Framfab: Clarification of announced cost saving initiatives
STOCKHOLM, Sweden, Dec. 11, 2003 (PRIMEZONE) -- On November 17, Framfab announced a number of cost saving initiatives. Estimated charges for the initiatives under way are approximately SEK 10 million. As all charges will be taken in the fourth quarter, Framfab will, as previously indicated, post a loss for the fourth quarter, 2003. These will generate cost savings of around SEK 4 million per quarter from January 1, 2004. Further restructuring costs will impact earnings in the forth quarter as a result of changes in the Swedish operation.
SKF Consolidates Seal Operations in the North American Market
GOTEBORG, Sweden, Dec. 11, 2003 (PRIMEZONE) -- SKF USA Inc. has announced a plan for consolidating its Chicago Rawhide seal plants to improve the company's long-term competitive position. The plan includes the closure of the Franklin facility in North Carolina and the outsourcing of the stamping operations from the plant in Guadalajara, Mexico.
Sandvik Restructures Operations Within Valenite
SANDVIKEN, Sweden, Dec. 11, 2003 (PRIMEZONE) -- Sandvik has decided to restructure production within the US-based tool manufacturer Valenite, which was acquired by Sandvik in 2002 and is organized within business area Sandvik Tooling.
Benfield Group Limited Trading update for the year ending 31 December 2003
LONDON, Dec. 11, 2003 (PRIMEZONE) -- Benfield Group Limited, the world's leading independent reinsurance intermediary, today issues an update on trading prior to the end of its financial year.
Brower Piven, A Professional Corporation
BALTIMORE, Dec. 10, 2003 (PRIMEZONE) -- Law Offices Of Charles J. Piven, P.A. announces that a class action lawsuit has been filed in the United States District Court for the Western District of Pennsylvania on behalf of all purchasers of the securities of the Federated Investors, Inc, family of funds (the "Funds") owned and operated by Federated Investors, Inc. (NYSE: FII), and its subsidiaries and affiliates, between November 1, 1998 and October 21, 2003, inclusive, (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934, the Securities Act of 1933 and the Investment Advisers Act of 1940.
American Energy Production Inc.
American Energy Production Inc. Announces Acquisition Of Production Resources Inc.
MINERAL WELLS, Texas, Dec. 10, 2003 (PRIMEZONE) -- American Energy Production Inc. (OTCBB:AMEPE) announced today it has closed the acquisition of Production Resources Inc. AMEP will acquire substantially all of the assets of PRI in a stock and note exchange. The PRI properties include over 1,500 producing acres and 193 existing oil wells fully equipped and capable of producing oil. However only a small portion of the wells are currently in production leaving a tremendous opportunity for future revenue. PRI will become a wholly owned subsidiary of American Energy Production Inc., continuing to operate as an independent company.
Brower Piven, A Professional Corporation
BALTIMORE, Dec. 10, 2003 (PRIMEZONE) -- Law Offices Of Charles J. Piven, P.A. announces that a class action lawsuit has been filed in the United States District Court for the Western District of Pennsylvania on behalf of all purchasers of the securities of the Federated Investors, Inc, family of funds (the "Funds") owned and operated by Federated Investors, Inc. (NYSE: FII), and its subsidiaries and affiliates, between November 1, 1998 and October 21, 2003, inclusive, (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934, the Securities Act of 1933 and the Investment Advisers Act of 1940.
Brower Piven, A Professional Corporation
BALTIMORE, Dec. 10, 2003 (PRIMEZONE) -- Law Offices Of Charles J. Piven, P.A. announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of certain Morgan Stanley and Van Kampen Mutual Funds from October 1, 1999 through December 31, 2002 (the "Class Period").
Lone Star Steak House & Saloon
Lone Star Seeks to Purchase TXCC
WICHITA, Kan., Dec. 10, 2003 (PRIMEZONE) -- Lone Star Steakhouse & Saloon, Inc. ("Lone Star" or the "Company") announced today that it is proposing a plan of reorganization to purchase TX.C.C., Inc., and affiliated entities TXCC-Preston and TXLC-Albuquerque (collectively "TXCC") out of bankruptcy. The plan will be funded by Lone Star and provides that the creditors of TXCC will receive cash or Lone Star common stock, at the option of the creditor. TXCC presently owns and operates twenty (20) Texas Land and Cattle Steak House(r) restaurants located primarily in Texas.
Advanced Lighting Technologies, Inc
SOLON, Ohio, Dec. 10, 2003 (PRIMEZONE) -- Advanced Lighting Technologies, Inc. (Nasdaq:ADLT) ("ADLT") (OTCBB:ADLTQ) today announced that the Company's Plan of Reorganization has been approved and is effective. As a result, Advanced Lighting has emerged from bankruptcy and is no longer operating under Chapter 11. The reorganization was approved by an affirmative vote of all classes of its creditors and shareholders. On Monday, December 8th, Judge Goldgar reviewed the evidence presented by the Company and issued a confirmation order in his Chicago bankruptcy court approving the terms of the Plan.
