Glaston Corp. recognizes impairment loss of goodwill

Glass Magazine
December 14, 2010
COMMERCIAL, RETAIL, AUTO, FABRICATION

Glaston, Finland, announced in the January – September interim report that it had detected indications of a possible impairment of goodwill in the operating segments within the machines reportable segment. Impairment testing of goodwill has been finalized, and as a result of the tests, Glaston's board of directors has decided in its meeting on Dec. 14 to recognize an impairment loss of goodwill totaling EUR 5.8 million in the pre-processing operating segment within the machines reportable segment.  Impairment testing of other operating segments within the machines reportable segment did not result in any impairment of goodwill, according to a Dec. 14 release.

Read the full release.