latest news releases from the newsroom
Careside Receives Approval for Debtor-In-Possession Financing Under Chapter 11
CULVER CITY, Calif., Dec. 5, 2002 (PRIMEZONE) -- Careside, Inc. (AMEX:CSA), a provider of point-of-care blood analysis instrumentation, announced today that it has received approval from the U.S. Bankruptcy Court Central District of California to receive up to $2 million in Debtor-In-Possession (DIP) financing from Palm Finance. The Company can obtain the financing from Palm subject to achieving certain reorganization milestones and other conditions. These funds will be used to supplement the Company's cash flow during the Chapter 11 proceedings and resume business operations. Careside had previously announced that it had filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Central District of California. Chapter 11 provides a debtor an opportunity to continue its business operations and to serve its customers while it reorganizes.
Telia Campaign to Promote Corporate Mobile E-mail
STOCKHOLM, Sweden, Dec. 5, 2002 (PRIMEZONE) -- In cooperation with Microsoft and WM-data (Other OTC:WMDTF), Telia (Other OTC:TLAAF) (Stockholm:TLIA) will lend free of charge Pocket PCs with integrated GSM/GPRS data phones to 1,000 company executives and other "ambassadors" at enterprises in different parts of Sweden. These ambassadors will be selected among Telia's customers and co-operation partners. The objective of lending the handheld device is to demonstrate the capabilities of mobile services.
Ahold's U.S. Foodservice to Acquire Allen Foods
ZAANDAM, The Netherlands, Dec. 5, 2002 (PRIMEZONE) -- Ahold's (NYSE:AHO) wholly-owned foodservice subsidiary in the United States, U.S. Foodservice, today announced that a definitive agreement has been signed and the transaction has closed, to acquire Allen Foods, Inc. ("Allen") of St. Louis, Missouri. Allen is a broadline foodservice distributor that services the St. Louis, Kansas City and southern Illinois market. In its most recent fiscal year Allen produced food service net sales of approximately USD 245 million. The acquisition does not include Halben Food Manufacturing Co., Inc., which was retained by the Allen shareholders.