Aurubis : Relief on financial impact of fraud but lingering doubts on long-term consequences and on current operating trends
>The financial impact of the fraud is now known … - Aurubis yesterday detailed the financial impact of the fraud which it revealed to the market on 31 August. After a detailed review of its inventories, it estimates that their book value is overvalued to the tune of € 185m which corresponds to the inflated invoices it paid, in line with its initial indications of a potential “low triple digit million euro” loss. At this stage, the group estimates that it could receive...Norddeutsche Steingut is a Germany-based manufacturer and distributor of tiles, concentrating on wall and floor tiles for the residential and commercial sector. As of December 31, 2011, Co. was operational through its two wholly owned subsidiaries Nord Ceram Fliesenproduktions und -vertriebs GmbH & Co. KG, which mass produces standard- and large-size floor tiles under the Pro brand for its own sale and for partners of the parent company; as well as Bremer Wandplatten GmbH, which produces floor and wall tiles under the BW brand. Co.concentrates on business activities in Germany
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