Share prices for companies linked to the asbestos industry rose following USG Corporations announcement that the company would take a $904 million charge to settle pending asbestos-related claims as well as future asbestos claims to be filed against the company through 2003.
Armstrong gained $1-1/16 to $4-5/8 on the New York Stock Exchange, off a 52-week low of 3/4 but far from a year-high of $36-13/16. Among other asbestos-related shares that rose included W.R. Grace & Co. (NYSE:GRA), which gained 1/4 to $4, and Federal-Mogul Corp. (NYSE:FMO), which added 3/16 to $3-13/16.
Based on a report from OfficeSite
