latest news releases from the newsroom
DSM Again Increases Dyneema Production
HEERLEN, The Netherlands, Feb. 17, 2005 (PRIMEZONE) -- DSM announced today that in view of continued increasing customer demand it will invest over USD 50 million to build a new fiber line in Greenville, North Carolina (U.S.), and boost production in Heerlen (The Netherlands) by 10%. The new Greenville line will increase U.S. fiber production capacity by more than 50%. This is the fifth expansion in Dyneema(r) fiber capacity since 2001 and the third in Greenville since 2003. By adding the extra line in the U.S. DSM Dyneema will become the largest manufacturer of HPPE fiber on U.S. soil. DSM expects to complete the new line in the third quarter of 2006. With this expansion, the total global Dyneema(r) capacity will rise to 2.5 times by 2006, compared to installed capacity in 2000. In the same time span UD capacities increase fivefold.
Straumann Holding AG
Straumann Outpaces the Market and Posts Record Earnings in 2004
BASEL, Switzerland, Feb. 17, 2005 (PRIMEZONE) -- In 2004, Straumann (Other OTC:SAUHF) again outperformed the market with sales climbing 24% in local currencies (l.c.), or 22% in Swiss francs, to CHF 420 million. Thanks to improved operational efficiency and cost control, operating profit grew 31% to CHF 128 million, and net profit climbed 24% to CHF 101 million. Correspondingly, the operating profit margin increased to a record 30%, and the net profit margin to 24%. Investments amounted to CHF 66 million and Straumann created more than 200 new jobs, bringing the total number of employees to more than 1,100 worldwide.
Converium Holding AG
Converium Today Informs on the January 1, 2005 Treaty Renewals
ZUG, Switzerland, Feb. 17, 2005 (PRIMEZONE) -- Following its January renewals, Converium expects total gross premiums written for 2005 to exceed US$ 2 billion, which is in line with expectations. 63% of the Company's renewable non-life business volume (excluding Converium Reinsurance (North America) Inc., which is in orderly run-off) was successfully maintained. In Europe, Asia and Latin America Converium was able to retain 70% of directly written non-life premiums and 55% of brokered non-life premiums up for renewal. The Company succeeded in maintaining 87% of its treaty direct client relationships and 56% of its treaty broker relationships. Converium also managed to establish a significant number of new direct client and broker relationships. Overall, the positive outcome of the January 2005 renewals testifies to the resilience and viability of the Converium franchise.
Port of Houston Authority
PHA's Small Business Development Program Delivers Success
HOUSTON, Feb. 15, 2005 (PRIMEZONE) -- The Port of Houston Authority's Small Business Development Program (SBDP) achieved stellar performance results during 2004 through contract awards and purchase orders issued to hundreds of small business vendors. The SBDP is designed to help PHA contractors make good faith efforts to include small business participation in eligible contracts. The program's ultimate goal is to award at least 35 percent of all eligible contracts to small businesses. To date, in the three years since the inception of the PHA's small business program, a total of $76.2 million has been awarded or committed in contracts to eligible small businesses that have participated in the program.
Murray, Frank & Sailer LLP
Investor Notice: Murray, Frank & Sailer LLP Has Filed a Shareholder Class Action Against Gander Mountain, Inc. -- GMTN
NEW YORK, Feb. 16, 2005 (PRIMEZONE) -- Murray, Frank & Sailer LLP has filed a class action lawsuit on behalf of shareholders who purchased or otherwise acquired the securities of Gander Mountain, Inc. ("Gander Mountain" or the "Company") (NASDAQ:GMTN) between April 20, 2004 and January 13, 2005, inclusive (the "Class Period").
Northrop Grumman Corp.
Northrop Grumman Board Declares Quarterly Dividends
LOS ANGELES, Feb. 16, 2005 (PRIMEZONE) -- The board of directors of Northrop Grumman Corporation (NYSE: NOC) today declared a quarterly dividend of 23 cents per share on Northrop Grumman common stock, payable March 12, 2005, to shareholders of record as of the close of business Feb. 28, 2005. The board also declared a dividend of $1.75 per share on the company's Series B convertible preferred stock, payable April 15, 2005, to shareholders of record as of the close of business April 1, 2005.
Port of Houston Authority International Corporation
Photo Release -- POHAIC, GEL Sign Major Business Agreement
HOUSTON, Feb. 16, 2005 (PRIMEZONE) -- The Port of Houston Authority International Corporation (POHAIC) on Tuesday signed an agreement with Grupo Empresarial Logistik (GEL) during a special ceremony in the 4th floor gallery outside the Board Room at the Port of Houston Authority Executive Building, located at 111 East Loop North in Houston, Texas. Under terms of the agreement, POHAIC will consult GEL in the development of the first inter-modal terminal and strategic foreign trade zone in Mexico - ultimately creating a major logistical corridor between Houston and central Mexico for global manufacturers and retailers. At an initial cost of $115,000, POHAIC will help GEL develop a business plan and identify sources of capital.