Honeywell Says It Has Reached Agreement for NARCO Claims

MORRIS TOWNSHIP, N.J. - Honeywell has announced that it reached definitive settlement agreements with nearly 90 percent of the plaintiffs who hold claims against its former North American Refractories Co. (NARCO) unit. In Re North American Refractories Co., No. 02-20198 (W.D. Pa. Bankr.).

The company announced the in-principle agreements on Jan. 17, saying that they will cover all pending and future NARCO-related asbestos claims filed against the company.

Honeywell once owned NARCO, but sold the company in 1986. Since then, it has been named as a defendant in lawsuits by claimants who contend they were injured as a result of …