S.Korea Himart plans to raise about $500 mln in IPO

July 30, 2010 By Leave a Comment

SEOUL, July 29 (Reuters) – Himart, South Korea’s biggest
electronics retailer, plans to raise about 600 billion won
($506.3 million) in a 2011 initial public offering, a Himart
official said.

Himart has chosen Daewoo Securities to manage the IPO, the
proceeds of which are likely to be used to pay off debts owed by
its parent firm Eugene Corp (023410.KQ), the official, who
declined to be named because of the sensitivity of the issue,
said.

Himart, founded in 1987, operates 281 stores in the country.
In its 2009 financial year the company had a a net loss of 37.2
billion won.

Eugene Corp has an 80 percent stake in Himart. Himart CEO Sun
Jong-koo has a 19 percent shareholding, a March regulatory filing
showed.

For a factbox on South Korea’s IPO market, click on
[ID:nTOE62U02Z]

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , ,

Royal Wessanen nv: Wessanen reports improved underlying operating profit and EPS

July 30, 2010 By Leave a Comment

Q2 2010 highlights

*

Revenue steady at EUR 193.7 million, in line with last year’s second quarter

*

Operating result (EBIT) improved to EUR 9.4 million (Q2 2009: EUR (4.8) million)

*

Net result of EUR 6.6 million; Earnings per share (EPS) of EUR 0.08

*

Wessanen Europe revenue EUR 131.0 million (0.6% autonomous growth)

*

Piet Hein Merckens took over as CEO on 1 June

*

Strategic initiatives (e.g. brand harmonisation and centralised sourcing) are on
schedule

*

For second half 2010, Wessanen expects its operating result to be around break-even

HUG#1434676

Download hier het Nederlandse persbericht (PDF, 200kB)

http://hugin.info/143317/R/1434676/380234.pdf

Download the full press release including the semi-annual financial report (English
version, 197kB) http://hugin.info/143317/R/1434676/380233.pdf

Filed Under: International News Tagged With: , , , , , , , , , , , , , , ,

Nutreco: Excellent results for the first half of 2010: Strong increase in operating result (EBITA) to EUR 84 million

July 30, 2010 By Leave a Comment

EUR 2,250.5 million; an increase of 5.8% compared with the first half of
2009

* Strong increase in volume of Fish feed and Premix and feed specialties

* All business segments report better operating results compared with the first half of
2009

* 2010 interim dividend of EUR 0.50 in cash or shares

* For the full year 2010, Nutreco expects an increase of approximately 25% in EBITA
before exceptional items compared with 2009 (EUR 175.2 million)

Key figures
(EUR x million)
H1 2010 H1 2009 Change
Revenue from ‘continuing operations’ 2,250.5 2,127.7 5.8%
Operating result before exceptional items and amortisation (EBITA) 84.0 41.6 101.9%
Operating result from ‘continuing operations’ before amortisation (EBITA) 74.1 38.5 92.5%
Profit after tax from ‘continuing operations’ 40.4 13.7 194.9%
Basic earnings per share from ‘continuing operations’ (EUR) 1.13 0.36 213.9%
Interim dividend per ordinary share (EUR) 0.50 0.20 150.0%

150.0%

Wout Dekker, CEO Nutreco:

“We have had excellent first six months. The results are better than in the same period
last year for all business segments. These results, the recovery of the markets and our
good financial situation give us confidence for the future. We are also very pleased
with the composition and quality of our results. For the second half of the year, we
expect results in line with the very strong second half of 2009. For the full year this
will lead to an increase of approximately 25% in EBITA before exceptional items.”

All business segments report better operating results
“Our premix and feed specialties operations have very good results, with a growth in
volume and an improved product mix. Fish feed operations show strong growth in Norway
and we experience a recovery in the Chilean aquaculture sector. Our compound feed
operations in Europe reported business results in line with the trend of the last
quarters of 2009. The results in The Netherlands improved substantially compared with
the first half of 2009. In Spain the acquisition of Cargill’s compound feed operations
contributed to revenues. The integration and optimisation of factories is progressing
well. Our meat operations had good results, slightly better than in the first half of
2009.”

Focus on strengthening global position in Fish feed and Premix and feed specialties
“The recent acquisition of a fish and shrimp feed business in Vietnam is in line with
our strategy to further strengthen our position in feed for amongst others shrimp,
tilapia, barramundi, snapper and grouper, in countries of strategic importance. After
China and India, Vietnam is the world’s largest aquaculture producer. For Nutreco, the
acquisition is a good entry into the Vietnamese market and a basis for further growth.
Next to this acquisition Nutreco is investing in renewing and expanding its production
capacity. In March we announced the investment of EUR 20 million in upgrading and
expanding the fish feed factory in Australia. The investment will enable Skretting to
meet the growing demand for high-quality fish feed for salmon, trout, barramundi and
tuna in both Australia and New Zealand. Since 2001, the volume for fish feed in this
region has grown by 10% annually.
In April, Nutreco announced a EUR 6 million investment in upgrading and expanding the
production capacity of Selko, a producer of additives for animal nutrition. This
investment will enable Selko to meet the globally growing demand for alternatives to
antibiotics and for products that can contribute to controlling the development of
salmonella in animal nutrition, raw materials for animal nutrition and drinking water.

