latest news releases from the newsroom
Telenor Annual Report Available
OSLO, Norway, April 4, 2003 (PRIMEZONE) -- Telenor (Nasdaq:TELN) (Other OTC:TELNF) has today notified the Oslo Stock Exchange that Telenor's annual report is available in electronic format. The report may be found at http://www.telenor.com/ir/
New Executive Appointments at AvestaPolarit
STOCKHOLM, Sweden, April 4, 2003 (PRIMEZONE) -- Mr. Karri Kaitue, currently Executive Vice President in charge of strategy and business development at AvestaPolarit, has been appointed to succeed Pekka Erkkila as President of AvestaPolarit's Coil Products Division. He will continue as a member of the Outokumpu Executive Committee as before.
Skanska to Sell US Residential Development Unit Spectrum Skanska
STOCKHOLM, Sweden, April 4, 2003 (PRIMEZONE) -- Skanska (Other OTC:SKSBF) plans to sell Spectrum Skanska, its residential development business unit in the U.S. The sale is conditional upon the approval of the Annual General Meeting on May 6, 2003. The buyer is Spectrum Skanska's management.
Norsk Hydro ASA: Sales of Shares to Employees
OSLO, Norway, April 4, 2003 (PRIMEZONE) -- In connection with the sale of shares to employees of Norsk Hydro ASA (NYSE:NHY), under a general arrangement offered to employees in Norway, 68 percent of the employees entitled to the offer have subscribed, and have been allocated 26 shares each at NOK 223.92 per share. The total number of allocated shares is 235,768. The terms are according to Hydro's share purchase plan for employees in Norway. Norsk Hydro holds 8,400,350 own shares after this transaction.
Metsa Tissue Oyj
Metsa Tissue Acquires Majority Shareholding in Polish Tissue Products Converter Krapex
ESPOO, Finland, April 4, 2003 (PRIMEZONE) -- On April 2, 2003, Metsa Tissue Corporation acquired 38 percent of the shares of the Polish tissue products converter Krapex Sp.zoo, having previously received the necessary approval from the Polish competition authority and Poland's Ministry of the Interior. The price of the shares was EUR 0.8 million and was based on the (100%) debt-free value of the whole of Krapex, which is around EUR 3 million. Metsa Tissue already owned 47 per cent of the company, and the share acquisition now brings its interest in Krapex to 85 per cent. Krapex will be consolidated into Metsa Tissue's accounts with effect from April 2003.
Enskilda Securities Wholly Owned by SEB
STOCKHOLM, Sweden, April 4, 2003 (PRIMEZONE) -- SEB (Other OTC:SVKEF) has reached an agreement with Orkla to acquire Orkla's 22.5 percent holding in the investment bank/broker Enskilda Securities. This makes SEB 100 percent owner of Enskilda Securities.
Daniel Johannesson Leaves Skanska's Senior Executive Team
STOCKHOLM, Sweden, April 4, 2003 (PRIMEZONE) -- Daniel Johannesson, who turned 60 in February, left his position on Skanska's (Other OTC:SKSBF) Senior Executive Team at the end of March to retire in accordance with the employment contract agreed in 2001 when he joined Skanska.
Scottish Power PLC
Scottish Power - Analysts' Visit to UK Division
GLASGOW, April 4, 2003 (PRIMEZONE) -- Scottish Power plc (NYSE:SPI) (LSE:SPW) ('ScottishPower') is today holding a site visit for analysts and institutional investors at which an update will be given on developments in ScottishPower's UK Division. No comments will be made on current trading other than to reiterate the pre-close statement released on 27 March 2003 in which ScottishPower confirmed that trading for the year to 31 March 2003 remained in line with expectations.
Faruqi & Faruqi LLP
Faruqi & Faruqi, LLP Announces Filing of Class Action Lawsuit Against SKECHERS USA, Inc. -- SKX
NEW YORK, April 3, 2003 (PRIMEZONE) -- Notice is hereby given that a class action lawsuit was commenced in the United States District Court for the Central District of California on behalf of all purchasers of SKECHERS USA, Inc. ("Skechers" or the "Company") (NYSE:SKX) securities between April 3, 2002 and December 9, 2002, inclusive (the "Class Period"). A copy of the complaint filed in this action can be viewed on the firm's website at www.faruqilaw.com
Seeger Weiss LLP
Seeger Weiss LLP Announces Verdict Against Warner-Lambert Concerning the Diabetes Drug Rezulin
NEW YORK, April 3, 2003 (PRIMEZONE) -- A jury in Manhattan returned a verdict in the amount of $2 million against Warner-Lambert, a wholly owned subsidiary of Pfizer, Inc. (NYSE:PFE), on behalf of plaintiff, Concepcion Morgado. Mrs. Morgado, a Type 2 diabetic, was injured as a result of taking the Warner-Lambert diabetes drug, Rezulin. Rezulin was withdrawn from the market in March of 2000. The jury unanimously found by "clear and convincing" evidence that Warner-Lambert misrepresented or omitted material information about Rezulin to physicians, including Mrs. Morgado's physician, which was a substantial factor in causing Mrs. Morgado's injury.