheetrock, joint compounds |
| Armstrong World Industries | 10.8% | $110,000 | $11,880 | Flooring, ceiling tiles[16] |
Tier 3: Lower Payment Percentages (5-10%)
| Trust Name | Payment % | Mesothelioma Scheduled Value | Typical Payout | Claims Paid |
|---|---|---|---|---|
| Johns-Manville | 5.1% | $350,000 | $17,850 | 970,291[17] |
| Owens Corning | 4.7% | $270,000 | $12,690 | 436,800+[18] |
| Babcock & Wilcox | 4.7% | $90,000-150,000 | $4,230-7,050 | 403,000+[19] |
| Celotex | 7% | $130,000 | $9,100 | 145,000+[20] |
| Garlock (Mesothelioma) | 85% | $298,200 | $253,470 | Unique structure[21] |
| ✔ Multiple Trust Fund Claims: Most mesothelioma victims qualify for claims against 5-20+ trust funds based on their exposure history. A shipyard worker, for example, might file claims with Johns-Manville, Babcock & Wilcox, Garlock, Pittsburgh Corning, and numerous other trusts based on the products they encountered during their career. |
Which Manufacturers Supplied Asbestos Products to the U.S. Navy?
Navy and shipyard exposure accounts for a significant percentage of mesothelioma cases due to the extensive use of asbestos in shipbuilding from the 1930s through the 1970s.[22] For detailed vessel-by-vessel documentation, see the Navy Ships Asbestos Database. The following manufacturers had the most extensive documented Navy supply relationships:
Primary Navy Asbestos Suppliers
Johns-Manville Corporation was the world's largest asbestos products manufacturer from 1858-1982, supplying insulation products including Thermobestos Block (80% amosite), 352 Insulating Cement, and Fibrocel Insulation to virtually all Navy vessels.[23] The Johns Manville Trust now pays 5.1% of scheduled values, with mesothelioma claims receiving approximately $17,850 (5.1% of $350,000 scheduled value).
Babcock & Wilcox supplied marine boilers to the U.S. Navy since 1889, equipping over 4,000 military vessels during WWII including all Iowa-class battleships with 8 boilers each.[24] The company was one of the "Big Three" naval boiler manufacturers alongside Combustion Engineering and Foster Wheeler. Workers at Norfolk, Portsmouth, Philadelphia, Mare Island, Puget Sound, and other major shipyards had significant exposure during installation, maintenance, and repair operations.
Crane Company manufactured high-pressure steam valves with asbestos gaskets and "Cranite" packing material containing long-fiber asbestos. Each Navy ship contained 1,500 to 15,000 Crane valves with gaskets containing up to 90% asbestos.[25] In August 2022, Crane transferred all asbestos liabilities to Redco Corporation in a $633 million transaction, allowing claims to continue against Redco under Spruce Lake management.
Garlock Sealing Technologies manufactured gaskets and packing containing 75-90% asbestos for submarine and surface vessel applications, including compression packing, valve stem packing, and spiral wound gaskets.[26] The Garlock Trust uniquely pays 85% for mesothelioma claims—one of the highest payment percentages among major trusts.
