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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

SGL’s third-quarter results will include a major write-down

8:23 AM MDT | October 26, 2012 | —Sotirios Frantzanas

SGL Group (Wiesbaden, Germany) says its third-quarter 2012 results will include a noncash write-down of approximately €55 million ($71.5 million) in the company’s aerostructures business unit, Hitco, because of lower-than-expected production levels for Boeing’s 787-8 Dreamliner aircraft. The reduced production has caused SGL’s existing long-term contracts for carbon fibers and composite components for the B787-8 to become obsolete, the company says. SGL’s Ebit remained positive in the third quarter of 2012, however, and is expected to...

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