Equitas in $300mn asbestos deal

Equitas is reported to have reached a deal with six US industrial concerns to settle workers’ asbestos claims for a total of $300mn. The payments include $137mn to Kaiser Aluminum, $33mn to the Crane Co. engineering group, $19mn to the Congoleum flooring-products group, and a combined $111mn to three unidentified US companies.The settlements with Kaiser Aluminum and Congoleum are subject to conditions relating to the pending bankruptcies of these companies.