Owens Corning Emerges From Bankruptcy
TOLEDO, Ohio - Owens Corning announced its plan of reorganization is now effective, marking the company’s emergence from Chapter 11 Bankruptcy protection.
TOLEDO, Ohio - Owens Corning announced its plan of reorganization is now effective, marking the company’s emergence from Chapter 11 Bankruptcy protection.
“This is an exciting day for Owens Corning,” said Dave Brown, the company’s president and CEO. “We have met the commitments that we made to our creditors and asbestos claimants at the start of this process.”
Owens Corning’s plan of reorganization is the result of an agreement the company reached in May with key creditors groups. The company will immediately begin the process of making distributions to its financial creditors and to a 524(g) trust that will resolve its current and future asbestos liability. The full plan of reorganization and related disclosure statement are available at www.ocplan.com.
“We are emerging from Chapter 11 in a strong operational and financial position,” said Brown. “During the past six years, we have continued to grow our businesses around the world and have strengthened our financial performance. We are pleased to be emerging as an investment-grade company.”
For more information, visit www.owenscorning.com.
TOLEDO, Ohio - Owens Corning announced its plan of reorganization is now effective, marking the company’s emergence from Chapter 11 Bankruptcy protection.
“This is an exciting day for Owens Corning,” said Dave Brown, the company’s president and CEO. “We have met the commitments that we made to our creditors and asbestos claimants at the start of this process.”
Owens Corning’s plan of reorganization is the result of an agreement the company reached in May with key creditors groups. The company will immediately begin the process of making distributions to its financial creditors and to a 524(g) trust that will resolve its current and future asbestos liability. The full plan of reorganization and related disclosure statement are available at www.ocplan.com.
“We are emerging from Chapter 11 in a strong operational and financial position,” said Brown. “During the past six years, we have continued to grow our businesses around the world and have strengthened our financial performance. We are pleased to be emerging as an investment-grade company.”
For more information, visit www.owenscorning.com.
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