BRIEF-Teixeira Duarte clarifies on SATU Oeiras' dissolution process

Written By Unknown on Jumat, 10 April 2015 | 16.47

April 10 (Reuters) - Teixeira Duarte SA :

* Said on Thursday that its wholly-owned subsidiary Teixeira Duarte - Engenharia e Construções SA holds 49 pct of SATU Oeiras - Sistema Automático de Transporte Urbano EM SA, which is under dissolution process

* Due to that the company clarifies that, by the end of 2013, Teixeira Duarte - Engenharia e Construções had already included losses of 39.6 million euros ($42 million) in its accounts

* In Q3 2014 reported additional 1.3 million euros and in Q4 2014 another 1.5 million euros in loses, related to the outlined participation

* Once SATU system is closed the subsidiary will cease to have any costs related to it Source text: bit.ly/1Gw2ehB

Further company coverage:

($1 = 0.9394 euros) (Gdynia Newsroom)


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