Ansell writes down $80 million following revaluation of South Pacific Tyres

Richmond, Victoria–Ansell Ltd has revised the value of South pacific Tyres, a joint venture it holds with the Goodyear Tire and Rubber Company. The new valuation of A$58 million ($44 million) is A$80 million lower than the previous figure of A$138 million.

Ansell had delayed filing some financial data with the US Securities Exchange Commission due to accounting issues at Goodyear, and the re-valuation was expected. The figures will be reflected in Ansell’s next annual results statement due to be released in August.

A statement from Ansell…

To read more,please login or register below.

This is the first step to more free
content, user offers, subscriptions
and more.
Log in here using the Email Address
and Password you signed up with