Nutreco remains focused on growth by innovations and we continue to execute our strategy
to further strengthen our global market position in Premix and feed specialties and Fish
feed by means of organic growth and acquisitions.”

Outlook

Barring unforeseen circumstances, Nutreco expects EBITA before exceptional items in the
second half of the year to be in line with the very strong second half of 2009 (EUR
133.6 million). For the full year 2010 this will result in an increase of approximately
25% in EBITA before exceptional items compared with 2009 (EUR 175.2 million).

Strategy

Nutreco will continue to focus on growth in animal nutrition and fish feed by means of:

* Focusing on geographical regions and markets with prospects for structural profitable
growth in countries such as Brazil, China, Russia and Vietnam;
* Participating in consolidation in countries where Nutreco has a leading position in
compound feed, such as Canada/North America, the Netherlands and Spain;
* Further strengthen our global market position in Premix and feed specialties and Fish
feed through independent growth and acquisitions;
* Implementing Nutreco’s innovation strategy.

Nutreco will publish a trading update on the third quarter of 2010 on 28 October 2010.

* * * * *

Nutreco

Nutreco is a global leader in animal nutrition and fish feed. Our advanced feed
solutions are at the origin of food for millions of consumers worldwide. Quality,
innovation and sustainability are guiding principles, embedded in the Nutreco culture
from research and raw material procurement to products and services for agriculture and
aquaculture. Experience across 100 years brings Nutreco a rich heritage of knowledge and
experience for building its future. Nutreco employs approximately 9,700 people in 30
countries, with sales in 80 countries. Nutreco is listed on the NYSE Euronext stock
exchange in Amsterdam and with annual revenues of EUR 4.5 billion in 2009.

www.nutreco.com http://www.nutreco.com/

For more information:

Jurgen Pullens, Director Investor Relations and Corporate Communications, Nutreco
Telephone: +31 (0)33 422 6134
Mobile: +31 (0)6 5159 9483
E-mail: jurgen.pullens@nutreco.com mailto:jurgen.pullens@nutreco.com

The full press release is attached in the pdf below

HUG#1434661

Excellent results for the first half of 2010

http://hugin.info/133565/R/1434661/380210.pdf

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Audi CEO says positively surprised by H1

July 28, 2010 By Leave a Comment

(Reuters) – Volkswagen’s (VOWG_p.DE) premium car maker Audi (NSUG.DE) expects sales this year to be significantly above 1 million units, the unit’s head said on Tuesday.

“We are positively surprised by how we’ve started in 2010,” Audi Chief Executive Rupert Stadler said late on Monday in remarks set for release on Tuesday.

“We will also have a good second half of the year,” he said, adding that he would give a more precise sales forecast with Audi’s first-half report on Friday.

Filed Under: International News Tagged With: , , , , , , , , , , ,

Audi CEO says positively surprised by H1

July 28, 2010 By Leave a Comment

July 27 (Reuters) – Volkswagen’s (VOWG_p.DE) premium car maker Audi (NSUG.DE) expects sales this year to be significantly above 1 million units, the unit’s head said on Tuesday.

“We are positively surprised by how we’ve started in 2010,” Audi Chief Executive Rupert Stadler said late on Monday in remarks set for release on Tuesday.

“We will also have a good second half of the year,” he said, adding that he would give a more precise sales forecast with Audi’s first-half report on Friday.

Filed Under: International News Tagged With: , , , , , , , , , , , ,

BP’s Hayward to be offered role at TNK-BP: report

July 28, 2010 By Leave a Comment

(Reuters) – BP Plc Chief Executive Tony Hayward is to be nominated for a board position at its Russian venture TNK-BP when he steps down from his current role, Sky News reported, citing sources.

TNK-BP declined to comment on the Sky News report on Monday when contacted by Reuters.

BP is expected to install American Bob Dudley as CEO, sources close to the company said, replacing Hayward who has come under fire for his gaffe-prone handling of the worst oil spill in U.S. history.

Dudley, the U.S. executive managing the response operation to the spill in the Gulf of Mexico, is poised to get the top job in the next 24 hours, a move that could soften U.S. criticism of the British oil major.

Shares in BP closed up 4.6 percent at 417 pence, valuing the business at about 80 billion pounds ($123.6 billion).

