UPM, the world’s largest producer of graphic papers, has pledged its support to the National Association of Paper Merchants (NAPM) Two Sides Initiative.
Metso sells its composites manufacturing business and related assets in Oulu, Finland to xperion Oy as of December 31, 2008. The divestment is not material to Metso and the company books a small profit from the sale.
Finnish company Powerflute is taking over Papierfabrik Scheufelen in Lenningen with effect from 1 January 2009. The investor will assume control of all business operations and a 500- strong workforce. All the conditions of the purchase agreement dated 3 October 2008 have been met.
Deutsche Bank has acquired 2,753.301 shares in Axel Springer AG on December 15, 2008 and now holds in total a participation of approx. 8.4 percent in the company.
AbitibiBowater announced today that it has received notification from the New York Stock Exchange (“NYSE”) that the Company has fallen below its continued listing criteria. The average closing price of its common stock was less than $1.00 over a consecutive 30-day trading period.
Wintershall Norwegen Explorations- und Produktions-GmbH (“Wintershall”), a wholly owned subsidiary of Wintershall Holding AG, today (18 December 2008) effected a compulsory acquisition (“squeeze out”) of the shares in Revus Energy ASA (“Revus”) not already held by Wintershall in accordance with section 6-22(3) of the Norwegian Securities Trading Act cf. section 4-25 of the Norwegian Public Limited Companies Act.
Eastman Kodak Company (NYSE:EK) today announced that Hector de J. Ruiz, PhD., has decided not to stand for re-election to its Board of Directors in 2009 because of time and travel commitments associated with his new position as chairman of The Foundry Company.
