Hercules Chemical Company
The Hercules Chemical Company was founded and incorporated in 1915 by Sam Wander in New York City.
In 1994 the company moved its offices to Passaic, New Jersey. The company currently manufactures a variety of plumbing and heating products for use by professionals.
The company filed bankruptcy in US Bankruptcy Court for the Western District of Pennsylvania on August 22, 2008 in order to attempt to resolve over 7000 asbestos lawsuits, expecting to keep operating during the reorganization process. The lawsuits resulted from products made by the company which contained asbestos. The products were Sta-Put plumber's putty (1963-1986) and two cements.
The bankruptcy case was transferred to US Bankruptcy Court, District of New Jersey on September 18, 2008. The company successfully emerged from bankruptcy on December 22, 2009 with the approval of the reorganization plan. The plan was approved by the USDC, District of New Jersey on January 6, 2010. The effective date of the plan is February 9, 2010. All present and future asbestos-related claims are channeled into an independent Asbestos Trust.
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