Annual Report 2008 English [PDF, 2.69 MB] - Tessenderlo Group

financial report 2008
The intangible assets with indefinite useful life relate to trademarks which are considered to have an
indefinite life unless plans would exist to discontinue the related activity. The intangible assets with
indefinite useful life have been tested for impairment and no impairment charge was deemed necessary.
No intangible assets are pledged as security for liabilities.
13. Investments accounted for using the equity
method
Investments accounted for using the equity method consist of joint ventures and associates.
The joint ventures of the Group are:
Ownership
Country 2008 2007
138
Jupiter Sulphur US 50% 50%
Zéoline Belgium 50% 50%
Siram France 50% 50%
SH Capital (Groupe Fiso) France 50% 50%
Ferso Bio (Groupe Fiso) France 50% 50%
Fiso Developpement (Groupe Fiso) France 50% 50%
Solagra (Groupe Fiso) France 50% 50%
Labrousse (Groupe Fiso) France 50% 25%
Ispac (Groupe Fiso) France 50% 25%
MPR Middle East Bahrain 50% -
The associates of the Group are:
Ownership
Country 2008 2007
Alkemin US 49.50% 49.50%
T-Power Belgium 33.33% -
Wolf Mountain Products US 30% -
Bonnet (Groupe Fiso) France 25% 25%
Michel (Groupe Fiso) France 25% 25%