Outokumpu to acquire full ownership in Neumayer
(30.12.03)Outokumpu has signed an agreement whereby it will acquire the remaining 50% ownership in Neumayer GmbH, which is a subsidiary of Outokumpu Copper, fabricating various alloy wire products in Leobersdorf, Austria. In 2002, Neumayer generated net sales of EUR 11 million and it employs 90 people. The transaction is aimed to be completed at the end of February 2004, once the approvals from the relevant competition authorities have been obtained. Purchase value is estimated at 3.3 Million EUR.
Separately, Outokumpu announced that Boliden and Outokumpu today have completed the transaction whereby Boliden acquires Outokumpu's mining and smelting operations within zinc and copper and sells its fabrication and technology sales operations to Outokumpu. New Boliden becomes one of the world-leading mining and smelting companies within zinc and copper. New Boliden starts operations on January 1, 2004.


TeliaSonera and Tele2 buys spectrum from Orange
(2003-12-29) The company Svenska UMTS-nät AB, jointly owned by TeliaSonera and Tele2, has agreed with Orange Sverige AB to purchase the fourth 3G license in Sweden.
"We believe the mobile Internet - email and web surfing from mobile phones - is going to go over big with our customers. And when it does, we will need the extra capacity that this license gives us", says Marie Ehrling, CEO of TeliaSonera Sweden.
TeliaSonera and Tele2 already share one license through the jointly-owned Svenska UMTS-nät AB. The new license will not change the modalities of their cooperation. The cost of the extra build-out will be less than the efficiency gains that are realized since the investment in extra frequencies can replace a more concentrated infrastructure.
The final closing of the deal is contingent on the approval of the transaction by the authorities and the approval of the Boards of all involved companies.


Investments in and of Neurosearch
(29.12.03) In a string of operations Danish Biopharmaceutical company Neurosearch has received funds through a development alliance with GlaxoSMithKline and then extended their investments in Sophion Biosciences AS and Nsgene AS.
NeuroSearch is a Biopharmaceutical company focused on medical needs within diseases in the Central Nervous System and other diseases treated primarily through ion channel modulation. The deals include :
- NeuroSearch and GlaxoSmithKline (GSK) announced a five-year research and development alliance. The alliance comprises a number of research programmes within ion channels and the treatment of diseases of the central nervous system (CNS) including depression, anxiety, and schizophrenia. The option agreement gives GSK access to new drug candidates from NeuroSearch's research and development within the defined area. This includes the Phase II triple monoamine re-uptake inhibitor NS2359, the Endovion programme. Under the terms of the five-year agreement NeuroSearch will receive a total of EUR 82 million (DKK 610 million) in guaranteed payments. On signing the agreement, NeuroSearch will receive EUR 46.8 million (DKK 348 million), comprising EUR 29.1 million (DKK 217 million) of up-front and research payments, and EUR 17.7 million (DKK 132 million) for 616,000 new NeuroSearch shares to be issued to GSK.
- NeuroSearch and a number of existing shareholders have completed a capital increase of DKK 25 million in Sophion Bioscience A/S with the aim of securing the necessary capital for the commercialization of the first phase of the ion channel screening system Qpatch 16. The financing was effectuated as a convertible loan. NeuroSearch also has participated in the capital increase with DKK 6.8 million.
- NeuroSearch A/S and several other existing shareholders of NsGene A/S have invested a total of DKK 18 million in NsGene. NeuroSearch's contribution amounts to DKK 5.8 million. NsGene focuses on research and development within cell and gene based products ("biopharmaceutical drugs") for the treatment of neurological disorders like Alzheimer's and Parkinson's disease.


Liquor and shopping prices boost Öresund ferry traffic.
(23.12.03) Low liquor prices in Denmark and low priced shopping has boosted the trans-border shopping in the Öresund region, increasing passenger traffic over the Helsingborg - Helsingör waterway by a quarter of a million passengers since October this year according to an report in Danish business daily Börsen Online.
The news source quotes Henrik Rørbæk, route manager for the Helsingborg - Helsingör ferry line : «The common belief is that the high traffic growth is due only to Swedish passengers travelling to Helsingör to buy beer, wine and liquor. This is not the whole truth. Danes are to a high degree travelling to southern Sweden to purchase groceries in for example Helsingborg, which is one of the cheapest shopping centers in northern Europe ».


North Sea contract of 56 million EUR to Subsea 7
Subsea 7, Norwegian underwater contractor, has been awarded a North Sea contract of USD 70 million. Few details have been released other than that the contract will take place in three stages and will be completed in August 2005. Detailed engineering will be undertaken by Subsea 7’s engineering department. The first and second phases of the offshore installation will take place in 2004.
Subsea 7 expects to release further details in January 2004.


TietoEnator acquires energy business operation from OMHEX
(21.12.03)TietoEnator has acquired the energy business operation of Retail System, an OMHEX business unit. The acquisition gives TietoEnator access to a Customer Information System (CIS) adapted for the energy sector, POMAX Customer. It also means that about 45 employees will be transferred to TietoEnator in Norway and Sweden.
The agreement becomes effective from February 1, 2004.Retail System operates in Sweden, Denmark and Norway. The head office is situated in Halden, Norway. The energy sector is one of TietoEnator's prioritized industries and the acquisition will strengthen the Group's market position as an IT solutions provider to the Nordic electricity industry. Today, TietoEnator is a leading provider of IT services and solutions for the Oil & Gas production industry.
"POMAX Customer Retail System is a perfect fit for TietoEnator's electricity IT solutions and will now be integrated with our product portfolio and further developed for the global market," says Per Bakseter, Senior Vice President of the Energy business
unit at TietoEnator


New study shows significant reduction in blood transfusion needed in trauma patients
(19.12.03) Novo Nordisk today announced the first results from its phase 2 studies of the safety and efficacy of NovoSeven® in trauma patients. The study shows that patients receiving treatment with NovoSeven® needed significantly less red blood cell transfusion than patients receiving conventional treatment.
Furthermore, results indicate that patients treated with NovoSeven® had fewer complications and spent less time in intensive care units than patients receiving conventional treatment and, further, that overall mortality was lower in the group treated with NovoSeven®. However, as the study was not designed to show differences in these parameters, these findings need to be investigated further in a subsequent study.
Lars Rebien Sørensen, president and chief executive officer of Novo Nordisk, said: “The proof of concept for the use of NovoSeven® is a major breakthrough in the treatment of patients with trauma and one of the most important events in Novo Nordisk’s R&D pipeline in recent years.”


Rail & Road investments of 2.7 Billion EUR brought forward
(19.12.03) The Swedish government today presented an effort to kick-start some transport related infrastructure investments which are part of the overall infrastructure plan for the period 2005 -2015. The prioritized projects include an extension of rail capacity through central Stockholm as well as an upgrade of the road network in western Sweden, specifically the E6 north of Gothenburg - the main roadlink from Oslo to the continent and which has been highly accident-prone. The overall project includes investments of about 364 billion SEK (abt 40 Billion EUR) and the kick start part, at 25 billion SEK (2,75 billion EUR) is financed through "alternative financing" - loans.


Scandinavian Airlines outsources IT
(18.12.03) The SAS Group today signed an agreement covering the sale of the Scandinavian IT Group (SIG) to U.S.-based Computer Sciences Corporation (CSC). SAS is selling all the shares in the company and concurrently is signing a five-year outsourcing agreement for the purchase of IT services from CSC and the Scandinavian IT Group. This agreement will include options for SAS to extend the contract for up to four additional years.
The total value of the transaction is slightly more than MSEK 2000 and comprises the purchase price and future reductions in the SAS Group’s IT costs over the base five-year contract period.
As a result of this transaction, the positive effect on the SAS Group cash liquidity, including the first contract year, is estimated to MSEK 800, with a corresponding positive effect on the SAS Group’s net debt.
Under the terms of the outsourcing contract, CSC will provide IT consulting, systems integration, application development and maintenance, and IT infrastructure services for mission-critical SAS business needs, including booking and ticket reservation systems, ticket-less travel technologies, self-service check-in, flight maintenance and cargo control systems.


Framatome/Siemens wins Finnish nuclear power plant contract.
(18.12.2003) Olkiluoto 3 nuclear power plant investment decision made.
Teollisuuden Voima Oy (TVO) has today resolved to make an investment decision on the new nuclear power plant unit Olkiluoto 3 and signed with the Framatome ANP – Siemens consortium a contract concerning the construction of a new nuclear power plant unit with a pressurized water reactor of about 1,600 MW. More than 60 Finnish companies will participate in the investment and have a share of the electricity to be produced by the unit starting commercial operation in 2009.


Nationwide emergency radio communications network to be set up
(18.12.03) The Swedish government today gave the go ahead for a nationwide emergency communications radio network. The network is intended to improve co-ordination between emergency services such as police, fire brigade, Coast Guard, Customs and ambulance services which has been found to be faltering in larger incidents.
The network will be rolled out over the country from 2004 to 2009, from south to north. Up to 2.3 BSEK in funds have been made available.


Favorable winds for Danish DONG and Norwegian Statkraft in the UK
(18.12.03) Together with Norwegian Statkraft, the Danish energy company DONG has been awarded a wind turbine licence off the island of Walney in the Irish Sea between England and Ireland in the Round 2 UK Offshore Windfarm Tender. DONG is the operator. The licence covers an area of about 75 square kilometres, about 15 kilometres offshore. With an expected capacity of about 450 MW, this will thus be one of the world's largest offshore windfarms.
The awarded licence initially covers the site investigation phase. An actual application for construction of the windfarm must subsequently be lodged in the year 2006 at the latest.
This is the second time that DONG and Statkraft participate in the development of wind power in the UK. Earlier this year, DONG and Statkraft, jointly with the UK energy company Centrica, acquired Barrow Offshore Windfarm, which is situated about 10 kilometres from the Walney licence.


Czechs say Yes to Jas Gripen
(18.12.03)The government of the Czech Republic at a cabinet meeting today has confirmed the recommendation of its evaluation committee to select Gripen, the Swedish fighter jet, as the interim air defence solution to meet the Czech Republic’s national and NATO needs.
Gripen will replace the Russian MIG 21 aircraft currently operated by the Czech Air Force.
FMV (Swedish Defence Materiel Administration) will now, on behalf of the Swedish government, embark on a period of negotiation with our Czech partners in order to achieve successful implementation of this contract.
Sweden has offered the Czech Republic to lease 14 new Gripen aircraft of the latest version (twelve single seater and two dual seater) for a period of up to ten years. The offer also includes training of Czech pilots and maintenance personnel as well as a logistic package. The Czech Republic is the second NATO nation to select Gripen for its air defence. Hungary became the first with its decision in 2001. Subject to successful contract negotiations, Czech Air Force Gripen fighters will be delivered between April and August in 2005.


deCode finds ways to predict patients responsivenss to drugs.
(17.12.03) Scientists at deCODE's pharmacogenomics and clinical trials subsidiary Encode have developed gene expression assays that can predict responsiveness to common treatments for asthma and hypertension. In the Icelandic cohorts studied, the research assays predicted, with an average accuracy of 85%, which patients would or would not respond to leading classes of drugs used to treat these diseases. The companies are working together to validate these findings and to turn these assays into novel diagnostic tests. Such tests could provide physicians and their patients with information that can be used to select individualized treatment options.


Norges Bank reduces interest rates
(17.12.03) Norges Bank’s Executive Board decided today to reduce the interest rate on banks’ deposits with Norges Bank, the sight deposit rate, by 0.25 percentage point to 2.25 per cent with effect from 18 December 2003.
The interest rate on banks’ overnight loans is being reduced correspondingly. According to Norges Bank’s assessment, with a sight deposit rate of 2.25 per cent at present, the probability that inflation two years ahead will be lower than 2½ per cent is greater than the probability that it will be higher.


Pills against allergy
(17.12.03)ALK-Abelló has established clinical proof of concept for the tablet based allergy vaccine against grass pollen allergy. This is the main preliminary conclusion drawn from the largest allergy vaccination study ever performed – a phase IIb-III clinical trial of the grass allergy tablet.
The phase IIb-III study was a multi-centre, randomized, double-blind, placebo-controlled trial designed to evaluate the efficacy and safety of the tablet.The trial comprised 855 patients suffering from grass pollen induced allergic rhinitis (hay fever). It was carried out at 57 allergy clinics in Austria, Belgium, Canada, Denmark, Germany, Norway, Sweden and the United Kingdom.
The study established clinical proof of concept demonstrating dose dependent results. Specifically in the high-dose treated patients beginning treatment eight weeks prior to the season, the grass allergy tablet achieved statistically significant reductions in both allergy symptoms and in the use of traditional symptom relieving allergy medication in the range of 20-30%.


Stora Enso awards 100 MEUR contract to Kvaerner
(15.12.03) Kvaerner Power has signed a contract for the supply of equipment, machinery and services to Stora Enso's Skoghall Mill in Sweden, worth a combined total of more than EUR 100 million.
Stora Enso is modernizing its Skoghall board mill located in Central Sweden to ensure the cost effective production and to achieve world class environmental and energy efficiency performance.
Kvaerner Power will supply a new RECOX(TM) recovery boiler rated at 2,200 tons dry solids/day.
The mill's present evaporation plant will be replaced with a new evaporation plant from Kvaerner Power. It is designed for evaporation of black liquor and liquor from the CTMP process and the total evaporation capacity will be 750 tons of water/hour.
The recovery boiler and evaporation plant will be completed by autumn 2005 and the power boiler conversion will be commissioned in the summer of 2006.
The supply involves the joint resources of Kvaerner Power's units in Sweden and Finland.


Wind Power merger when Vesta and NEG Micon unite
(12.12.03) Danish wind technology leader Vestas AS is set to merge with danish NEG Micon, leading supplier of wind turbines.
The merge will create one of the leading wind power corporations in the world, with a pro-forma 2002 turnover of 2.2 bilion Euro and 8.500 employees. Management of the two companies say that synergies will be found in the geographic complementarity of the companies as well creating a better resource base when adresssing major on- or off-shore wind power projects. The companies expect the merge to generate cost synergies of about 67 MEUR according to a release to the Copenhagen Stock exchange.
The deal will be based on a stock swap which will give NEG Micons stockholders 20% and Vesta stockholders 80% of the new entity. The companies are projecting a 2004 turnover of about 2.7 -2,8 Billion Euro. The merged company which has an installed base of over 13.000 MW will be called Vesta Wind Systems As and have its head office in Randers Denmark. NEG Micon surged some 37% on the Copenhagen Stock exchange in Friday morning trading.


Stora Enso invests over 600 MEUR
Stora Enso's Board of Directors has approved the plans for building a new paper machine at Kvarnsveden, Sweden, initially announced on 25 October 2002 and for major improvement of energy efficiency at Skoghall Board Mill, Sweden
Stora Enso will build a new paper machine at Kvarnsveden Mill in Sweden to improve its competitiveness in uncoated magazine paper production. The total investment is estimated at approximately EUR 450 million, and the aim is that the investment cost per tonne should be below EUR 1 000. The annual production capacity of the machine will be about 420 000 tonnes of high-quality super-calendered (SC) papers. The machine is expected to start up at the end of 200.
Also, Skoghall Mill's Energy 2005 investment project aims to secure the future base for board production and strengthen the mill's energy supply. This will enable cost-effective production with low emissions in both the short and long term. The project includes a new recovery boiler area, evaporation plant and conversion of an oil boiler into a biofuel boiler. The new evaporation plant and recovery boiler will start up in autumn 2005 and the biofuel boiler in summer 2006.


deCODE Isolates Two Major New Obesity Genes
(11.12.03) deCODE genetics today announced that it has isolated two new genes as part of its alliance with Merck & Co, Inc. to develop drugs for the treatment of obesity.
deCODE scientists have discovered common versions of two genes that significantly predispose individuals to obesity. The companies are now analyzing the genes and the biological pathways they delineate to select optimal targets for the development of new drugs.
The genes were identified through population- and genome-wide linkage scans and association analyses utilizing genetic and clinical data from the 17,000 participants in deCODE's obesity program in Iceland. The versions of the gene linked to obesity, were found in more than one in four individuals with high BMI(Body Mass Index), and were three times more common in these individuals than in control groups. This gene, which the companies believe is involved in regulating how the body stores and uses energy, implicates a novel pathway in human obesity.
The versions of the second gene, which was identified through analysis of 125 families that include multiple women with a high percentage of body fat (PBF), were carried by 22% of those with high PBF. These haplotypes increase the risk of obesity by a factor of five. This gene appears to contribute to obesity through the regulation of appetite.
deCODE is using population genetics to create a new paradigm for healthcare. With its uniquely comprehensive population data, deCODE is turning research on the genetic causes of common diseases into a growing pipeline of products and services in pharmaceuticals, gene and drug discovery, DNA-based diagnostics, pharmacogenomics, bioinformatics, and clinical trials.