(Reporting by Rhys Jones; Additional reporting by Vladimir Soldatkin; Editing by David Holmes)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

BP says no plans to issue statement on CEO

July 28, 2010 By Leave a Comment

(Reuters) – BP said it had no plans to issue a statement about a board meeting on Monday which sources close to the company said discussed whether to confirm a plan to ditch Chief Executive Tony Hayward.

BP’s board was due to confirm a plan to replace Hayward with Bob Dudley, who is currently heading BP’s oil spill response, sources close to the company said.

BP is due to issue its second quarter results on Tuesday at 0600 GMT/2 a.m. EDT.

(Reporting by Tom Bergin, Editing by Sandra Maler)

Filed Under: International News Tagged With: , , , , , , , , , , , , ,

BP to discuss CEO Hayward’s exit on Monday -sources

July 26, 2010 By Leave a Comment

July 25 (Reuters) – BP Plc’s (BP.N) board will discuss the future of Chief Executive Tony Hayward when it meets on Monday to discuss the Gulf of Mexico oil spill and the firm’s second-quarter results, sources familiar with the matter said.

They said the focus will be on the timing of Hayward’s departure, rather than whether or not he would stay with the company.

“The details are being worked out,” one source said. (Reporting by Tom Bergin, editing by James Davey; editing by Karen Foster)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , ,

USG People NV: 2010 Second quarter and half-year results USG People N.V.

July 24, 2010 By Leave a Comment

Return to growth, EBITA rises

Almere, 23 July 2010, 07:00 CET

Key points of second quarter 2010

· Revenue was € 747 million and was 3% higher than the second quarter
last year
· The gross margin of 22.0% remained virtually stable with respect to the
previous quarters (Q1 2010: 22.1%, Q4 2009: 22.1%, Q3 2009: 21.9%);
in the second quarter of last year the gross margin was 22.6%
· The operating expenses amounted to € 139 million and remained stable
at the same level of the 1st quarter (€ 137 million); the costs were 4%
lower than in the second quarter of last year
· The underlying EBITA came to € 19 million compared with € 12 million
for the second quarter of 2009 (underlying EBITA Q1 2010: € 8 million)

Key figures

Underlying results* Q2 Q2 change 1st Half year 1st Half year change
(in € millions) 2010 2009 2010 2009
Revenue 747 722 3% 1,431 1,477 -3%
Gross result 164 163 1% 317 341 -7%
Operating expenses 139 145 -4% 275 304 -10%
EBITDA 25 18 39% 42 37 14%
EBITA 19 12 58% 29 23 26%
Net income 4 2 -1 0

* Underlying results are results excluding the one-off effects specified on page 13.

“Our revenue grew once again in the second quarter,” said Rob Zandbergen, CEO of USG
People. “This after 7 quarters of decline in revenue. The recovery gathered strength and
we saw extremely strong growth in a few countries. The early cyclical general activities
are growing faster than the late cyclical specialist and administrative activities.
Since we once again succeeded in keeping our operational expenses virtually the same,
the operational leverage worked well in the second quarter. Higher revenue translated
into a substantially higher result. The EBITA more than doubled compared to the previous
quarter. In the late cyclical Dutch market, the recovery lagged somewhat behind, as
expected. Revenue in the Netherlands improved slightly compared to the previous quarter
and indications from the field were increasingly positive. We are confident that the
recovery in the Netherlands will also be more visible in the results in the third
quarter.

The merging of labels in the Netherlands, Spain and Germany announced earlier is going
according to plan and will be completed in the third quarter. Assuming further
improvement in our markets, we are now excellently positioned to profit optimally from
the market recovery.”

The full press release can be found in the enclosed PDF.

HUG#1433631

2010 Second quarter and half-year results USG People N.V.

http://hugin.info/130803/R/1433631/379431.pdf

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Americans Don`t Expect a Return to Pre-recession Spending Levels, Lifestyles Until Mid-2013, According to AlixPartners Survey

July 20, 2010 By Leave a Comment

Seven in 10 Feel the Same or Worse Economically Than a Year Ago
NEW YORK–(Business Wire)–
On average, Americans don`t expect their quality of life, including their
spending levels, to return to pre-recession levels until mid-2013, according to
the findings of a survey released today by AlixPartners LLP, the global
business-advisory firm. The poll also finds that seven in 10 Americans today
feel the same or worse about their personal economic situations than a year ago,
during the depths of the recession, and that 83% expect to spend the same or
less on non-essential purchases over the next 12 months, illustrating an ongoing
frugality that`s hampering prospects for a consumer-driven economic recovery.
The survey was conducted recently as a reprise of similar AlixPartners surveys
in 2009 — one in February and another in November.