Foster Wheeler supplied boilers and heat exchange equipment to the Navy, with asbestos insulation integral to their products. The company has paid over $700 million in asbestos settlements and continues defending lawsuits through its successor, Wood Group.[27]
General Electric and Westinghouse supplied turbines and electrical equipment throughout the Navy fleet. GE has settled over 400,000 asbestos claims while continuing to defend litigation. The 2019 Supreme Court decision in Air and Liquid Systems v. DeVries rejected the "bare metal defense" these manufacturers had long relied upon.[28]
| "Navy veterans and shipyard workers often have exposure to products from dozens of different manufacturers. We work to identify every potential defendant and trust fund claim to maximize total compensation for our clients and their families." |
| — Rod De Llano, Founding Partner, Danziger & De Llano |
Navy Supplier Compensation Matrix
| Manufacturer | Products | Trust Status | Payment % | Current Litigation Status |
|---|---|---|---|---|
| Johns-Manville | Insulation, pipe covering, cement | Active Trust | 5.1% | Trust claims only |
| Babcock & Wilcox | Marine boilers | Active Trust | 4.7% | Trust claims only |
| Crane Company | Valves, gaskets, packing | Redco Corporation | N/A | Active litigation (Redco) |
| Garlock | Gaskets, packing | Active Trust | 85% (meso) | Trust claims only |
| Foster Wheeler | Boilers, heat exchangers | No Trust | N/A | Active litigation[29] |
| General Electric | Turbines, electrical equipment | No Trust | N/A | Active litigation |
| Westinghouse | Turbines, electrical systems | No Trust | N/A | Active litigation |
| John Crane | Gaskets, packing | No Trust | N/A | Active litigation[30] |
| Buffalo Pumps | Marine pumps | No Trust | N/A | Active litigation |
| Warren Pumps | Marine pumps | No Trust | N/A | Active litigation |
| ⚠ Non-Bankrupt Defendants: Companies without trust funds (Foster Wheeler, John Crane, GE, Westinghouse, Buffalo Pumps) continue defending individual lawsuits. These defendants may offer higher settlements given the absence of bankruptcy protections, making them priority targets for litigation alongside trust fund claims. |
What Did Manufacturers Know About Asbestos Dangers and When?
Corporate knowledge of asbestos health hazards dates back nearly a century, with evidence showing systematic suppression of information while workers continued to be exposed.[31]
Johns-Manville Corporate Knowledge Timeline
1929: As early as 1929, 11 workers sued Johns-Manville for asbestos exposure—the beginning of documented litigation.
1933: Dr. Anthony J. Lanza, medical director of Metropolitan Life Insurance Company, reported findings to Johns-Manville revealing that asbestos exposure causes lung disease. The company conspired to withhold this information from the public. Johns-Manville's attorney specifically requested that Dr. Lanza downplay the risks of asbestos, and he complied.
1933: Johns-Manville's Board of Directors paid off 11 asbestosis victims in New Jersey and obtained agreement from the attorney who brought the cases not to file any others.
1930s: Johns-Manville and Raybestos-Manhattan executives repeatedly prevented the trade magazine Asbestos from mentioning asbestosis after 1930—a practice that continued until 1969.
1940s: Company records showed they knew about asbestos dangers in the 1930s and 1940s, despite later claims during World War II shipyard litigation that they didn't know asbestos was dangerous.
1970: The company created the Asbestos Information Association (AIA) to counteract growing public attention and government regulation of asbestos.
Corporate Concealment Across the Industry
Similar patterns of knowledge and concealment emerged across the asbestos industry:
Pittsburgh Corning knew that workers handling Unibestos (90% amosite asbestos) faced extreme exposure risks but continued production from 1962-1972, a decade that coincided with intense industrial development in the United States.[32]
Owens Corning concealed asbestos dangers from employees and consumers, as revealed in the landmark Barry v. Owens Corning Fiberglass Corporation (1992) case. A 1997 verdict awarded $31 million in punitive damages and $1.8 million in compensatory damages after the jury found the company had been aware of asbestos risks for more than three decades.
W.R. Grace operated vermiculite mines in Libby, Montana contaminated with tremolite asbestos, resulting in the contamination of millions of homes through Zonolite attic insulation. The EPA designated Libby a Superfund site in 2002. The WR Grace Trust currently pays 30.1-35% of scheduled values.[33]
What Were the Largest Mesothelioma Verdicts Against Asbestos Manufacturers?
