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People & Business :: Earnings/Finance
SGL's third-quarter results will include a €55 million write-down; Ebit remains positive
8:28 AM MDT | October 25, 2012 | Sotirios Frantzanas
SGL Group says its third-quarter 2012 results will include a noncash write-down of approximately €55 million ($71.5 million) in its aerostructures business unit, Hitco, because of lower-than-expected levels of Boeing's 787-8 Dreamliner aircraft. The reduced production has caused SGL's existing long-term contracts for carbon fibers and composites components for the B787-8 to become obsolete, the company says....
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