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This excerpt taken from the ELN 20-F filed Mar 30, 2006. (D) Asset
impairments
As part of our recovery plan, we identified a range of
businesses and products that we intended to sell in the near
term, and other assets that we intended to cease using. In many
cases, we had received indicative offers for these assets and
wrote-down the assets to their fair value. In other cases, the
impairment arose because of changes to the forecast
profitability of these assets. The impairments of
$32.6 million in 2003 related principally to our European
sales and marketing business (sold to Zeneus in February 2004),
a manufacturing and R&D business based in Switzerland (sold
in February 2004), and to certain R&D technology platforms
that we ceased using.
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