Topic - Armstrong World Industries

Armstrong World Industries, Inc. is a Pennsylvania corporation incorporated in 1891. It is an international designer and manufacturer of floors and ceilings. Based in Lancaster, Pennsylvania, Armstrong operates 32 plants in eight countries and has approximately 8,500 employees worldwide. Armstrong World Industries, Inc. emerged from Chapter 11 reorganization on October 2, 2006. Its stock began trading on the New York Stock Exchange October 18, 2006 under the ticker symbol AWI. The Armstrong World Industries, Inc. Asbestos Personal Injury Settlement Trust, holds approximately 66% of AWI’s outstanding common shares. Armstrong's “Fourth Amended Plan of Reorganization, as Modified,” dated February 21, 2006, and confirmed by U.S. District Court Judge Eduardo Robreno in August 2006, The Plan includes a comprehensive settlement resolving AWI’s asbestos liability by establishing and funding a trust to compensate all current and future asbestos personal injury claimants. The company had filed for reorganization December 6, 2000, with the federal bankruptcy court in Delaware for reorganization under Chapter 11 because pending asbestos injury claims appeared to exceed the value of the company, and were growing. - Source: Wikipedia