latest news releases from the newsroom
Converium Holding AG
Converium committed to raising capital
ZUG, Switzerland, Sept. 27, 2004 (PRIMEZONE) -- After considering various options and following today's announcement from Standard & Poor's indicating its intention to upgrade Converium to a BBB+ financial strength rating, subject to the successful completion of a US$ 420 million capital increase, Converium's Board of Directors reaffirms its proposal to the Extraordinary General Meeting (EGM) to approve an increase in ordinary capital on a with-rights basis in the CHF equivalent of US$ 420 million. The Board believes that such a share issue will maximize shareholder value. The commitment to raising additional capital is based on Converium's strong non-US franchise, the continuing support from cedents and brokers and the Company's well-established direct distribution platform. In order to draw a line under its US legacy issues Converium is also examining the possibility of a sale of its US-based subsidiary.
EMS Technologies, Inc.
EMS Technologies' Steve Chambers Appointed to Georgia Oglethorpe Board of Directors
ATLANTA , Sept. 27, 2004 (PRIMEZONE) -- EMS Technologies, Inc. (Nasdaq:ELMG) announced today that Steve Chambers, director, Corporate Administration & Technical Services, has been appointed to the Board of Directors of Georgia Oglethorpe, a non-profit public-private partnership that provides organizational performance improvement assessment and recognition to Georgia's business, industry, government, education, healthcare, and non-profit organizations.
Emulex and Brocade Expand Strategic Partnership to Further Simplify SAN Deployment
COSTA MESA and SAN JOSE, Calif., Sept. 27, 2004 (PRIMEZONE) -- Emulex Corporation (NYSE:ELX), the market leader in Fibre Channel host bus adapters (HBAs) and embedded storage switches, and Brocade Communications Systems, Inc. (Nasdaq:BRCD), the world's leading provider of infrastructure solutions for Storage Area Networks (SANs), today announced an agreement to expand a multi-year strategic partnership to further simplify the deployment of SANs in enterprise, midrange and the small- to medium-sized business (SMB) market segments.