latest news releases from the newsroom
Medivir and Paradigm Enter Alliance
HUDDINGE, Sweden, Dec. 13, 2002 (PRIMEZONE) -- Medivir and Paradigm Therapeutics Ltd (Cambridge, U.K.) have entered a broad-based, 3-year research collaboration to identify novel protease drug targets and discover protease inhibitor drugs.
Intentia to Appeal Tax Commission's Decision
STOCKHOLM, Sweden, December 13, 2002 (PRIMEZONE) -- Tax authorities have denied Intentia International AB (publ.) (Other OTC:IAINF) a SEK 372 million deduction for losses incurred as a result of liquidation of one of its subsidiaries during fiscal year 2001. Intentia will file an appeal at the county administrative court. Intentia is confident that the claim fordeduction will be upheld by the higher court and that the company will not be required to write off deferred tax assets in the amount of SEK 104 million. The decision affects neither earnings nor cash flow for fiscal year 2002.
UTi Worldwide Announces Pricing of Five Million Shares in Follow-On Public Offering
RANCHO DOMINGUEZ, Calif., Dec. 13, 2002 (PRIMEZONE) -- UTi Worldwide Inc. (Nasdaq:UTIW) today announced the pricing of a follow-on public offering of 5,000,000 of its ordinary shares at $23.00 per share before underwriting discounts and commissions. UTi is newly issuing 4,000,000 ordinary shares, and an existing shareholder of the company is selling 1,000,000 previously issued and outstanding ordinary shares. The net proceeds of the offering to UTi are intended to be used to repay indebtedness and for general corporate purposes.
New Award for Scania in Brazil -- Leading Heavy Truck for Fifth Year in a Row
SODERTALJE, Sweden, Dec. 13, 2002 (PRIMEZONE) -- At present, awards are raining down on Scania (NYSE:SCVa) (NYSE:SVCb) in Brazil. Last month, Scania was voted the truck industry's "Most Admired Company" by the leading business magazine Carta Capital, and the Brazilian haulage association, NTC, has now voted Scania the winner in its category of "Best heavy truck manufacturer" for the fifth year in a row.
Statoil Increases Snoehvit Cost Framework
OSLO, Norway, Dec. 13, 2002 (PRIMEZONE) -- The cost framework for Statoil's (OSE:STL) (NYSE:STO) Snoehvit project in the Barents Sea has been increased by NOK 5.8 billion, from NOK 39.5 billion to a total of NOK 45.3 billion.
Hilton Int'l Nordic Region
Peitsalo Named as General Manager of Hilton Helsinki Strand
STOCKHOLM, Sweden, Dec. 13, 2002 (PRIMEZONE) -- The very first Hilton hotel in Finland is located in a beautiful setting by the sea, a short walking distance from the Helsinki city center. Elegantly furbished rooms, high-class conference facilities and a cozy restaurant serve clients who appreciate quality. Hilton Helsinki Strand's Manager, Tomi Peitsalo, is an esteemed expert in his field.
Peab Prepares to Distribute Managed Property to Shareholders
FOERSLOEV, Sweden, Dec. 13, 2002 (PRIMEZONE) -- Peab's (Stockholm:PEABb) board intends to propose to the Annual General Meeting in May 2003 that all managed property be distributed to the company's shareholders in accordance with "Lex Asea." The property will be distributed in the form of shares in a property company.