Celotex Asbestos Trust

Celotex is a manufacturing company that produced industrial thermal insulation for pipes and boilers. Celotex’s products were used for industrial construction and contained the toxic material asbestos for decades. Celotex is a subsidiary of Phillip Carey Manufacturing Company, which operated raw asbestos mines in Canada that supplied asbestos to factories in the United States.

The use of asbestos placed both the employees and the customers of Celotex at risk of contracting the severe illnesses caused by asbestos. As early as the 1920s, physicians recognized that exposure to asbestos caused severe sickness when asbestosis was identified by British medical journals. At the same time, insurance companies in the United States and Canada stopped selling life insurance to asbestos workers. Moreover, safer substitutes for most asbestos uses were known as early as the 1930s. Nevertheless, Celotex chose to protect its substantial profit margins rather than discontinue use of the mineral.

Additionally, the asbestos fibers remain in a person’s lungs for years and symptoms may not develop for decades. Thus, Celotex’s victims might live for decades without knowing of the deadly injury they sustained. Accordingly, mine workers, factory workers and construction workers who were exposed to asbestos by Celotex were at risk of illness. The majority of the products containing asbestos made by the Celotex Company were used for insulation and were produced between 1906 and 1973.

In 1990, Celotex filed for bankruptcy protection. As a result of the bankruptcy, a trust was created in 1998 to help compensate those whom Celotex has injured through use of toxic asbestos. If you or a loved one has been injured by Celotex, it is important that you contact The Gori Law Firm immediately for more information on your rights.