Armstrong files fourth amended Plan of Reorganization and Disclosure Statement
Armstrong World Industries
Inc. (AWI), the operating subsidiary of Armstrong Holdings Inc. (AHI), has filed its fourth amended Plan of Reorganization
(POR) and proposed Disclosure Statement with the U.S. Bankruptcy Court in
Wilmington, Del. The proposed Disclosure Statement contains revised projected financial information for reorganized AWI required for the Chapter 11 process.
The revisions reflect developments regarding AWI's business since December 2002 and current economic and financial conditions and are adverse in comparison to the projections previously filed by AWI in the Chapter 11 process to a degree that is not immaterial. These projections factor prominently into the valuation of the
consideration to be distributed under the POR.