Celotex Corporation

  • Amount in Trust: $1.246 million
  • Year Trust Was Created: 1998
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In the 1920s, the Celotex Corporation of America and its subsidiary, the Celotex Company of Great Britain, established themselves as importers of bagasse fiberboard. Since its founding, Celotex has undergone multiple name changes. Celotex reincorporated in 1964 when Jim Walter purchased the Celotex Corporation of America.

Celotex Corporation Facts:
  • Founded: 1921
  • Years Operated: 1925 - Present
  • Headquarters: Tampa, Florida
  • Business: Insulation, roofing and building materials
  • Asbestos Trust: Yes
  • Bankruptcy Status: Filed October 12, 1990 and reorganized on December 9, 1996

The company’s primary business is to make and distribute building products used both residentially and commercially. Another Celotex subsidiary was a company, Carey Canada Inc., which mined and processed asbestos fiber for Celotex products. The mine exposed workers to asbestos and contaminated products until it closed down in 1986.

After Celotex reorganized in 1997, BPB PLC of the United Kingdom bought Celotex’s ceiling products and gypsum wallboard operations in 2000. As of 2012, Celotex continues operations in the United Kingdom, selling polyisocyanurate insulation, which meets energy needs using thin material.

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Litigation & Specific Lawsuits

Despite the fact that Celotex and its mining subsidiary both defended themselves against lawsuits, asbestos-related liabilities mounted quickly. Celotex faced thousands of personal injury lawsuits and hundreds of property damage lawsuits. By 1998 Celotex had encountered 380,000 claims related to asbestos fibers, with health claims as high as $200 billion.

Marion George filed one such claim against Celotex, after her husband, Stuart, died from mesothelioma. For 48 years Stuart worked for an asbestos insulation contractor and distributor, handling almost all of the Carey products in the warehouse and breathing in asbestos dust. In 1989 the jury awarded $588,000 to Stuart’s estate.

Haskel and Mattie McNair also won a case against Celotex, based on exposure to asbestos dust from working with Celotex insulation products. The case included 12 other manufacturers and the judge held Celotex responsible for 30 percent of the total damage amount of $125,000.

Celotex filed for Chapter 11 bankruptcy in October 1990. The company’s reorganization plan was approved in 1996 and included the creation of the Asbestos Settlement Trust. From that point forward, Celotex was relieved of all current and future asbestos-related liability, having transferred it all to the trust.

The trust was formally founded in 1998 and took on asbestos claims for both Celotex and its mining company. The asbestos settlement trust owned 100 percent of Celotex until its wallboard and ceiling interests were bought by BPB. The rest of the company, however, remains with the trust.

Celotex is among 14 major asbestos companies featured in the Global Asbestos Market Research Report 2023, which was published February 2019. The report provides the newest industry data and industry future trends, including forecasts, analysis and discussion of key factors influencing the market.

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Industries & Occupations

Celotex sells insulation used for industrial equipment, using asbestos because of its ability to withstand fire and extreme temperature. Commercial and residential construction projects, asbestos mines and manufacturing facilities are all locations that may expose people to asbestos.

Those who install or handle Celotex products, such as construction workers, repairmen, boiler workers, pipefitters, home remodelers, roofers, contractors and shipyard workers may develop illnesses from contact with asbestos-contaminated insulation.

Celotex owned its own asbestos mine in Canada, where it employed workers who spent their days breathing in asbestos fibers. Confined spaces made mine exposure especially toxic. Residents of the town near the mine face dangerous levels of exposure as well.

Celotex employees were exposed to asbestos as they manufactured company products. Many health organizations maintain that any level of asbestos exposure is unsafe as some people develop mesothelioma cancer after only being exposed a few times.


Asbestos could be found in Celotex products such as:

  • Carey firefoil board and panel
  • Careystone roofing and siding
  • Celobric buff blend textured
  • Celobric insulating brick siding
  • Carey Stone corrugated sheets
  • Carey Cenesto board
  • Carey industrial A-C Boards
  • Carey Marine Panel
  • Carey thermalite
  • Careyflex board
  • Careystone sheathing and baffles
  • Vitricel asbestos sheets.

Trust Pays City for Damages

In 2003 the Celotex Asbestos Settlement Trust paid New York City for property damages of schools and buildings based on over 400 claims. The trustees attempted to deny payments, but were ordered by the court to make payments which would exceed $40 million.

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Writer and Editor

Matt Mauney is an award-winning journalist with more than a decade of professional writing and editing experience. He joined The Mesothelioma Center at Asbestos.com in 2016, and he spends much of his time reading, analyzing and reporting on mesothelioma research articles to ensure people in the mesothelioma community know the latest medical advances. Prior to joining Asbestos.com, Matt was a Community Manager at the Orlando Sentinel. Matt also edits pages, articles and other content on the website. He holds a certificate in health writing from the Centers for Disease Control and Prevention.

Walter Pacheco, Managing Editor at Asbestos.com
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8 Cited Article Sources

  1. Cardozo, M. (2003 July 21). Florida Bankruptcy Court Orders Celotex Asbestos Trust To Pay New York City For Asbestos Claims. Press Release. Retrieved from: http://www.nyc.gov/html/law/downloads/pdf/pr072103.pdf
  2. Celotex Asbestos Settlement. (2004). Retrieved from: http://celotextrust.com/default.asp
  3. Celotex Insulation Specialists. (2012). Celotex History. Retrieved from: http://www.celotex.co.uk/celotex-history
  4. Crosby, J. What Every Lawyer Needs To Know And Have To Work in Asbestos Litigation. Retrieved 2012, June 29 from Retrieved from: http://www.crosbylegal.com/
  5. Elder, L. (1998, January 19). With bankruptcy hurdle cleared, Celotex with shutter local operations. Houston Business Journal. Retrieved from: http://www.bizjournals.com/houston/stories/1998/01/19/story6.html?page=all
  6. Malkani, G. (2000 June 3). UK: BPB snaps up Celotex interests. Financial Times. Academic OneFile. Web. Retrieved 2011, March 30.
  7. Rand. (2010). Asbestos Bankruptcy Trusts: An Overview of Trust Structure and Activity with Detailed Reports on the Largest Trusts. Retrieved from: http://www.rand.org/pubs/technical_reports/2010/RAND_TR872.pdf
  8. Pioneer Reports. (2019, February 27). World Asbestos Market Research Report 2024 (Covering USA, Europe, China, Japan, India, South East Asia And Etc). Retrieved from: https://www.pioneerreports.com/report/world-asbestos-market-research-report-2024-covering-usa-europe-china-japan-india-south-east-asia-and-etc/163250

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Last Modified March 4, 2019

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