Pittsburgh Corning Receives Confirmation Of Plan Including Asbestos Settlement

The modified third amended Chapter 11 plan of reorganization of Pittsburgh Corning Corporation, as modified through May 15, 2013, was confirmed on May 24 in the U.S. Bankruptcy Court for the Western District of Pennsylvania (In re Pittsburgh Corning Corporation, Bankr. W.D. Pa., No. 00-22876 (JKF)).

The debtor is owned equally by PPG Industries and Corning Incorporated, according to a May 28 press release. Court documents state that PPG is headquartered in Pittsburgh and is a manufacturer and distributor of coatings, glass, chemicals, and fiberglass. Corning manufactures specialty glass and glass ceramic products, including optical fiber and related ...