latest news releases from the newsroom
Akzo Nobel Agrees to Principal Terms to Acquire Scottish Pharmaceutical Facility
ARNHEM/OSS, The Netherlands, Dec. 9, 2002 (PRIMEZONE) -- Akzo Nobel's (Nasdaq:AKZOY) business Diosynth has reached an agreement on the principal terms to acquire GlaxoSmithKline's (GSK) manufacturing facility in Montrose, Scotland. The planned acquisition will increase Diosynth's production capacity of pharmaceutical ingredients. Financial terms were not disclosed. The deal is expected to be signed and completed early in 2003.
SKF Sells Component Manufacturing to U.S. Based NN, Inc.
GOTEBORG, Sweden, Dec. 9, 2002 (PRIMEZONE) -- SKF (Nasdaq:SKFR) (LSE:SKFB) and NN, Inc. have signed a letter of intent by which SKF intends to sell its component manufacturing operations in Veenendaal, The Netherlands, to NN, Inc. The transaction, which is subject to customary due diligence investigations, is planned to close in the first quarter of 2003.
Universal Stainless & Alloy Products, Inc.
Universal Stainless Reaches Labor Agreement with Bridgeville Employees
BRIDGEVILLE, Pa., Dec. 9, 2002 (PRIMEZONE) -- Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) announced today that it has reached a six-year collective bargaining agreement with the employees at the Company's largest facility located in Bridgeville, PA who are represented by Local 3403 of the United Steelworkers of America (USWA). The employees had been working under a day-to-day extension of a prior agreement, which otherwise would have expired August 31, 2002. The Company's facilities in Dunkirk, NY and Titusville, PA are covered by separate collective bargaining agreements expiring in October 2007 and September 2005, respectively.
Norsk Hydro: Announcements on Capital Markets Day
OSLO, Norway, Dec. 9, 2002 (PRIMEZONE) -- Through major acquisitions and improvements in its operational performance, Norsk Hydro (NYSE:NHY) has strengthened its position in 2002. Despite challenging markets, Norsk Hydro expects to meet its previously announced profitability target for 2002. Hydro also confirms that it is on track to meet the target of an average annual production of 470,000 barrels of oil equivalents per day for 2002, and announces a 2003 target of 510,000 (boe/d). Hydro also confirms that the previously launched improvement program in Aluminum is showing good progress and the overall cost reduction target has been raised by EUR 50 million.
SMS.ac's Pousti Addresses MMS Mobile Conference in Taiwan
SAN DIEGO, Dec. 9, 2002 (PRIMEZONE) -- Multimedia messaging (MMS) is only now surfacing in the marketplace. However, this messaging solution that can bring any combination of audio and visual components to a new generation of wireless devices is expected to generate billions of dollars in annual revenues for the wireless industry in coming years. Representing the wireless communications company that is believed to host the largest aggregation of MMS data anywhere (www.sms.ac), SMS.ac's chairman and chief executive officer, Michael Pousti recently addressed attendees at one of the world's leading conferences dedicated to multimedia messaging, MMS Taiwan 2002.