Finland to switch over to digital television in 2007
(10.12.03) A parliamentary working group proposes that all television broadcasting in Finland be digital as of 31 August 2007.
The starting point of the proposal is that all Finns will have an opportunity to access digital television services at reasonable cost and without difficulty in good time before the switching. The working group expressed a wish that the construction of the digital distribution network be accelerated so that the entire country would be covered by the autumn of 2005.
In 1999, Government proposed the year 2006 for the switching-over time. The working group is of the opinion that a little longer period is necessary.


Fisheries profits down in '03, up in 04' according to Iceland MoF.
(10.12.03) Following two profitable years, 2001 and 2002, it appears that prospects for the Fisheries industry will dim this year, mainly because of the stronger exchange rate, lower export prices for fish products, higher oil prices and reduced catches, Icelands Minsitry of Finance projects.
Prospects are expected to improve next year due to increased fishing quotas and declining oil prices in the world market. EBITDA-profits are expected to run close to 17 per cent of revenue in 2003 and net profits before tax close to 2 per cent of revenue. Although the industry as a whole is expected to turn a profit, individual sub-sectors, such as shrimp and scallop fisheries, are not doing as well.
For 2004 as a whole, net profits before tax are projected at 5 per cent of revenue, half of the 2002-figure.


Telenor becomes sole owner of SONOFON in Denmark
(10.12.03) Telenor has today signed a definitive agreement with BellSouth to acquire the remaining 46.5% equity interest in SONOFON. Telenor will pay the equivalent of DKK 3,050 million in cash, which is equivalent to an equity value of DKK 6,559 million.
"The mobile markets in Scandinavia are increasingly becoming one market, and SONOFON is an important strategic asset for Telenor in this region » said Chief Executive Officer of Telenor Mobile, Arve Johansen. « The benefits resulting from economies of scale within our home market will be improved with SONOFON as a fully owned subsidiary of Telenor. A strong position in the home market is an important prerequisite for our international operations. »
SONOFON is the second largest mobile operator in Denmark with a market share of 24% in terms of subscribers and 27% in terms of revenue. SONOFON holds a particularly strong position in the business segment, and has the highest usage per subscriber.


Festivities in Stockholm and Oslo as Nobel Prizes are awarded.
December 10th, the Anniversary of Alfred Nobels death, is since 1901 the day when the Nobel Prizes are awarded to the Nobel laureates.
As stipulated in the will of the Swedish-born inventor and international industrialist Alfred Nobel, which was opened after his death in 1896, the Nobel Prizes in Physics, Chemistry, Physiology or Medicine and Literature are awarded in Stockholm, Sweden, while the Nobel Peace Prize is awarded in Oslo, Norway. Since 1969 an additional prize is awarded at the ceremony in Stockholm, the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. The festivities include the awards ceremony (13:00 in Oslo, 16:30 in Stockholm) followed by a gala dinner for thousands of guests. More info and a webcast of the ceremony is available here.


Finlands GDP grew in the third quarter.
(09.12.03) In the third quarter of 2003, the volume of Finland's gross domestic product grew by 0.8 per cent compared to the second quarter of 2003. Compared with the third quarter of 2002, GDP was up by 1.6 per cent. In the January to September period GDP was by 1.5 per cent overall year-on-year. This is indicated by the preliminary National Accounts data compiled by Statistics Finland.
Growth of the national economy has been driven by the consumption of households. In the third quarter of 2003 households' final consumption expenditure went up by 4 per cent.


Securities markets join hands across the Baltic
(09.12.03) In a step to further enhance the integration of the Nordic and Baltic securities market, HEX Integrated Markets, the marketplace division of OMHEX, and NOREX today announce that HEX Integrated Markets will join the NOREX Alliance.
« By including HEX Integrated Markets, NOREX will cover the whole Nordic region and two thirds of the Baltic area, in total seven exchanges, four clearinghouses and three central securities depositories (CSDs). Our common vision is to create a joint, fully integrated market place for financial instruments, including shares, bonds and derivatives, which in sum will be one of the worlds most efficient securities markets, comments Hans-Ole Jochumsen, President and CEO of Copenhagen Stock Exchange.
« The integrated trading platform and harmonization of rules and practices will generate many benefits to our customers, including increased liquidity, more efficient member access, broader service range and lower costs when connecting to Nordic markets. An integrated Nordic and Baltic market will also attract new members, issuers and investors », adds Kerstin Hessius, Chairman of NOREX and President of Stockholmsbörsen.
The Nordic exchanges common objective is to create a fully integrated Nordic and Baltic securities market and thereby to further improve the competitiveness of the Nordic region.


Stora Enso and Korsnäs to restructure its forest ownership
(08.12.03) Stora Enso's Board of Directors has approved a plan to restructure ownership of the Group's forestlands in Sweden. The plan is a further step in the Group's strategy of freeing up capital and increasing financial flexibility in order to develop its core businesses paper, packaging and forest products.
The Swedish forestlands provide about 30% of Stora Enso's wood supply in Sweden. The forthcoming transaction will be structured so as to secure the supply of wood to the Group's Swedish mills. Stora Enso's partner in this transaction will be Korsnäs, a Swedish forest industry company controlled by the Kinnevik Group. The Swedish forests of Stora Enso and Korsnäs will be transferred to a new company named Bergvik Skog AB to be established by Stora Enso and Korsnäs, which will retain minority shareholdings of 44.9% and 5% respectively in the new company. The rest of the company's shares will be placed with institutional investors. Bergvik Skog will also be financed with a syndicated bank loan (arrangers Handelsbanken and Nordea). It is intended to close the deal during the first quarter of 2004.
Stora Enso will transfer to the new company its 1.9 million hectares of Swedish forests (of which 1.5 million hectares is productive forestland) and Korsnäs its 0.4 million hectares (of which 0.3 million hectares is productive forestland). Bergvik Skog will enter into long-term wood sale contracts to grant Stora Enso and Korsnäs approximately 5.5 million cubic metres (solid under bark) per year of cutting rights at market prices.
Bergvik Skog will have about fifty employees. The personnel of the new company will be recruited from the present Stora Enso and Korsnäs employees. Torbjörn Larsson, M.Sc. in Forestry and MBA, has been appointed Managing Director of the company.


Power outages in Norway, Sweden as winter storm hits Scandinavian peninsula
(08.12.03) Nordic energy ministers had but finished a meeting on the stability of the power supply in the Nordic energy nets last Thursday before winter storms left thousands of homes and industries without electricity.
At the meeting of Nordic energy ministers within the framework of the Nordic Council, Leif Pagrotsky, Swedish Minister of Trade and Industry and chair of the Nordic Council of Ministers for Energy 2003 said that "...society's increasing vulnerability to power cuts necessitate a revision of the regulations for the level and dependability of supplies".
And almost as they left the meeting winter storms began pounding Norway and Sweden with high winds and snow felling trees over power lines. Northern Norway was first hit, closing down the airport at Tromsö and later Saturday thousands of homes in eastern Norway and western Sweden were left without power. Monday morning some 2000 homes in the province of Värmland were still waiting to be reconnected.


FINNAIR’S SANTA EXPRESS
(06.12.03) Finnair, calling themselves "the Official Airline of Santa Claus", will fly some 12.000 tourists on its non-stop scheduled flights to Lapland from four European destinations this winter season.
A total of 86 non-stop services will be flown from Zurich, Paris, Amsterdam and Milan to Kittilä, Ivalo, Kuusamo and Rovaniemi in Lapland.
Activities suggested are, apart from meeting Santa himself on the Arctic Cicrle, skiing, snowmobiling, trying to see the Aurora Borealis and of course cooling off after a Finnish sauna by rolling in the snow. Average winter temperature is in the region of -8 degrees Celsius
The first non-stop Finnair flights from Europe to Lapland this winter will operate on December 5 from Milan to Rovaniemi.


High interest for NextgenTel public offering.
(06.12.03) Norwegian broadband operator NextGenTels public offering is overbooked before closing on Monday at 17:00 hours, according to a report in Dagens Naeringsliv.
"Interest has been high " explains analyst Glen Rodland at First Securities to the paper, "at least if you judge by the number of investors having requested information". NextGenTel expects to bring in about 150 MNOK (abt 18 MEUR) which is highly needed among other things to address a short term debt of 50 MNOK (abt 6 MEUR).


Classified ad website sold for 183 MSEK (20 MEUR)
(06.12.03)The company Finnmer AB, controlled by the Schibsted subsidiary Aftonbladet Hierta AB has today acquired 100% of the shares in the classified ad service www.blocket.se run by Blocket AB. The purchase price is SEK 183 mill.
Blocket has been running since 1996 and is the leading marketplace for private car sales and miscellaneous on the net in Sweden. The acquisition will thus strengthen and compliment Schibsted's position on the classified advertising market. The combined entity of Blocket and Finnmer will be the leading site for classified ads on the net in Sweden. Blocket is expected to generate revenues of SEK 34 mill. in 2003, giving a profit of SEK 13 mill.

Digging for Gold in the cold
(05.12.03) Dragon Launches Construction Of Us $12.25 Million Swedish Gold Project
Dragon Mining NL of Australia is set to make the transition to gold producer within 8 months after commencing construction of its Svartliden Gold Project in northern Sweden. The occasion was celebrated at the weekend at a formal ceremony on site - held in the early winter sub-artic snow and attended by over a hundred locals, construction contractors and government officials.
The Australian-based Company expects to pour its first gold at the 80%-owned Svartliden Project in the rather different climatic environment of the northern summer. The Project is located at a remote site 150 kilometres south of the Arctic Circle.
Svartliden will commence production at an initial rate of 70,000 ounces per annum from an open cut mining operation and on-site, 300,000 tonne per annum treatment facility.


66 Billion NOK to be invested in 'Long Snake' gas field
(2003-12-04) The plan for the development and operation of Ormen Lange gas field (meaning « Long snake », traditonal viking ship name) , the largest Norwegian development project of our time, was submitted by Norsk Hydro to Norwegian Minister of Petroleum and Energy Einar Steensnæs today.
"This is a great day for Hydro," said President and CEO Eivind Reiten. "Today we have submitted the development plan for Hydro's largest single project ever, and we do so with full support from all the partners involved."
The giant project is estimated to cost NOK 66 billion and the first gas will be delivered to the market in October 2007. NOK 19.5 billion of this has been allocated to the transport system. This also will involve Langeled the world's longest subsea export pipeline, which will run 1200 kilometres from Aukra in Nyhamna municipality to Easington in England. Contracts valued at 12 Billion NOK has been awarded over the last two months.
The Ormen Lange field is the largest gas field under development on the Norwegian continental shelf.
It is situated at a depth of 1100 metres in the Norwegian Sea, 100 kilometres north west of the Møre coast.
Once production starts, export to England is expected to account for 20 percent of Norway's gas exports.
The gas from the Ormen Lange-field will cover 20 percent of the UK's demand for gas. When production from the Ormen Lange field starts in 2007, there will be no installations visible on the surface. The wellstream will be taken to Aukra in Nyhamna for processing before export to England. (www.norskhydro.com)


« More Fun for Life » when MTV Finland goes mobile
MTV Finland will expand into mobile connectivity during 2004. The company has signed a co-operation agreement with Radiolinja (Elisa Mobile), part of the Elisa group, under which Elisa Mobile will supply mobile network services to MTV while MTV will offer customers mobile communications services under its own name.
« Mobile Connections offers MTV an interesting new channel for distributing its content. We share the general perception in the telecoms sector that mobile phone user behaviour will focus increasingly on services and media-based use of content », says Juha Juosila, Director of Business Development, MTV Oy's Mobile Connections business. « The agreement with Elisa Mobile gives MTV an outstanding opportunity to provide consumers with a new type of mobile phone connection centred around comprehensive services and content, good customer service, and high-quality network services. MTV Mobile Connections truly embodies our slogan: More Fun for Life », Juosila states.
The mobile connections business forms an important part of MTV's new consumer strategy which includes its Pay-TV, Internet and Content businesses already in operation. The purpose of Mobile Connections and other new business operations Is to bring MTV3 and TV viewers into closer and deeper contact by offering new channels of distribution for MTV's content and services.


Denmarks GDP down in 3rd quarter
(04.12.03) GDP figures for the third quarter released by Statistics Denmark show a slight fall of 0.3 % (adjusted) in the third quarter.
Reduction of stocks, lower exports and rising imports are said to be the reasons behind the drop. Compared to the third quarter last year GDP is down 0.8% (unadjusted). Year-to-date figures have shows the economic activity down by 0.2%.


Ericsson selected by Maxis Malaysa
(04.12.03) Ericsson has been selected by Maxis Communications Berhad (Maxis) as its new wireless partner for 2G and 3G deployment to ensure the smooth evolution of Maxis' network to new technologies. Ericsson will upgrade Maxis' present 2G network, as well as prepare networks in high growth areas for future 3G deployment to ensure a fully integrated GSM/GPRS/EDGE/WCDMA solution.
The contract with Maxis covers both 2G and 3G core and radio access network. In addition to infrastructure supply, Ericsson will provide a comprehensive portfolio of professional services including network design and systems integration.
Ericsson will also set up a joint Application Development Environment with Maxis to jumpstart the development of exclusive multimedia
products and services for its customers, in particular those which take advantage of streaming capabilities such as interactive TV, live concerts and sports, news-on-demand, and many more


SWECO to acquire PIC Engineering of Finland
(03.12.03) SWECO, the Swedish construction consultancy, has signed an agreement to acquire Finland's second largest engineering consultancy, PIC Engineering Oyj, with 900 employees. The transaction will further expand SWECO's presence in the Nordic region. Earlier this year SWECO acquired the Norwegian consulting engineering firm of Statkraft Grøner.
PIC Engineering is one of the Nordic region's leading industrial consulting companies with an annual turnover of more than €60 million. The company provides consulting services for the processing, engineering, manufacturing, electronics and marine technology industries. In addition to Finland, PIC Engineering has operations in Sweden, Estonia and Hungary.
"From an industry standpoint, the acquisition of PIC Engineering is a sound move. It will enable us to consolidate our position in the Nordic market at the same time that we reinforce our existing industrial consulting business. Above all, we will gain a strategically valuable platform in Finland and will continue to build a strong international consulting engineering company", says Wigon Thuresson, Managing Director and CEO of SWECO.


Nokia's networks doubles Russia's second operators GSM coverage.
(1.12.2003)Nokia will extend VimpelCom's GSM/EDGE network in western and central Russia in 70 million USD deal
Russian GSM operator VimpelCom has chosen Nokia to supply an EDGE-capable GSM/GPRS network to expand its GSM coverage and capacity for aggressive growth in key cities in Russia's Central and North West Regions. The deal is valued at an estimated 70 million USD.
Under an extension of an existing framework agreement, Nokia will supply a complete GSM system with EDGE-capable base stations, GPRS and GSM core network equipment.
The frame agreement originally covered areas in Central and Black Earth Region of Russia. The new extension will extend the Nokia-supplied network to new areas in the Central and North West regions, doubling the number of subscribers served by Nokia equipment.
Deliveries will start immediately, with the system to be inaugurated in different cities starting from the end of 2003 onwards.


Bavarian Nordic establishes its own production of vaccines.
(02.12.03) The facility will be one of Europe's largest production sites for vaccines with the capacity to produce up to 120 million doses per year.
Bavarian Nordic has entered into an agreement with Orion Pharma to acquire over the Finnish pharmaceutical company's production facility and administrative offices located in Kvistgaard, 30 kilometres north of Copenhagen.
The total investment in property and buildings along with the planned re-construction will be approximately DKK 250 million. This newly-created production facility will bring Bavarian Nordic up among the largest vaccine producers in Europe.
Another milestone for Bavarian Nordic Peter Wulff, CEO and President commented, "It is an important milestone for Bavarian Nordic's transformation from a biotech company to a biopharmaceutical industrial company that we have secured our own production facility. This guarantees that we can meet the growing international demand for our safe MVA vaccines, first and most importantly against HIV, but also against tropical diseases and smallpox"


Moderate growth in Norwegian economy
(02.12.03) Figures from Statistics Norway Quarterly National Accounts show that growth in the mainland economy picked up throughout the summer this year. Gross Domestic Product (GDP) for mainland Norway increased by 0.8 per cent from the 2n d to the 3r d quarter against 0.5 per cent in the previous quarter.
The growth in the 3r d quarter can mainly be attributed to growth in several service industries, though manufacturing also experienced growth. Within the service industries, wholesale and retail trade and business services were the main contributors to the growth. Manufacturing's value added increased by 1.4 per cent in the 3rd quarter, after decreases of 2.5 and 0.9 per cent in the 1s t and 2nd quarters. The upturn in the 3r d quarter can be primarily attributed to increased export production of pulp, paper and paper products and food and beverage products.
The preliminary figures show an increase of 0.9 per cent in household consumption expenditure from the 2n d to 3r d quarter, after an increase of 1.2 per cent from 1s t to 2n d quarter. The growth in households' goods consumption was 1.1 per cent in the 3r d quarter, while the growth in service consumption was 0.5 per cent. The strong growth in households' purchases of clothing and footwear throughout the first half of 2003 continued in the 3r d quarter, contributing to the increase in the consumption of goods.


