The Celotex Corporation was founded in early-1920 in Chicago, Illinois as a subsidiary of the Philip Carey Manufacturing Company. Celotex insulation was introduced in 1918. Its industry was building materials (now a trust firm since 1996) and its headquarters were in Chicago, Illinois (1920-1965), Tampa, Florida (1965-2001) and Saint Petersburg, Florida (2001-2017).
The company entered into receivership in 1932 and reemerged in 1935 as the Celotex Corporation. In 1963, the Jim Walter Corporation acquired 61% of Celotex's stock, and a year later Celotex became a wholly-owned subsidiary. The company filed for bankruptcy in early-1990 and was reorganized in 1996 as a trust handling asbestos-related lawsuits owned by the Asbestos Settlement Trust. The company sold off its wallboard business to BPB plc and its roofing products business to CertainTeed in 2000. In 2001, it sold its fiberboard products division to Knight Industries, Inc. and its rigid foam insulation division to the Dow Chemical Company.
SUBSIDIARIES
- Carey Canada, Inc.
- Celotex, Ltd. (est. 1925)
- Certain-teed Products Corporation (1938-1966)
- Philip Carey Manufacturing Corporation (1972-1972)
PLANTS
- Marietta, Ohio
- Marrero, Louisiana
- New Orleans, Louisiana
COMPANY NAMES
- Celotex Company (1920-1935)
- Celotex Corporation (1935-2017)
PRODUCTS
- "Celotex" Insulation
- Cane Fibre
- Rock Wool
- "Celotex" Triple-Sealed Shingles
- "White Rock" Gypsum Wallboard
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