Jul 06, 2005. /Lesprom Network/. Buckeye Technologies Inc. announced on Tuesday that the Internal Revenue Service has upheld a $5.5 million tax benefit which the company claimed in 2002, relating to its investment in its discontinued facility at Cork, Ireland. The company expects to reflect this reduction in its corporate tax expense, which is approximately $0.15 per share, in the quarter which ended June 30, 2005. This ruling has no cash implications but will enable the company to reduce its deferred tax liability and increase stockholders' equity by $5.5 million. Buckeye, a leading manufacturer and marketer of specialty fibers and nonwoven materials, is headquartered in Memphis, Tennessee, USA. The company currently operates facilities in the United States, Germany, Canada, and Brazil. Its products are sold worldwide to makers of consumer and industrial goods.