Gabelli Reports CIR Resolved Asbestos Case

Gabelli has reported that Circor International's CIR asbestos case has come to a resolution. According to Gabelli, “ In February, the U.S. District Court approved CIR's 524g trust to permanently resolve the company's asbestos liabilities. The company will make a one-time $75 mm payment to the trust, and put the remaining asbestos insurance proceeds into the trust.” CIR has a Hold Rating and closed at $41.74 yesterday.