Armstrong to emerge from Chapter 11; U.S. District Court OKs modified plan

After nearly six years in bankruptcy as a result of asbestos-related litigation, Armstrong World Industries said it expects to emerge from Chapter 11 protection in Q4 of 2006. The statement came following a decision by U.S. District Court Judge Eduardo Robreno confirming Armstrong's fourth amended plan of reorganization, dated Feb. 21, 2006. The Lancaster, Penn.-based company said that a formal confirmation order should soon be entered by the District Court.

"I am grateful for the support of our employees, customers, suppliers and other business partners during the reorganization process," said Michael D. Lockhart, Armstrong's chairman and CEO. "Consistent with our purpose in seeking relief under Chapter 11, the plan provides the company with a binding resolution of its asbestos liability."