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Kaiser Aluminum Files for Chapter 11 Bankruptcy Protection2002-02-12 19:47:21 by Chapter11
Kaiser Aluminum Corp. and 14 affiliates Tuesday filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code, citing a weak aluminum industry, asbestos-related litigation and high medical and pension costs.
Kaiser a Houston-based holding company that produces and markets aluminum products through its subsidiary Kaiser Aluminum & Chemical Corp., its Chapter 11 petition,...disclosed in its bankruptcy petition it had about 80.8 million shares outstanding as of Dec. 31, 2001. The shares were held or controlled by 368 holders, the top one being Maxxam Group Holdings Inc., with a 34.6% stake. Other top holders were Maxxam Inc., Wellington Management Co., Dimensional Fund Advisers Inc., Capital Group International Inc. and Capital Guardian Trust Co., the petition said.
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