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American Biltrite Inc.'s Majority-Owned Subsidiary Congoleum Corporation Announced That It is Seeking to Resolve Its Asbestos Liability.

Publication: Business Wire
Publication Date: 13-JAN-03
Format: Online - approximately 540 words
Delivery: Immediate Online Access

Article Excerpt
Business Editors

WELLESLEY HILLS, Mass.--(BUSINESS WIRE)--Jan. 13, 2003

American Biltrite Inc. (AMEX: ABL) announced that its majority-owned subsidiary Congoleum Corporation (AMEX: CGM) reported today its strategy for resolving current and future asbestos claims liability. The strategy involves negotiating a global settlement with current asbestos plaintiffs. In furtherance of this strategy, Congoleum has begun preliminary settlement negotiations with attorneys representing the majority of plaintiffs with asbestos claims pending against Congoleum. Upon successful completion of these negotiations, Congoleum intends to file a...

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