AS NORMA

ANNOUNCEMENT

08.04.99

 

HEDGING OF CURRENCY RISKS 

 

Export sales account for 96% of turnover of AS Norma group, whereas 70% 

of total exports is in USD. To hedge the incoming currency risks, the 

base currency in transactions proceeding from the long-term 

subcontracting contract between AS Norma and AVTOVAZ, will be DEM at 

fixed rate to USD.

 

 

Raivo Harand

Controller

+372 650 0482