Czech Republic recommends Gripen
(01.12.03) The Czech evaluation commission for aircraft procurement has today recommended Gripen to its government ahead of several other competitors.
The Swedish offer constitutes a loan from the Swedish state to the Czech state.
Today’s decision is a stage in the decision-making process ahead of the Czech government’s final decision.
Sweden is offering to loan the Czech Republic 14 new Gripen fighter aircraft for five or 10 years. The Gripen fighters are fully NATO interoperable and were originally intended for delivery to the Swedish Air Force.
If the Czech Republic chooses the Gripen the Swedish state will fully cover any costs associated with the loan.
If the deal does go ahead, Saab will need to perform some modifications and support to match Czech requirements, although the aircraft will be virtually identical to the 39 C standard designed for the Swedish Air Force.
Gripen International with its owners Saab and BAE Systems have also offered industrial co-operation equivalent to 150% of the contract value.
Delivery is planned to begin in the summer of 2005.


Danish railways chugging along nicely.
(26.11.03) DSB (Danish Railways) has made a positive adjustment of its expectations for the year 2003 by DKK 200 million.
"It is positive that the company has achieved a better result than expected through strong control of expenses. Consequently, the DSB Group will see a satisfactory profit for the year", says Chairman of the Board, Executive Vice President Mogens Granborg. The principal elements in the report for the third quarter 2003 are:
- a positive adjustment of the profit before tax for 2003 by DKK 200 million to DKK 700 – 800 million excluding one-off items. This follows an improvement beyond expectations in the third quarter profit.
- DSB saw an increase in passenger revenues amounting to DKK 88 million, corresponding to 3 per cent, in the first nine months of 2003 compared to the corresponding period in 2002 (adjusted).
- lower profit compared to 2002 due to an increase in expenses to improved customer services, loss of revenue in connection with the transfer of the Central and West Jutland lines, one-off items in 2003 for the restructurings and an increase in provisions for holiday allowances .


Bidders sharpening their knives in Hackman offer.
(25.11.03) Ali Group to submit an offer for all shares in kitchen- and houseware maker Hackman.
The Board of Directors of Hackman Oyj Abp has received an announcement from the Italian manufacturer of commercial and institutional foodservice equipment Ali S.p.A. that ALI Group intends to submit a tender offer for all the issued and outstanding shares in Hackman at a price of 37.50 euro per share payable in cash.
Considering that the price offered by ALI Group is higher than the price offered by Nordic Capital in its public tender offer, the Board of Directors of Hackman has decided, for now, to withdraw its recommendation of October 13, 2003, concerning an earlier offer from Nordic Capital.
ALI Group has stated to Hackman that ALI Group's primary interest in Hackman is Metos. As ALI Group is focused on the commercial and institutional foodservice equipment industry iittala would not form
part of the core operations of ALI Group in the future. The intention of ALI Group would be to divest iittala in due time when an agreeable solution has been found in cooperation with the present management team. Metos would be combined with ALI Group to form the leading European company within professional kitchen equipment and services.


Amer Group negotiates pull out from its tobacco business
(18.11.03)Amer Group Plc is reviewing the possibility of withdrawing from its non-core tobacco business and initiating employer/employee negotiations concerning Amer Tobacco Ltd in Finland.
Amer Tobacco Ltd has an exclusive right to produce and sell Philip Morris cigarettes in Finland. Transferring the license to a third party is not possible without permission from the licensor. According to the licensing agreement, the license can be terminated at the end of 2005 at the earliest, if not otherwise agreed between the licensee and the licensor.

Amer Group is negotiating with Philip Morris the possibility of terminating the license agreement prematurely, during the spring of 2004.

"Our strategy is to develop our sports equipment business and to become the number one sports equipment company in the world. We think that now is the right time to negotiate the possibility of withdrawing from the tobacco business", says Mr. Roger Talermo, President and CEO of Amer Group. "We estimate that the profitability of the tobacco business will decline due to the enlargement of the European Union, among other reasons."

Negotiations with staff will commence on 26 November 2003 and will apply to Amer Tobacco Ltd's entire workforce, totaling approximately 320 persons.

In 2002 Amer Tobacco reported net sales of EUR 114.4 million.

Carlsberg Sweden drops production in Stockholm
(18.11.03)The Board of Carlsberg Sweden has decided to transfer the production of beer and soft drinks from the brewery in Stockholm to Falkenberg and to a lesser extent to Copenhagen. The transfer of the production will take place gradually, and the process is to be completed during October 2004. It is expected that this decision will improve Carlsberg Sweden's operating profit with approx. 70 million SEK annually with full effect from 2005.
As a result, approx. 300 jobs will be shed in Stockholm, however, approx. 60 new jobs will be created in Falkenberg. One-time costs related to the restructuring cannot yet be specified.

The reason given for the decision are the past years' weak development in Carlsberg Sweden's sales and earnings in a market characterized by a very high level of excise duties on beer, substantial parallel import and increasing consumption of discount beer.

As to rationalisation of administration in Sweden, a decision is expected to be made during December 2003.



Karo Bio to consolidate research operations to Sweden
(18.11.03) Karo Bio has decided to reduce its presence in North Carolina USA. Technologies, key projects and other research activities will be transferred immediately. The consolidated research organization will be located at the Company’s headquarters in Huddinge, Sweden. Through this action, Company headcount will be reduced by 26 to reach 100 persons.
US based Novalon Pharmaceutical Corporation was acquired by Karo Bio in 2000. The acquisition focused upon access to novel drug discovery technologies developed by Novalon such as the BioKey® screening systems and Molecular Braille® compound characterization and selection system. These technologies have been successfully integrated into the Karo Bio drug discovery platform. The US subsidiary has been involved in the earlier stages of drug discovery through screening of compound libraries and assay development. Now, Karo Bio will consolidate its research in Sweden and focus on advancing selected projects into later stages of drug discovery and pre-clinical research.

“This is a necessary step for Karo Bio to create a lean organization without losing momentum in the most prioritized projects” says Bjorn Nilsson President of Karo Bio. ”We regret that excellent people in the US will need to leave the Company but it is essential that we focus our resources on the most promising areas and activities.”



Metro launches new edition in Spain and takes the lead
(18.11.03) Metro, the international newspaper group with Swedish roots, today announced that it has launched its fifth edition in Spain and will subsequently become the largest newspaper in Spain with a daily circulation of over 600,000 copies. The 29th edition of Metro was launched today in the city and region of La Coruna, which has a population of one million and is Spain's fourth largest advertising market with annual newspaper advertising spend of approximately US$ 100 million.
The new launch follows the expansion of Metro into Seville and Zaragoza in Spain in September. Metro was launched in Barcelona and Madrid during 2001. Metro is now published in five of Spain's largest advertising markets and covers a distribution area that encompasses more than a third of Spain's population and attracts 55% of Spain's annual newspaper advertising spend of over US$ 3 billion. The new edition will be distributed by hand and from racks in the centre of La Coruna and the surrounding region.

Pelle Törnberg, President and CEO, commented: "Our Spanish editions reported a combined profit in the nine months to the end of September and we have established a strong position in each of the city markets that we have entered. Our five Spanish editions make us the largest newspaper in Spain, which further enhances the unique reach that we can offer advertisers with a high proportion of young and female readers."



Skanska to construct airport terminal in Prague
(17.11.03) Skanska has been contracted to construct a new terminal at the Ruzyne International Airport in Prague. The contract is valued at a total of SEK 886 M. Skanska's share of the contract is 72.5 percent, corresponding to SEK 643 M. The customer is the Czech Airports Authority.
The contract is one of the largest public projects in the Czech Republic in recent years. Financing is being arranged through the European Investment Bank (EIB).

The new Terminal North 2 at the Prague Ruzyne International Airport is being constructed on two levels, with an area of 28,690 square meters. The building will house departure and arrival halls and will be linked with existing terminal buildings.

The contract is included in order bookings for the fourth quarter of 2003.



Norsk Hydro out of Scanraff
(16.11.03) Norsk Hydro has signed an agreement relating to the sale of the company's 25 percent share in the Scanraff oil refinery at Lysekil in Sweden to the oil company.
Preem, which already owns the remaining 75 percent of the refinery. Scanraff is the largest refinery in the Nordic region, and one of the most modern in Europe, with an annual processing capacity of 10 million tonnes.

The sales proceeds from Hydro's share in Scanraff is approximately NOK 1.4 billion, inclusive of transfer of debt. In addition, Preem will assume the inventory relating to the refinery operations at market price, valued at the transaction date. The transaction is expected to reduce the capital employed in the Segment by approximately NOK 1.8 billion.

The deal is expected to be concluded in the course of the fourth quarter of this year, pending approval from the authorities. The transaction is expected to result in a profit for Hydro of approximately NOK 600 million. There will be no tax effect for Hydro.

After this sale, Hydro will no longer hold an ownership interest in the refining business. Hydro will meet the requirement for refined products for its Swedish retail marketing by means of a long-term supply agreement signed with Preem.



Urban Bäckström new CEO of Skandia Liv
(23.10.03) Former head of Riksbanken (the Swedish Central Bank) Urban Bäckström has been named has been cosen to take the helm as new President and CEO of Swedish Life Insurance Policy giant Skandia Liv. Skandia Liv has been rocked in the past weeks by allegations of misappropriate distribution of apartments in Skandia owned building to executive siblings, and on top of this, general anxiety that Skandia Liv was not performing as expected. Bäckström will take office on 1 November.
Urban Bäckström comments from the Press conference:
"I am grateful for the confidence that the board has shown in me. At the same time, I am clearly aware that the true challenge will be in winning the policyholders' confidence. I have witnessed the anger and disappointment that many customers have expressed recently, and I have a great understanding for it. I realise that restoring the policyholders' confidence will be an painstaking task."

He went on to say "I have to say that I hesitated before taking on this job. I also demanded that a number of conditions be met before I would accept."

"First, I wanted to be assured that the questions surrounding Skandia Liv and the relationship between Skandia and Skandia Liv are sorted out thoroughly, seriously and sincerely. I have had in-depth conversations with Skandia Liv's chairman, Lars Eric Ericsson, as well as with Skandia's chairman, Bengt Braun, and I feel I have seen such a will to get to the bottom of things."

"Second, I wanted assurances that Skandia Liv will have a clear and distinct mission from its owner - Skandia - to independently do what the company is supposed to do, namely, manage long-term retirement savings for its customers at a low cost and with favourable returns and reasonable risk exposure. No other business or considerations can be allowed to come in the way of this mission. On this point I am satisfied with the intentions shown behind the owner instructions that the parent company Skandia is currently drafting. Such instructions bind Skandia Liv firmly to its mission and protect its integrity and independence in executing it."

"Third, I wanted to be assured that Skandia Liv and its management have a clear mandate to organize Skandia Liv's operations and focus so that they are in accord with its mission. This applies to the view of risk management, investment focus, fairness between various collective groups of savers and, naturally, the company's organization and operations as well as competent asset management. I have had this mandate confirmed by Skandia Liv's board as well as by the parent, Skandia. It is in view of the fact that these demands have been met that I decided to answer Yes to the question of whether I could consider serving as CEO of Skandia Liv. It is an interesting, stimulating and important assignment; but I do not want to make light of the fact that I also see it as a difficult challenge," concludes Urban Bäckström."


The A-Train finds new owner down under
(10.10.03) The Stockholm Arlanda airport link, the A-Train, and it's owners - NCC, Vattenfall, Alstom and Mowlem - have concluded an agreement with Macquarie Bank of Australia regarding the sale of all of the shares in A-Train.
According to the agreement, the sale consideration will consist of a cash portion of SEK 70 million, the assumption of commitments towards financiers corresponding to SEK 200 million and collateral of approximately SEK 130 million for train-leasing agreements, making a sum total of about SEK 400 million.

"The final sale still awaits the final approval of the Swedish government´s holding company A-banan Projekt AB and A-Train's financiers. If the purchaser fails to complete the transaction, it will pay the sellers SEK 50 million. The final date for completing the transaction is December 31, 2003.

Macquarie Bank intends to transfer A-Train to its recently created Macquarie European Infrastructure Fund.

A-Train operates Arlanda Express, the express rail service between Stockholm Central Station and Stockholm Arlanda Airport. A-Train, whose traffic operations were launched in November 1999.<



Volvo Buses sells city buses for Tunis
(25.10.03) Volvo Buses' International business region has secured an agreement for 91 buses for urban transport in Tunis.
The Tunisian city bus company SNT (Société Nationale de Tunis) and Volvo Buses have signed two contracts, one for 49 B10MA, and one for 42 standard version B7R 4x2 for urban transport.

The chassis of the buses will be delivered from Volvo Buses' factory in Brazil before the end of November. Volvo Buses' importer and bodybuilder, Setcar-Magrimex, will produce the bodies, and the buses are estimated to be ready for delivery to the end customer between January and March 2004.

"We believe in Tunisia and the country's growth potential and it is already one of the most important markets for our International business region", says Håkan Sjöberg, sales manager for the Middle East and North Africa.


Magnet wins 'Best UK Retail Interior'
(25.10.03) Swedish Nobia's British business unit Magnet has been awarded the prestigious title of 'Best UK Retail Interior 2003' for its new concept store in Chester. The prize is awarded by the Retail Interiors Magazine, and is given for a store interior that is simply outstanding in all respects.
Designed by a team of in-house designers, the new Chester branch was chosen by Magnet as the first of its stores to showcase the new retail concept interior. The store offers customers an aspirational retail experience, and is designed to correspond to today's experience-oriented purchasing pattern.

The kitchen showroom features state of the art materials and 'gadgets' such as a 42" plasma screen on which customers can see their kitchen designs. To allow customers to be self sufficient if they desire, there are interactive screens in-store that are linked to Magnet's new website. As a large proportion of Magnet's core customers have families, the store has a specially designed children's area complete with a Nintendo playstation, a mini-kitchen and a number of games.

The Retail Interiors Magazine is an international magazine aimed at specifiers and buyers within retail groups, architects, shop fitters and interior designers.


The Swedish Sports Confederation chooses IP-telephony from Norwegian Ementor
(18.09.03) In a bid between five providers, the Swedish Sports Confederation chose Ementor to implement and service the confederation's new IP-telephony solution, where Cisco is the main hardware supplier. At the present time, the implementation covers 800 connections, but will later, when all 21 confederations are connected, handle 1 600 connections.
"We chose Ementor because they are able to deliver the functionality we need from the date required, and because they take full responsibility for the service of the system", says Göran Larsson, Head of Administration at the Swedish Sports Confederation. "We assume that the transfer to IP-telephony will reduce our costs related to maintenance, and we are looking forward to have extension numbers to all connections within all the confederations", he continues.

"Advantages such as lower costs, user-friendliness and better functionality are factors contributing to IP-telephony solutions today being installed in both large and small businesses and organisations. This, combined with Ementor's competency and focus upon IP-telephony, gives the Swedish Sports Confederation a safe solution for the future", says Thomas Kylander, Marketing Manager at Cisco Systems in Sweden.

"The new agreement proves that Ementor has a strong position as an end-to-end provider. The agreement with the Swedish Sports Confederation covers hardware, as well as consulting services", says Johan Rittner, Managing Director Ementor Sverige AB.


Tele2 passes 20 million customers mark
(18.09.03) Tele2 today announced that the company passed the 20 million customer mark at the beginning of September. This suggests that the customer intake during the third quarter will be the highest in the company's history. At the end of June, Tele2 had 18.7 million customers.
"Reaching 20 million customers is an important milestone in the development of the company, but only the beginning of the journey. The momentum we have gained in customer intake and lower churn is the main reason for the large customer intake, although the summer months typically have a lower customer intake", said Lars-Johan Jarnheimer, CEO of Tele2.

