latest news releases from the newsroom
AAMPRO Group, Inc.
AAMPRO GROUP, Inc. Acquires Payroll Services Company and Launches New Payroll Processing Service 'AAMPROPAY'
WHITEHOUSE, N.J., Jan. 15, 2003 (PRIMEZONE) -- AAMPRO GROUP, Inc. (OTCBB:TDSY) announced today that it acquired AMSTAFF, Inc., a computerized payroll and administrative services company. The transaction was structured as an asset purchase with the consideration being paid in stock options on an earn-out basis. The acquisition closed January 2, 2003. Concurrent with the acquisition, AAMPRO formed a new subsidiary entitled AAMPROPAY, LLC. to market the payroll services. AAMPRO CEO, Stephen Farkas commented: "The payroll services sector is an important component of our growth strategy and this will help leverage our existing marketing campaign to cover a broader target market." Terri Munkirs, CEO of AMSTAFF, stated: "We are very excited and look forward to contributing to such a vibrant organization."
IT Provider Raises Euro 130 Million for Nordic Venture Capital
STOCKHOLM, Sweden, Jan. 15, 2003 (PRIMEZONE) -- IT Provider, a leading venture capital firm in the Nordic market, today announced the successful first closing of IT Provider Fund IV, with signed commitments of approximately SEK 1.2 billion (EUR130 million). IT Provider has secured commitments from prominent existing investors including the Sixth Swedish National Pension Fund and interests associated with the Rausing family as well as new investors including ATP Private Equity, the European Investment Fund and the Third Swedish National Pension Fund.
Xdin Wins Major Order from Producer of Heavy-Duty Trucks in North America
GOTEBORG, Sweden, Jan. 15, 2003 (PRIMEZONE) -- Xdin, Inc. has received an order from one of North America's largest producers of heavy-duty trucks. This is Xdins second international order within one year and a real breakthrough for Xdins U.S.-operations. The project will initially be carried out concurrently in both Sweden and in the USA. Combining forces will make a faster start-up possible and this is a project with a very tight time schedule.
Kaupthing Bank's Stake in JP Nordiska is 92.7%
STOCKHOLM, Sweden, Jan. 15, 2003 (PRIMEZONE) -- Kaupthing Bank has increased its stake in JP Nordiska to more than 90%. Kaupthing Bank will therefore begin mandatory redemption of the outstanding shares of JP Nordiska and consequently seek for the delisting of JP Nordiska from Stockholmsborsen.
Norske Skog: Unusual Items in the Q4 2002 Accounts
OXENOEEN, Norway, Jan. 15, 2003 (PRIMEZONE) -- In connection with Norske Skog's cost-cutting program "Improvement 2003," the company will book approximately NOK 600 million in the Q4 2002 accounts for estimated restructuring costs. This amount will be included as operating costs in the income statement, and will have an after-tax effect of approximately NOK 400 million.