The company at the center of controversy over its asbestos contamination in the past has agreed to a deal to resolve asbestos related claims by setting up an asbestos claims fund. WR Grace had many lawsuits filed against it over asbestos exposure from Zonolite attic insulation. It filed for bankruptcy in 2001.

This insulation was sold in the United States between 1925 and 1985 according to reports. Officials have said that WR Grace has agreed to put thirty million dollars into the asbestos claims fund, and has agreed on a further thirty million in another three years.

Furthermore, over the next twenty years another eighty million dollars could be added to the claims fund, according to a recent report. The settlement is still to be approved, but it is thought that those making a claim will receive around fifty five percent of the costs to get the insulation removed up to a maximum of just over four thousand dollars.

Industry officials have said that the deal should enable all claims that have been filed against the company over this issue to be settled and resolved.

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