latest news releases from the newsroom
SKF Sold Steel Unit in the United States
GOTEBORG, Sweden, August 15, 2002 (PRIMEZONE) -- SKF has sold its steel ring manufacturing unit Ovako Ajax Inc. in York, South Carolina, USA, to eXpert Forge & Machine of Delaware Inc. Ovako Ajax has 60 employees and yearly external sales of SEK 180 millions. Ovako Steel's sales operations in the USA are not affected by this operation.
Blyth, Inc. Names Bruce G. Crain Senior Vice President and President, Wholesale Home Fragrance Group
GREENWICH, Conn., Aug. 15, 2002 (PRIMEZONE) -- Blyth, Inc. (NYSE:BTH), a leader in the candles, home fragrance and giftware industry, today announced the appointment of Bruce G. Crain as Senior Vice President. Mr. Crain also assumes the newly created position of President, Wholesale Home Fragrance Group, Candle Corporation Worldwide, overseeing Blyth's global premium and mass channel candle and home fragrance businesses, as well as its foodservice business, The Sterno Group.
Carcorp USA Announces Record Six Month Results and Intention to File for Listing on Nasdaq
FORT LAUDERDALE, Fla., Aug. 15, 2002 (PRIMEZONE) -- Today, Carcorp USA (OTCBB:CUSA) ("CUSA") announced its results for the quarter ending June 30,2002 and its record results for the first six months of 2002. The Company recognized gross income of $1,262,680 for the second quarter, which accounts only for the Company's share of revenue realized from its leasing activities. The Company's earnings before interest, taxes, depreciation and amortization was $ 933,934 for the quarter or approximately $.05 per share, and net income was $137,167 for the quarter or $.01 per share. Total gross income for the first six months of this year was $2,680,999, with EBITDA of $ 2,082,499 or $.11 per share. These results represent a 38.7% increase in gross income in comparison to the first 6 months of 2001, when the Company realized $1,932,478, and a 41% increase in EBITDA from the $1,467,613 recognized in the first six months of 2001. The Company's net income for the first six months of 2002 was $305,842, which was a 400% increase over the net income of $76,417 booked in the first six months of 2001.The Company reported a total loan value of $14,685,777 on its books at the end of the quarter. The Company's chief executive officer has certified these financials as true and correct.
One Thousand Volvo Buses to Shanghai
GOTEBORG, Sweden, Aug. 15, 2002 (PRIMEZONE) -- Volvo Bus Corporation's Joint Venture for city buses in China - Shanghai Sunwin Bus Corporation - marked a major breakthrough today with the signing an order for 500 Volvo city buses with one of the leading Shanghai Operators, the Shanghai Ba-shi (Group) Industrial Co.Ltd. The buses will be delivered over the next 12 months. The order is valued at approximately SEK 500 M. The agreement includes an option an additional 500 Volvo buses, with deliveries scheduled during the second half of 2003 and 2004.