latest news releases from the newsroom
Metso Invests EUR 15 Million to Strengthen Paper Machine Roll Delivery Capacity
HELSINKI, Finland, Dec. 14, 2006 (PRIME NEWSWIRE) -- Metso Paper is expanding the production capacity of paper machine rolls, and will build a new production line for big, wide castings in Jyvaskyla, Finland. The value of the investment is approximately EUR 15 million. The new production line will enable roll castings up to 12 meters in width. The investment will also shorten the lead times and improve occupational safety at the foundry.
Petroleum Geo-Services ASA
Petroleum Geo-Services ASA Extraordinary General Meeting Completed
OSLO, Norway, Dec. 14, 2006 (PRIME NEWSWIRE) -- Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE:PGS), (NYSE:PGS) held an Extraordinary General Meeting on December 13, 2006 at the Company's premises at Lysaker. The Extraordinary General Meeting resolved to approve all matters as proposed in the Calling Notice for the Extraordinary General Meeting, among these an increase of the share capital of NOK 1 per share, followed by a three for one split of the face value of the PGS share.
Converium Holding AG
Converium Closes the Sale of Its North American Operations
ZUG, Switzerland, Dec. 14, 2006 (PRIME NEWSWIRE) -- Following the receipt of all necessary regulatory approvals Converium today announces the closing of the sale of its North American operations to National Indemnity Company, a Berkshire Hathaway company. The transaction, which was announced on October 17, 2006, will be reflected in Converium's 4Q 2006 financial statements.
Genesis Lease Limited
Genesis Lease Limited Announces Pricing of Initial Public Offering
LIMERICK, Ireland, Dec. 13, 2006 (PRIME NEWSWIRE) -- Genesis Lease Limited (NYSE:GLS) announced today that its initial public offering of 27,860,000 common shares in the form of American Depositary Receipts ("ADRs") has priced at $23.00 per ADR. Genesis also granted the underwriters the right to purchase up to an additional 4,179,000 ADRs to cover over-allotments. The ADRs are expected to begin trading on the New York Stock Exchange on December 14, 2006 under the symbol "GLS."
NewStar Financial, Inc.
NewStar Financial Announces Pricing of Initial Public Offering
BOSTON, Dec. 13, 2006 (PRIME NEWSWIRE) -- NewStar Financial, Inc. (Nasdaq:NEWS), a commercial finance company, announced today that its initial public offering of 12,000,000 shares of its common stock priced at $17.00 per share. The net proceeds of the offering to NewStar before expenses will be approximately $190 million. In addition, NewStar has granted the underwriters an option to purchase an additional 1,800,000 shares at the initial public offering price. NewStar intends to use the net proceeds of the offering for the development and growth of its business and to repay indebtedness.