STOCKHOLM, Sweden, July 2, 2004 (PRIMEZONE) -- Alfa Laval made public in December 2003 that the company had decided to initiate renewed negotiations with the Kinetics Group, Inc., former owner of bioKinetics, Inc. This decision was based on the fact that Alfa Laval suspected irregularities in the accounting of certain customer projects. The parties were originally unable to resolve this matter, leading Alfa Laval to file a lawsuit against the Kinetics Group, Inc. and certain individuals in March 2004.
Alfa Laval announces today that the company and the above-referenced parties have entered into a settlement agreement, the terms of which areconfidential.
For more information please contact:
Peter Torstensson Vice President, Communications Tel: + 46 46 36 72 31 Mikael Sjoblom Investor Relations Tel: +46 46 36 74 82
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2004/07/02/20040702BIT20310/wkr0001.pdf