Synkoloid Company (Artra Group)

The Synkoloid Company of Bayonne, NJ is a manufacturer of paints, varnishes, paint and varnish brushes, bituminous derivatives, asphalt, adhesives and sealants, tape, pitch and gilsonite.

History of Synkoloid

Established in the early 20th century as a manufacturer of paint and related products, Synkoloid became a division of the Artra Group in 1975. When Artra acquired Synkoloid after a series of transactions, it assumed all the company's liabilities that arose after 1962.

In 1981, Artra sold Synkoloid's paint products, materials, inventory and assets to Muralo. The Asset Purchase Agreement signed in the transaction provided that Artra would indemnify and hold Muralo harmless from all product liability claims.

Synkoloid and Asbestos

The "hold harmless" clause in the asset agreement between Artra and Muralo was, for Muralo, a very important part of the transaction. For decades, Synkoloid had manufactured a long list of products that contained asbestos. Some of those included Eze Tex, Flexi-Patch, Plastibond, Sno Hide, Texwall, Tex Add and other popular products used in both commercial and residential applications. By the 1970s, lawsuits from asbestos victims began appearing.

Asbestos is a known carcinogen, causing the aggressive cancer mesothelioma and a variety of other pulmonary diseases. Asbestos was long used in many paint products, varnishes, sealants and other products Synkoloid manufactured, largely due to its strength and heat and fire resistance. Those most likely to have been exposed to Synkoloid products included painters, drywallers, contractors and others who made regular use of the company's extensive line of products.

In 2002, Artra filed Chapter 11 bankruptcy. Despite Muralo's hopes of avoiding asbestos litigation, they soon became the target of many asbestos claims. Up to this point, Artra had defended all the asbestos claims against Synkoloid. Because of the Artra bankruptcy and the new onslaught of claims, Muralo was also forced to declare bankruptcy in July 2003, facing about 50,000 asbestos-related lawsuits.

Artra emerged from bankruptcy in 2007. As part of its reorganization plan, the company established the Artra Asbestos Trust, which would address all remaining and future claims against Synkoloid. Muralo was permitted to continue operating throughout its bankruptcy "on its own merits" and also became the new owner of the Synkoloid Company. At this point, thanks to the establishment of the trust, Muralo was no longer liable for Synkoloid asbestos suits.

If you or a loved one have been diagnosed with asbestos-related disease as a result of working for Synkoloid or working with any of the company's products and would like more information, please fill out the form on this page to receive a comprehensive packet in the mail.