EnPro Industries and a bankrupt subsidiary, Garlock Sealing Technologies, have struck a deal with a plaintiffs’ lawyer to set aside $357.5 million to cover asbestos related claims, but others are expected to oppose the deal. EnPro and Garlock, a bankrupt maker of asbestos-lined gaskets, said in a release late on Tuesday that the agreement could be approved in 15 to 24 months as part of an amended reorganization plan it will submit to the North Carolina court where Garlock filed for Chapter 11 bankruptcy in June 2010.
