Geo. V. Hamilton, Inc. Exits Chapter 11 Bankruptcy
MCKEES ROCKS, Pa., April 2, 2018 /PRNewswire/ -- Geo. V. Hamilton, Inc. ("Hamilton"), the region's premier commercial and industrial insulation and distribution contractor, announced today that it has exited from Chapter 11 under a confirmed Plan of Reorganization. Hamilton entered Chapter 11 in October 2015, for the sole purpose of dealing with asbestos claims that were a hangover from operations conducted decades ago. Under the Plan of Reorganization, all of Hamilton's existing asbestos claims as well as future asbestos claims have been channeled to a Trust that will be responsible for resolving such claims. As such, Hamilton will no longer have any responsibility for asbestos claims.
Mike Wallace, the President and Chief Executive Officer of Hamilton, commented that the Company, now that it is free of its asbestos claims, can devote all of its resources to serving its many customers in the region. Mr. Wallace specifically thanked Hamilton's many loyal customers, trade unions, and suppliers who supported the Company during the Chapter 11 process. He also stressed that this favorable result could not have been achieved without the hard work of Hamilton's dedicated 150 employees, many of whom are members of various local unions.
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