"The Fink family from Düsseldorf in Germany, are the 20 millionth customer to choose Tele2's good value, smart and flexible communication solutions. The family recently became a Tele2 pre-select customer", concludes Lars-Johan Jarnheimer.


OLT GmbH, Germany Orders Second Saab 2000 to provide international service into the UK
(18.09.03) OLT GmbH, Germany has acquired a second 50-seater Saab 2000 for service between Finkenwerder (Hamburg area), Bremen, and Filton in the UK.
"We selected the Saab 2000 because we consider it an outstanding aircraft. The 2000 offers our customers high speed operation and allows us to provide them with business class service and comfort levels," said OLT President Gerd Weber.

The second Saab 2000 will initially be operated between Filton-UK, Finkenwerder and Bremen for its customer, Airbus.

The Saab 2000 was delivered to OLT and placed into service in late August. OLT's fleet consists of one Saab 340A, two Saab 2000s and four Metros. The airline offers more than 65 flights per week mainly concentrated from its Bremen operational hub.



Nokia scores title sponsorship of Nokia African Cup of Nations
(11.09.03) Nokia has today in Nairobi, Kenya announced that it will be the title sponsor for the African Cup of Nations football tournament in 2004. The Nokia African Cup of Nations is a football tournament organized every two years on the African continent. From its start in 1957, the tournament has grown and developed into the largest sporting event in Africa. This is the first time the Cup has a title sponsor.
"Football is the most popular sport in Africa, and the Nokia African Cup of Nations tournament connects the continent, its countries and people in an involving and entertaining way," said Pekka Rantala, Vice President, Marketing Services, Europe and Africa, Nokia Mobile Phones. "This sponsorship is a natural extension of Nokia's focus on new growth markets, and is a perfect example of an event incorporating the core philosophy of the Nokia brand, Connecting People. We are looking forward to an amazing tournament, with a full schedule of enthralling games."

Nokia is supporting the sponsorship with a stimulating youth programme in various African countries. The goal of the programme is to present African youth the exciting future of mobile connectivity through fun and interactive shows and demonstrations. The youth programme is designed to offer participants an opportunity to learn about mobile technology while also having fun with friends in entertaining football events.

This year, the official draw for the Nokia African Cup of Nations will take place in Tunis on September 20. .


SAS Group acquires 49 percent of Estonian Air
(11.09.03) SAS AB has signed an agreement with Danish Maersk Air A/S to acquire 49 percent of the shares in the Estonian airline Estonian Air. The other shareholders of Estonian Air are the Estonian Government with 34 percent and the Estonian investment banking firm AS Cresco with 17percent.
SAS has also signed an agreement with Cresco covering a possible increase of SAS shareholding in Estonian Air. In addition to Estonian Air, SAS AB acquires 100 percent of the shares of Maersk Air Maintenance Estonia AS, a company based in Tallinn providing technical maintenance for aircraft. The total purchase price is MSEK 180.

"Estonian Air is a profitable, strong and growing company in a strategically highly attractive region. Traffic to and from Estonia is expected to increase by at least 8-10 percent annually," says Gunnar Reitan, Executive Vice President, Subsidiary & Affiliated Airlines.

The acquisition is expected to have a neutral effect on the SAS Group's earnings during 2003 and a positive effect in 2004.


TeliaSonera takes over Swedish Post Office's electronic ID operations
(11.09.03) TeliaSonera has signed an agreement with the Swedish Post Office (Posten) to take over Posten's CA business - the Posten unit that issues certificates for electronic identity. With this agreement, TeliaSonera is now the market leader in Sweden when it comes to services and products in the e-security area.
By taking over Posten's CA operations, TeliaSonera is now the leading issuer of electronic identities in Sweden. "In strategic terms, this is a particularly important agreement for TeliaSonera because we believe that the need for electronic identification will increase as authorities eventually become open on a 24-hour basis," says Anders Gylder, head of TeliaSonera Sweden's Large Corporate Customers segment.

"By taking over this business, we are taking yet another step towards standardising security solutions. This is especially important for customers who are about to make substantial investments in the e- security area, who have also been waiting to see how industry solutions would develop," adds Anders Gylder.

According to Anders Gylder, customers who are using Posten's electronic identification services can continue to use these services backed by effective support from TeliaSonera. "TeliaSonera and Posten are more or less utilising the same technical platform and we have the same regulations and security requirements for managing these operations," says Anders Gylder.


Stora Enso Timber to build a second sawmill in Latvia
(28.08.03) Stora Enso Timber will build a new sawmill at Krustpils, near Jekabpils in Latvia, as part of the expansion programme announced in August 2002 when it acquired a majority shareholding in Sylvester's five sawmills and a component mill in Estonia and Latvia. The total investment will be EUR 50 million.
"The Krustpils Sawmill will concentrate on European construction markets, complementing our product range in the timber frame business. It will also support the co-ordination our wood procurement, especially log supply, in the Baltic States together with Launkalne Sawmill in northern Latvia and Alytus Sawmill, which will start production in September 2003 in southern Lithuania," comments Peter Kickinger, Executive Vice President, Stora Enso Timber.


TeliaSonera to step up ownership in Omnitel
(26.08.03) TeliaSonera AB today announced that its wholly owned subsidiary Amber Mobile Teleholding AB, has reached an agreement with Motorola Lithuania Telecom Inc, a wholly owned subsidiary of Motorola Inc., to acquire Motorola's 35-percent shareholding in UAB Omnitel of Lithuania. TeliaSonera agreed to pay USD 117 million for Motorola's shares. The final closing of the deal is contingent on the approval of the transaction by the Lithuanian Competition Council. When the transaction is concluded, TeliaSonera will hold 90 percent of the shares in Omnitel.
Since the merger between Finnish Sonera and Swedish Telia in December 2002, TeliaSonera has pursued its aim of strengthening TeliaSonera as the leading mobile and fixed-line telecom operator in its core market, the Nordic-Baltic region. "Our aim has been to strengthen TeliaSonera's ownership position. The Omnitel deal is a clear manifestation of our strong long-term commitment to the region," TeliaSonera's CEO Anders Igel stated.

As previously announced, Motorola has decided to exit the network management business and focus on their core competencies. Motorola remains committed to the Lithuanian market and will continue to supply Omnitel with infrastructure equipment and handsets.


Tele2 launches its fifth GSM-network in Russia
(26.08.03) New York and Stockholm - Tele2 AB, the leading alternative pan-European telecommunications company, today announced that it has launched a GSM-network in Omsk, its fifth in Russia under the Tele2 brand.
The population covered by the GSM-license in Omsk is two million and the region's mobile penetration is approximately 13%. Tele2 is the third mobile operator to launch GSM-services in the region. As in Irkutsk, Rostov, St Petersburg and Kemerovo, the GSM-network in Omsk was launched based on the GSM1800 standard, having similar coverage per base station as the GSM900 standard by using a phased array antenna solution from Radio Components.

Lars-Johan Jarnheimer, CEO of Tele2 said; "The GSM-launch in Omsk follows on from our successful launches in Irkutsk, Rostov, St Petersburg and Kemerovo. The Russian mobile market offers substantial growth potential for Tele2 and we are very satisfied with our progress thus far."


SCA buys into Chilean hygiene products company
(25.08.03) SCA has acquired 50% of the privately owned Chilean hygiene products company Papeles Industriales S.A. (PISA) for a transaction value on a debt-free basis of about SEK 470 M.
PISA is currently Chile's second largest producer of tissue, with a market share of about 25%, and holds a growing position in baby diapers. The acquisition is a complement to SCA's positions in the hygiene markets in Mexico, Colombia, Ecuador and other neighboring countries. SCA is already engaged in a joint venture in Chile for the sale of feminine hygiene products.

Growth in the Chilean tissue market during the past ten years has amounted to nearly 6% annually and is expected to continue at a high level. PISA's tissue operations in Santiago comprise two paper machines with a combined annual capacity of about 40,000 tons and a modern and efficient converting plant.



Skanska hits paydirt in Hong Kong valued at SEK 2.4 billion
(25.08.03) Gammon Skanska has been awarded another contract for the new link between Hong Kong and Shenzhen. The new contract, which includes a highway bridge, is valued at a total of SEK 2.4 billion. Skanska's share of the contract is 42.5 percent, or HKD 935 M, corresponding to about SEK 1 billion.
The contract involves a 3.5-kilometer dual three-lane highway, of which 3.2 kilometers is being constructed over water. The new highway, the Hong Kong- Shenzhen Western Corridor, will link Hong Kong and southern China. This is Gammon Skanska's second billion-HKD contract on the Hong Kong side of the new link.

The Gammon Skanska's new project comprises of a 460-meter cable-stayed bridge with a span of 210 meters, a 2.7-kilometer elevated approach viaduct constructed in pre-cast segments and a 330-meter highway on land that will connect with Gammon Skanska's project on the northern section of the new Deep Bay Link.

In addition, a temporary 2-kilometer steel access bridge structure will be constructed to facilitate building the approach viaduct. A unique heavy lift floating crane will be used in conjunction with construction of the permanent bridge to ensure that marine traffic is not disturbed. In the planning and construction of the cable-stayed bridge, Gammon Skanska will apply the combined bridge-building expertise available within other Group companies. The Chinese company Zhongtie Major Bridge Engineering (MBEC) is also engaged in the project, accounting for 15 percent of the total contract amount.



Stora Enso Timber opens first sawmill in Russia
(20.08.03) Stora Enso Timber's first sawmill in Russia is offically opened today at Impilahti in the town of Pitkäranta in the Republic of Karelia. The event marks the Company's entry into the Russian wood products industry. A second greenfield sawmill in the village of Nebolchi in the Novgorod region is scheduled to begin operations later this year.
"The start-up of Impilahti Sawmill and other investments related to sawmilling and wood procurement will create and strengthen the basis for Stora Enso's industrial development in Russia. The start-up of local production also demonstrates our growing interest in Russian markets," says Arno Pelkonen, Senior Executive Vice President, Forest Products.

The wood procurement area for Impilahti Sawmill will be partly in Karelia and partly in other regions of Russia. The sawmill will use only smaller spruce logs. It has an estimated production capacity of 100 000 cubic metres per year, and it will employ 54 people. The total investment is EUR 8 million.



Nokia releases play, share and compete via the N-Gage Arena
(20.08.03) Online and mobile game play has become a reality today, as Nokia reveals the N-Gage Arena service. Available globally, the N-Gage Arena will be the home for the worldwide virtual community of gamers, to share their experiences and to find other players for mobile online fun. The service will go live on October 7, 2003.
"Mobile online elements form a key strategy in the Nokia N-Gage total games experience. The N-Gage Arena will be the place where gamers meet and create virtual communities, share their experiences, find new challenges and make friends with players all over the world," said Ilkka Raiskinen, Senior Vice President and the Chief N-Gager, Nokia Mobile Phones. "For the first time, a gamer sitting in a park in London can find another player and 'shadow race' against a player in Los Angeles or even Singapore, who has posted a shadow image of his game character in the N-Gage Arena. The London gamer can in turn post a clip of the game on the site, showing his victory and simultaneously challenge the rest of the game community. We are incredibly thrilled by the versatility of opportunities by this virtual games arena."

The ability to play, share and compete over the air makes the N-Gage Arena unique in the mobile industry, complementing the games experience and extending business strategies for operators and publishers alike. Nokia will host the service and it will be offered to the gamers through operators. Nokia will also provide publishers and developers the tools to create new and compelling online content for their games.



ReadSoft signs up SAS
(20.08.03) Scandinavian Airlines, SAS has decided to implement ReadSoft's software for electronic invoice processing. The ReadSoft software will cut down on invoice handling costs and increase invoice processing efficiency. The new agreement concerns implementing the INVOICES technology within the SAS group.
Eager to increase efficiency, SAS has decided to implement electronic invoice handling by using ReadSoft's patented technology. In the initial stage, INVOICES will process some 200,000 invoices per year. The software will be connected to an account authorization system from Component Software and thereafter integrated with a business system.

"Airlines are like many other businesses depending heavily on paper which makes our solution very suitable. It is very rewarding to be able to help SAS strengthen their business processes by this group agreement. We will monitor the roll-out of INVOICES within SAS carefully to assure customer satisfaction," says Jan Andersson, MD at ReadSoft.

Ulla Edlund, VP Corporate Accounting at SAS, explains:"There is a great potential for efficiency increases, especially if you consider that we previously handled our invoices manually. Electronic invoice processing has many advantages and it is a great relief to finally get rid of the piles of paper invoices. Choosing ReadSoft came naturally as it is a well-reputed company which has helped us taking a leap forward with this new way of working.



GETINGE acquisition gives world-leading position in respirator technology
(15.08.03) Getinge AB has today signed a binding agreement for the acquisition of Siemens Life Support Systems. The acquisition is conditional upon approval from the relevant competition authorities.
Siemens LSS is expected to generate a sales turnover of around EUR 205 million during the current financial year, which ends on 30 September. Siemens LSS employs around 720 people worldwide, of which around 400 work at the headquarters in Solna, Sweden, where the division's centre for product development, manufacturing and marketing is also located. Siemens LSS sells medical technology equipment to around 100 countries annually, having its own sales companies on all significant markets.

"The acquisition of Siemens LSS is a unique opportunity for Getinge to integrate one more world-leading medical technology business into our most expansive area, Surgical Systems. Siemens LSS meets all the criteria we consider important for an acquisition - a strong product range, wide-ranging skills and focus, a strong market position and a broad geographic platform. In addition, its business has a strong Swedish base, making this deal even more pleasing," says Johan Malmquist, Getinge's CEO.

Siemens LSS, a division of Siemens Medical Solutions, is one of the largest suppliers to the healthcare industry in the world.



Carlsberg Breweries increases foothold in Vietnam
(14.08.03) Carlsberg Breweries A/S acquires the Danish Industrialization Fund for Developing Countries' (IFU) shareholdings of 25 per cent in South-East Asia Brewery Ltd. in Hanoi and 15 per cent in Hue Brewery Ltd. in the central part of Vietnam for a total of DKK 95 million.
Carlsberg Breweries already owns 35 per cent of the two Vietnamese breweries and hence increases its shareholding to 60 per cent and 50 per cent, respectively. The remaining share capital in South-East Asia Brewery is owned by a Vietnamese state owned company, and the local government of Hue owns the remaining shares in Hue Brewery. The acquisition is subject to approval by local authorities.

South-East Asia Brewery brews and sells both the premium brand Carlsberg and the local brand Halida. Hue Brewery brews and sells the local brand Huda. In total, the two breweries hold a market share of about 9%. The yearly market growth rate over the past three years has been approx. 4%, and with a yearly per capital consumption of only 9 litres there is a large growth potential.

Carlsberg has been co-operating with IFU in Vietnam since 1993.


Biotech Pyrosequencing Acquires Personal Chemistry
(13.08.03) Pyrosequencing's acquisition of Personal Chemistry creates critical mass, gives a broader product portfolio and platform for continued consolidation
"The acquisition creates a world leader among biotechnology companies with a strong customer base among both commercial and academic customers. The two companies are each world leaders in their own fields and we see great opportunities for expansion into new fields. Consolidation is on the way in the biotechnology industry, and this constellation creates a basis for playing an active role in further consolidation. The new company will have cash assets of over SEK 400 million, and this will make it possible to acquire complementary companies. We estimate that the yearly cost synergies will amount to SEK 50-70 million and it is our ambition to reach profitability in the new company as soon as possible," concludes Jeff Bork, Chairman, Pyrosequencing

"A merger between Pyrosequencing and Personal Chemistry is a logical stage in the development of the companies, since global market processing and sales now have the highest priority. As long as efforts were principally directed towards research, development and initial market processing, the focus that the existence of two separate companies gave was a major benefit. However, what is needed now is to reach critical mass," comments Ove Mattsson, Chairman of Personal Chemistry

The transaction is supported by the principal shareholders of Personal Chemistry, i.e. HealthCap, Investor Growth Capital, 3i, SEB Företagsinvest, Sören Nygren, Bankinvest, SEB fonder and Mr Bengt Falk.



Kemira buys majority of US water treatment company Kemiron
(13.08.03) Kemira has taken a significant step forward in it's water treatment business by expanding the present holdings in the US-based company Kemiron Companies Inc. from 15 % to 60%. The parties have also agreed on the terms, whereby Kemira is obliged to buy the remaining 40 % of shares.
"The United States are the world's largest market for water treatment chemicals and positive development for Kemiron is expected to continue with the shift in main growth areas to applications that favour Kemiron's core competences in iron and speciality aluminium coagulants," concludes Lennart Johansson, Senior Vice President, Kemwater.

