RHI US units file for Chapter 11

Austrian fire-proof materials maker RHI said in mid-February that several more of its subsidiaries in the US had filed for Chapter 11 bankruptcy protection due to mounting absestos-related claims. RHI…

Austrian fire-proof materials maker RHI said in mid-February that several more of its subsidiaries in the US had filed for Chapter 11 bankruptcy protection due to mounting absestos-related claims. RHI said in a statement that US units Global Industrial Technologies (GIT), A.P. Green Industries, Harbison Walker Refractories Holding Company and other companies had filed for Chapter 11. The firm said that the companies“ managements had decided to restructure them under Chapter 11 to counteract the growing number of asbestos-related claims and the “increasingly incalculable” amounts involved. Earlier this year, RHI“s US unit North American Refractories Company (Narco) filed for Chapter 11 due to asbestos claims.