latest news releases from the newsroom
Additional Information on Proha's Artemis Group -- Financial Results for Fiscal Year 2001
HELSINKI, Finland, April 12, 2002 (PRIMEZONE) -- The Proha Group has released its consolidated financial results for year 2001 on March 14, 2002. The fiscal year 2001 financial results of Artemis International Solutions Corporation (AISC) released today are consolidated into the released financial results of the Proha Group for 2001. The Group's financial statements are presented in detail in the Annual Report of the Proha Group, available on the Internet at www.proha.com.
Akzo Nobel Acquires AWLGRIP Marine and Aerospace Coatings Businesses
ARNHEM, The Netherlands, April 12, 2002 (PRIMEZONE) -- Akzo Nobel (Nasdaq:AKZOY) has signed a contract with NOF Corporation, Japan, to acquire the worldwide marine and aerospace coatings businesses of its subsidiaries, U.S. Paint and NOF Europe. The businesses, which produce the world-renowned AWLGRIP(r) brand for marine coatings systems, posted total sales of USD 30 million in 2001. Financial details of the deal were not disclosed.
New Issue of Approximately SEK 200 Million New Shares of SAS AB -- The Final Step in the Introduction of a Single Share
STOCKHOLM, Sweden, April 12, 2002 (PRIMEZONE) -- The Board of Directors of SAS AB has, on April 11, 2002, decided to issue 2,683,604 new shares in SAS AB. The number of new shares issued is equal to the number of shares that have been or are subject to compulsory redemption in the formerly listed companies SAS Danmark A/S, SAS Norge ASA, and SAS Sverige AB.
Kronans Droghandel Sold to Orion
STOCKHOLM, Sweden, April 12, 2002 (PRIMEZONE) -- Ratos is selling its 49-per cent holding in Kronans Droghandel (KD) to the Finnish company Orion for approximately SEK 460m. The exit gain is calculated at SEK 115m taking KD's sale of its Norwegian subsidiary, Holtung, into account. Ratos's investment in KD, which was made in conjunction with last year's acquisition of Atle, is therefore estimated to have generated an IRR (average annual return) of more than 10%.
Fiscal Year 2001 Financial Results of Proha's Artemis-Group Released
HELSINKI, Finland, April 12, 2002 (PRIMEZONE) -- Artemis International Solutions Corporation (AISC), sub-group of Proha Plc, has released its financial results for period January 1 - December 31, 2001. AISC reported total revenue of USD 67.6 million for fiscal year 2001, an increase of 42% over the USD 47.6 million recorded for the corresponding period in 2000. The net loss for the year 2001 was USD 59.6 million compared to a net loss of USD 9,2 million for the corresponding period in 2000. The net loss includes a pre-tax impairment charge of USD 43.4 million, based on the value of the goodwill and intangible assets recorded by Artemis in conjunction with its August 24, 2000 acquisition by Proha Plc.