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Article: -GRESVIG: Gresvig writes down assets
- Article from:
- M2 Presswire
- Article date:
- September 21, 1998
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M2 PRESSWIRE-21 September 1998-GRESVIG: Gresvig writes down assets (C)1994-98 M2 COMMUNICATIONS LTD
RDATE:210998
Norway`s Gresvig ASA warned on 17 August in its report for the first half of 1998 that the board and management planned to review the group`s operational position, including balance sheet items, in the light of new experience gained during the present year.
This detailed survey has identified a need to write down goodwill, accounts receivable and inventory by a total of NOK 130.3 million. This adjustment has no effect on liquidity.
As a result, the Gresvig directors have resolved to write down the book value of the group`s assets by ...