Gold Bond is a brand name of numerous healthcare products, including lotions, powders, creams, and more. Prior to its current products, however, the Gold Bond brand was associated with a wallboard that went on to become so successful, that its named “gold bond wallboard,” got its own brand name. The wallboard, however, was manufactured with asbestos, leading to thousands of cases of life-threatening illnesses. Consequently, the company owner, National Gypsum, filed for bankruptcy to handle the rising claims.
If you’ve been diagnosed with mesothelioma, asbestos-related lung cancer, or asbestosis, keep in mind that you may be eligible for substantial compensation. There is currently over $30 billion in asbestos trust funds, set up for victims to asbestos-related diseases. Fill out our form to receive our free Financial Compensation Packet. Our packet is loaded with information on leading mesothelioma attorneys in your area, how to file a claim for asbestos trust funds, how to get paid in 90 days, and more.
Gold Bond History
Gold Bond was established in 1925 when the National Gypsum Company created a flexible, lightweight wallboard, with a $5,000 “gold bond” guarantee certificated that stated the product was far superior to any other similar product. The company was correct, and in turn, the wallboard became so popular that it spun into its own name and own division in the company: Gold Bond.
The National Gypsum Company was one of the few companies to survive and remain in business after the United States Great Depression. It turn, it expanded considerably, acquiring many subsidiaries and creating new products. Its Gold Bond wallboard and wallboard-related products remain the company’s most popular products to-date.
However, prior to the Environmental Protection Agency’s (EPA), National Gypsum marketed numerous asbestos-containing products under the Gold Bond brand name. From 1950 until 1970, employees, contractors and consumers risked developing asbestos illnesses due to Gold Bond products. Eventually, a string of people were diagnosed with diseases such as asbestos-related lung cancer and malignant mesothelioma. Thousands of lawsuits followed, placing the company in extreme financial hardship and leading up to bankruptcy.
Gold Bond Lawsuits and Bankruptcy
During the 1970s, asbestos-related claims against Gold Bond Building Products and National Gypsum Company started to mount. With seemingly no end to the claims in site, National Gypsum Company filed for Chapter 11 bankruptcy in 1990. Although the new company, now known as NCG, doesn’t manufacture asbestos-containing products, its high use in the past of manufactured asbestos products placed National Gypsum in direct liability of all of the claimants who developed fatal diseases after working with and/or around its products.
A provision of bankruptcy was that National Gypsum was required to develop a reorganization plan, which entailed setting up an asbestos trust fund that would compensate all pending and future asbestos-related claims. Once the company emerged from Chapter 11 bankruptcy, the Asbestos Claims Facility took over all of National Gypsum’s asbestos-related claims. In addition, in 2002, National Gypsum placed $347 million into the NGC Bodily Injury Trust, which protects the company from future asbestos lawsuits and pays off all pending and future claims.
Asbestos-containing Products by Gold Bond
As mentioned earlier, although National Gypsum was never directly responsible for manufacturing asbestos-containing products, its relationship in marketing asbestos-containing products made the company liable for thousands of illnesses and deaths. The following products were, at one point, marketed by Gold Bond:
- Gold Bond Plasters
- E-Z Soak
- All-Purpose Joint Compound
- Gold Bond Abestone
- Gold Bond Siding
- Gold Bond Asbestos Cement Board
- Gold Bond Non-perforated Asbestos Panels
- Gold Bond Asbestos Permaboard
- Gold Bond Plasticrylic Panels
- Gold Bond Humiguard Asbestos Panels
- Gold Bond Sprayolite
- Gold Bond Joint Compounds
- Gold Bond Natcor
- Gold Bond Texture Paint
- Gold Bond Fire-Shield Plaster
Unfortunately, since Gold Bond products were used in all types of occupational environments, not only were National Gypsum employees and contractors put at risk, but workers in a variety of different fields faced constant danger as well. For example, construction workers, insulation installers, and electricians worked with Gold Bond products, in addition to demolition workers, re-modelers, and more.
Additional Resources and Legal Information for Asbestos Victims
If you’ve been injured by asbestos, there is a good chance that you’ll qualify for considerable compensation. Remember to fill out our from to get your free Financial Compensation Packet, with information on asbestos and mesothelioma lawyers in your area. If you have questions or need additional assistance, contact us at 800-793-4540.