latest news releases from the newsroom
Sandvik Initiates Cooperation with Leading Japanese Manufacturer of Products to the Mining and Construction Industries
SANDVIKEN, Sweden, Nov. 22, 2002 (PRIMEZONE) -- Sandvik's (Other OTC:SDVKY) (Stockholm:SAND) Mining and Construction business area has reached an agreement with Furukawa Co. Ltd. in Tokyo, Japan, regarding products exchanges of rock-drilling and demolition tools and certain production cooperation. The intention in a first step is to be able to offer locally manufactured products in Japan and to supplement the existing product program. In addition to this, the two companies will define other areas for continued cooperation.
Autoliv Consolidates Seat Belt Production
AUBURN HILLS, Mich., Nov. 22, 2002 (PRIMEZONE) -- Autoliv (NYSE:ALV) (Stockholm:ALIV), the world's largest supplier of automotive safety systems, today announced that it will minimize costs and maximize efficiency by concentrating its North American seat belt production in just three plants. As a result, Autoliv's plant in Indianapolis, Indiana, will be phased out during the next 12 months.
lastminute.com plc: Fourth Quarter and Preliminary Results
LONDON, Nov. 22, 2002 (PRIMEZONE) -- lastminute.com (Nasdaq:LMIN) (LSE:LMC) today announces fourth quarter results completing a year of transformation. In Quarter 4 the Group has delivered, for the first time, positive operating cashflow, Group EBITDA of 2.8 million pounds and Group pre tax profit (pre exceptional items and goodwill amortisation).
Autoliv Continues Cost Reduction Actions -- Consolidates Production
STOCKHOLM, Sweden, Nov. 22, 2002 (PRIMEZONE) -- Autoliv Inc. (NYSE:ALV) (Stockholm:ALIV), the worldwide leader in automotive safety systems, today announced that it will consolidate its North American manufacturing base and phase out two plants. As a result, the company expects to save $5 million during 2003 and over $20 million annually starting in 2004 when the consolidation program has been fully implemented. The cost for the program amounts to approximately $15 million. Most of the cost will be offset by a combination of unrelated one-time revenues and releases of previously established accruals. The net effect on the fourth quarter earnings will therefore be less than $5 million.
Murray, Frank & Sailer LLP
Rabin & Peckel LLP Commences Class Action Against Tenet Healthcare Corp. and Certain of its Officers and Directors Alleging Violations of Federal Securities Law -- THC
New York, Nov. 21, 2002 (PRIMEZONE) -- A class action Complaint has been filed in the United States District Court for the Central District of California, case number CV 02-8889(DT), on behalf of all persons or entities who purchased or otherwise acquired Tenet Healthcare Corp. ("Tenet" or the "Company") securities (NYSE:THC) between October 3, 2001 and October 31, 2002, both dates inclusive (the "Class Period"). Tenet Healthcare Corp., Jeffrey C. Barbakow, and David L. Dennis, are named as defendants in the Complaint.
Ibbotson Introduces Nature of Downturns and Recoveries Brochure
CHICAGO, Nov. 21, 2002 (PRIMEZONE) -- Ibbotson Associates, a leading provider of investment tools and knowledge, today introduced The Nature of Downturns and Recoveries brochure that helps to convey why it's important to maintain a long-term investment plan and stay invested even through extremely volatile markets. The brochure illustrates: 1) Historical downturns and recoveries, 2) Stock market expansions and contractions, 3) Long-term market performance of various asset classes and 4) The impact of pulling money out of the market at the bottom.