Beginning in 1959, Bondex manufactured products used widely in the construction industry and by non-commercial consumers looking to do their own home improvements.
Reardon Co., Bondex’s parent company, was purchased by Republic Powdered Metals in 1966.
This helped Bondex expand its product line, which used asbestos until approximately 1981. The company received raw asbestos fibers for use in production from a distributor called T H Agriculture & Nutrition.
Bondex’s array of product selections included high-grade construction adhesives like joint compound, cement, and roofing sealant, as well as finishing materials like texture paints.
Bondex products were distributed by the company itself and sold through some major retail locations. These included JCPenney (Penncraft), Wards (Montgomery Ward retailers), Reardon, Dramex, and Trax.
The company’s products were marketed originally towards home improvement projects for the average consumer, meaning that you did not have to use Bondex professionally to still have been at risk of exposure to asbestos.
Whether repairing a roof for home improvement or employment, this type of work requires the manipulation of products that would release asbestos-containing dust into the air. Inhaling asbestos-containing dust is what leads to asbestos-related diseases.
Facing over 20,000 lawsuits, Bondex International filed for Chapter 11 bankruptcy on May 31, 2010. By 2014, Republic Powdered Metals joined in the bankruptcy proceedings.
In 2016, Bondex created the Bondex Asbestos Personal Injury Settlement Trust under its Chapter 11 Joint Plan of Reorganization. It was funded with almost $800 million. The current payment percentage is 22%.
In 2021, 4,614 claims were filed with the Trust, according to its annual financial report, and it paid 1,440 claims.
The report also details that it paid about $27,700,000 in claims in 2021, adding to the approximately $230,300,000 the Trust has paid since it was established.
We’ve helped thousands of people receive the compensation they deserve for their asbestos injuries. Let us help you. You can contact asbestos attorney Justinian C. Lane at Asbestos Claims Law via his website at https://www.AsbestosClaims.law.
Email directly at help@asbestosclaims.law.
Or call anytime at (833) 4-ASBESTOS (427-2378).
