Gambro appeals tax ruling
Gambro appeals tax ruling Stockholm, Sweden - Gambro AB (Stockholm Stock Exchange: GAMBaST, GAMBbST), a leading international medical technology and healthcare company, today announced that the Swedish tax authority has ruled to reassess, for tax purposes, the taxes of a wholly owned subsidiary of Gambro AB upward with an amount of SEK 4,143 M, which generates a tax payment of SEK 1,281 M. This decision is based on the tax authority not approving the manner in which the tax base of the ABB shares, which were sold in 1997, was calculated. The Gambro group has made provision for taxes for this transaction in accor- dance with conservative accounting principles, which also formed the basis for the information given when the transaction was announced in June 1997. Thus no further tax expenses will be charged against the group's earnings. However, the company does not agree with the tax authority's assessment in this matter. Accordingly, the ruling will be appealed to a higher court. The company's assessment is supported by external tax experts. For further information please contact: Lars Granlöf, Senior Vice President, Corporate Finance, tel. +46-8-613 65 00 Gambro is a global medical technology and healthcare company with leading positions in renal care - services and products - and blood component technology (BCT). Gambro is one of the leading providers of kidney dialysis services in the world. Gambro treats about 42,000 patients in 565 clinics worldwide. Renal care products comprise dialyzers, dialysis machines, blood lines and dialysis concentrates. BCT includes products for the separation and handling of blood components. The group, with revenue of approximately SEK 18 billion (USD 2.2 billion), has approximately 17,000 employees in some 40 countries. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/09/30/19990930BIT00500/bit0001.doc http://www.bit.se/bitonline/1999/09/30/19990930BIT00500/bit0002.pdf