From the start in 1992, Kemiron Companies Inc. has had considerable success in the water treatment market, and the company now ranks as USA's largest producer and marketer of a complete product range of iron and aluminium coagulants. The company has fourteen, strategically located manufacturing and distribution sites with headquarters in Florida.

The former majority owner and founder, Mr. Lawrence Hjersted, will remain as a minority shareholder in the company, and will continue as President and CEO of the company.



Hongkong Post to print postage stamps in Sweden
(13.08.03) Hongkong Post today announced an alliance with Sweden's Postal Service, Posten, to print postage stamps. Hongkong Post is just one of a growing number of international postal operators electing to partner with Posten, whose hand-engraved stamps and printing excellence are acknowledged worldwide. Posten's world-renown engraver, Czeslaw Slania, is engraving the stamps.
When it comes to the highly specialized steel engraving printing process, Posten has considerable expertise and its printing operation has long been recognized as a world leader. Many national postal operators therefore happily partner with Sweden's Postal Service. Partnerships most commonly arise in conjunction with joint issues; however, Posten prints and designs stamps for other postal companies too.

Britt-Inger Hahne, managing director of Posten Postage Stamp comments: "The close working relationship between design, engraving and printing produces high-quality stamps and makes us an attractive partner for international postal-service providers. As competition for stamp collectors intensifies, more and more companies have come to realize the importance of offering manually engraved stamps of superb quality."

In Asia in general, and China in particular, there is a growing market for stamps and other miniature art. Previous strategic partners in Asia include China, Singapore and Thailand. Australia, Vatican City and the Faeroe Islands are among those to have postage stamps engraved and printed in Sweden.



Nokia to deliver WCDMA 3G Core network to sunrise in Switzerland
(05.08.03) Nokia has signed an agreement to supply sunrise's WCDMA 3G core network in Switzerland. Deliveries have already commenced with Nokia providing the 3G core network equipment for the smooth roll-out and introduction of sunrise's nationwide WCDMA network. The network is expected to be commercially launched by the end of 2004.
The Nokia WCDMA 3G core Solution will enable sunrise customers to enjoy advanced multimedia mobile services, such as multimedia messaging and live video streaming.

In addition to network equipment, Nokia provides support in project management, implementation and integration for efficient network ramp-up, as well as a wide range of care services, including training, software maintenance and emergency services, to help maintain the competitiveness of the network. The equipment will be integrated into existing Nokia NetAct(TM) operations support system for combined 2G/3G network and mobile service management.

"We are sure that Nokia's 3G solution will provide technologically superior service and will meet our needs for cost-efficient and effective roll-out to deliver 3G services to our customers. sunrise is recognized as an innovator in the Swiss market and has committed to provide its customers exciting and user friendly 3G services of high quality standards. Nokia has demonstrated their support towards this goal," says Bo Chamberlain, CTO, Executive Director Network, sunrise. .


USA orders Anti Tank weapons from Saab
(05.08.03) United States Special Operations Command, USSOCOM, has placed an order with Saab Bofors Dynamics for weapons and ammunition for the Carl-Gustaf system amounting to approx 165 MSEK.
"This important contract indicates a continued trust by the customer in the system as such and in our company as supplier", says Tomas Samuelsson, head of Infantry Weapons at Saab Bofors Dynamics.

USSOCOM has, as a demanding and professional user/buyer, also been the driving force in the continuing process of modernizing the system both for safety and performance.



Ericsson named sole supplier for WCDMA to SingTel in Singapore
(30.07.03) Ericsson has been selected by SingTel as sole supplier for their WCDMA system in Singapore. Ericsson will also expand and upgrade SingTel's present 2G system for a fully integrated, nationwide GSM/GPRS/WCDMA solution. The contract is valued at USD 125 million.
The agreement with SingTel comprises a complete 3G system including core and radio access network. In addition to infrastructure supply, Ericsson will provide a comprehensive portfolio of professional services including network design and systems integration. Ericsson and SingTel will work together to bring new, value added services such as video streaming to SingTel's customers.

Mr. Lucas Chow, SingTel's Executive Vice President of Consumer Business and CEO of SingTel Mobile said: "SingTel is pleased to appoint Ericsson as the supplier of its 3G network in Singapore as it has given the most attractive proposal. We are confident that with Ericsson's proven global expertise in mobile networks and technologies as well as their commitment to 3G, Ericsson can help us deliver high quality 3G services to our customers."

"We are delighted by SingTel's decision to select Ericsson," said Claes Ödman, President of Ericsson Singapore. "This important agreement reinforces the close strategic relationship which exists between the two companies. Ericsson is fully committed to support SingTel's 3G effort in Singapore and its position as the premier operator in the region."



Accounting inaccuracies discovered in Intrum Justitia's English operations
(30.07.03) In preparing its half-year accounts, Intrum Justitia discovered accounting inaccuracies in England. Intrum Justitia has thus initiated a thorough review to further substantiate the necessary adjustments to its accounts and the reasons for the inaccuracies. At present, the company's best estimate is that these adjustments will equate to an item affecting comparability amounting to SEK 80 M before tax.
A new management team for the English operations, consisting of Mr. John Easden as Country Manager and Brian Hanks as Financial Manager, is in place. The previous Country Manager, Mr. Jim Burton, and the previous Financial Manager, have left their positions.

Preliminarily, operating earnings (adjusted EBITA) amounted to SEK 202 M (214), excluding the item affecting comparability ensuing from the accounting inaccuracies.

"I feel comfortable that the new management team in England will solve all outstanding issues in connection with the accounting inaccuracies we discovered", said Mr. Jan Roxendal, CEO of Intrum Justitia. "We have a sound operation in England - Intrum Justitia is the number one company and our position has recently been strengthened by new business gains."

The inaccuracies have been brought to the attention of the Stockholm Stock Exchange which has decided to investigate if the operations are to be subject to penalties.



Alfa Laval signs joint marketing agreement with Millipore
(27.07.03) Alfa Laval and Millipore Corporation, a multinational bioscience company, today announced a USA joint marketing agreement for Alfa Laval's high-speed biotechnology centrifuges and Millipore's multi-layer depth filters. This integration of equipment will allow the efficient recovery of biopharmaceutical proteins generated by cell culture and fermentation.
"The first steps in drug recovery after a bioreactor are often the most challenging and require a series of centrifugation and filtration steps. By combining our knowledge with Millipore's we are able to offer our customers with an optimal solution for primary recovery," says Kirk Spitzer, President of Alfa Laval Inc. the U.S. subsidiary of the Alfa Laval Group.

Each company will exclusively promote the other company's products to customers requiring centrifugation and depth filtration. The partnership also covers assistance with sales activities, preparation and publication of technical articles, joint field- testing and customer demonstrations of this centrifugation and depth filtration combination.

"The expertise from both companies will speed the drug development process and enhance customer process economics. Integrating and optimizing the key technologies of centrifugal separation and depth filtration will improve customers' process efficiency, lower capital costs and reduce operating costs," says Susan Vogt, President of Millipore's Biopharmaceutical Division.



Seat belt maker Autoliv buys German Licensee
(27.07.03) Autoliv Inc. Swedish maker of automotive safety systems - has agreed to buy the German seat belt company Protektor, which specializes in seat belts for niche markets, such as seat belts for buses, heavy trucks, forklifts, agricultural vehicles and other special-purpose vehicles. Autoliv is the world's largest supplier of seat belts for for passenger cars and other light vehicles. Protektor sells in 20 countries. Exports account for 35% of the company's €10 million in turnover.
"Protektor is a perfect bolt-on acquisition", said Autoliv President and CEO Lars Westerberg. "Its products are identical to ours, because Protektor produces seat belts under an Autoliv license. But Protektor focuses on other customers, which will give us additional sales. Protektor is working with low volumes of tailor-made belts for specialized customers, while Autoliv is servicing the global mass market. Because our businesses are so different, we will keep Protektor as a separate unit and maintain its brand name. In addition, we will merge our spare parts and niche market businesses into Protektor, thereby doubling the unit's sales and creating synergies", declared Westerberg.



Skanska sells construction operations in Lithuania
(24.07.03) Skanska has sold its construction operations in Lithuania. The sale of Skanska Statyba UAB is a step in Skanska's efforts to focus on selected home markets.
The sale will have a positive impact on Skanska's income. The buyer is Panevezio Keliai AB, a local construction company. The business will continue under the new name Constructus and will be headed by Virgaudas Juocevicius, the former president of Skanska Statyba UAB.

Skanska also intends to pull out of the construction market in Latvia and during spring the it's construction business in Hungary has been closed down.

The divestment comes after the strategic review of the Group that was conducted in autumn 2002 and announced in January, in which Skanska intends to focus on achieving a leading position in selected home markets.



SAS receives prestigious award for new air navigation system
(22.07.03) SAS has received the prestigious Flight Aerospace Industry Award for its pioneering work to develop a new communications and navigation system promising to revolutionize the use of the airspace and increase safety. The award was presented by the British trade publication Flight International during a ceremony in Paris on Monday. SAS shares the award with the Swedish Civil Aviation Administration.
The airspace for civil aviation in Europe is overloaded and the Air Traffic Management system fragmented and inefficient, causing heavy delays and an estimated cost to European airlines in the range of 1-2 billion ECUs annually. SAS alone calculates its costs to 450 million SEK a year, which is equivalent to having one and one half aircraft permanently grounded. Despite a boundless airspace, the aircraft have to follow busy "highways" in the sky in order to maintain a high level of safety.

SAS participates in the development of a system which will make it possible to straighten out the air lanes and thus save time and fuel. It will also improve safety, because the pilots will be able to monitor other traffic within a large area with a high precision level and communicate effectively with ground control and other aircraft.

The system is called ADS-B and was invented by a Swede, Håkan Lans. SAS has been testing the system since 1996 in two of its Fokker F28 aircraft. Also participating in the development work are the Swedish, Danish and German Civil Aviation Administrations and SAS's alliance partner Lufthansa German Airlines.



Feldschlösschen sells bottling plant for DKK 100 million
(17.07.03) Carlsberg Breweries A/S' Swiss subsidiary Feldschlösschen Getränke AG has entered into an agreement to sell its soft drink bottling plant in Eglisau to Thurella AG at a price of DKK 100 million.
Thurella shareholders are expected to approve the acquisition at an extraordinary general meeting on 12 August 2003, and to agree that Thurella takes over the plant including all the 110 employees on 1 January 2004.

Feldschlösschen has decided to sell the bottling plant in order to concentrate on its core businesses - production and sales of beer and mineral water.

Last year the plant in Eglisau filled 133 million bottles of soft drinks including Schweppes and Lipton Ice Tea, which will still be bottled in Eglisau. Feldschlösschen will continue to market these products.



Skanska secures environmental contract in New York
(17.07.03) Skanska has been awarded a contract by New York City Department of Environmental Protection to expand and upgrade the Newtown Creek Water Pollution Control Plant in New York City. The contract is valued at USD 493 million. Skanska accounts for 45 percent of the work, corresponding USD 222 M, or SEK 1,770 M.
The contract is for the Newtown Creek Water Pollution Control Plant in Greenpoint, Brooklyn. The facility has a capacity of about 310 million gallons (1.2 million cubic meters) per day. The project is one of the final phases of a major plant upgrade to fulfill federal requirements to provide secondary treatment of all sewage.

Work will begin in August and is scheduled to be completed in January 2008.

"Skanska USA Civil will lead a consortium responsible for the plant as well as the mechanical installations. The project calls for expanding the plant from 16 treatment areas to 24. This will involve extensive new construction of piping, aeration and sedimentation tanks and a new control building, as well as upgrading of existing plant components. In addition, the new and existing sections must be integrated.



ICA sells 14 distribution centres to London & Regional Properties and GE Real Estate.
(16.07.03) ICA Handlarnas AB is selling 14 of its distribution centres, with an underlying property value of around SEK 2.5 billion, to a consortium comprising London & Regional Properties and GE Real Estate through its subsidiary ICA Fastighets AB. ICA and the consortium, with L&R and GE, have entered into lease agreements with an average duration of eleven years.
"We are selling our distribution centres to release capital that we will invest in new ventures," says Group President of ICA Ahold AB.

"This agreement with ICA again demonstrates how well our skills and our resources in corporate outsourcing are appropriate for expansive operations with high demands on effectiveness. We look forward to a profitable relationship with ICA," says Lennart Sten, CEO of GE Real Estate in the Nordic area.

The 14 distribution centres are located in Arlöv, Helsingborg, Växjö, Kungälv, Partille, Linköping, Västerås, Karlstad, Årsta, Kallhäll, Borlänge, Umeå and Sundsvall. ICA's distribution activities will not be affected by the sale of the properties.



Ericsson awarded USD 500 million contract to expand wireless network
(15.07.03) Ericsson and T-Mobile USA Inc.,today announced an agreement to expand and upgrade the operator's wireless network to support customer growth and demand for GPRS and higher-speed EDGE data networks. The contract extension is valued at USD 500 million.
Ericsson will deploy GSM , GPRS and EDGE 1900 MHz network radio access equipment and associated services in two new markets: Western Virginia and certain uncovered areas of New England, where T-Mobile's footprint is expanding. Additionally, Ericsson will upgrade and expand T-Mobile USA's core network infrastructure, radio access equipment and associated services in 18 markets in which Ericsson equipment is already installed. Those markets include Atlanta, Boston, Miami, New Jersey, Philadelphia and Washington D.C.

"The deployments will enable T-Mobile USA to leverage and augment Ericsson's presence across our national footprint to provide greater capacity in a very cost-effective manner," said Tim Wong, Executive Vice President and CTO, T-Mobile USA. "In addition to positioning us to support our growing subscriber base, Ericsson is helping deliver personalized service offerings that allow us to deliver on our Get More® promise to our customers and ensure they have a consistent, reliable, quality experience."



Saab Ericsson Space delivers frequency converters for Satellites
(15.07.03) Saab Ericsson Space has delivered equipment for Hughes Network Systems' Spaceway, the next generation broadband system via satellite. The system consists of three satellites made by Boeing Satellite Systems and is the first of its kind for extremely high frequencies (Ka-band). The satellites will provide North America with wireless two-way communication for data, Internet and multimedia.
"Delivering equipment for Ka-band payloads is a major milestone for us. Expertise in this frequency band is an important asset for the future. We are grateful that the world's largest satellite manufacturer, Boeing, has displayed this confidence in us", says Bengt Mörtberg, President of Saab Ericsson Space.

Hughes Network Systems, the ordering client and operator, has invested USD 1.8 billion in order to offer broadband network connections to Enterprise users. Companies are offered opportunities for video conferencing, telemedical applications and interactive education, to name a few examples. Capacity utilization can be varied through bandwidth-on-demand, with data download of up to 50 Megabits per second (Mbps) while uploading can be done at 16 Mbps.

The Spaceway satellites have a capacity about 8 times higher than today's satellites, thanks to technology which apart from broadband performance, also entails having a digital 'switchboard' onboard and an antenna that can be adapted to the traffic load and geographical customer distribution at any given moment. The first satellite will be launched early next year from the Pacific Ocean. Spaceway has global access to Ka-band's spectrum, and further expansion of the system is therefore expected if the planned financial success is achieved. .



Sony Ericsson reports strong increase in sales and shipments for GSM and Japanese standards
(15.07.03) Sony and Ericsson today announced the financial summary for the second quarter, ended June 30, 2003 of Sony Ericsson Mobile Communications AB, the 50:50 joint venture of Sony and Ericsson. The company reported improved operating results and a strong increase in sales and shipments for its two core business areas; GSM and Japanese standards.
Units shipped in the quarter reached 6.7 million, which is 34% higher year-on-year and 23% higher compared to the first quarter 2003. Net sales for the quarter were Euro 1.125 million, representing year-on-year and sequential increases of 18% and 40%, respectively.

In the areas of strategic focus and in the wake of successful product launches, the GSM business posted 84% year-on-year growth in shipments and Japanese standards shipments increased 45% year-on-year. This business growth is attributable to a strengthened product offering coupled with strongly improved supply and logistics performance.

Sony Ericsson is expected to be profitable in the second half of 2003 as a result of the increasing momentum in the company's new GSM and Japanese product portfolio. However, Sony Ericsson will not be profitable for the full year 2003 due to restructuring costs and losses incurred in the first half of the year. .



