RPM International Inc. has announced that two of its subsidiaries have reached an agreement to resolve their liability for asbestos exposure by setting up a bankruptcy trust seeded with $797.5 million in cash or stock.

Bondex International Inc. and its parent company, Speciality Products Holding Corp., will file a plan of reorganization in the U.S. Bankruptcy Court for the District of Delaware. They initially filed for bankruptcy in May 2010.