Flintkote Files Chapter 11 Bankruptcy Petition

WILMINGTON, Del. - A former manufacturer of building materials that ceased operation in the 1980s has filed for Chapter 11 bankruptcy protection, citing a recent spike in asbestos claims. In Re: The Flintkote Company, No. 04-11300 (D. Del., Bankr.).

Flintkote filed for bankruptcy May 1 in the U.S. Bankruptcy Court for the District of Delaware, claiming that its expenses related to asbestos claims rose to nearly $127 million in 2003, up some $70 million from three years before.

Flintkote, which at one time manufactured building, cement, limestone and stone products, ceased all manufacturing processing and distribution operations in the 1980s …