According to the poll, Americans are also decidedly less optimistic about a
quick recovery in the economy at large than they were in 2009, another factor in
restrained spending. The majority of respondents, or 63%, now say that an
economic recovery won`t take place until 2012 or later, versus the 46% who felt
that way in November and 40% who picked that year or later in early 2009. The
proportion of Americans who now believe that a recovery will take place this
year or next: just 5% and 12%, respectively.

“When we polled Americans last November, they expected their personal spending
levels and lifestyles to be back to pre-recession levels by, on average,
November of 2012, but now they`re saying not till August of 2013,” said Fred
Crawford, CEO of AlixPartners. “Obviously, despite some modest movement forward
in the economy, individual Americans remain greatly concerned about their
personal economic situations. In the past, AlixPartners has talked about how
this could translate into a `new normal` environment for businesses of all types
that rely upon the American consumer: lower plateaus of consumer spending for
years to come, maybe for the foreseeable future. Today, it looks like this new
normal is already happening.”

Americans continue to say that their two top concerns are their own personal
debt levels and possible job loss. Some 20% of respondents in latest survey cite
the elimination of personal debt as their top concern, versus 13% who cite
potential job loss. The seven-percentage-point gap between the two top concerns
has widened since November, when 18% cited personal debt and 14% said job loss.

“The gap between the top two consumer concerns was just two percentage points in
February 2009, possibly illustrating some stabilization on the employment front
over the past 15 months,” said Crawford. “However, given the length of time that
most expect it will take before they see a personal economic recovery and the
urgency on the personal debt front, consumer spending likely will continue to
languish for some time.”

About the study

The AlixPartners survey was conducted May 24-26 among 1,000 U.S. adults. It was
a reprise of key questions asked in February 2009 and November 2009, in which
Americans said that, post-recession, they plan to save significantly more of
their total income and cut back on discretionary spending.

Americans were asked to provide feedback on current economic environment,
describe current spending patterns, and estimate how their saving/spending
habits will change post-recession.

The respondent group was representative of the U.S population across all key
demographics.

About AlixPartners

AlixPartners LLP is a global business-advisory firm offering comprehensive
services to improve corporate performance, execute corporate turnarounds, and
provide litigation consulting and forensic accounting services. The firm has
more than 900 professionals in 14 offices across North America, Europe and Asia.
The firm can be found on the Web at www.alixpartners.com.

AlixPartners LLP
Tim Yost, +1-248-204-8689
+1-248-227-1694 (m)
tyost@alixpartners.com

Copyright Business Wire 2010

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Abu Dhabi Islamic sees double-digit growth in H2 – CEO

July 19, 2010 By Leave a Comment

July 18 (Reuters) – UAE lender Abu Dhabi Islamic Bank ADIB.AD expects to report “double digit” profit growth in the second half of the year, its chief executive said on Sunday.

“Our plan is to continue to show double digit growth for the rest of the year,” Chief Executive Tirad Mahmoud told Reuters.

The bank, the second largest Islamic lender in the UAE, posted a 56 percent rise in second-quarter profit earlier in the day as provisions fell. [ID:nLDE6650AH] (Reporting by Stanley Carvalho, Editing by Andrew Callus)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , ,

Koc Holding aims for 20 pct profit rise -paper

July 16, 2010 By Leave a Comment

July 15 (Reuters) – Leading Turkish conglomerate Koc Holding (KCHOL.IS) targets an increase of 18 percent in its turnover and 20 percent in its operating profit this year, Dunya newspaper reported the group’s CEO Turgay Durak as saying.

Durak was quoted as telling a group magazine that the group would continue to focus on energy, automotive, consumer durables and financial sectors and would invest 2.2 billion lira ($1.42 billion) this year. ($1=1.545 Turkish Lira) (Editing by Hans Peters)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , ,

Saab: Invitation to Press and Analyst Meeting

July 14, 2010 By Leave a Comment

Presentation of half-year report 2010
STOCKHOLM–(Business Wire)–
Defence and security company Saab is pleased to invite press and financial
analysts to a press and analyst meeting where CEO Åke Svensson together with CFO
Lars Granlöf will present the Saab half-year report 2010.

Friday, 23 July, 10.00 am C.E.T World Trade Center Conference Center, 4th floor
Entrance: Klarabergsviadukten 70 or Kungsbron 1

The report is published at 7.30 am C.E.T the same day.

Live webcast

If you are unable to attend in person, please visit
http://www.saabgroup.com/en/InvestorRelations where a live webcast of the
presentation will be available together with the presentation material. All
viewers will be able to post questions to the presenters. The webcast will also
be available at Saab`s website afterwards.

