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twitterAsbestos claims lead to manufacturer’s bankruptcy
Wednesday, Dec. 6, 2000 | 11:06 a.m.
THE ASSOCIATED PRESS
LANCASTER, Pa. -- Armstrong World Industries Inc., a major manufacturer of floor coverings and ceiling systems, said today it filed for chapter 11 bankruptcy protection to resolve its asbestos-related liabilities.
The company estimates that some 175,000 personal injury claims could cost it between $758.8 million and $1,363.3 billion through 2006.
Widely used for insulation in the 1940s and 1950s, asbestos, when inhaled, can cause lung cancer and asbestosis, a lung-scarring disease. Armstrong stopped selling products containing asbestos in 1969.
More than 25 former asbestos makers have filed for bankruptcy, including Pittsburgh Corning Corp., Babcock & Wilcox Co. and Owens Corning Inc.
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