Recent litigation demonstrates increasing willingness of juries to award substantial damages in mesothelioma cases. The average mesothelioma trial verdict in 2024 was $20.7 million, with average settlements ranging from $1-2 million.[34]
Notable Verdicts by Manufacturer
John Crane Inc.:
- $34.2 million - Portland, September 2025 (shipyard worker, gasket exposure)
- $1,917,400 - San Francisco, March 2006 (Navy machinist, Style 177 packing)
Crane Company:
- $17 million - Coulbourn v. Crane Co. (2016) - Norfolk Naval Shipyard machinist, $9 million compensatory + $8 million punitive damages
Owens Corning:
- $32.8 million - 1997 verdict including $31 million punitive damages
Multiple Defendants (Shipyard Cases):
- $40 million - William Gaborko (Long Beach/Mare Island Naval Shipyard worker, 2023)
- $23 million - Steamfitter with lifetime shipyard exposure
- $11.5 million - Navy Machinist Mate (Boston Naval Shipyard)
| ℹ 2019 Supreme Court Ruling: Air and Liquid Systems Corp. v. DeVries (March 19, 2019) rejected the "bare metal defense" in maritime cases, holding that manufacturers have a duty to warn about dangers of asbestos-containing parts integrated into their equipment, even if they did not manufacture the asbestos parts themselves. This ruling significantly expanded manufacturer liability for Navy veterans and shipyard workers. |
Which Insulation Manufacturers Created the Greatest Exposure Risk?
Insulation products created the highest asbestos exposure levels due to their friable nature—the ability to crumble and release respirable fibers during installation, maintenance, and removal. Insulation Workers and Boilermakers faced particularly high exposure risks. For a comprehensive list of asbestos-containing products, see the Asbestos Products Database.[35][36]
Major Insulation Manufacturers
Johns-Manville Corporation produced Thermobestos pipe covering (80% amosite asbestos), Vulcabestos insulation, and numerous other products that became ubiquitous in industrial facilities, ships, and power plants.[37] The company's Transite asbestos-cement products were so widespread that "transite" became a generic term for asbestos-cement materials.
Pittsburgh Corning manufactured Unibestos block insulation containing 90% amosite asbestos, one of the most dangerous asbestos fiber types. The Pittsburgh Corning Trust has paid over $3.14 billion to asbestos victims since inception and currently pays 19-20% of scheduled values.
Owens Corning produced Kaylo pipe insulation from 1942-1972, containing 6-8% chrysotile asbestos. The Owens Corning Trust has paid approximately 436,800 claims, with the trust currently paying 4.7% of scheduled values ($12,690 typical payout for mesothelioma).
Eagle-Picher Industries produced Super 66 insulating cement (50-65% asbestos content). The Navy invited Eagle-Picher in 1934 to begin producing for military applications, creating extensive exposure among servicemembers and shipyard workers.[38]
Celotex Corporation (originally Philip Carey Manufacturing Company) manufactured thermal insulation products from 1906 to 1973 and uniquely operated asbestos mines in Canada, controlling the entire supply chain. The trust currently pays 7% of scheduled values.
H.K. Porter Company manufactured Thermotex and other insulation products. The trust pays approximately 3% of scheduled values.[39]
Which Gasket and Packing Manufacturers Supplied Asbestos Products?
Gaskets and packing materials contained 10-85% asbestos, creating exposure during routine maintenance operations in virtually every industrial setting. Plumbers and Pipefitters, Marine Engineering Workers, and other trades handling these materials faced significant exposure.[40]
John Crane Inc. dominated the gasket and packing market with Style 177 packing containing 80% chrysotile asbestos. Their products sealed pumps and valves in power plants, refineries, and ships, with mechanics cutting and installing packing daily. A $34.2 million verdict in Portland (September 2025) against John Crane demonstrates ongoing litigation exposure.[41]
Garlock Sealing Technologies manufactured compressed asbestos sheet gaskets containing up to 85% asbestos, used in flanged connections throughout industrial piping systems.[42] The Garlock Trust uniquely pays 85% for mesothelioma claims—substantially higher than most trusts.
A.W. Chesterton supplied packing and sealing products to the Navy and industrial facilities. The company continues defending active litigation without a bankruptcy trust.
Flexitallic manufactured high-pressure gaskets for industrial applications and remains an active litigation defendant.[43]
What Products Did Boiler Manufacturers Make That Contained Asbestos?
Boiler manufacturers were essential suppliers to the Navy and power generation industry, with their equipment requiring extensive asbestos insulation. Boilermakers and Power Plant Workers faced significant exposure from these products.[44]
Babcock & Wilcox supplied marine boilers to the Navy beginning in 1889, equipping Iowa-class battleships and thousands of other vessels. The company's trust has paid approximately $1.94 billion to 403,000 claimants, with current payment percentage at 4.7%.
