Yarway Corporation

Yarway Corporation History of Asbestos Use

Yarway Corporation, once known as the Simplex Engineering Company, was founded in 1908 by Robert Yarnall and Bernard Waring. After undergoing several brand changes, the company officially became Yarway Corporation in 1962 and its products can still be recognized under this name today.

Yarway found a niche in the steam power industry, focusing on the manufacture of steam traps, valves, gaskets and other components needed for power generation. Around the 1920s, asbestos was growing in popularity in the United States. The mineral was recognized for its durability and chemical- and fire-resistance, and was inexpensive. Like many other companies at the time, Yarway began to incorporate the mineral into its products, since heat resistance was key for the power industry.

Throughout the next several decades, Yarway Corporation’s products continued to grow in popularity and expanded beyond the power-generation industry. Over time, the company also produced products for the chemical, pulp and paper industries.

They remained a dominant player in the marketplace, grossing $70 million in sales in 1985. Two years later, Yarway was purchased by Keystone International, Inc, another large manufacturer of specialty valves, for $100 million. The merger saw years of success before Keystone was acquired by Tyco International Ltd. in 1997. Under Keystone, and by the time of Tyco’s acquisition, Yarway products no longer contained asbestos. The company halted use of the mineral in 1988.

Tyco continues to manufacture and sell Yarway products today, including pump protection valves, blow-off valves and boiler trim equipment.

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Yarway Asbestos Personal Injury Trust Fund

After filing a voluntary petition for relief under Chapter 11, the United States District Court for the District of Delaware affirmed the Bankruptcy Court’s confirmation order and approved the plan on July 14, 2015. The Yarway Asbestos Personal Injury Trust was officially established when the plan became effective on August 19, 2015. The asbestos trust fund was initially funded with $325 million and began accepting claims in December 2015.

The amount of compensation claimants may receive for their individual case can vary and be above base-level averages.

Most Recent Information From Yarway Asbestos Personal Injury Trust

The trust’s year-end 2024 report revealed, as of December 31, 2024:

• Approximately 3,885 Yarway Asbestos Personal Injury Trust claims were paid.
• Approximately 12,290 unliquidated personal injury claims were received by the trust.
• Over $31.435 million was paid to asbestos victims by the Yarway asbestos trust.
• Over $2.56 million was reported in settled but unpaid claims.
• Approximately $221.06 million in total assets remain in the trust.
• The trust has received approximately 213,100 unliquidated claims since it was established.
• Approximately 38,000 Yarway asbestos trust claims have been paid since the inception of the trust.
• Approximately $182.09 million in claim settlements has been paid to asbestos victims since the trust was established.

Current Yarway Asbestos Personal Injury Trust Payment Percentage

The current payment percentage is 27.5% for the Yarway Asbestos Personal Injury Trust.  At a payment percentage of 27.5%, the current payout on a Yarway Expedited Review claim for mesothelioma is $15,125.

Determining Review Process When Filing a Yarway Asbestos Personal Injury Trust Claim

An experienced asbestos lawyer will evaluate the injured party’s case to determine the appropriate review process when submitting a Yarway asbestos trust claim. A sample of Yarway claims filed between 2022 and 2024 indicated that approximately 100% of claims were filed under the Individual Review (IR) process and 0% of claims were filed under the Expedited Review (ER) process.

• Expedited Review Process: Yarway claims filed under the ER process will have an efficient review from the trust based on the medical and exposure criteria outlined in the Trust Distribution Procedures. Approved claims will be compensated according to the standard scheduled value associated with the diagnosed disease.
• Individual Review Process: Filing Yarway claims through the IR process may lead to higher payouts. The claimant’s exposure, medical, and personal records are thoroughly assessed to determine an individual liquidated value. IR submission is required for certain lung cancer claims, secondary exposure cases, or when standard trust criteria aren’t met.

The trust is currently accepting claims to compensate asbestos victims with payments determined by factors such as age, diagnosis, exposure history and the law firm’s settlement history. If you or a loved one were exposed to Yarway products and believe you are entitled to compensation, learn how a mesothelioma lawyer can help.

Yarway Corporation Asbestos Products

From the early 1920s to around 1988, Yarway manufactured a variety of products that contain asbestos. In various asbestos claims filed in more recent years, numerous exposure victims have named Yarway’s gaskets and packing as hazardous, as well as the company’s joint packing made of Teflon and asbestos from the 1940s to the 1970s.

Asbestos products manufactured by Yarway Corporation include:

• Yarway Process Steam Traps
• Yarway Series 40 Steam Traps
• Yarway Tandem Blow-off Valves
• Yarway Seatless (Simplex) Blow-off Valves
• Yarway Double-Tightening Valves
• Yarway Hydraulic Valves
• Yarway Air Control Valves
• Gun-Pakt Expansion Joints
• Wrought Steel Expansion Joints
• Cylinder Guided Expansion Joints
• Yarway (Simplex) Pipe-Joint Clamps
• Yarway Automatic Boiler Skimmer
• Yarway Starting and Pressure Unloader
• Yarway Adjustable Spray Head

Did You Know? Mesothelioma victims may be eligible for compensation from more than one asbestos trust fund. Filing a claim with one trust does not impact your eligibility for compensation from another trust fund. Learn More About Accessing Trust Funds

Yarway Corporation and Occupational Exposure

Yarway’s asbestos goods were manufactured and used across the country, putting thousands of people at risk of exposure. In addition to workers employed by Yarway and directly producing the products, workers from numerous other occupations also came into contact with the asbestos materials and faced exposure.

Asbestos Litigation Against Yarway Corporation

According to documents, Yarway was first named as a defendant in an asbestos lawsuit in 1991. Records show the majority of these original claims stemmed from asbestos use in the company’s gaskets and packing materials.

Between 2007 and 2012, Yarway noted they faced 10,000 mesothelioma lawsuits, which resulted in asbestos settlement totals of more than $125 million. In 2013, the company filed for Chapter 11 bankruptcy protection to help protect itself from the severe costs of future claims.

At the time of filing, Yarway contended that they had used all of the money from their insurance policies to pay the final claims and were unsure how to pay future claimants. They hoped to develop a reorganization plan that would create a trust fund for pending and future asbestos claims against them.

In reorganizing through bankruptcy, leadership also wanted to keep liability away from Tyco, which wholly owned Yarway Corporation, as they hadn’t used asbestos in their manufacturing. When the plan was approved, the court confirmed that Tyco would be immune from any pending or future asbestos-related claims.

Questions About Filing a Claim Against Yarway Corporation? Ask experienced mesothelioma advocate Jennifer Lucarelli Ask a Question