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Raytech Composites Inc history
Raytech Composites Inc company history timeline
In January 1988, Raytech spun off Raymark entirely to distance Raytech's non-asbestos-related corporate assets from the claimants.
Filing for Chapter 11 Bankruptcy in 1989
Raytech continued to maintain that it had no successor liability, litigating the matter for eight years until finally in October 1995 the United States Supreme Court rejected the argument, thus forcing the company to bow to reality and begin to negotiate with the parties suing it.
In 1996 Raytech bought a stake in Advanced Friction Materials Company, a Michigan maker of bands for automatic transmissions.
"Raytech Corporation ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/raytech-corporation
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