Combustion Engineering manufactured boilers, pressure vessels, and power plant equipment. The trust recently increased its payment percentage from 5.0% to 6.25% (July 2025), one of the few upward adjustments in recent years.
Foster Wheeler supplied boilers and heat exchange equipment with integral asbestos insulation. The company has paid over $700 million in asbestos settlements and continues defending active litigation through successor Wood Group.[45]
How Do Payment Percentages Change Over Time?
Trust fund payment percentages are not static—they adjust based on actuarial analyses of remaining assets versus projected future claims. Recent trends show both increases and decreases:[46]
2024-2025 Trust Fund Adjustments
| Trust | Previous % | New % | Change | Effective Date |
|---|---|---|---|---|
| Combustion Engineering | 5.0% | 6.25% | ↑ +25% | July 2025 |
| Plant Insulation | 16.5% | 20% | ↑ +21% | May 2024 |
| Shook & Fletcher | 50% | 58% | ↑ +16% | May 2025 |
| USG | 12.7% | 11% | ↓ -13% | November 2024 |
| Armstrong World | 13.5% | 10.8% | ↓ -20% | 2025 |
| AC&S | 4.9% | 3.2% | ↓ -35% | September 2024 |
| ⚠ Document Destruction Controversy: In early 2025, multiple trusts including W.R. Grace, Babcock & Wilcox, Pittsburgh Corning, and Owens Corning announced plans to destroy claim records over 10 years old. Despite objections from state Attorneys General, destruction proceeded for some trusts beginning April 2025. This may impact future fraud prevention and litigation. |
How Can Mesothelioma Victims File Claims Against Multiple Manufacturers?
Most mesothelioma victims qualify for claims against multiple manufacturers based on their exposure history.[47] A comprehensive compensation strategy typically includes:
1. Trust Fund Claims: File claims with all applicable bankruptcy trusts based on documented exposure to each manufacturer's products. Most claimants qualify for 5-20+ trust fund claims.[48]
2. Lawsuits Against Non-Bankrupt Defendants: Companies without trust funds (Foster Wheeler, John Crane, GE, Westinghouse, Buffalo Pumps) face active litigation and may offer higher settlements.
3. VA Benefits: Navy veterans and shipyard workers may qualify for VA disability compensation in addition to civil claims.[49]
Documentation Essential for Multiple Claims
Service and Employment Records:
- DD-214 (discharge papers) for military service
- Ship assignments and dates
- Rate/rating and duties performed
- Shipyard work orders (for civilian workers)
- Employment records from all relevant employers
Product Identification Evidence:
- Ship's plans and specifications
- Maintenance logs
- Fellow worker testimony
- Navy technical manuals
- Ship histories documenting equipment manufacturers
Medical Documentation:
- Pathology reports confirming mesothelioma diagnosis
- Chest X-rays and CT scans
- Pulmonary function tests
- Oncology treatment records
| "Reconstructing decades-old exposure history is one of the most important aspects of building a strong case. We work with industrial hygienists, former coworkers, and historical records to identify every manufacturer whose products our clients encountered during their careers." |
| — Paul Danziger, Founding Partner, Danziger & De Llano |
Get Help Today
If you or a family member has been diagnosed with mesothelioma after exposure to asbestos products, you may be entitled to compensation from multiple manufacturers through trust fund claims and litigation.[50]
|
Free, Confidential Case Evaluation Call (855) 699-5441 or visit dandell.com/contact-us No upfront fees • Experienced representation • National practice |
