Dec. 20--PRNewswire/AsiaNet
BUSINESS ACQUISITION...
HONG KONG: Level 3 Communications, Inc today announced that Reach will acquire Level 3's Asian business, which includes its "Asian network operations, assets, liabilities and future financial obligations", a company press release said. The deal will reduce costs for Level 3 by approximately $300 million and allow the company to focus on business in North America and Europe.
MICROBIOLOGICAL ADVANCE...
SYDNEY: BTF Decisive Microbiology said today it has completed "the first of its EasySeed Bacteria prototypes" - microorganisms in a freeze dried pill form for application in industry and research. Mark Gauci, Managing Director and CEO of BTF. said: "This technology will have substantial market application because it will help in eliminating microbiological contaminations of food and other products, that currently represents significant economic loss to industry and government" according to a press release.
ONLINE MARKETING...
HONG KONG: Internet services firm Modem Media has been selected by Cathay Pacific Airlines as its strategic partner "to develop their online marketing initiatives in Hong Kong",it was announced today. Modem Media "will be the Interactive Media Creative Agency for Cathay Pacific's digital marketing communications ... working with their Marketing Department to develop online creative solutions for upcoming online media campaigns targeting Asia" a press statement said.
PARIS EXCHANGE...
MENLO PARK: E*TRADE Institutional Securities has become a member of the EURONEXT Paris exchange as an authorized broker-dealer, it was announced today. By acquiring an Exchange seat "E*TRADE will increase revenue and profitability by leveraging its direct access to EURONEXT Paris for its growing global institutional order flow", according to a press release.
100th BIRTHDAY...
HEIDELBERG: German inventor Dr. Rudolf Hell is celebrating his 100th birthday today and the City of Kiel and Heidelberger Druckmaschinen AG (Heidelberg) are honoring Dr. Hell at a ceremony in Kiel City Hall, a press release said. Dr Hell "is the inventor of fax technology and a pioneer in the field of telecommunications".
ELECTRONICS SHOW...
DEARBORN: Visteon Corporation's latest audio and entertainment systems, human-machine interfaces and personal-security systems will be on show at the Consumer Electronics Show, Jan. 8-11 at the Las Vegas Convention Center, Nevada. Products on display include MP3 players, car DVD systems and satellite radio devices.
GOLF SCHOLARSHIPS...
VICTORIA: Callaway Golf Canada Ltd and the Canadian Golf Foundation today jointly announced the "establishment of the Callaway Golf Company Fund which will be used by the CGF to launch its Canadian Player Development Program" a media release said. Callaway Golf has "pledged CAN $300,000 to the Fund, which will permit the Foundation to make grants from the Fund as early as the Spring of 2002".
ALCAN RESTRUCTURE...
MONTREAL: Alcan International today released further details on the restructuring program it outlined on October 17, 2001, which includes a series of plant closures in Canada and the United States and divestments in its extrusion operations in Malaysia and Thailand. The Company also intends to sell its glass and Pharmatech packaging assets.
EXECUTIVE APPOINTMENTS...
HONG KONG: Oil and gas producer CNOOC Limited today announced the appointment of Mr. Will Honeybourne to the Board of Directors "in place of Mr. Lim Meng Ann who departs the Board effective from 18 December 2001". Presently, Mr. Will Honeybourne is "a Managing Director of First Reserve, a private equity firm specialized in energy investments", a media release said.
NEW YORK: Multex.com, Inc today named Jeffrey Geisenheimer as Chief Financial Officer, effective immediately, succeeding John J. McGovern. Multex.com, Inc is described as "a global provider of investment information and technology solutions for the financial services industry".
FINANCE RESULTS ...
SANTA CLARA: Internet and business network company 3Com Corporation today reported financial results for its second fiscal quarter of fiscal year 2002 ended November 30, 2001. Bruce Claflin, 3Com president and chief executive officer, described the results for the quarter as "great progress" for 3Com, which included revenues of $394 million, "a sequential increase from revenues of $390 million in the first fiscal quarter".
(AsiaNet is a consortium of leading news agencies distributing unedited, translated press releases for worldwide clients. Contact: www.asianet.com.au for full-text versions).