latest news releases from the newsroom
Volvo trucks introduces the Volvo vm -- a new medium truck for South America
GOTEBORG, Sweden, Sept. 02, 2003 (PRIMEZONE) -- Volvo Trucks (Nasdaq:VOLVY) (Other OTC:VOLVF) (Other OTC:VOLAFK) today unveils a new medium truck model. The Volvo VM has been developed specifically for the South American market. Investment in the new model totals 35 million U.S. dollars and the aim is to secure ten percent of the market for medium trucks within just one year.
Custos' Board of Directors proposes redemption of every fourth share in Custos with payment consisting of three shares in Bilia and SEK 64 in cash per redeemed share
STOCKHOLM, Sweden, Sept. 2, 2003 (PRIMEZONE) -- Custos' (Other OTC:CUSTF) Board of Directors will call an Extraordinary General Meeting on September 30, 2003, to approve a resolution offering the Company's shareholders the right to redeem every fourth share in Custos with payment consisting of three shares in Bilia and SEK 64 in cash per redeemed share. The total market value of this redemption amounts to SEK 394 m(1), corresponding to 40 per cent of Custos' net asset value. The value per redeemed share amounts to SEK 281.50(1). This should be compared to Custos' net asset value of SEK 179 and its market price of SEK 159 per share on August 28, 2003. Custos intends to distribute compensation in the form of Bilia shares and cash in the middle of December 2003.
Orascom Construction Industries, S.A.E.
Orascom Construction Industries -- Record Revenue and Earnings
CAIRO, Egypt, Sept. 2, 2003 (PRIMEZONE) -- Orascom Construction Industries (Other OTC: ORSDF) (CAIRO:OCIC) (LSE:OCICq) (stock symbols: OCIC.CA / ORCI EY / OCICq.L / ORSD LI) announced consolidated revenue of LE 1,232.4 million with a gross profit of LE 264.1 million (21.4% of revenue), earnings before interest, tax, depreciation and amortization (EBITDA) of LE 286.8 million (23.3% of revenue), and net income of LE 135.2 million (11.0% of revenue) for the second quarter ended 30 June 2003.