Synkoloid Company is a New Jersey-based manufacturer of paints, varnishes, adhesives and asphalts. The company developed an extensive line of products between 1949 and 1976 that contained high levels of asbestos.
Artra Group acquired Synkoloid Company in 1975 and became responsible for Synkoloid’s lawsuits, beginning with those filed in 1962. By the end of 2000, Artra had been a defendant in 46,000 lawsuits involving Synkoloid products.
In 1981, Muralo Company, Inc. purchased the majority of assets of the Synkoloid Company and agreed to take on any future claims against Synkoloid. However, it refused to take responsibility for any products manufactured before 1981. Because Muralo did not use asbestos in any products, the asbestos lawsuits still fell to Artra. Artra continued to take on the suits until it filed for bankruptcy protection in 2002.
At this point, plaintiffs had no choice but to include Muralo in their cases. Because of its small size, Muralo was unable to defend itself against the flow of lawsuits and filed for bankruptcy protection in 2003. By then, the company had been named as a defendant in over 60,000 asbestos-related lawsuits stemming from Synkoloid products.
Both Artra and Muralo reorganized in 2007. As part of a settlement between the two companies, Muralo’s insurers contributed $2.5 million to the Artra Asbestos Trust, which works to settle all asbestos lawsuits against the Synkoloid Company.
The Synkoloid Company remains an active division of Muralo Company, Inc.
Gain access to trust funds, grants and other forms of compensation for you or your loved ones.Get Help Now
Matt Mauney is an award-winning journalist with nearly a decade of professional writing experience. He joined 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 advancements. Prior to joining Asbestos.com, Matt was a reporter at the Orlando Sentinel. Matt also edits some of the pages on the website. He also holds a certificate in health writing from the Centers for Disease Control and Prevention. Read More