R.S.V.P

This information was brought to you by Cision http://www.cisionwire.com

Annika Widell
E-mail: annika.widell@saabgroup.com
Fax: +46 8 463 01 52
Tel: +46 8 436 01 47

Copyright Business Wire 2010

Filed Under: International News Tagged With: , , , , , , , , , , , , , ,

RPT-SAfrica’s Village seeks gold mine to generate cash -paper

July 14, 2010 By Leave a Comment

July 13 (Reuters) – South African junior miner Village Main Reef Gold Mining (VILJ.J) plans to buy a gold mine within the next year to generate cash for its other venture, Business Day on Tuesday quoted the chief executive as saying.

Village earlier this year bought a controlling interest in the Lesego Platinum exploration project, for which it plans to complete a bankable feasibility study within three years.

In the meantime, the company plans to buy a mine to avoid pitfalls suffered by other junior miners reliant on one asset only.

“Our first strategic objective is to buy a cash-generative asset,” CEO Bernard Swanepoel was quoted as saying. (Reporting by Agnieszka Flak, Editing by Himani Sarkar)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Dannemora Mineral AB: Dannemora Mineral appoints Yvonne Gille as head of Human Resources and Information

July 14, 2010 By Leave a Comment

DANNEMORA MINERAL APPOINTS YVONNE GILLE AS HEAD OF HUMAN RESOURCES AND INFORMATION

Dannemora Mineral has appointed Yvonne Gille as Head of Human Resources and Information.
Yvonne Gille joins the Company from her position as head of department at the Social
Democratic Party. Yvonne has a distinguished track record in both human resources and
communication, with experience from the European Parliament, trade union organisations
and the specialist and daily press.

Staffan Bennerdt CEO and President of Dannemora Mineral: “We are delighted that Yvonne
is joining us. Her experience in these areas will be of particular value to Dannemora.”

There will be a transition period during which Yvonne Gille will start her work for
Dannemora Mineral and complete her previous assignments.

The Press Release can be downloaded from the link below:

HUG#1431177

Filed Under: International News Tagged With: , , , , , , , , ,

Airline SAS eyes meeting 2011 profit goal -report

July 14, 2010 By Leave a Comment

July 13 (Reuters) – Loss-making airline SAS (SAS.ST) hopes that cost cuts combined with rising revenues will lead to it meeting its target of becoming profitable in 2011, the company’s CEO was quoted on Tuesday as saying.

SAS, half owned by the governments of Sweden, Norway and Denmark, has pushed through several cost cutting plans.

This year it also raised 5 billion crowns ($665 million) via a rights issue.

Chief executive Mats Jansson was quoted by newspaper Dagens Nyheter as saying that a recovery in the market was coming through and expected underlying growth in the airline market of 4 to 5 percent over the next four years.

“The cost cut programme is having a clear effect and, together with higher revenues, SAS can reach its goal of making a profit in 2011,” he added.

He said he was convinced the airline would survive the global crisis and added that intercontinental traffic was rising. He also saw the first signs of a return of business and leisure travellers to long distance destinations. (Reporting by Patrick Lannin; Editing by Mike Nesbit) ($1=7.519 Swedish Crowns)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Moelven Industrier: Moelven earns 141 million in second quarter

July 13, 2010 By Leave a Comment

Moelven earned NOK 141 million from operations in the year’s second quarter, which is
NOK 117 million more than last year for the same period.

The main reasons for the improved results are better operating conditions, the effect of
cost-cutting measures and higher prices for finished goods in the Timber and Wood
divisions.

Higher operating revenues
Operating revenues for the Group in the second quarter totalled NOK NOK 1 937 million (1
772). For the first six months of the year, operating revenues totalled NOK 3 414
million (3 228), while operating profit ended at NOK 164 million (minus 66).

President and CEO Hans Rindal of Moelven Industrier ASA says that the background for
the positive results are higher prices for sawn wood and increasing demand for the
Group’s products and services in the second quarter as a result of the normal seasonal
upswing in business activity.

– The second quarter has been a good period for us, which is at it should be because
construction activity usually increases during the summer months. The Building Systems
division, which is normally the last division to experience the cyclical increase in
demand, also seems to have passed through the low point in the cycle and orders reserves
are once again rising. We are far from the top, however, and I think it will take some
time before we are back to that level. In terms of capacity and costs, the Group is well
adapted to the current market situation, which is a good starting point for growth in
activity, even though the growth may be moderate, says Rindal.

Secure financing
The Group signed a long-awaited refinancing agreement in the second quarter and has
thereby secured financing for the coming five-year period.

– With the financing in order, we can now concentrate on developing the industry even
further. As a step in this process, the Moelven family has gained three new members:
Sør-Tre Bruk AS, Granvin Bruk AS and Eco Timber AS. All of these companies will become
business units in the building product division, Wood, and enhance the division’s
geographical reach and range of products and services. The objective is for the
builders’ merchant sector to experience Moelven as an even better supplier, says Rindal.

Even with the refinancing process behind us and a solid profit in the second quarter,
the CEO is still focused on developing the business as it is today, not based on
additional acquisitions.

