Swedish group Hoganas makes 65 mln SEK provision

Newswire

STOCKHOLM, May 24 (Reuters) - Metal powders group Hoganas said it would make a 65 million Swedish crown ($8.9 million) provision for value-added tax in its Brazilian unit, of which 43 million crowns would be charged to operating income. "The majority of this provisioning relates to value-added tax on importing machinery to Brazil during the building up of local operations after their acquisition in 1999," the group said in a statement on Wednesday. "The majority is due to the forwarding ...

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