| ⚠ Statute of Limitations Warning: Filing deadlines vary by state from 1-6 years from diagnosis. Texas allows 2 years from diagnosis or discovery. Contact an attorney immediately to preserve your rights. |
See Also
- Asbestos Trust Funds
- Navy Ships Asbestos Database
- Navy Occupational Ratings
- Veterans Benefits
- Insulation Workers
- Boilermakers
- Plumbers and Pipefitters
- Power Plant Workers
References
- ↑ Asbestos Exposure Lawyers, Danziger & De Llano
- ↑ Mesothelioma and Asbestos Trust Fund Payouts Guide, Danziger & De Llano
- ↑ Johns Manville - Asbestos Exposure, Lawsuits, Trust, Mesothelioma.net
- ↑ Asbestos Trust Funds, Danziger & De Llano
- ↑ Johns Manville - Asbestos Use, Lawsuit and Trust Fund, Mesothelioma Lawyer Center
- ↑ Can I Sue for Asbestos Exposure?, Danziger & De Llano
- ↑ Asbestos Trust Funds vs Settlements: Guide for Victims, Danziger & De Llano
- ↑ Mesothelioma Asbestos Trust Funds, Mesothelioma.net
- ↑ Mesothelioma Trust Funds - Compensation Without a Lawsuit, MesotheliomaAttorney.com
- ↑ Babcock & Wilcox Company, Mesothelioma Lawyer Center
- ↑ W.R. Grace Asbestos Trust Payments & Lawsuits, Danziger & De Llano
- ↑ EaglePicher Industries Inc., Mesothelioma Lawyer Center
- ↑ Shook & Fletcher Asbestos Trust Payments & Lawsuits, Danziger & De Llano
- ↑ Pittsburg Corning Asbestos Trust Payments & Lawsuits, Danziger & De Llano
- ↑ Combustion Engineering, Mesothelioma Lawyer Center
- ↑ Armstrong World Industries, Mesothelioma Lawyer Center
- ↑ Johns-Manville Asbestos Trust Payments & Lawsuits, Danziger & De Llano
- ↑ Owens Corning - Asbestos Products, Lawsuits, Trust, Mesothelioma.net
- ↑ Babcock & Wilcox - Asbestos Products, Exposure, Lawsuits, Mesothelioma.net
- ↑ Celotex Corporation, Mesothelioma Lawyer Center
- ↑ Garlock Sealing Technologies, Mesothelioma.net
- ↑ Asbestos Exposure in Navy Shipyards: Veteran Risks, Danziger & De Llano
- ↑ Johns Manville, Mesothelioma.net
- ↑ Babcock & Wilcox Company, Mesothelioma Lawyer Center
- ↑ Crane Company, Mesothelioma.net
- ↑ Garlock Sealing Technologies, Mesothelioma Lawyer Center
- ↑ Foster-Wheeler - Asbestos Use, Exposure, Lawsuits, Mesothelioma.net
- ↑ General Electric - Asbestos Products and Lawsuits, Mesothelioma Lawyer Center
- ↑ Foster Wheeler, Mesothelioma Lawyer Center
- ↑ John Crane Company, Mesothelioma.net
- ↑ When Did Asbestos Manufacturers Know?, Danziger & De Llano
- ↑ Pittsburgh Corning, Mesothelioma Lawyer Center
- ↑ W.R. Grace Asbestos Trust, Danziger & De Llano
- ↑ Mesothelioma Settlements, Danziger & De Llano
- ↑ What Does Asbestos Insulation Look Like, MesotheliomaAttorney.com
- ↑ Asbestos Insulation and Mesothelioma, Mesothelioma.net
- ↑ Johns Manville, Mesothelioma Lawyer Center
- ↑ Eagle-Picher Industries, Mesothelioma Lawyer Center
- ↑ H.K. Porter, Inc., Mesothelioma Lawyer Center
- ↑ Asbestos Gaskets and Mesothelioma, Mesothelioma.net
- ↑ John Crane Company, Mesothelioma Lawyer Center
- ↑ Asbestos Products - Common Materials That Contain Asbestos, MesotheliomaAttorney.com
- ↑ Flexitallic, Mesothelioma Lawyer Center
- ↑ Asbestos Exposure in Boiler Workers, Mesothelioma.net
- ↑ Foster Wheeler, Mesothelioma Lawyer Center
- ↑ How Asbestos Trust Funds Support Victims' Families, Danziger & De Llano
- ↑ How to File Mesothelioma Claims: A Step-by-Step Guide, Danziger & De Llano
- ↑ Mesothelioma Compensation Guide, MesotheliomaAttorney.com
- ↑ Mesothelioma VA Claim: Veteran Asbestos Compensation, Danziger & De Llano
- ↑ Top-Rated Mesothelioma Lawyers, Danziger & De Llano