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ShawCor Announces Expected Impairment Charge
2014-12-23 03:32:54| Chemicals - Topix.net
ShawCor Ltd. announced today that it expects to incur an after tax impairment charge of up to approximately $80 million, relating to the goodwill and intangible assets of the Socotherm Gulf of Mexico coating facility in Channelview, Texas and the carrying value of Socotherm's 50% joint venture interest in Venezuela. The charge results from recently conducted annual impairment testing under IFRS of the carrying value of ShawCor's long lived assets.
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Category:Chemicals