– We have reserve capacity in many areas that we intend to make use of as soon as it is
needed. In any event, the financial markets are still not stable and politicians in many
countries need to work hard to balance public budgets. These factors will likely affect
the construction industry for a long time to come and is something we cannot ignore,
says Rindal.

Bottom likely reached in 2010
Overall business activity in the construction market is expected to reach bottom in
2010; however, there are major differences in development between various regions and
sectors.

The rehabilitation and additions market has been the most stable, and new-build
construction seems to be increasing faster than the construction of new commercial and
industrial buildings. Deliveries of building materials through chains of builders’
merchants are expected to vary as always according to season, with continuing high
activity in the third quarter and a downturn toward the end of the year.

Order reserves in the Building Systems division are on the rise, with the best market
developments taking place for the modular building businesses.

Prices in the European market for sawn wood have increased the first six months of the
year and market conditions are expected to remain good in the third quarter.

The Board of Moelven expects the annual result for 2010 to be significantly higher than
the previous year.

For more information:
President and CEO Hans Rindal, cell phone: +47 90 69 69 10
Director of Finances Morten Sveiverud, cell phone: +47 90 98 06 67
Assistant director of finance Rune F. Andersen, cell phone: 913 43 260

HUG#1430779

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Vena Upgrades 1,000,000 Tonnes to Measured Resources at Azulcocha

July 10, 2010 By Leave a Comment

TORONTO, ONTARIO, Jul 09 (MARKET WIRE) —
Vena Resources Inc. (TSX: VEM)(LIMA: VEM)(FRANKFURT: V1R)(OTCBB: VNARF),
a Company with strong partnerships with four of the world’s largest
mining companies, is pleased to announce that Henkle and Associates has
completed the resource estimate for Vena’s Azulcocha mine. The updated
estimate significantly upgrades the tonnage available for production in
the near term. Henkle’s report will be published within 45 days and will
include a resource estimate for the Manganese mineralized portions of the
Azulcocha Cuerpo as well.

In February 2008, Vena reported an “indicated resource” of 865,132 tonnes
containing 10% Zinc at a cut-off of 5%. Based on the ongoing underground
work that has been undertaken since 2008, Vena can now report that it has
upgraded more than 900,000 tonnes to a “measured resource” category as
well as additional indicated and inferred tonnage as the following table
outlines:

—————————————————————————-

% Cut-Off Measured % Zinc % Mn Indicated % Zinc % Mn Inferred % Zinc % Mn
—————————————————————————-
5.00 902,457 8.40 11.60 771,941 7.90 9.90 320,310 8.10 6.00
4.00 1,023,094 7.90 11.70 978,808 7.20 12.10 424,832 7.30 10.80
3.00 1,381,083 6.70 12.80 1,299,343 6.20 12.90 570,292 6.30 12.50
2.50 1,417,811 6.60 12.80 1,358,573 6.10 12.70 627,780 6.00 12.60
—————————————————————————-

Juan Vegarra, Chairman and CEO of Vena commented:

“We are pleased to report more than 900,000 tonnes of measured resources
as well as a significant upside in the indicated/inferred category. We
are confident that the final NI 43-101 report will contain significant
credits in the Manganese mineralized portions of the Cuerpo to make
Azulcocha a viable mine given current market prices.”

This report was prepared by William R. Henkle, Jr., P.Geo., Vena’s
Qualified Person as defined by NI 43-101.

About Vena Resources

Vena Resources Inc. is a Canadian mining company focused on the
exploration and development of Peru’s mineral potential. Employing a
model of diversification across metals and regions in Peru to mitigate
investment risk, the Company consists of four divisions: Mining, Clean
Energy, Precious Metals and Base Metals. Together with the Company’s
strategic partners, Cameco, Gold Fields, Glencore and Trafigura, Vena
will advance its significant portfolio of almost 75,000 hectares this
year. Through its board of directors and advisors, Vena Resources
possesses a unique quality of skills and experience in management, mining
and finance globally.

Statements in this press release regarding the Company’s business which
are not historical facts are “forward-looking statements” that involve
risks and uncertainties, such as estimates and statements that describe
the Company’s future plans, objectives or goals, including words to the
effect that the Company or management expects a stated condition or
result to occur. Since forward-looking statements address future events
and conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ materially from
those currently anticipated in such statements.

Shares Outstanding: 88,429,910

Fully-Diluted: 103,253,944

The TSX does not accept the responsibility for the adequacy or accuracy
of this release.

