Rapid American Corporation (Philip Carey Manufacturing Corp.)

Rapid American Corporation (Philip Carey Manufacturing Corp.) used asbestos in its insulation and industrial equipment. Lawsuits related to asbestos exposure led to bankruptcy in 2013. The company has not yet reorganized but is seeking approval for a liquidation and asbestos trust.

With more than $30 billion currently set aside in trust funds, you may qualify for substantial compensation if you’ve been diagnosed with mesothelioma, asbestosis, or asbestos-related lung cancer. We invite you to fill out our form today for a free Financial Compensation Packet, filled with information about experienced mesothelioma lawyers in your area, how to get paid in 90 days, how to file an asbestos trust fund claim, and much more. 

Philip Carey/Rapid American History

Established in 1888 in Cincinnati, Ohio, the Philip Carey Manufacturing Corporation was an insulation company that mined asbestos for more than eight decades. The company’s insulation was used in machinery and products such as boilers, pipes, and generators.

During the 1970s, Phillip Carey merged with the Rapid American, which started the stages of a long line of litigation to follow.

Although Rapid American didn’t manufacture asbestos-containing products, its merger with several companies that did, including Philip Carey, eventually led to bankruptcy.

Rapid American Lawsuits and Bankruptcy

By the 1970s, shortly after merging with Philip Carey, Rapid American began facing thousands of asbestos-related lawsuits.

In addition to merging with Philip Carey, Rapid American also acted as a holding company for the McCrory variety stores, a chain of stores associated with asbestos.

The accumulation of asbestos-related claims got so high that by 2013, Rapid American filed for Chapter 11 bankruptcy with more than 275,000 claims against it, equaling over $100 million.

Under 13-10687, U.S. Bankruptcy Court, Southern District of New York (Manhattan), the company listed their assets at $86.9 million and cited asbestos-related claims as to the reason for bankruptcy.

“Recently, Rapid has experienced an increase in the number of mesothelioma claims being filed against it, and an increase in the dollar amount sought to settle claims,” said Rapid American Vice President, Paul Weiner.

In 2021, Rapid American put forth a plan to liquidate its assets and establish an asbestos trust fund for claimants.

Philip Carey/Rapid American Asbestos Products

Philip Carey manufacturing numerous asbestos-containing products, including:

• Carey Thermo-Board Concrete
• Carey Rock Wool
• Asbestos Magnesia Diatomite Rock Wool
• Fire-Chex Singles
• Carey Ceramo Glazed Asbestos Siding
• Carey Ceramo Baked-on Ceramic Finish
• Carey Hi-Temp No. 19 (asbestos fiber bonded into commercial pipe insulation)
• Fibrated Emulsion
• Carey Fireclad Jacketing
• Careystone Asbestos Cement Roofing

Workers in various occupations were affected the company’s asbestos-containing products, including:

• Machinists
• Factory Workers
• Electricians
• Metal Workers
• Insulation Repairers
• Insulation Installers
• Boilermakers
• Pipe Installers, and more

If you worked with Rapid American or Philip Carey products and now have an asbestos illness, talk to a mesothelioma lawyer. They can help you get compensation once a trust becomes available.

Additional Resources and Help for Asbestos Victims

Remember, if you’ve been diagnosed with an asbestos-related illness, there is a good chance you’ll qualify for considerable compensation. Don’t forget to fill out our form to get our free Financial Compensation Packet, filled with information on the experienced asbestos and mesothelioma attorneys in your area.