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Armstrong DLW AG
On May 30, 2003, Armstrong World Industries, Inc. received approval of its Disclosure Statement in the Chapter 11 reorganization
case from the U.S. Bankruptcy Court in Wilmington, Delaware. Armstrong will soon begin printing and mailing to creditors the Disclosure Statement, the Plan of Reorganization and ballots
for voting. Following the solicitation of votes, the Court will hold a hearing to consider confirmation of Armstrong’s Plan.
It is anticipated that such hearing will be in mid-November, 2003. If the Plan is confirmed, Armstrong expects that the Plan
will be implemented shortly thereafter. The Plan is supported by the asbestos personal injury claimants’ committee, the representative for future asbestos personal
injury claimants and the unsecured creditors’ committee. Armstrong’s Disclosure Statement, Plan of Reorganization, Solicitation
Procedures and related press releases are available at www.armstrongplan.com. Armstrong entered into Chapter 11 to use the court-supervised process to resolve its liability for asbestos personal injury
claims with finality. Armstrong believes the Plan will accomplish that objective while serving fairly and in proper balance
the interests of all stakeholders. We appreciate your support during our Chapter 11 process. When we filed for Chapter 11 protection, we asked for and received
court approval to continue business as usual with our customers. All then existing warranty, guarantee programs were continued
without change. As AWI emerges from Chapter 11, it intends to leave its customer programs unchanged. We will continue to
stand behind our products and services. We hope to continue to deserve your support. The Chapter 11 case began on December 6, 2000, when Armstrong World Industries, Inc. filed for voluntary protection under
Chapter 11 of the U.S. Bankruptcy Code in order to settle claims arising from U.S. asbestos personal injury litigation. Armstrong
DLW and its subsidiaries were not affected by this filing, as each is a separate corporate entity. For press releases and other information, click on the left navigation for “Chapter 11 Information.” |
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