Contacts:
Vena Resources Inc.
Juan Vegarra
Chairman & CEO
(416) 364-7739, ext. 120
jvegarra@venaresources.com

Vena Resources Inc.
Andres Tinajero
Chief Financial Officer
(416) 361-2838
atinajero@venaresources.com
www.venaresources.com

Copyright 2010, Market Wire, All rights reserved.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , ,

S.Africa’s Reunert appoints new CEO

July 2, 2010 By Leave a Comment

July 1 (Reuters) – South African electrical engineering and defence electronics firm Reunert (RLOJ.J) said on Thursday it appointed the head of Parmalat (PLT.MI)’s local unit as its next chief executive officer.

Nick Wentzel will take over Reunert starting August 1, the company said in a statment.

(Reporting by David Dolan)

Filed Under: International News Tagged With: , , , , , , , , , , , ,

Biogen Idec ernennt George Scangos zum CEO

July 2, 2010 By Leave a Comment

Exelixis-CEO und ehemaliger Vorsitzender der Biotechnologiesparte von Bayer
bringt starke wissenschaftliche Kompetenz und weitreichende Erfahrung in der
Biotech- und Pharmabranche mit
WESTON, Massachusetts–(Business Wire)–
Biogen Idec (NASDAQ : BIIB), ein führendes globales Biotech-Unternehmen, das
sich auf die Erforschung, Entwicklung, Herstellung und Kommerzialisierung
innovativer Arzneimittel spezialisiert, gab heute bekannt, dass George A.
Scangos, Ph.D., mit Wirkung vom 15. Juli zum CEO (Chief Executive Officer)
ernannt wurde. Dr. Scangos wird außerdem in den Vorstand berufen.

Dr. Scangos, 62, kann auf nahezu 25 Jahre Erfahrung in der Biotech- und
Pharmabranche zurückblicken. Zu Biogen Idec kommt er von Exelixis, Inc., wo er
seit 1996 als Präsident und CEO tätig war. Unter Dr. Scangos Führung hat
Exelixis eine Pipeline von 14 klinischen Wirkstoffen aufgebaut und
weiterentwickelt und zahlreiche strategische Partnerschaften aufgenommen. Davor
arbeitete Dr. Scangos 10 Jahre für die Bayer Corporation. Er kam als
wissenschaftlicher Mitarbeiter zu dem Konzern, stieg zum Senior Vice President
der Forschungs- und Entwicklungsabteilung auf und hatte zuletzt die Rolle des
Präsidenten von Bayer Biotechnology inne, wo er für Forschung,
Geschäftsentwicklung, Verfahrensentwicklung, Produktion, technische Konzeption
und Qualitätssicherung der Bioprodukte von Bayer verantwortlich war. Bevor er
sich Bayer im Jahr 1987 anschloss, war Dr. Scangos sechs Jahre lang als
Biologieprofessor an der Johns Hopkins University tätig.

„Die Ernennung von George Scangos ist der Höhepunkt eines umfassenden
Auswahlverfahrens, mit dem der Vorstand die beste Führungspersönlichkeit
aussuchte, die Biogen Idec auf die nächste Stufe bringen wird”, sagte William D.
Young, der Vorsitzende von Biogen Idec. „Der Vorstand ist einhellig der Meinung,
dass Scangos ideal zu Biogen Idec passt. Die Wissenschaft bildet das Herzstück
unseres Geschäfts und er verfügt über einen hervorragenden wissenschaftlichen
Hintergrund sowie über bedeutende Betriebskompetenz und eine starke
Erfolgsbilanz als Führungskraft. Wir heißen ihn bei Biogen Idec willkommen und
freuen uns darauf, in den kommenden Jahren mit ihm zusammenzuarbeiten.”

Dr. Scangos erklärte: „Ich bin hocherfreut, mich Biogen Idec anzuschließen,
einem der erstrangigen Biotechunternehmen der Welt. Biogen Idec ist ein
außergewöhnliches Unternehmen mit drei hochgradig erfolgreichen Medikamenten und
einer tiefen Entwicklungspipeline sowie hervorragendem Personal, ausgezeichnetem
Cashflow und erstklassiger Kompetenz in der Produktion biologischer Wirkstoffe.
Ich freue mich darauf, an die vielen Stärken des Unternehmens anzuknüpfen und
mit seinem Vorstand und seinen Mitarbeitern zusammenzuarbeiten, um die
Lebensqualität der Patienten zu verbessern und die Wertentwicklung für die
Aktionäre anzukurbeln.”