Prospectus ready on merger between Stockholm and Helsinki Stock Exchanges
(03.07.03) On May 20, 2003, OM AB and HEX Plc announced plans to merge. Today, the Board of Directors of OM has approved a prospectus setting forth the terms and conditions of the offer being made to the shareholders and warrant holders of HEX through which the combination between OM and HEX will be effected.
The Prospectus has today been approved as listing particulars by the Finnish Financial Supervision Authority and Stockholmsbörsen is expected to recognize the English language version of the Prospectus on July 4, 2003. OM's shares are listed on Stockholmsbörsen and OM's intention is to seek listing on the Helsinki Exchanges subject to the completion of the Offer to commence as soon as possible after such completion.

The Prospectus will be made public on July 7, 2003 and be distributed to all current shareholders and warrant holders of HEX by mail, with instructions on the procedure to be followed in order to accept the Offer. Furthermore, the Prospectus will be available on the OM's website (www.om.com/merger) in Finnish and in English.



Volvo delivers intelligent transport system to Norway
(03.07.03) Volvo Mobility Systems has together with Norwegian system integrator Mobitech a/s delivered the first Automatic Vehicle Location and Real-time Passenger Information system in Norway. The customer, Tromsö City, uses the system to provide travel information in real time to its passengers, and to monitor and control its city bus operations.
The city of Tromsö operates a bus fleet of around 100 buses. The project includes the integration of 17 buses to the AVL/RTPI system delivered by Volvo, and using the commercially available public GPRS network for data communication. Eventually, the whole fleet of city buses will be linked to the system.

With this delivery, Tromsö has acquired one of the most modern systems on the market. Major functionalities include automatic vehicle location, punctuality monitoring, two-way text messaging, automatic next- stop announcement, destination sign control. Real-time passenger information, such as departure forecasts, is shown to passengers at bus stop displays. Traffic controllers can monitor the actual status of the traffic on user-friendly Windows-based applications at the control center.

The use of GPRS for data communication makes it possible to remotely log vehicles' status and download new timetables and software upgrades into specific vehicles from e.g. the supplier's home base, and thus lowering maintenance costs of such systems.

Tromsö is a Norwegian city located 1600 km north of Oslo and is one of the northern- most cities in the world. It has an annual average temperature of 2,5 C; with midnight sun from 21st May to 23rd July and complete darkness from 25th November to 21st January and affectionately known as "Paris of the North".



Volvo environment prize 2003 targets efforts to alleviate poverty
(03.07.03) The 2003 Volvo Environment Prize is being awarded to two pioneers who placed people and their need in focus. Madhav Gadgil from India and Mohammad Yunus from Bangladesh have each in his respective field created new models for understanding and transforming the relationships between poverty, development and the environment.
Professor Madhav Gadgil is one of the world's leading ecologists and conservationists, a scientist who has conducted pioneering work in integrating research on biodiversity with the needs of people and their communities. He has worked to mitigate the conflicts of interests between man's needs and the requirements of conservation. He was the main contributor to the establishment of India's first biosphere reserve in the Western Ghats. Professor Gadgil is inspired by the firm belief that knowledge about the traditions and experiences of communities is of central importance to scientific research as well as ecological and social planning.

Dr. Mohammad Yunus founded the Grameen Bank in 1983, which in an untraditional way provides small loans to villagers, especially women, who would never qualify for commercial credits. These small loans helped people to set up a small business from which they could earn money and the degree of repayment of these loans is exeptionally high compared with traditional banking. The environmental implications of the Grameen project flow from its impacts on both social capital and women's empowerment, strongly associated with conservation and sustainable natural resource management.

The Volvo Environment Prize was established in 1989 and amounts to SEK 1.5 million that will be divided between the recipients. Through the years the prize has recognized pioneering research on most aspects of sustainable development, which is especially well exemplified by this year's prize.The 2003 prize will be presented by the EU Commissioner for the Environment, Margot Wallström, in a ceremony to be held on October 29, in Brussels, Belgium.



Wireless Internet goes onboard SAS
(03.07.03) TScandinavian Airlines has signed a contract with Connexion by Boeing for the installation of wireless broadband on board. Installation will begin in February 2004 and the entire long-haul fleet will be equipped a year later.
All SAS passengers will be able to connect their portable PCs or PDAs and use Internet online, including streaming audio/video. Those who require to log on to their access to intranets and send/receive e-mail with attachments via the Internet will also be able to do so securely.

The Nordic region is one of the world's most IT-dense areas and the ability to communicate easily from the air was high on our passengers' list of priorities," says Jens Willumsen, who is responsible for Market & Product Management at SAS. "This is why we have been working for a long time to achieve a complete solution that meets our customers' demands."

A host of payment options that will allow passengers to enjoy full access to the Internet. Payment will be by credit card or various forms of subscription. Using a unique SAS portal, travelers will also receive free access to services that facilitate their journey and selected corporate partners will also be able to offer their services.

SAS will be the first airline in the world to invest exclusively in wireless technology (IEEE 802.11-standard) for Internet on board.

"We have long understood the benefits of wireless technology and since it is now making progress, it was an even more natural choice," comments Jens Willumsen. "Scandinavian Airlines was also first in the world to introduce wireless access to its lounges in 1999."



TeliaSonera outsources mainframe computer operations
(25.06.03) TeliaSonera has signed a contract to outsource its mainframe computer operations to Tieto Enator. The 101 employees working with these operations at TeliaSonera Sweden today will be transferred to Tieto Enator. By utilising Tieto Enator´s economies of scale, TeliaSonera Sweden can secure a competitive production cost.
TeliaSonera Sweden is outsourcing its mainframe computer operations (Unisys OS/2200, IBM AS/400, HP Compaq VMS and IBM S/390 mainframes). Other computer operations run by TeliaSonera Sweden´s IT service unit will remain in the company. The outsourcing of mainframe operations will enable TeliaSonera to continue to offer competitive prices to customers in the future.

"To be a cost-effective alternative in the long term, TeliaSonera´s mainframe computer capacity in Sweden must be increased. By outsourcing these operations to Tieto Enator, we gain economies of scale which will enable us to offer services of higher quality, and at attractive prices, to customers," says Ove Alm, head of the Networks and Production unit at TeliaSonera Sweden.

The agreement requires the approval of the Swedish Competition Authority.



Telenor purchases remaining 25 per cent of Comincom-Combellga from minority shareholders.
(24.06.03) Telenor has acquired the remaining shares held by the minority shareholders of Comincom-Combellga. Telenor paid US$120 million for a 75 per cent stake in Comincom-Combellga in 2000. With the purchase of the 25 per cent minority interest, Telenor assumes 100 per cent ownership of the company. Telenor has acquired the shares, held by private individuals and public organisations, for US$ 30 million.
The Russian telecommunications market is experiencing rapid growth, and that is expected to continue in the foreseeable future. Comincom-Combellga provides voice and broadband services to corporate customers and is the third largest operator in Moscow. The company achieved a growth rate of 32 per cent in 2002, which resulted in revenues of US$ 85 million for 2002, EBITDA margin of 34 per cent and net profit margin 15 per cent. The trend is strong and the corresponding expected results for 2003 are revenues of around US$100 million and EBITDA margin of approximately 35 per cent.



Skanska receives Hong Kong order valued at SEK 1.7 billion - of which Skanska accounts for half
(23.06.03) Skanska has received a contract for a highway project in Hong Kong with a total value of SEK 1,7 Billion (HKD 1.7 bn). Skanska accounts for half through its 50-percent-owned business unit Gammon Skanska.
The order is included in order bookings for the second quarter of 2003. The customer is the HKSAR Government of Highways Department.

The contract is for the Northern Section of Deep Bay Link in Hong Kong's New Territories and covers a 4-kilometer section of a six-lane mainline expressway. The construction period is 28 months, with work beginning immediately and scheduled to be completed in October 2005.

The Deep Bay Link will become the fourth road connection between Hong Kong and Shenzhen. The highway will cross over the existing LRT rail line, the Castle Peak Road and the West Rail section that is under construction. The viaducts will be formed using 3,000 precast concrete segments. The construction will also involve extensive piling work to a maximum depth of 70 meters.



Nokia extends contracts with TeliaSonera for pan-Nordic GSM networks
(23.06.03) Pan-Nordic framework will bring new cost-savings and synergies.
Nokia and TeliaSonera have signed extensions to existing framework contracts, laying the groundwork for future supply of Nokia's GSM radio-access infrastructure to TeliaSonera networks in Denmark, Finland, Norway and Sweden. Under the terms of the agreement, Nokia and TeliaSonera will harmonize logistics processes and contractual terms for all TeliaSonera's Nordic affiliates. This will result in cost-savings and synergies for both companies in the future.

In addition, Nokia and TeliaSonera have signed a Letter of Intent to extend their framework agreement to the end of 2005.

The agreement helps TeliaSonera consolidate its operations across all four Nordic countries. By harmonizing its supply agreements with the individual TeliaSonera affiliates, Nokia will achieve significant cost benefits over the next two years as it streamlines its collaboration with TeliaSonera.



Capital from Deutsche Bank strengthens Saxo Bank's growth
(19.06.03) Euro 10m in subordinated loan capital from Deutsche Bank gives Danish Saxo Bank further room to continue their international growth.
"We're growing fast and in order to ensure that we can maintain this growth without having to raise additional share capital, we have secured this subordinated loan. If our growth was simply allowed to continue at the present rate, we could in principle risk having to restrict the number of new clients and partners coming onboard due to the risk that the bank's solvency ratio will fall as a result of the increased trading activity to unacceptable levels" reported Kim Fournais, Saxo Bank's Joint Chief Executive.

Deutsche Bank has placed EUR 10m with Saxo Bank as subordinated capital. As a result, Saxo Bank's combined share capital and subordinated capital has doubled to approximately DKr. 145m and the bank has thereby secured the necessary conditions to sustain the business growth in international investment markets.

"There is no doubting the significance of having Deutsche Bank, one of the principal players in the financial markets, supporting Saxo Bank. Deutsche Bank is one of the world's leading providers of international capital markets products and services, and with the provision of this subordinated loan, we have further cemented our very close and proactive co-operation with Deutsche Bank. So we are most certainly very pleased with the agreement we have entered into." said Kim Fournais.



Skanska sells entire shareholding in kitchen maker Nobia
(18.06.03) Skanska AB today sold all of its shares in Nobia AB, corresponding to 12.5 percent of the number of shares and votes in Nobia, were sold.
Skanska received the shares in Nobia as payment for the shares in Poggenpohl, which was divested at the end of 2000. One fourth of Skanska's shares in Nobia were sold in conjunction with Nobia's listing on the stock exchange in 2002. Accordingly, the sale of the remaining shares in Nobia is a natural step in the sale of non-core assets.

The sale generates an income of SEK 417 million after deduction of selling expenses. The shares were sold to a number of institutional investors in Sweden and internationally. As a result of the sale, Skanska posts a capital gain of about SEK 14 million, which will be reported among "other financial items" in the second quarter 2003.



MTG picks up remaining shares in SDI Media Hong Kong
(18.06.03) The media group Modern Times Group MTG AB, today announced that its SDI Media AB subsidiary has acquired the remaining 40 per cent of the SDI Media operation in Hong Kong. MTG owns 100 per cent of the company, which is the leading subtitling and dubbing company in Asia.
SDI Media is the largest Pan-Asian entertainment localization company, with operations in Hong Kong, Korea, Singapore, Taiwan, Thailand and Tokyo. Its clients in the region include Discovery Asia, Disney, Hallmark, Sony, Star TV and Time Warner.

Hans-Holger Albrecht, President and CEO of MTG, commented: "We are delighted to complete our acquisition of SDI Media Asia. The company has an unparalleled reputation for delivering high quality, innovative localization solutions to its many clients. It has been the unquestioned leader in Asia in developments in these fields, including assisting with the launch of DVD in Asia. This deal further strengthens our position in an exciting region and we will continue to grow SDI's market presence by expanding its services into new markets around the world."



Framfab Denmark wins Hat Trick at Grand Prix in Cannes
(17.06.03) Once again Framfab Denmark has won the Grand Prix at the Cannes Lions advertising festival. This marks a four-year winning streak in Cannes for Framfab Denmark, and the third Grand Prix in four years.
Framfab was nominated in the Cyber category for creative websites and online advertising. This years winning entry was a campaign site for a Dutch football event organised by Nike. The site is still running at http://nikefootball.com/panna .

This is the third Grand Prix for Framfab. The first win was in 2000, the second in 2002 and all three have been awarded for campaigns on nikefootball.com. On top of that, Framfab has previously won to Gold Lions for Nike Freestyle and Nikewomen and a Bronze Lion for Nike Shox.

Framfab Denmark's Creative Director, Lars Bastholm, is of course very proud to once again bring home the coveted award from Cannes. "Our cooperation with Nike continues to bear fruit year after year, which is immensely satisfying. We keep learning more and more all the time, and Framfab has a truly amazing team that time and again is able to take our solutions to the highest possible level. I'm really proud of the team behind the campaign. Last year we were convinced this couldn't go on, but we're incredibly pleased to be proven wrong!" - a very happy Lars Bastholm, Creative Director of Framfab Denmark.



Saab and Airbus sign USD 1 billion agreement
(17.06.03) Saab AB and Airbus have today signed a full business agreement for the Mid and Outer Fixed Leading Edge on the A380 wing. The agreement covers development and production of the fixed leading edge, and Saab is a risk sharing partner in the A380 program. The contract is worth USD 1 billion over the next twenty years.
"We're very pleased to have finalized the contract. It represents a long- term commitment to an aviation program that Saab has great faith in," says Pontus Kallén, the new head of Saab Aerostructures and current head of Saab Commercial Programs.

Saab has cooperated with Airbus since 1997, and has developed and is producing components for the A340 - 500/600 and the A320. Cooperation with respect to the A380 began with concept studies in 1997. Saab is responsible for the development and production of the Mid & Outer Fixed Leading Edge for the wing with support from the Swedish National Debt office in this important industrial effort. The A380 program will be an important foundation project for Saab Aerostructures for many years to come.



Royal Caribbean looks to order new 'Ultra-Voyager' ships
(16.06.03) Miami based Royal Caribbean Cruises Ltd. and Finnish shipbuilder Kvaerner Masa-Yards have signed an agreement that may result in a firm order for up to two new 'Ultra-Voyager' ships.
The new Ultra-Voyager would be roughly 15 per cent larger in space and in passenger capacity that the earlier Voyager-class vessels. It would carry more than 3,600 guests (double-occupancy), 500 more than its predecessors. At just under 160,000 gross tonnes the Ultra-Voyager would provide even more room for passenger facilities and amenities and would provide even greater economies of scale than her predecessors.

Royal Caribbean has four Voyager-class ships in its fleet today. The fifth sistership, Mariner of the Seas, is due for delivery at Kvaerner Masa-Yards Turku yard in October this year.

One key factor affecting whether this agreement leads to a firm contract is how much the current euro-dollar exchange rate improves. Royal Caribbean hopes that circumstances will allow it to finalize the order later this year and that these new berths will enjoy a lower capital and operating cost than earlier Voyager-class ships.

"We are pleased that Royal Caribbean continues to place its faith in Kvaerner Masa-Yards and hope that conditions will allow us to proceed with our mutual plans. We will work hard to improve our cost efficiency even further, without compromising our high quality standards," said Jorma Eloranta, president and chief executive officer of Kvaerner Masa-Yards Inc. .


HÅG received the prize of honour
(06.06.03) On Thursday June 5 HÅG, manufacturer of office chairs with an innovative design, received the environmental foundation GRIP's prize of honour for its path-breaking work for environmentally friendly design of many years.
The Minister of Local Government and Environmental Services, Erna Solberg, presented the prestigious award at an event hosting more than three hundred participants from the Norwegian trade and industry, research and public administration. Three former Ministers of Environment, Thorbjørn Berntsen, Siri Bjerke, Guro Fjellanger and former Prime Minister Kåre Willock attended the event. The prize is distributed every year to companies that have distinguished themselves in the environmental field.

The HÅG chairs are to a large extent manufactured from recycled materials, among other car bumpers from Volvo, ketchup bottles, bottle caps and household waste. HÅG's CEO, Lars I. Røiri, says that the prize of honour inspires to take environmental friendly design to the next level. HÅG is now developing sitting solutions that demand even less use of energy - and resources. A strong and dedicated focus on environment contributes to an essential degree to HÅG's brand. The concentration on the environment has been a long-term dedication and permeates the entire company. HÅG's most important markets are Scandinavia, Germany, USA and the Netherlands.


