Shelby America just unveiled its new Shelby Raptor pickup truck and CNN Money senior editor Peter Valdes-Dapena took the new truck out for a spin at Monticello Motor Club, which offers both a performance track and an off-road course. The 575-hp Shelby Raptor has monster performance and rugged off-road capability, making it a pick-up truck for the not-so-faint-of-heart.
Caterpillar says it plans to close its Summerville remanufacturing plant next year, a move that will put 280 people out of work. The Post and Courier of Charleston reports the company said Monday that the decision came after an extensive strategic review of the business.
Ford Motor Co. announced its entry into Myanmar on Tuesday, saying it plans to open the nation's first sales and service showroom for new vehicles by August. Myanmar's vehicle market has been stunted by decades of international sanctions and strict import controls put in place by the military junta that ruled for nearly 50 years, handing out import licenses to a few favored tycoons.
Japan manufacturing and employment showed slight improvements in March, buttressing hopes that the economy may be headed for a moderate recovery. Factory output rose 0.2 percent, the Ministry of Economy, Trade and Industry said Tuesday, in the fourth straight monthly increase. It pointed to strength in chemicals, electrical components, telecommunications equipment and steam turbines.
Executives with Yokohama Rubber Co. Ltd. say they will build a new tire plant in Mississippi because they see a global supply shortage for tires. The company plans to invest $300 million, hiring 500 people, in a first phase, and could invest $1.2 billion, hiring 2,000 people, over time. State and local governments could give more than $340 million in aid and tax breaks.
U.S. Steel says it lost $73 million in the first quarter because of tough competition and rising prices. A year ago it made money in its flat-rolled steel segment, but that was a money-loser in the most recent quarter. Production costs rose, but selling prices didn't.
Subaru is recalling just over 10,000 of its 2014 Forester wagons because the floor mats can interfere with the clutch, brake or gas pedals. The recall affects Foresters made from January 2013 through March. The company says the floor mats can curl when exposed to heat.
Thankfully, rather than simply doing a quick visual assessment of the roof and deciding it needs to be replaced, today’s roofing professionals can rely on several different non-destructive moisture tests to help make solid recommendations based on unbiased scientific information. The decision of when to repair, restore or replace a large commercial roof often involves a million dollars or more.
After years of advice, prodding, urging and incentivizing, manufacturers are greener than ever, and so are their pocket books. According to statistics from the U.S. Energy Information Administration (EIA), the average retail price of electricity for industrial customers has risen steadily from 5.05 cents per kilowatt-hour in 2001 to 6.82 cents per kilowatt-hour in 2011.
The Disston Company’s CEO and President, Stephen Chen, purchased a 130,000 square foot industrial building in Chicopee, company spokesperson, Mark Marzeotti, today announced. Disston is a manufacturer of saw blades, drill bits, and other hand and power tool-related accessories for the DIY, contractor, and industrial markets. Its brands include Blu-Mol, RemGrit, Aggressor, and Blu-Mol Xtreme.
Intelligrated®, a leading North American-based automated material handling solutions provider, today announces the appointment of Bob Wilson to the position of vice president, international division, Intelligrated. Based in Mason, Ohio, Wilson will oversee international sales and operations.
With the backdrop of an uncertain economy, shrinking unions and company cost-cutting, Goodyear and the Steelworkers are negotiating on a new national contract covering 8,000 tire workers at six plants. The first round of talks in Cincinnati ended Thursday and recessed.
Weak sales in Europe and lower profits at U.S. partner Chrysler pushed Italian carmaker Fiat to a loss in the first quarter. Fiat SpA on Monday said it lost 83 million euros ($108 million) during the first three months of the year, compared with a restated first-quarter profit of 35 million euros in the same period of 2012.
Hostess Brands LLC said Monday that it will open bakeries in Indiana and Illinois, following announcements last week that it will reopen bakeries in Georgia and Kansas in its effort to bring back some of its snack brands. The predecessor to Hostess Brands filed for bankruptcy protection in 2012 after years of turmoil and later decided to go out of business after a nationwide strike crippled its operations.
A Bangladesh court on Monday gave police 15 days to interrogate the owner of a building that collapsed last week, killing at least 382 people, as rescuers used heavy machinery to cut through the destroyed structure after giving up hopes of finding any more survivors.