As part of the strategic realignment of its international activities, Gruner + Jahr has sold its Russian operations to Axel Springer AG.
Acquisition of the G+J Russia portfolio
Metso Corporations exchange offer for Tamfelt Corp.s shares and stock options commenced on November 23, 2009 at 9:00 a.m. (Finnish time). By now, shareholders, whose aggregated ownership in Tamfelt Corp. is 51.66 per cent, have undertaken to accept Metsos exchange offer.
Metso has concluded the employee negotiations regarding their unit in Valkeakoski and the Jämsänkoski Service Point belonging to it, in Finland, on November 23, 2009. As a result of the negotiation process initiated on September 30, 2009 a total of 11 persons in regular employment will be reduced, some of whom will be covered with pension arrangements. The reductions will be concluded by autumn 2010. The reduction notice applied to 17 people.
Hadera Paper Ltd. (AMEX:AIP) (the “Company” or “Hadera Paper”) announced today that its board of directors has resolved to elect Ofer Bloch as its chief executive officer. Mr. Bloch will replace the current CEO, Mr. Avi Brener, who has recently announced his retirement.
Acquisition Expected To Be Completed Today
Presstek, Inc. (NASDAQ: PRST), a leading manufacturer and marketer of digital offset printing business solutions, today announced it has entered into a definitive agreement to sell its wholly owned subsidiary, Lasertel, Inc. to SELEX Sensors and Airborne Systems (US), Inc. (“SELEX S&AS”), a business development, marketing and U.S. product support arm of SELEX Galileo. SELEX Galileo is part of Finmeccanica’s defense electronics business unit.
