TROY, Mich. (AP) — A southeastern Michigan technology association is partnering with former Chrysler CEO Tom LaSorda to help companies commercialize their ideas. LaSorda is the co-founder of a $100 million investment fund called Stage 2 Innovations that will be available to so-called second-stage companies.
DETROIT (AP) — With a few computer keystrokes in an office at its headquarters, Chrysler Group LLC sent $7.6 billion to the U.S. and Canadian governments on Tuesday, paying off most of the bailout money that saved the company from financial disaster just two years ago. The repayment — expected for weeks — is a huge step in the automaker's unlikely comeback.
CHATTANOOGA, Tenn. (AP) — Volkswagen is jumping into the U.S. auto market with a new Passat that is bigger, cheaper and built domestically in hopes of breaking into the competitive midsize sedan market. During a grand opening for their new plant in Chattanooga on Tuesday, the German automaker presented the 2012 Passat as the key to building U.
Volkswagen officially opened its Chattanooga, Tenn. plant yesterday, which means the creation of 1,200 jobs for the new Passat. The German automaker is aiming to become the largest automaker in the world, which means taking on GM and Toyota head-on. Certainly, company executives are hoping this new plant will help increase sales among U.
Magnalight (Kemp, TX), a Larson Electronics company, has added the EPL-50-120x12-HER incandescent work light to its line of explosion-proof and hazardous location drop lights. The work light produces an effective spotlight beam that is valuable for jobs requiring the ability to project illumination across significant distances.
The HV Switchgear Lubricant from CRC (Warminster, PA) is a one-step lubricant and corrosion inhibitor for metering distribution and substation-class switchgear contacts. The non-flammable formula penetrates to coat contacts and provides corrosion protection, while the PowerJet spray nozzle allows application from a greater distance.
Sierra Instruments (Monterey, CA) has introduced the Innova-Sonic 210i, their updated universal transit-time flow meter for liquid flow measurement applications. A high-powered ultrasonic pulse offers improved digital signal processing, which allows customers to use just one set of transducers over a wide range of pipe sizes.
Power-One, Inc. (Camarillo, CA) has announced the availability of its i-PWER Low Profile Modular (LPM) AC-DC power supply family. The flexible series offers up to 1,500W of power in the six-slow chassis (LPM615 model) or up to 900W in a four-slop chassis (LPM409 model). Four available output modules can easily be fitted into the four- or six-slot chassis, which provides customers with their exact voltage and current requirements.
MOLINE, Ill. (AP) — Deere & Co. will spend $60 million to build a new engine manufacturing plant in China for its agricultural, construction and forestry equipment. Deere's new engine plant will near several of the Moline, Ill., company's other facilities in Tianjin, China. Tuesday's engine plant announcement is the second investment in China that Deere has announced in the past week.
BERLIN (AP) — Germany's most powerful industrial sectors said Tuesday they are backing government plans to abolish nuclear power within about a decade, but warn that blackouts and other risks could arise from the decision. "We believe that it is possible to replace nuclear power by 2022 or a date in that range," said Christopher Gruenewald, head of energy and climate policy for the Federation of German Industry group that represents the nation's manufacturers.
DETROIT (AP) — The company that got stuck with General Motors Co.'s debts and bad assets will begin selling stock and warrants in the new GM, according to a regulatory filing Tuesday. Motors Liquidation Co. said in the filing with the Securities and Exchange Commission that the stock and warrants being sold starting Tuesday are worth a total of $5.
TOKYO (AP) — Ford sees a big chance to snatch buyers away from Japanese automakers battling production delays caused by the March earthquake and tsunami, and vehicles in the works could help deliver it growth in a long-difficult market. "The opportunities for Ford in Japan have never been greater," Ford Japan Chief Executive Tim Tucker said Tuesday of the products planned for Japan.
SEOUL, South Korea (AP) — Police in South Korea are breaking up a strike at an auto parts manufacturer that has caused production disruptions for the country's automakers. Police official Seo Jung-pil said Tuesday that about 1,000 police raided a Yoosung Enterprise Co. factory in Asan, south of Seoul, where some 500 workers had been on strike since May 18.
MACOMB TOWNSHIP, Michigan (AP) — Chrysler CEO Sergio Marchionne said Monday that his company will save $300 million in interest a year when it repays $7.5 billion in U.S. and Canadian government loans on Tuesday. Chrysler plans to announce the repayment at a Detroit-area auto assembly plant on Tuesday afternoon.
LONDON (AP) — British lawmakers said Monday they still have "significant concerns" about the takeover of chocolate maker Cadbury by Kraft Foods Inc. — more than a year after the controversial deal. The Business, Innovation and Skills Select Committee also strongly criticized Kraft's chief executive Irene Rosenfeld for refusing to appear before parliamentary hearings into the takeover.
INDIANAPOLIS (AP) — Two entrepreneurs who relaunched a chocolate-flavored drink called Choc-Ola are hoping baby boomers' taste for nostalgia and consumers' love of anything with chocolate helps make the revived beverage a success. Choc-Ola — a concoction of water, sugar, low-fat milk, cocoa and a handful of other ingredients — debuted in the 1940s and was pitched to a generation of fans in the 1970s by "Cowboy Bob" on Indianapolis television station WTTV-4's children's program.
NEW YORK (AP) — Campbell Soup Co. said Monday that its U.S. soup sales fell in its third quarter as it ditched the heavy discounts and found consumers stocked up less. But its overall results beat expectations as its baked goods and snacks which include Pepperidge Farm products, Goldfish crackers and Milano cookies sold well.
CGW-Camel Grinding Wheels (Niles, IL) has introduced a line of diamond wheels engineered for demanding metal applications, with a high concentration of diamond grip, a solid steel body, and an advanced brazing process. The longer-lasting life spans allow for increased production times and lower cost ratios.
The AlumiSeal brush-on methacrylate compound, from IMPCO Inc. (East Providence, RI), is formulated for sealing porosity in aluminum parts and welds that will contain liquids or gases under pressure. The low dynamic viscosity enables it to wick deeply into pores and between close-fitting non-ferrous metal surfaces.
Lenze Americas (Uxbridge, MA) has recently launched the Lenze 8400 Inverter Series, which features L-Force automation technology for tailored motion control solutions that deliver stable and dynamic performance in material handling operations. In addition, the series incorporates intelligent features, including memory modules, online diagnostics, and optional integrated safety systems.