Larger Swedish surplus than expected in May
(06.06.03) The Swedish central government cash flow resulted in a surplus of SEK 11.5 billion kronor in May, which is 3.8 billion higher than projected in The Debt Office's latest forecast.
The primary surplus (all government payments except interest payments) requirement was SEK 21.7 billion kronor, which is 5.5 billion larger than expected. The main reason was smaller disbursements by state agencies and smaller payments to the EU. Tax payments were also larger than predicted. In addition the central government net lending was larger than predicted.

The central government interest payments worked in the opposite direction by being SEK 1.6 billion larger than expected. The Debt Office will come back with a revision of the full year forecast for 2003, June 18, when Central Government Borrowing 2003:2 is published.

For the twelve-month period ending May 30, the borrowing requirement amounted to SEK 32.8 billion. The central government debt amounted to SEK 1,199 billion at the end of May 2003.



Nokia's MMS solution enables pan-Nordic multimedia messaging launch
(04.06.03) Nokia is supplying a centralized MMS system for TeliaSonera's networks in Denmark, Finland, Norway and Sweden, enhancing its multimedia messaging service by employing a single MMS system across the four Nordic countries. The centralized system supplied by Nokia replaces different MMS solutions previously implemented in the individual countries.
TeliaSonera has already implemented the Nokia MMS Center for its Finnish affiliate. Now by employing the same MMSC also for its Danish, Swedish and Norwegian MMS customers, these will benefit from increased synergies and cost-savings.

"We have been extremely pleased with the robust and reliable service we have enjoyed with Nokia's MMS solution in Finland," says Harri Koponen, Deputy CEO, TeliaSonera. "Now we are happy to be extending this same state-of-the-art service to our customers in all the Nordic markets. By consolidating all of our multimedia messaging - across four countries -- into a single Nokia MMS Center, we will greatly streamline our service offering and operational costs, while providing a uniform level of MMS service for the entire Nordic region."

"This is an excellent example of the capabilities of our MMS solution," says Olli Oittinen, Vice President, IP Mobility Networks, Nokia Networks. "Originally implemented to serve a single network, the Nokia MMSC can be easily scaled to meet increased capacity while providing the same high-level of service across several networks in different countries."



AerotechTelub receives order from Sweden's Defence Materiel Administration
(28.05.03) AerotechTelub has received an order worth MSEK 28 from the Swedish Defence Materiel Administration for reconstruction of the Missile System 77. The contract includes modification and commissioning of the target illuminating radar and gun mounting for the system. Following modification, the system will be renamed the Missile System 97 (RBS 97).
"AerotechTelub has been working on this missile system for many years, and has performed similar assignments on the system before. We therefore have extensive environment and system knowledge, and we're very pleased that the customer clearly appreciates this," says Peter Axelsson, Business Unit Manager at AerotechTelub.

RBS 97 has its origins in an American air defense system called HAWK. Since it came to Sweden in the 1960s, the system has been adapted to Swedish conditions and has been continuously developed.


Aerial Photography Turns Over a New Leaf
(28.05.03) Novo and FM-Kartta Oy have agreed to enter into co-operation in the provision of aerial photography services. These services, based on the soon-to-be-established nation-wide image database, will cater for the needs of agriculture and forestry, environmental administration, land use services and ordinary citizens.
Under the agreement, FM-Kartta will be responsible for the production of digital orthoimages in Finland, while Novo will take charge of the web services based on these images. An orthoimage is a photographic representation of the terrain in orthogonal projection, which can be used for planning applications when taken together with other GIS-related information. Thanks to continuous updating of the image database, customers will easily and cost-effectively utilise real-time photos.

'The use of aerial photos for various planning and surveying purposes has increased dramatically. In many respects, they are actually about to replace maps. Moreover, it is possible to use the photos with the help of even quite lightweight systems, leading quickly to a wider user base and the obvious need for distributing the images over the Internet', states Kyösti Laamanen, FM-Kartta Oy's Managing Director.


Statement from Kaupthing Bank
(27.05.03) Regarding the investigation on behalf of Ekobrottsmyndigheten in Sweden into six individuals´ alleged illegal insider trading in connection with the purchase of shares in the Swedish bank JP Nordiska last summer, Kaupthing Bank hf, wishes to make the following statement:
This investigation is not directed at Kaupthing Bank hf. or at trading in shares in Kaupthing Bank hf. This is an investigation led by the Swedish police authorities into trading with shares in JP Nordiska which were registered on Stockholmsbörsen.

-"Insider-trading is serious and we wholeheartedly welcome the efforts of the authorities in several countries to take initiatives against insider-trading, thereby strenghtening trust in financial markets. Kaupthing Bank will assist authorities in collecting data on behalf of the Swedish authorities as is the normal procedure in these matters", says Hreidar Már Sigurdsson.

Reykjavik, 27 May 2003
Hreidar Már Sigurdsson, CEO of Kaupthing Bank
.


TietoEnator and Austria Card deliver EMV solution to Unibanka
(27.05.03) TietoEnator and Austria Card have completed an EMV smart card migration project with Unibanka, a SEB Group bank in Latvia. As a result, Unibanka has started to issue EMV standard Visa credit and debit cards in the end of April 2003.
Tieto Enator provided the software solution to handle the complete cycle of payment card processing from card issuing to electronic payment operations via internet and mobile communications, and Austrian smart card producer Austria Card supplied the high end chip cards.

"Traditionally, we have been the leaders of Latvian electronic business with the largest amount of issued cards, most extensive point-of-sales terminal network, as well as the electronic transaction volume. Having our customer transaction conveniency and security in mind, our aim is not only to issue smart cards but also to establish the infrastructure for smart card usage," says Ainars Ozols, Vice President, Unibanka.

Max Paul, Marketing Director of Austria Card adds: "As smart card competence centre, our goal is to accompany our customers in more than 25 countries during the EMV migration to handle the project realisation and provide them with high level products according to the newest technology standards. The combination with products and services such as provided by TietoEnator has proven as a successful strategy for the EMV market."


NCC to build apartments in Oslo in partnering project worth SEK 185 million
(27.05.03) NCC Construction AS has concluded its first partnering agreement in Norway. The assignment is for the construction of 120 apartments at Kingos Gate in Oslo. The client is Viken Bolig and the order is worth about SEK 185 million (NOK 160 million).
The apartments will be modern, functional and cost effective, with considerable scope for adaptation to the specific requirements of purchasers. Construction will commence around the end of this year and the project is scheduled for completion during autumn 2005.

The project will be implemented by NCC, Viken Bolig, Andersson Arkitekter, Spenncon and Elektrisk in the form of a partnering arrangement.

NCC in Norway is assigning high priority to partnering, a structured form of cooperation based on open books, with the aim of creating a better and more cost-effective construction process. The experiences gained from NCC's partnering activities in Denmark and Sweden show that partnering results in fewer disputes and a more efficient construction process, while reducing costs and improving the quality of construction operations.

"It is gratifying that we can now launch our first partnering project, just a few months after work on establishing this work method in Norway was initiated," says Tommy Helgerud, Regional Manager at NCC Construction AS.


EmbryoGlue. A better chance of having an often long awaited child
(26.05.03) Vitrolife launches EmbryoGlue - a breakthrough in assisted reproductive technology
EmbryoGlue is an implantation promoting medium for transfer of embryos back into the woman, with physical properties more similar to the uterine secretion, and will therefore assist the embryo during the implantation process. In a prospective, randomized, clinical trial, the efficacy of EmbryoGlue was evaluated in comparison to a conventional medium. The study showed a statistically significant increase in implantation rate in the EmbryoGlue group, compared to the control group. This increase represents an improvement of treatment efficacy of 34%.

By using EmbryoGlue®, IVF clinics will have a new possibility to improve IVF treatment outcome by increasing the implantation rate, i.e. the chance of an embryo implanting in the uterus and developing into a pregnancy.s.

-I am very happy that we now have this tool available, says Professor Lars Hamberger, Sahlgrenska University Hospital Gothenburg and board member of Vitrolife. -We can now give the patients a better chance of having their often long awaited child, and it also gives us a good possibility to reduce the risks of multiple pregnancies.

Vitrolife's CEO, Dr. Magnus Nilsson. -Globally there are approximately 500 000 IVF treatments performed every year, and we plan to have EmbryoGlue clinically available in the beginning of June. With this highly innovative product we now have a great possibility to redefine the IVF market to the benefit of both patients and clinics.


HUAL and Japanese Cido in tonnage swap
(23.05.03) Norwegian car carrier operator HUAL, a subsidiary of Leif Höegh & Co ASA, and Japan's Cido Shipping have entered into a tonnage swap agreement
HUAL will take two 6,100 capacity PCTC newbuildings on long-term timecharter from Cido, whereas Cido will take two 1988-built PCTCs on long-term timecharter from HUAL. The swap will become effective during 2004 upon delivery of the newbuildings currently under construction at Toyohashi Shipbuilding.

HUAL today operates a fleet of 25 owned and about 20 chartered car carriers in its trades world wide, whereas Cido over the past 15 years has built up a position as a major supplier of tonnage to car carrier operators in Korea, Japan and Europe. The company's current car carrier fleet numbers 34ships, in addition to a 12-ship-newbuilding-programme which includes several PCTCs.

In February this year HUAL took Cido's Toyohashi-built newbuilding HUAL OCEANIA on long-term timecharter upon delivery from the yard in a deal that did not involve any swap of tonnage. However, further discussions between the two parties have shown mutual benefits in the agreement just inked: HUAL will get two high-specification, state-of-the-industry new ships, which fit in very well with HUAL's existing fleet. Cido for its part gets two slightly smaller and less expensive ships, which are very well suited for the cargo composition and markets they will serve. .



Ericsson awarded Ethernet DSL contract with China Telecom Zheijang
(23.05.03) Ericsson announced on Wednesday a contract with Ningbo Telecom, part of China Telecom Zhejiang. This is the third order placed by China Telecom to deploy Ericsson's ultra-compact, highly scalable Ethernet DSL Access solution, which features the world's smallest DSL Access Multiplexer.
This is the largest deployment to date of Ericsson's Ethernet Digital Subscriber Line Access solution. As part of an IP MAN (Metro Area Network) deployment in Ningbo city, Ethernet DSL Access will help Ningbo Telecom to develop their broadband access networks in a more flexible way by providing very cost-effective high-bandwidth links in the 'second mile' network.

Ningbo is a fast developing city in Zhejiang, one of China's wealthiest provinces. The large city will at completion hold the largest Ethernet DSL Access lines implemented, further strengthening Ericsson's position in broadband access market in China. Implementation will begin this month.

"We are pleased that Ningbo Telecom has selected our Ethernet-based DSL access solution," said Ove Anebygd, Head of Broadband Access at Ericsson. "Our solution is highly scalable, making it suitable from small to large sites, like in Ningbo city, enabling always-on broadband access for up to thousands of subscribers."

Ericsson has previously announced 2 other Ethernet DSL Access solution contracts with China Telecom in the Jiangxi and Anhui provinces. .



Pricer chosen supplier for strategically important pilot by Carrefour
(22.05.03) Pricer AB has been chosen by the French retail group Carrefour S.A. to equip the Carrefour hypermarket Saint Herblain of Nantes with approximately 45 000 Electronic Shelf Labels (ESL). The store will be equipped with Pricer ESL products customised to display information for customers and employees. Installation is planned for July.
"The pilot gives us an opportunity to demonstrate to Carrefour the full capability of our solution, as well as our ability to follow the company throughout its global operations. Being chosen by Carrefour, one of the largest retail companies in the world, represents a very important step in Pricer's penetration of the French market, as well as it reinforces our position as the number one ESL supplier worldwide." says Jan Forssjö, president and CEO of Pricer AB.

Carrefour is one of the leading global retail groups with more than 5 600 stores in over 25 countries.



Getinge has acquired 100% of the shares of Jostra AG
(22.05.03) Getinge has signed an agreement to acquire 100% of the shares of Jostra AG. Jostra is a leading manufacturer of equipment and disposables for open-heart surgery. With this move Getinge continues its intended expansion of the business area Surgical Systems. The acquisition is conditional on the approval by German competition authorities and does not include Jostra's US activities.
The existing activities of Surgical Systems as a global leader in advanced surgical work-stations for all surgical disciplines will now be complemented with a leading range of therapy products for cardiac surgery.

Jostra had sales of around EUR 90 million in 2002 and employs 600 persons Jostra was founded in 1982. The company had sales of around EUR 90 million in 2002 and has 600 associates.



Time for a Swedish Postal revamping again.
(21.05.03) Swedish Posten (the Postal Services) is revamping its terminal network in 2003-2005 to contend with continuing meaningful declines in mail volume and to improve its financial situation.
In 2003-2005 Posten is revamping its terminal network to contend with continuing meaningful declines in mail volume and to improve its financial situation.
The letter terminal in Norrköping and the parcel terminal in Växjö will be phased out as part of the move.
A series of renewal expenditures and replacement investments will be made and still maintain high levels of service without a negative impact on customers.

"Mail volume has steadily declined since the mid-1990s. Today, the mail terminals are beset by overcapacity. Against the backdrop of Posten's current financial situation, coupled with expectations of a continuing drop in mail volume, action must be taken to control costs," says Bertil Nilsson, head of Posten Production.



Trelleborg go shopping in Korea
(21.05.03) Trelleborg concludes agreement to acquire vehicle component company in South Korea
The Trelleborg group has concluded its agreement to acquire 51 percent of the automotive component company Kunhwa Co Ltd. in South Korea.

Kunhwa has annual sales of approximately EUR 25 M, with 218 employees and a production unit in Daegu in South Korea. Kunhwa's operations focus on AVS (antivibration systems) and thermoplastic vehicle boots. The deal represents a strategic strengthening of areas in which Trelleborg Automotive already today holds a world-leading position.

Trelleborg Automotive, is a global supplier of antivibration products to the light vehicle industry.



The Finnish Engineering Award 2003 went to Fortum
(21.05.03) The developers of Fortum's NExOCTANE production process received this year's Finnish Engineering Award. The award winning technology is used to produce iso-octane, a first class gasoline component.
The technology, awarded by The Finnish Association of Graduate Engineers TEK and the Tekniska Föreningen i Finland TFIF, is used to convert MTBE-plants for iso-octane production. The iso plant in Edmonton, Canada has already been converted to produce the clean fuels component for the California, USA market.

The award is granted annually to a person or a task force who has considerably advanced the technical know-how in Finland. The Fortum task force comprised: Prof. Juhani Aittamaa and Prof. Outi Krause of the Helsinki University of Technology; Lic. in Tech. Antti Pyhälahti, Mr Juhani Rintala, MSc(Eng) and Mr Juha Jakkula, MSc(Eng) of Fortum/Neste Engineering.

The recipients of the award have developed a technique that enables the economical conversion of MTBE production plants to produce iso-octane. The project has had several partners, such as TEKES - the National Technology Agency of Finland, in charge of external financing, and the Helsinki University of Technology. .

ÅF Group negotiates with Siemens for strategic partnership
(06.03.03) The ÅF Group is in the final stages of negotiations with Siemens-Elema, a Siemens Group company, to take over the company's Stockholm-based strategic development operations within the field of mammography.
Under the terms of the agreement the ÅF Group would support Siemens Medical Solutions by taking over a large portion of the development work being carried out within digital mammography. One of the motives behind the current negotiations is the restructuring of Siemens Medical Solutions' operations in Sweden.

The agreement would give the ÅF Group a large initial order value with good future potential and an important new reference in this sphere of product development.

An agreement will involve the transfer of some twenty Siemens employees to the ÅF Group.



TV1000 launched in Russia
(06.03.03) Modern Times Group MTG AB, the international media group, today announced the launch of premium pay-TV channel TV1000 in Russia, the Baltics and the Western CIS states of Moldavia, Belorussia and Georgia.
At the time of launch, TV1000 already reaches 100,000 homes in Russia and the Western states, and 150,000 homes in the three Baltic states of Estonia, Latvia and Lithuania. The channel is being distributed via national and local cable networks in each country, including major cities such as Moscow and St Petersburg. TV1000 is paid a fee per subscriber by the cable network operators for the inclusion of the channel in pay-TV packages. TV1000 continues to be available in the premium tier of Viasat's Direct to Home platform in the Baltic States..

Hans-Holger Albrecht, President and CEO of MTG, commented: "This further demonstrates our belief in the huge potential of the high growth markets in Eastern Europe. TV1000 will build on its very strong brand in the Nordic territories to deliver a mix of premium local and international movie content to television viewers in these new territories, and we aim to extend the channel's penetration further".


