latest news releases from the newsroom
Metsa Tissue Oyj
M-real to Exercise its Right to Redeem all Remaining Shares in Metsa Tissue
ESPOO, Finland, March 3, 2003 (PRIMEZONE) -- M-real Oyj ("M-real"), together with its wholly owned subsidiary, M-real Tissue Oy (the "Subsidiary"), holds more than nine tenths (9/10) of the shares and votes in Metsa Tissue Oyj ("Metsa Tissue"). As a consequence of the exceeding of said threshold, M-real has the right, based on Chapter 14, Section 19 of the Finnish Companies Act, to redeem the shares held by other shareholders in Metsa Tissue at fair value. The current holding (3 March at 2 pm) of M-real and the Subsidiary in Metsa Tissue is 29.518.952 shares corresponding to 98.40 per cent of all the shares and votes in Metsa Tissue. M-real has notified Metsa Tissue that it will exercise its redemption right under the Finnish Companies Act to redeem the shares held by the remaining shareholders in Metsa Tissue. M-real's claim based on the redemption right is the following:
GeoResources, Inc. Announces Year-End Reserves and Provides Operation Update
WILLISTON, N.D., March 3, 2003 (PRIMEZONE) -- GeoResources, Inc. (Nasdaq:GEOI) today announced year-end 2002 reserves of 2,557,000 BOE as compared to 2,156,000 BOE at year-end 2001. Production for 2002 was 142,197 BOE as compared to 151,832 BOE in the previous year.
Occidental Petroleum Corp.
Occidental Makes Discovery in Permian Basin
LOS ANGELES, Mar 3, 2003 (PRIMEZONE) -- Occidental Petroleum Corporation (NYSE:OXY) today announced a wildcat discovery in the Wolfcamp formation in its Anton-Irish Clearfolk field in the Texas Panhandle. The discovery well, Snead #1, was drilled to a total depth of 6,780 feet. Current production is approximately 3,000 barrels of oil per day, with potential structure-wide reserves estimated at 12 million barrels of oil. Eighteen development wells have been drilled to date with up to 10 new wells planned for 2003.
United Online, Inc.
Juno Introduces Mac Version of Its Value-Priced Platinum Internet Access
WESTLAKE VILLAGE, Calif., March 3, 2003 (PRIMEZONE) -- United Online, Inc. (Nasdaq:UNTD), a leading provider of value-priced Internet access through its NetZero, Juno and BlueLight Internet consumer brands, today announced the availability of a Mac version of its value-priced Juno Platinum Internet access service. Based on strong demand and feedback from the Mac user community, the company developed a Juno Platinum version for Mac that finally offers the millions of Mac OS X users a reliable and affordable means for getting online via a dial-up connection.
DSP Group Licenses Parthusceva's BlueTooth Technology Targeting Residential Wireless Systems
SANTA CLARA and SAN JOSE, Calif., March 3, 2003 (PRIMEZONE) -- DSP Group, Inc. (Nasdaq:DSPG) a worldwide leader in developing and providing Total Telephony Solutions(TM) and residential wireless products and ParthusCeva, Inc. (Nasdaq:PCVA) (LSE:PCV), the leading licensor of digital signal processors (DSP) and application-specific platform Intellectual Property (IP) to the semiconductor industry, announced today they signed a licensing agreement to deploy ParthusCeva's BlueStream(TM) platform targeted at Bluetooth residential wireless products.Leveraging ParthusCeva's BlueStream platform solution, DSP Group is developing a range of products based on BlueStream's short-range wireless communications including cordless telephony, PBX systems, IP phones, hands free car kits and multi-media handheld devices.
GN Store Nord
GN 2002 Annual Report
COPENHAGEN, Denmark, March 3, 2003 (PRIMEZONE) -- The Executive Management and the Supervisory Board have discussed and adopted the annual report for 2002 of GN Store Nord (Other OTC:GGNDF). The annual report has been prepared in accordance with International Financial Reporting Standards (IFRS, previously IAS), the Danish Financial Statements Act, Danish accounting standards and the Copenhagen Stock Exchanges financial reporting requirements for listed companies.
Spendrups Chooses Integrated System Solution from Intentia
STOCKHOLM, Sweden, March 3, 2003 (PRIMEZONE) -- Intentia Consulting Sweden today announces that brewing company Spendrups has chosen an integrated enterprise application from Intentia (Other OTC:IAINF). Among other things, this means that Spendrups' aging order and logistics systems will be replaced with Movex. "With this agreement, we create a long-term partnership with Intentia," said Eva Sjowall, IT manager at Spendrups.