Dr. Scangos fuhr fort: „Während ich mich auf meinen ersten Tag im Amt
vorbereite, werden einige Prioritäten für das Unternehmen deutlich. Wir haben
bedeutende Gelegenheiten für die Ausweitung unseres kommerziellen Geschäfts,
indem wir die Vermarktung von AVONEX, TYSABRI und RITUXAN vorantreiben, unsere
Organisation und den Markt auf die mögliche Einführung fünf wichtiger neuer
Produkte über einen Dreijahreszeitraum vorbereiten und unsere bestehenden
Partnerschaften ausbauen sowie neue Allianzen eingehen. Ein weiterer
Fokusbereich ist die Weiterentwicklung unserer vielversprechenden Pipeline, wozu
auch die Einstellung eines engagierten und talentierten neuen Leiters der
Forschungs- und Entwicklungsabteilung gehört. Darüber hinaus habe ich vor, ein
Gefühl der Dringlichkeit in alle Aspekte des Geschäfts einzubringen, um zu
gewährleisten, dass wir auf dem höchsten Niveau arbeiten und unsere
Wachstumschancen nutzen. Wir haben viel vor uns und ich kann es kaum erwarten,
anzufangen.”

Dr. Scangos diente seit 2005 als nicht-exekutiver Vorsitzender von Anadys
Pharmaceuticals, Inc. und war seit 2003 ein Direktor des Unternehmens. Dr.
Scangos ist außerdem Vorsitzender des California Healthcare Institute (CHI),
Vorstandmitglied der Global Alliance for TB Drug Development und Direktor von
Foundation Sante und BayBio. Darüber hinaus gehört er dem Board of Visitors der
San Francisco School of Pharmacy der Universität von Kalifornien und dem
National Board of Visitors der Davis School of Medicine der Universität von
Kalifornien an. Dr. Scangos war Jane Coffin Childs Post-Doctoral Fellow an der
Yale University und Fakultätsmitglied an der Johns Hopkins University. Derzeit
ist er ein apl. Professor für Biologie an der Johns Hopkins University. Dr.
Scangos schloss ein B.A.-Studium in Biologie an der Cornell Universität ab und
promovierte in Mikrobiologie an der Universität von Massachusetts.

Telefonkonferenz und Webcast

Biogen Idec wird heute um 16.45 Uhr Eastern Time eine Telefonkonferenz mit
Webcast abhalten. Bitte besuchen Sie die Investorenrubrik auf Biogen Idecs
Website (investor.biogenidec.com), um den Live-Webcast mitzuverfolgen. Im
Anschluss an den Webcast wird eine Aufzeichnung zur Verfügung gestellt.

Über Biogen Idec

Biogen Idec setzt neue Maßstäbe in therapeutischen Bereichen, in denen
erhebliche medizinische Versorgungslücken bestehen. Biogen Idec wurde im Jahr
1978 gegründet und ist ein weltweit führendes Unternehmen in der Entdeckung,
Entwicklung, Herstellung und Kommerzialisierung innovativer Therapien. Die
wichtigen Produkte von Biogen Idec für die Behandlung von Krankheiten wie
Lymphomen, multipler Sklerose und rheumatoider Arthritis kommen Patienten in
aller Welt zugute. Produktinformationen, Pressemitteilungen und zusätzliche
Informationen über das Unternehmen finden Sie unter www.biogenidec.com.

Safe-Harbor-Erklärung

Diese Pressemitteilung enthält zukunftsbezogene Aussagen über unsere
marktgängigen Produkte und die erwartete Entwicklung von Programmen in unserer
Pipeline. Solche Aussagen beruhen auf unseren derzeitigen Ansichten und
unterliegen Risiken und Ungewissheiten, aufgrund derer die tatsächlichen
Ergebnisse maßgeblich von unseren Erwartungen abweichen können. Wichtige Risiken
und Ungewissheiten, aufgrund derer die tatsächlichen Ergebnisse von unseren
Erwartungen abweichen könnten und die unsere finanzielle Situation und
Betriebsergebnisse beeinträchtigen könnten, sind unter der Überschrift „Risk
Factors” in unserem aktuellsten Jahres- oder Quartalsbericht und anderen
Berichten dargelegt, die wir bei der US-Börsenaufsicht SEC eingereicht haben.
Wie alle in dieser Pressemitteilung enthaltenen Aussagen gelten zukunftsbezogene
Aussagen nur zum Zeitpunkt ihrer Veröffentlichung. Wir verpflichten uns in
keiner Weise zur öffentlichen Aktualisierung zukunftsbezogener Aussagen infolge
neuer Informationen, zukünftiger Ereignisse oder sonstiger Gründe.

Die Ausgangssprache, in der der Originaltext veröffentlicht wird, ist die
offizielle und autorisierte Version. Übersetzungen werden zur besseren
Verständigung mitgeliefert. Nur die Sprachversion, die im Original
veröffentlicht wurde, ist rechtsgültig. Gleichen Sie deshalb Übersetzungen mit
der originalen Sprachversion der Veröffentlichung ab.

Biogen Idec Pressestelle:
Amy Reilly, 781-464-3260
Associate Director, Public Affairs
oder
Biogen Idec Investorbeziehungen:
Kia Khaleghpour, 781-464-2442
Associate Director, Investorbeziehungen

Copyright Business Wire 2010

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,
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