latest news releases from the newsroom
Northrop Grumman Corp.
Northrop Grumman Wins U.S. Army CECOM Rapid Response Contract
HERNDON, Va., March 26, 2003 (PRIMEZONE) -- Northrop Grumman Corporation (NYSE:NOC) and seven additional contractors have been awarded an eight-year indefinite delivery/indefinite quantity (ID/IQ) contract by the U.S. Army Communications Electronics Command (CECOM) for the CECOM Rapid Response (CR2) program. The overall ceiling of this ID/IQ contract is more than $2.7 billion.
Arete Industries, Inc.
Arete Industries, Inc. Issues an Update Toward Completion of Purchase of 5% of Tri-State Transfer Industries, LLC and Announces an Upgrade to its In-House Corporate Communications Activities
NIWOT, Colo., March 26, 2003 (PRIMEZONE) -- Arete Industries, Inc. (OTCBB:ARET), a publicly traded business development company, released an update on progress toward completing its deal announced earlier this month, to acquire 5% of Tri-State Transfer Industries, LLC ("Tri-State"). Tri-State has recently signed a preliminary agreement to purchase a 35 acre site in Grosvenor-Dale, in Thompson Township, Connecticut for its first Municipal Solid Waste ("MSW") and Construction & Demolition Waste ("C&D") transfer station and its processing and recycling facility. Additionally, Tri-State has received a written commitment from a municipal waste brokerage firm to fulfill its minimum start-up tonnage of MSW and C&D from a number of cities and municipalities in Connecticut, Massachusetts and Rhode Island. Other important events include the signing of an underwriting agreement from a bond underwriter to represent Tri-State in the offering of taxable bonds to purchase the land, equip and build the new facility, and to fund start-up costs. The Company is anticipating confirmation of other material pieces of the business development plan falling into place in the very near future, including zoning approvals and permits for the facility, but obtaining the supply agreement described above satisfies a major requirement for obtaining the bond funding. Formal documents are being prepared for the closing of the transaction between Tri-State and Arete, contingent upon these and other material preconditions.
Changes to Biora's Board of Directors
STOCKHOLM, Sweden, March 26, 2003 (PRIMEZONE) -- The Biora Board was advised today that at the company's Annual General Meeting on April 29, 2003, Jan Kvarnstrom and Lennart Jacobsson will decline to seek re-election as Directors.
Ahold to Undertake Further Review at Argentine Subsidiary
ZAANDAM, Netherlands, March 26, 2003 (PRIMEZONE) -- In light of the ongoing investigations at Ahold (NYSE:AHO), and in keeping with the company's intent to cooperate with all regulatory authorities, Ahold has decided to undertake a further review of certain transactions and related matters at its Argentine subsidiary Disco. The decision is also intended to ensure that Disco's books and records are in compliance with all applicable regulations.
Metro International: Stockholm Distribution Contract Extended to 2010
BERTRANGE, Luxembourg, March 26, 2003 (PRIMEZONE) -- Metro International S.A. ("Metro") (Nasdaq:MTROa) (Nasdaq:MTROb), the international newspaper group, today announced that it has prolonged its distribution contract with SL, the Stockholm Public Transport Authority, until 2010. The agreement gives Metro the right to distribute its newspaper in the Stockholm commuter transport system. Stockholm's public transport system is used by approximately 600,000 daily commuters.