To obtain the subject composition free from asbestos fiber and having excellent heat-resistance, mechanical and electrical properties, sliding property, etc., by including a specific condensed phenol aralkyl resin and a phenolic resin.

This composition is produced by including (A) a condensed phenol aralkyl resin having a weight-average molecular weight of 1,500-15,000 and expressed by the formula [R is H or an alkyl; Z is H, etc.; (x) and (y) are each 0-2 provided that (X+Y)≠0; (n) is ≥1] (produced by properly compounding a phenol aralkyl resin with an aldehyde such as formaldehyde and reacting in the presence of a catalyst) and (B) a phenolic resin (e.g. a combination of a novolak phenolic resin precondensate with a resol-type phenolic resin precondensate) without using asbestos fiber. The amount of the component A is 5-70 wt.% based on the total amount of the above composition.