latest news releases from the newsroom
Kai Warn Named President and CEO of Seco Tools AB
FAGERSTA, Sweden, July 05, 2004 (PRIMEZONE) -- At an extra meeting, the Board of Directors of Seco Tools AB has appointed Kai Warn as President of Seco Tools AB and CEO of the Seco Group, succeeding Lars Renstrom who is leaving Seco Tools AB as announced earlier. Kai Warn is currently Responsible for Business Unit Products, in Business Area ABB Manufacturing Automation.
CDMA Development Group
CDMA Development Group Signs MoU with AHCIET
COSTA MESA, Calif., July 5, 2004 (PRIMEZONE) -- The CDMA Development Group (CDG) (www.cdg.org) today announced the signing of a Memorandum of Understanding (MoU) with the Asociacion Hispanoamericana de Centros de Investigacion y Empresas de Telecomunicaciones (AHCIET), (www.ahciet.net). This agreement allows for the exchange of information between the two groups on various aspects of wireless communications, as well as the joint organization of regional conferences and seminars, the coordination of studies and reports of interest, among other activities.
MTG Radio & NRJ Cooperation in Sweden
STOCKHOLM, Sweden, July 05, 2004 (PRIMEZONE) -- Modern Times Group MTG AB, the international media group, today announced that MTG Radio has signed a cooperation agreement with NRJ Group S.A. whereby MTG Radio will assume the day to day management and advertising sales of NRJ's twenty radio stations in Sweden. Ten of NRJ's stations will be rebranded as 'RIX FM' stations and seven will be rebranded as 'Lugna Favoriter' stations. The remaining three NRJ stations, which are broadcast in Stockholm, Gothenburg and Malmo respectively, will retain their NRJ branding. As a result of this agreement, MTG Radio's 'Power Hit' radio station in Stockholm will be closed down.
MTG Sells SDI Media for US$ 60 Million in Cash
STOCKHOLM, Sweden, July 5, 2004 (PRIMEZONE) -- Modern Times Group MTG AB, the international media group, today announced the sale of SDI Media to private equity group Warburg Pincus for US$ 60 million in cash. The transaction gives rise to a net gain of approximately SEK 400 million.