Gabelli Reports On NPO Asbestos Claims

Gabelli has published a report on EnPro Industries' NPO plans for handling asbestos claims. According to the report, “In June 2010, NPO established a trust to permanently resolve all current and future asbestos claims against Garlock Sealing Technologies under section 524g of the bankruptcy code. The company estimates that it will take anywhere from three to five years to reach a negotiated settlement with the plaintiffs on creating the trust.” NPO has a Hold Rating and closed yesterday at $36.01.