latest news releases from the newsroom
Volvo trucks introduces the Volvo vm -- a new medium truck for South America
GOTEBORG, Sweden, Sept. 02, 2003 (PRIMEZONE) -- Volvo Trucks (Nasdaq:VOLVY) (Other OTC:VOLVF) (Other OTC:VOLAFK) today unveils a new medium truck model. The Volvo VM has been developed specifically for the South American market. Investment in the new model totals 35 million U.S. dollars and the aim is to secure ten percent of the market for medium trucks within just one year.
Custos' Board of Directors proposes redemption of every fourth share in Custos with payment consisting of three shares in Bilia and SEK 64 in cash per redeemed share
STOCKHOLM, Sweden, Sept. 2, 2003 (PRIMEZONE) -- Custos' (Other OTC:CUSTF) Board of Directors will call an Extraordinary General Meeting on September 30, 2003, to approve a resolution offering the Company's shareholders the right to redeem every fourth share in Custos with payment consisting of three shares in Bilia and SEK 64 in cash per redeemed share. The total market value of this redemption amounts to SEK 394 m(1), corresponding to 40 per cent of Custos' net asset value. The value per redeemed share amounts to SEK 281.50(1). This should be compared to Custos' net asset value of SEK 179 and its market price of SEK 159 per share on August 28, 2003. Custos intends to distribute compensation in the form of Bilia shares and cash in the middle of December 2003.
Orascom Construction Industries, S.A.E.
Orascom Construction Industries -- Record Revenue and Earnings
CAIRO, Egypt, Sept. 2, 2003 (PRIMEZONE) -- Orascom Construction Industries (Other OTC: ORSDF) (CAIRO:OCIC) (LSE:OCICq) (stock symbols: OCIC.CA / ORCI EY / OCICq.L / ORSD LI) announced consolidated revenue of LE 1,232.4 million with a gross profit of LE 264.1 million (21.4% of revenue), earnings before interest, tax, depreciation and amortization (EBITDA) of LE 286.8 million (23.3% of revenue), and net income of LE 135.2 million (11.0% of revenue) for the second quarter ended 30 June 2003.
Successful mobile data capture cuts corners at Sparrservice
STOCKHOLM, Sweden, Sept. 02, 2003 (PRIMEZONE) -- Swedish-based Sparrservice is one of the pioneers when it comes to improving business processes with mobile data capture technology. The newly developed solution from ReadSoft and Vodafone has made it possible for Sparrservice to cut corners when handling and following up order forms. Mobile data capture is made possible by ReadSoft's software FORMS in connection with the Vodafone-service Notera-Blankett, plus a digital pen equipped with Anoto functionality.
Credit Suisse Group
Winterthur Group Completes Sale of Churchill to The Royal Bank of Scotland Group
ZURICH, Switzerland, Sept. 1, 2003 (PRIMEZONE) -- Winterthur Group announced today that it has completed the sale of its UK non-life insurer Churchill to The Royal Bank of Scotland Group. At completion, Winterthur Group received cash consideration of approx. GBP 1.1 billion. In addition, the transaction involves the repayment of approximately GBP 100 million of debt to Credit Suisse Group companies. The sale will result in a capital gain, to be recorded in Credit Suisse Group's third quarter results, and a significant strengthening of Winterthur Group's solvency position.
Telenor Mobil increases GSM coverage along the Norwegian coast
OSLO, Norway, Sept. 1, 2003 (PRIMEZONE) -- Telenor Mobil (Nasdaq:TELN) (Other OTC:TELNF) intends to significantly increase the GSM coverage along the Norwegian coast. In many places signals will extend four times as far from land as today. The development will be concluded before the decommissioning of the NMT-450 service on December 31, 2004.Telenor Mobil has mapped the use of NMT-450 along the Norwegian coast together with fishery organisations and many customers and coastal communities. With the planned expansion of the GSM coverage, Telenor Mobil will compensate for the loss of coverage resulting from the decommissioning of NMT-450.