History of T&N
T&N is a wholly-owned subsidiary of Federal-Mogul that was acquired in March 1998 when Federal-Mogul purchased 100% of its stock. T&N was incorporated in February 1920 in England as Turner & Newall Ltd. The four original companies from which T&N was formed – Turner Brothers Asbestos Co., Washington Chemical Co., J.W. Roberts Ltd., and Newalls Insulation Co. – manufactured asbestos-containing textiles, thermal insulation, industrial insulating mattresses or, in the case of Newalls, installed manufactured insulation materials. From the 1920s to the 1950s, the group expanded into the manufacture, distribution, sale and installation of virtually every type of asbestos-containing product in numerous countries throughout the world, including sprayed-on and pre-formed asbestos-containing insulation, asbestos cement pipe, asbestos-containing building materials, and numerous other products. It also grew vertically, ultimately controlling or owning outright (through independently-operated non-U.K. subsidiary companies) asbestos mines in Canada and southern Africa.
T&N filed for bankruptcy in October 2001.
History of Gasket Holdings Inc. (“Flexitallic”)
Gasket Holdings, Inc. (f/k/a Flexitallic, Inc.) (“GHI”) was formerly a wholly-owned indirect subsidiary of T&N and, as a result of Federal-Mogul’s purchase of T&N, became a wholly-owned indirect subsidiary of Federal-Mogul. GHI began business in Camden, New Jersey in 1912. GHI was later purchased by a group of investors that incorporated the company in Connecticut as Flexitallic Gasket Co., Inc. in 1963 and sold 100% of GHI’s stock to T&N in June 1970. T&N later reincorporated GHI in Delaware as Flexitallic, Inc. in 1986. T&N sold GHI’s assets to Dan=Loc in 1997. GHI single asbestos-containing product was a spiral wound industrial gasket invented by GHI’s founder in 1912.
The company filed for bankruptcy in October 2001.
History of Ferodo
Ferodo was a wholly-owned indirect subsidiary of T&N and is now a wholly-owned indirect subsidiary of Federal-Mogul. Ferodo was established as Nuturn Corp., a Delaware corporation, in June 1977 when T&N created it to acquire the friction materials and brake operations of Maremont Corp. and the “Grizzly” and “Leland” trade names. In 1979 Nuturn purchased the “Worldbestos” trademark from Lear Siegler, Inc., under which it marketed break blocks and linings. In January 1991, Nuturn changed its name to Ferodo America, Inc. Ferodo’s asbestos-containing products included disc pads, clutch facings, heavy-duty brake linings, and drum brake linings.
The company filed for bankruptcy in October 2001.NEXT LESSON