GAF Materials Corporation
GAF Materials Corporation is a leading North American building products manufacturer and currently has the top selling brand of commercial roofing in the US. In addition to roofing, GAF manufactures decking, railings, decorative stone, ductwork, and specialty fabrics.
GAF was established in 1929 as the American arm of the German chemical company I.G. Farbenindustrie, which was a leading industrial conglomerate and the single leading profiteer in World War II. At the time, GAF manufactured dyestuffs, pharmaceuticals, solvents, lacquers, photographics and films. In 1967 GAF acquired the Ruberoid Corporation, which brought a strong portfolio of roofing and roofing related products to its product line. Unfortunately, a large number of those products contained asbestos, including insulation, roofing shingles, siding and other construction products. Along with the purchase of Ruberoid, GAF also acquired their Belvidere Mountain asbestos mine in Lowell, Vermont.
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Asbestos was a favored material for products such as insulation and roofing material because of its amazing ability to resist heat and flame and its low cost. Unfortunately asbestos also has the ability to become embedded in the delicate molecular linings of the internal organs, and are not easily expelled by the body. Over many years the embedded fibers can cause scarring and irritation, a condition that can eventually lead to a range of deadly asbestos-related disease such as mesothelioma, a rare but deadly form of cancer.
GAF faced a number of lawsuits due to the use of asbestos in its products and its ownership of the asbestos mine, and in 2001 the company declared bankruptcy. The company resolved its bankruptcy with the establishment of an asbestos trust fund to address unsettled and ongoing asbestos claims. Despite bankruptcy and excessive asbestos debt, GAF Corporation continues to be a successful and viable company.