Crane Co.

Crane Co. & Asbestos Exposure

Founded in 1855 by Richard Teller Crane as a modest bell and brass foundry, Crane Co. quickly grew to meet the rising demand for steam power by expanding its industrial product offerings.

An early government contractor, Crane Co. supplied brass fittings and other equipment to the U.S. government during the Civil War.

The company was a pioneer in industrial innovation, introducing line production in foundries and developing mechanized systems to improve efficiency. It also embraced early marketing strategies, publishing its first product catalog in 1866.

Beginning in the 1930s, however, Crane Co. incorporated asbestos into its widely used Cranite product line. Like many manufacturers of the time, it continued to use asbestos for decades, despite mounting medical evidence of the material’s health risks, eventually phasing it out in the 1980s.

Today, despite several name changes over its 150+ year history, Crane Co. remains an active, publicly traded company listed on the New York Stock Exchange.

2022 Asbestos Liability Divestment

In 2022, Crane Co. took strategic steps to shield its ongoing business operations from historical asbestos liabilities. While similar in intent to the controversial “Texas Two-Step” strategy used by other asbestos companies, Crane Co.’s approach differed in several key ways.

The typical Texas Two-Step involves a company creating a new, underfunded subsidiary to assume all asbestos liabilities, which then immediately files for bankruptcy, effectively pausing all current and future litigation.

On August 12, 2022, Crane Co. transferred its asbestos-related liabilities to Redco Corporation. That same day, it entered into a Stock Purchase Agreement with Spruce Lake Liability Management Holdco LLC.

As part of the transaction, Redco was divested to Spruce Lake, a firm specializing in managing legacy corporate liabilities, along with all related asbestos obligations, insurance assets, and $550 million in cash.

This move effectively removed all asbestos liabilities from Crane Co.’s core operations. However, because no bankruptcy was filed, victims can still pursue legal claims directly against Redco.

Dangers of Asbestos-Related Diseases

Asbestos refers to a group of six naturally occurring minerals that share similar properties. All types are nonconductive and highly resistant to heat, fire, and chemicals. Structurally, they break apart into long, durable fibers that can easily become airborne and cling to hair, skin, and clothing.

Manufacturers like Crane Co. used asbestos for its ability to improve product durability and resistance. It was also inexpensive and widely available. These advantages led many companies to continue using asbestos as an industrial additive, even after its health risks became well known, putting profits ahead of public safety.

All forms of asbestos are hazardous, though some types are more dangerous than others. Once inhaled or ingested, asbestos fibers do not break down in the body. Instead, they become lodged in tissues, causing chronic inflammation, scarring, and genetic damage that can lead to serious asbestos-related diseases, including:

• Mesothelioma
• Lung cancer
• Asbestosis 
• Other cancer
• Pleural effusions
• Pleural plaques
• Pleural thickening

Mesothelioma is a rare but aggressive form of cancer that develops in the mesothelium, the thin layer of tissue that surrounds the lungs, abdomen, heart, or testes. It is an especially deadly disease with high treatment costs, often exceeding $400,000 per year when paid out of pocket.

Asbestos exposure is the only known cause of mesothelioma.

Financial Compensation From Crane Co.

Crane Co. has never declared bankruptcy and does not operate an asbestos trust fund. All of its asbestos liabilities are now handled by its former subsidiary Redco, which was sold to Spruce Lake Liability Management in 2022.

Injured parties can pursue compensation by filing an asbestos lawsuit against Redco. Victims and their families have two primary methods available for seeking legal compensation:

• Personal injury lawsuit: Allows living victims of asbestos exposure to seek compensation for their losses.
• Wrongful death lawsuit: Allows the dependents or family members of deceased asbestos exposure victims to recover damages for the loss of their loved one.

Because the use of asbestos was so widespread, many victims encountered asbestos products and activities through multiple companies. An experienced asbestos lawyer can help victims track down and pursue compensation from all responsible manufacturers, thereby maximizing their potential award amount and ensuring all negligent parties are held accountable.

Victims may also be eligible for other forms of compensation, including:

• Benefits from the U.S. Department of Veterans Affairs (VA)
• Workers’ compensation
• Treatment grants

Asbestos Lawsuits Against Crane Co.

Ronald Dummitt

Ronald Dummitt developed mesothelioma after exposure to asbestos from Crane Co. valves during his work as a U.S. Navy boiler technician. He and his wife, Doris, sued Crane Co. along with 67 other defendants. 

The jury found Crane Co. 99% liable, initially awarding $32 million, a verdict that was later reduced to $8 million.

James Poage

James Poage served as a machinist mate in the U.S. Navy from 1954 to 1958, where he was exposed to asbestos, leading to his death from mesothelioma in 2014.

His widow, Jeanette Poage, filed a wrongful death lawsuit against Crane Co. After a two-week trial, the jury found Crane Co. liable for the death of her husband, awarding her $10.8 million. 

Gerald Suttner

Gerald Suttner was a pipefitter at General Motors’ Tonawanda Engine Plant, where he worked with asbestos-contaminated Crane valves. He developed and eventually died from mesothelioma.

Before his death, he and his wife Joann filed suit against Crane Co. and 37 other defendants. After his death, his wife added a wrongful death claim, eventually winning $3 million in damages.

Asbestos-Containing Products Used at Crane Co.

During its more than 150-year history, Crane Co. has produced a wide variety of industrial products used across multiple industries.

However, the bulk of their asbestos liabilities are tied to their Cranite line of products, which included:

• Cranite boilers
• Cranite gaskets and gasket materials
• Cranite pumps (used some asbestos gasket materials)
• Cranite sheet packing
• Cranite valves (used some asbestos valve packing materials)

Occupations At-Risk

In addition to its employees, Crane Co. endangered end users across a broad spectrum of industries and professions.

High-risk occupations include:

• Boilermakers
• Construction workers
• Demolition workers
• Factory workers
• Machinists
• Maintenance workers
• Plumbers/pipefitters
• Power plant workers
• Shipyard workers
• Steel mill workers
• U.S. Navy veterans

Additionally, the loved ones and family members of asbestos workers also faced significant risks due to secondhand exposure from asbestos particles carried home on clothes, skin, and hair.

Get Help Today 

Asbestos manufacturers like Crane Co. were aware that their products were toxic and hazardous. Yet, many failed to warn employees and customers about the risks. This negligence has contributed to hundreds of thousands of cases of serious asbestos-related illnesses, including mesothelioma, lung cancer, asbestosis, and more.

When companies put profits ahead of people’s health and safety, the consequences can be devastating. Victims and their families often face not only life-altering health challenges but also emotional distress and financial hardship.

Our experienced legal partners are here to guide you through the complexities of asbestos litigation. With personalized legal strategies, we work to maximize your potential compensation and hold negligent companies accountable.

Our compassionate team is here to help. Contact us today for a free case evaluation. 

Written & Legally Reviewed By

Daniel Wasserberg, Esq. Attorney and On-Site Legal Advocate

Daniel Wasserberg was a New York metropolitan area “Super Lawyer Rising Star” from 2013 to 2018 (attorneys under age 40), and a Super Lawyer in 2019. In 2017, Daniel was named a “Top 100 Civil Litigator” by the National Trial Lawyers organization. This recognition is rarely awarded to attorneys under the age of 40. Daniel is proud to call himself a Trial Lawyer, and is often asked to speak at gatherings of the nation’s leading attorneys, from both sides of the bar.

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