Swedish Postal Service turns out deep red year-end results
(06.03.03) "Posten's business environment is changing, as evidenced by the dwindling mail and cashier-transaction volumes. This situation is reflected in our weak results. I believe that Posten must now look to the future. Profitability, therefore, must be strengthened in order for the company to continue to grow. It must, in addition to streamlining its administrative function and phasing out unprofitable business areas and projects, target its core business and robust ventures." says Claes Ånstrand, Posten's chairman
"Cashier service is legislatively mandated. Posten is meeting this mandate. But with demand cut in half, the cashier service operation must become economically viable. The board has therefore sanctioned measures aimed at achieving a break-even position by 2005." The nonsubsidized segment of the Cashier Service operation is currently generating major losses. A cost-cutting regime aimed at achieving a break-even position by 2005 will be launched this year.

Börge Österholm, President and CEO, said: "In the spring we will review our business operations to identify areas demonstrating profitability potential. Efforts will also be made to cut development and administrative costs. Furthermore, we will continue efforts aimed at minimize illness absenteeism. Cutbacks already planned within the framework for the E25 program will go ahead. Further staff cuts may be necessary. The board's decision to action measures in the cashier service operation entail that we review the number of offices, pricing and service range."

Net earnings for the year were SEK-788m and Cash flow before financing activities was SEK-1746m



Ericsson wins GSM/GPRS order from Sri Lanka
(05.03.03) Ericsson has been awarded an order from Mobitel, Sri Lanka as sole supplier for migration of their network from TDMA to GSM 1800 based cellular mobile services and introduction of GPRS.
The GSM/GPRS 1800 network will be rolled out in three phases, with initial installations scheduled to begin in the second quarter of 2003. When completed, Mobitel will be able to provide Island wide coverage and to offer prepaid services, MMS and roaming from day one to its subscribers.

"Mobitel's goal is to give our valued customers a cost effective seamless island wide coverage," said Lalith De Silva, Chief Executive Officer of Mobitel. "The people of Sri Lanka will for the first time experience a GSM mobile network, whose core values are under pinned by unrivalled customer care coupled with crystal clear clarity, as well as all the other extra value added services that Mobitel provides its customers. We will also benefit from the positive working relationship with Ericsson, which has spanned the last six years."

"Mobitel's continuing confidence in Ericsson's leading technology and our unparalleled position in deploying GSM and GPRS networks is very gratifying," said Bimal Dayal, Managing Director, Ericsson Sri Lanka. "We are honored to have been chosen by Mobitel for this very prestigious contract." .



New International Children's Literary Award announcement for 2003
(27.01.03) The first prizewinner of The Astrid Lindgren Memorial Award for Literature will be announced on 18 March 2003, in Vimmerby, Astrid Lindgren's home town in southern Sweden. H.R.H. Crown Princess Victoria will present the award in Stockholm on 4 June 2003, at a prize-giving ceremony open to the public. The award was founded by the Swedish Government in 2002 and the prize money totals SEK 5 million (approx. USD 553 000).
Astrid Lindgren, Swedish author and creator of the much loved characters Pippi Longstocking, Emil, The Brothers Lionheart and Karlson On The Roof, has an ever growing impact on literature for children and young adults both in Sweden and worldwide. The annual award aims to increase global interest in literature for children and young adults. Throughout her life, Astrid Lindgren was committed to children's rights and always spoke out on their behalf. Seen in this light, the award also aims to promote children's rights at a global level, in keeping with Astrid Lindgren's humanistic beliefs.

The Astrid Lindgren Memorial Award for Literature will be awarded to authors "who in their writing have produced literature for children and young adults of absolutely the highest artistic quality and in the humanistic spirit associated with Astrid Lindgren". Promoters of reading among children and young adults as well as illustrators may also be nominated. The award may be granted to one or more recipients, but may not be awarded posthumously.ercial applications, but still have a presence in the pleasure boat market."

Twelve Swedish researchers, authors, illustrators, librarians and literary critics have been appointed to nominate and select the winners. One member of the jury represents Astrid Lindgren's family. Due to lack of time, the prize committee has been entrusted to nominate prizewinners this year. In the future, however, a number of relevant organisations around the world will be invited to submit nominations..



Boliden and Hexagon to form joint Nordic brass company
(27.01.03) Boliden and Hexagon have entered into an agreement to form a joint venture between Boliden Gusum AB and Nordic Brass AB. The new company will be owned in equal parts by Boliden and Hexagon. The merger will create a strong Nordic brass company with improved competitive strength and profitability. The annual turnover of the new company is estimated at 500 MSEK.
The European brass market, characterised by over-capacity and weak profitability, is now facing a far-reaching structural change. With the new company, Boliden and Hexagon will take an active part in the necessary consolidation of the European brass market. The new company will also create the right conditions to meet increased customer demand for a wider product range, flexibility and service.

"The merger of the two companies is a way of meeting growing global competition. The re-structuring of the North American brass industry started several years ago. In the southern and central parts of Europe the brass companies, although still many in numbers, are much bigger than their Nordic competitors. A new company creates a platform for a long-term profitable Nordic player", said Ola Rollén, Hexagon's CEO.

"The deal is logical from an industrial point of view and it will create many synergies. We have now started the necessary re-structuring of the European brass industry and we see a considerable potential for Boliden's brass operations by taking an active part of this process", said Jan Johansson, Boliden's CEO.



Nokian tyres launches a new studded cartyre
(26.01.03) Nokian Tyres launches a new studded car winter tyre, Nokian Hakkapeliitta 4 for the Nordic and Russian markets. Its consumer sales will start during the spring 2003. In the tyre development, the main focus has been on tyre's grip properties and environmental issues.

The good grip of Nokian Hakkapeliitta 4 is based on several creative innovations, such as a new stud model and construction solution improving stability. The stud technology is called Nokian Eco Stud System 4 with a patent pending.

The grip properties have been improved by using special rape-seed oil in the tread compound mix. In addition to the rape-seed oil, only low aromatic oils are being used in the tread compound mix..



Yanmar exhibits Scania engine for the first time
(20.01.03) The first result of the co-operation between Scania Industrial and Marine Engines and Yanmar marine will be shown at the Düsseldorf boat show in Germany. On display is a 12-litre marine engine for pleasure boats with 720 hp.
In October 2002, Scania and Yanmar signed an agreement that gives Yanmar exclusive rights to sell and market Scania marine engines to the pleasure boat market all over the world.

The roll out for Yanmar's marketing of Scania engines is at the pleasure boat show Boot 2003 in Düsseldorf, Germany. On display is a 720-hp engine in Yanmar's white livery and with the Yanmar logotype, based on the Scania 12-litre unit.

"Scania's objective with the co-operation is to increase the volumes of engines for pleasure boats in a few years' time," says Lennart Hjelte, Senior Vice President and responsible for Scania Industrial and Marine Engines. "The co-operation also means that we can concentrate on the marketing of engines for marine commercial applications, but still have a presence in the pleasure boat market."

Over time, Yanmar will sell marine engines based on all sizes of Scania engines. The first deliveries are expected in the third quarter of 2003.



Ericsson Canada renews supply agreement with Rogers AT&T Wireless for 3 years
(16.01.03) Ericsson and Rogers AT&T Wireless, Canada's leading wireless provider, have renewed their agreement under which Ericsson will supply network equipment for Rogers AT&T Wireless's roll out of superior wireless voice and data services coast-to-coast.
Building on its commitment to provide high quality services to its customers, Rogers AT&T Wireless has signed a contract with Ericsson Canada to continue to supply the leading-edge GSM and TDMA network infrastructure that enables Rogers AT&T Wireless to provide its customers with superior coverage and services.

The deal includes the rollout of a nationwide 850MHz GSM/GPRS capability that will provide Rogers AT&T Wireless customers across Canada with the capacity, coverage and data rates they expect from Canada's leading wireless provider. Ericsson's global service and technical expertise will ensure rapid and effective network deployment

"Ericsson has consistently delivered high-quality, innovative network equipment for Rogers AT&T Wireless and our customers across the country," said Bob Berner, Executive Vice President and Chief Technology Officer of Rogers AT&T Wireless. "This extension of our existing agreement with Ericsson will enable Rogers AT&T Wireless to maintain our technology leadership and superior network quality and will ensure that we remain best-positioned to provide our customers with leading-edge products and services in the future."

"We are extremely pleased to extend our long-standing relationship with Rogers AT&T Wireless," said Rolfe Philip, VP & GM, Rogers Account Group, Ericsson Canada Inc. "Together, our two companies deployed North America's first commercial digital wireless network and, more recently, delivered the world's fastest and largest deployment of an integrated GSM/GPRS network. This agreement will enable Rogers AT&T Wireless to maintain its position as the premier wireless operator in Canada."



Swedish daily financial newspaper, Finans Vision to cease operations.
(15.01.03) Modern Times Group MTG AB, today announced that it has contacted the Journalists' Union with regard to the proposed closure of its Swedish daily financial newspaper, Finans Vision.
MTG set a number of milestones for Finans Vision to be measured against when it was launched in March 2002, in terms of readership and advertising sales growth. The newspaper has not achieved these milestones and management therefore proposes to close down the business. Closure would result in MTG making a full provision of in the region of SEK 85 million in the financial results for the fourth quarter of 2002, to include all costs arising from the closure of the newspaper.

The Publishing business area, of which Finans Vision and its predecessor Finanstidningen have been the major part, has incurred operating losses of approximately SEK 100 million during 2002.

Hans-Holger Albrecht, President and Chief Executive Officer of MTG, commented: "We have consistently made it clear that we work to strict benchmarks. If milestones are not reached, then we take action, as is the case with Finans Vision. It is disappointing to have to close down any operation but the newspaper has not performed according to our expectations."



Nokian tyres and Matador to start contract manufacturing
(14.01.03) Nokian Tyres plc and Matador AS have today signed a contract manufacturing agreement. According to the agreement Matador will manufacture Nokian branded speed categories S, T and H car summer tyres at its factory in Slovakia. The tyres will be sold to the East European markets and will be part of the total Nokian product range.
Through contract manufacturing Nokian Tyres ensures its growth potential in East Europe, where tyre markets are rapidly growing. Production capacity at Nokian Finland factory will be freed to produce ultra high performance tyres.

First tyres will be sold during the first quarter of the year 2003. It is the target that Matador will manufacture 100.000 Nokian branded tyres in 2003 and increase the volume to 300.000 tyres during 2004- 2005.

The agreement is valid until the end of the year 2005 and after that on a one-year basis.



TietoEnator modernises payment cards service of Lithuanian bank
(13.01.03) TietoEnator has entered into a contract with Ukio Bankas (Lithuania) on the implementation of a new generation payment cards solution and development of the bank's service system. This software solution will enable the bank to smoothly pass on to new technologies and to start issuing EMV smart cards.
Transmaster is a software tool developed by TietoEnator Financial Solutions SIA for the complete cycle of payment card processing starting from card issuing to electronic payment operations via internet and mobile communications. More than 35 banks and financial institutions in 10 countries are operating Transmaster system.

"We have decided to purchase this software, because in the future Ukio Bankas is planning to issue and acquire the most reliable and secure smart cards. The system offered by TietoEnator Financial Solutions completely satisfies the needs of the bank", says Lina Balciunaite, Head of Payment Cards Department at Ukio Bankas.

"Transmaster software will provide the cardholders of Ûkio bankas with new possibilities of card usage. The new technologies enable the bank customers to manage their assets more effectively, to choose the currency of the payment card account, to activate consumer credit by using payment card, etc.", ads Maris Ozolins, Managing Director of TietoEnator Financial Solutions SIA.



Ericsson and Hutchison 3G sign global agreement for new Video Gateway System
(10.01.03) Ericsson and Hutchison Whampoa Limited have signed a global agreement for Ericsson's new Video Gateway System, a unique end-to-end solution supporting video telephony between personal computers and 3G mobile videophones for Hutchison 3G markets worldwide.
For end users, video telephony is one of the most interesting and exciting distinguishing features of emerging 3G mobile networks. Consumer surveys consistently indicate strong interest and demand for these premium services. Now with the Video Gateway System solution, live video telephony communication between users of fixed-line and 3G mobile multimedia networks is made possible. Ericsson and Hutchison have been working closely together on Video Gateway System and are currently testing the service in Italy, the UK and Hong Kong.

Hutchison's Group Managing Director Canning Fok commented, "We are writing a new chapter of the digital revolution. Like the Internet and mobile telephony before it, 3G will change the way people lead their lives. With our 3 videophones and the new Video Gateway System, you will be able to make video calls with your friends all over the world, even in those countries without 3G services. The Video Gateway System will help to enhance both the usefulness and enjoyment that we espouse in our 3 services."

"We are delighted to conclude this global agreement with Hutchison. It is further evidence of our close global relationship as a major vendor of innovative 3G solutions to Hutchison," said Kinson Loo, Vice President & Head of Global Customer Unit Hutchison at Ericsson. "We are proud to be playing such an important part in the success of Hutchison's dynamic and promising 3G brand '3' around the world."



SKF acquires US linear motion company
(10.01.03) SKF has acquired Twentieth Century Machine Co., TCM, a US manufacturer of ground ball screws. The acquisition was effective December 31, 2002.
TCM has 70 employees and sales in 2002 were 65 MSEK. TCM, is located in the Detroit area in Michigan, USA and serves primarily the machine tool market in USA and Canada. SKF will now be able to offer complete ground ball screw packages and solutions locally made in North America.

- TCM will become part of and strengthen the SKF Linear Motion & Precision Technologies business unit, says Christer Gyberg, President of SKF Industrial Division. - In addition to design and manufacturing expertise, TCM also offers multi-brand ball screw repair, which enhances our recently launched full- service capabilities.

With this acquisition, SKF expands the number of ball-screw manufacturing facilities to four: Turin, Italy; Chambery, France; Beaufort, France; and Detroit in the United States. The acquisition reflects the SKF Group's strategy to grow through acquisitions and expand businesses with higher value added.



Norwegian Smedvig to build new tender rig in Southeast Asia
(09.01.03) Smedvig has entered into an agreement with Malaysia Shipyard and Engineering Sdn Bnd in South Malaysia for the purpose of building a new self erecting tender rig. The new unit is scheduled for delivery in the first quarter 2004, and capital expenditure is estimated to approximately US$ 67 million, including the derrick equipment set.
The tender rig will be based on a new design developed by Smedvig, with enhanced drilling capabilities allowing for parallel activities, which will significantly increase drilling efficiency. The new unit will be particularly well suited for production drilling in shallow and deepwater areas in Southeast Asia.

"This investment reinforces our position as the leading tender rig operator and will expand our activities in one of the fastest growing energy markets in the world", says CEO Kjell E Jacobsen in Smedvig.

Smedvig asa is an offshore drilling contractor headquartered in Stavanger, Norway.



Carlsberg Breweries sells off Rent a Cooler Denmark
(08.01.03) Carlsberg Breweries A/S has sold the company Rent a Cooler Denmark A/S to Eden Springs Ltd., which is the European leader within marketing of still water in plastic dispensers for offices. The sale is part of Carlsberg Breweries' strategy to concentrate on its core business - the production and sale of beer and own soft drinks.
Rent a Cooler Denmark has 32 employees and a turnover of approx. DKK 30 million. The company supplies still water in plastic dispensers and drinking fountain bottles primarily to companies all over Denmark. Delivery takes place in co-operation with e.g. the wholesaler of Cafax coffee.



Norwegian power plants sold at a profit of nearly NOK 1 billion
(03.01.03) Norske Skog completed today the divestment of 13 power plants to Akershus Kraft AS and Buskerud Kraftproduksjon for NOK 1.3 billion. Net profit on the divestment is approximately NOK 1 billion before tax, and about NOK 500 million after tax. The sale will be posted in Q1 this year.
Akershus Kraft AS has acquired three power plants in the Halden waterway and Buskerud Kraftproduksjon has bought ten power plants in the Drammen and Skien waterways and in Nord-Trøndelag. The 13 power plants have a combined annual normal production of approximately 700GWh.



Norwegian power plants sold at a profit of nearly NOK 1 billion
(03.01.03) Norske Skog completed today the divestment of 13 power plants to Akershus Kraft AS and Buskerud Kraftproduksjon for NOK 1.3 billion. Net profit on the divestment is approximately NOK 1 billion before tax, and about NOK 500 million after tax. The sale will be posted in Q1 this year.
Akershus Kraft AS has acquired three power plants in the Halden waterway and Buskerud Kraftproduksjon has bought ten power plants in the Drammen and Skien waterways and in Nord-Trøndelag. The 13 power plants have a combined annual normal production of approximately 700GWh.