Raymark (Raybestos-Manhattan Industries, Raytech)

Raymark (Raybestos-Manhattan Industries, Raytech) is a brake and brake lining manufacturer that used asbestos in its products for many years. The resulting laws over mesothelioma and other illnesses forced the company into bankruptcy. It reorganized and funded a trust to compensate victims.

With more than $30 billion currently set aside in trust funds, you may qualify for substantial compensation if you’ve been diagnosed with mesothelioma, asbestos-related lung cancer, or asbestosis. Fill out our form to receive our free Financial Compensation Packet. Our packet is loaded with information on experienced mesothelioma attorneys in your area, how to file a claim for asbestos trust funds, how to get paid in 90 days, and more. 

Raymark History

Established in 1902, Raymark started as the A.H. Raymond Company, named after its creators. Shortly after, the name was changed numerous times to Raytech, Raybestos Industries, Raybestos-Manhattan, and finally to Raymark.

The company created its empire around Raymark-brand brakes, which used asbestos to manage the heat produced by friction.

For numerous years, the company knew of the dangers of asbestos, yet ignored all warning signs because the greatest focus was on making a profit.

Raymark Hides Asbestos Information

According to internal documents, a past president of Raymark had a long history of suppressing information about using asbestos in the company’s products, which became one of the reasons that it lost so many lawsuits.

Records also indicate that the president, on several occasions, hid evidence presented to the company that asbestos was indeed dangerous so that the financial gain could continue.

Afterward, asbestos-related claims against Raymark began piling up as people developed malignant mesothelioma and other toxic diseases.

Raymark Lawsuits and Bankruptcy

Regardless of how much information the company tried to hide, the overwhelming proof showed that Raymark frequently used asbestos in its products.

In the 1980s, years after the Environmental Protection Agency (EPA) warned of the dangers of asbestos to humans, the company stopped using the toxic set of minerals in its products.

Although the company fought aggressively against the mounting lawsuits, too many people were injured. In turn, Raymark filed for Chapter 7 bankruptcy in 1998.

Shortly after, Raytech sought Chapter 11 bankruptcy. When the company emerged from bankruptcy, it created the Raytech Corporation Asbestos Personal Injury Settlement Trust.

Per court documents, the asbestos trust fund has $52 million in assets meant to handle asbestos-related personal injury claims.

Raymark Environmental Exposure

According to the EPA, Raymark violated many environmental laws, leading to numerous people who never worked for the company developing illnesses.

A total of 41 residential homes were affected after decades of Raymark dumping hazardous wastes. So far, at least 29 of the properties have since been cleaned up.

Schools, playgrounds, and public buildings were so contaminated due to Raymark’s negligence that the Agency for Toxic Substances and Disease Registry (ATSDR) warned the public that they were at risk of infection via clothing, soil, and simply breathing air.

Stratford, Connecticut, in particular, has a high rate of danger. ATSDR states that residents of the Stratford area aged 25 and under have a higher than average rate of mesothelioma.

If you worked with Raymark brakes in the past, you could be at risk for malignant mesothelioma. Contact an asbestos attorney or law firm to help you get compensation through the trust.

Additional Resources 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. Remember to fill out our form to get your free Financial Compensation Packet, with information on asbestos and mesothelioma lawyers in your area.