Owens Corning reaches agreement with creditors

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Owens Corning Corporation has taken another step toward recovering from bankruptcy. The Ohio-based manufacturer of glass fiber and building material systems, which filed for bankruptcy protection in October 2000, recently announced that it has reached an agreement with a majority of creditor groups regarding its current plan of reorganization.

According to Owens Corning, an agreement was reached with asbestos creditors and official representatives of the company’s pre-petition bondholders and

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