latest news releases from the newsroom
Occidental Petroleum Corp.
Occidental Announces Senior Management Changes
LOS ANGELES, July 19, 2004 (PRIMEZONE) -- Dr. Dale R. Laurance, President of Occidental Petroleum Corporation (NYSE:OXY) and head of its oil and gas operations has announced his plan to retire December 31, 2004 upon completion of 21 years of service. Dr. Laurance's decision was based on health related considerations. Dr. Laurance will relinquish his oil and gas duties effective immediately, but will continue to serve as President and remain on Occidental's Board of Directors through the end of 2004. Dr. Ray R. Irani, Occidental's Chairman and Chief Executive officer, will assume the additional title of President on January 1, 2005.
World's largest nickel producer orders major equipment package from Atlas Copco
STOCKHOLM, Sweden, July 19, 2004 (PRIMEZONE) -- Russia's MMC Norilsk Nickel Group, the world's largest producer of nickel and palladium, is to make another major addition to its huge fleet of Atlas Copco equipment currently at work in Russian mines. The order, worth around MEUR 9 (over MSEK 80), is for nine face drilling rigs, ten loaders and one mine truck.
Skanska sells property in Budapest for SEK 618 M, with a gain of SEK 261 M
STOCKHOLM, Sweden, July 19, 2004 (PRIMEZONE) -- Skanska is selling the office property Science Park in Budapest for SEK 618 M (EUR 67.5 M). The capital gain amounts to SEK 261 M (EUR 28.5 M) and will be reported during the third quarter of 2004. The buyer is the German fund management company SachsenFonds Gmbh, linked to LandesBank Sachsen GiroCentrale.
Wind Tunnel Tests Continue to Affirm Smiths Innovative Drogue Stabilization Technology
FARNBOROUGH, UK, July 19, 2004 (PRIMEZONE) -- Smiths Aerospace is progressing with validation of their innovative hose and drogue stabilisation technology for autonomous aerial refuelling through a series of tests, the latest of which were successfully completed last week. The work is being conducted at the University of Michigan's Low Turbulence Wind Tunnel facility, located in Ann Arbor, Michigan. Smiths has patents pending on the technology for the US and the UK. The company is advancing aerial refuelling technology by developing autonomous refuelling capabilities using the hose and drogue technique for manned and unmanned air vehicles (UAV), including unmanned combat air vehicles (UCAV).