W.R. Grace's Stock Implodes On Asbestos Liability Concerns.(Owens Corning)(Brief Article)

From: Chemical Market Reporter | Date: October 16, 2000| Author: CHANG, JOSEPH | Copyright information

Grace shares fall to an all-time low of $3.25.

THE SURPRISE bankruptcy filing by the nation's largest building materials maker Owens Corning on October 5 has crushed the stock prices of companies that have asbestos liability. Among the casualties is W.R. Grace & Co., a leading specialty chemicals manufacturer with annual sales of $1.5 billion.

The financial implications for Grace are cloudy, pending Owens Corning's Chapter 11 bankruptcy proceedings. "The impac...

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