March 30, 2003 8:35 PM
Congoleum Corp. (CGM) plans to seek bondholder approval to help resolve its asbestos liabilities. Congoleum Corp. (CGM) traces its history in the flooring business to Nairn Linoleum Co., which began operations in 1886. The company produces both sheet and tile floor covering products, with a wide variety of product features, designs and colors. Sheet flooring, in its predominant construction, is produced by applying a vinyl gel to a flexible felt, printing a design on the gel, applying a wearlayer, heating the gel layer sufficiently to cause it to expand into a cushioned foam, and, in some products, adding a high-gloss coating.