latest news releases from the newsroom
Stora Enso Oyj
Quality Upgrade at Stora Enso's Fors Mill in Sweden
HELSINKI, Finland, Dec. 16, 2005 (PRIMEZONE) -- Stora Enso (NYSE:SEO) today announced that Stora Enso will upgrade and modernise board machine 2 (BM2) at its Fors Mill in Sweden to improve product quality and cost efficiency, and increase production flexibility. One of the boilers will also be modified to enhance the mill's energy supply by replacing oil with biofuel. The annual folding boxboard production capacity of BM2 will increase slightly, by 13,000 tonnes. Capital expenditure on the project, which is scheduled to start in 2006 and be completed in 2007, will amount to EUR 35 million.
DISPUTE BETWEEN BILIA AND KFAB SETTLED
As has previously been reported, AB Volvo’s subsidiary company KFAB had lodged
guarantee claims against Bilia and Bilia had lodged counter-claims against
KFAB. The dispute was referred to arbitration and the results of this
arbitration process have now been announced.
It was the arbitrator’s task to examine claims from KFAB relating to some 50
items with a total value of approximately SEK100 million. Bilia’s
counter-claims totalled approximately SEK 15 million.
The final result of the arbi
Nobel Biocare Rejects Academics' Critique
GOTEBORG, Sweden, Dec. 16, 2005 (PRIMEZONE) -- Allegations from university professors in Gothenburg that the NobelDirect implant is causing bone loss are today met with firm denials by Nobel Biocare (Other OTC:NBCHF) (Stockholm:NOBE). "We have until today not seen one trace of evidence to support these allegations," stated Heliane Canepa, President and CEO of Nobel Biocare. "However, we are taking these allegations very seriously and consequently made a thorough analysis of our clinical studies. We have also contacted many clients to verify whether they have made any unusual observations. None of the available information supports the critical remarks of the professors."
Port of Houston Authority
PHA Commission Considers Bayport Matters and Inter-Governmental, Service and Partnership Agreements
HOUSTON, Dec. 15, 2005 (PRIMEZONE) -- The Port of Houston Authority (PHA) commission will consider several recommendations involving contract awards, bids and proposals, professional services and general administrative and operational matters during its public meeting at 2 p.m. on Monday, December 19, 2005 at the Lou Lawler International Seafarers Center, 1700 Barbours Cut Blvd., LaPorte, Texas. Chairman Jim Edmonds will preside over the meeting with Vice Chairman Kase Lawal, Commissioner Steve Phelps, Commissioner Jim Fonteno, Commissioner Jimmy Burke, Commissioner Cheryl Thompson-Draper, and Commissioner Janiece Longoria.
Spector Roseman Kodroff & Willis, P.C.
Spector, Roseman & Kodroff, P.C. Announces the Filing of a Class Action Suit Against Stone Energy Corporation -- SGY
PHILADELPHIA, Dec. 15, 2005 (PRIMEZONE) -- The law firm of Spector, Roseman & Kodroff, P.C. announces that a securities class action lawsuit was commenced in the United States District Court for the Western District of Louisiana, on behalf of purchasers of the common stock of Stone Energy Corporation ("Stone Energy" or the "Company") (NYSE:SGY) between June 17, 2005, through October 6, 2005, inclusive (the "Class Period").
Transmeridian Exploration, Inc.
Transmeridian Completes Acquisition of Bramex; Releases Updated Reserve Estimates
HOUSTON, Dec. 15, 2005 (PRIMEZONE) -- Transmeridian Exploration Incorporated (AMEX:TMY) today announced that it has completed the acquisition of Bramex Management, Inc., which owns the 50% of JSC CaspiNeft TME not previously owned by Transmeridian. Through its subsidiaries, Transmeridian now owns 100% of CaspiNeft, which operates the South Alibek Field in Kazakhstan. In connection with the acquisition, Transmeridian paid a total of $168.0 million, of which approximately $44.0 million was to repay the outstanding bank indebtedness of CaspiNeft and the remainder represented the purchase price for the shares of Bramex. Funds for payment of the purchase price and repayment of debt of CaspiNeft were provided from the previously announced private placement of $250 million principal amount of senior secured notes of Transmeridian Exploration Inc., the Company's wholly-owned British Virgin Islands subsidiary.
PIMCO Municipal Advantage Fund
Municipal Advantage Fund Inc. Declares Long-Term Capital Gain Distribution
NEW YORK, Dec. 15, 2005 (PRIMEZONE) -- The Board of Directors of Municipal Advantage Fund Inc. (the "Fund") (NYSE:MAF), a closed-end management investment company which seeks a high level of current income exempt from federal income taxes, announced today that it has declared a long-term capital gain distribution of $0.02339 cents per common share. The distribution will be payable on December 30, 2005 to shareholders of record on December 23, 2005, with an ex-dividend date of December 21, 2005.