Ceramic Industry News

Owens Corning Pursues Restructuring, Growth Initiatives

May 4, 2001
/ Print / Reprints /
/ Text Size+
Owens Corning recently provided an update on its financial reorganization activities -- six months after the company and 17 of its domestic subsidiaries filed for protection under Chapter 11 of the U.S. Bankruptcy Code -- and reaffirmed its commitment to a number of long-planned initiatives designed to support the company's growth. The company said it is proceeding smoothly with the Chapter 11 reorganization process, led by Maura Abeln Smith, senior vice president, chief restructuring officer, general counsel and secretary, and a reorganization team pulled from a variety of departments throughout the company. The sole focus of this team is to manage the Chapter 11 process, enabling Owens Corning to meet all requirements of financial restructuring as efficiently and thoroughly as possible.

"Our chief responsibility is to manage the Chapter 11 process and develop a plan of reorganization to restructure the company while resolving, once and for all, our asbestos liability," said Smith. "Financial reorganization entails a comprehensive review of every aspect of our business. We are on track to complete this task, and develop and obtain approval for a comprehensive Plan of Reorganization."

For more information, visit http://www.owenscorning.com.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.



Image Galleries

April 2014 Issue Highlights

Our April 2014 issue is now available!


Sapphire: An Extreme Performer

Ian Doggett of Goodfellow and CI Editor Susan Sutton discuss the benefits and opportunities provided by industrial sapphire.

More Podcasts

Ceramic Industry Magazine

CI July 2014

2014 July

Our annual Data Book & Buyers' Guide is your best resource for suppliers of materials and equipment for the ceramic, glass, brick and related industries. Check it out!

Table Of Contents Subscribe


M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!


facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px