Struggling photo pioneer Eastman Kodak Co. said Monday that it has reached an agreement to borrow $793 million, an important step in letting it leave bankruptcy protection in the first half of next year. The deal is contingent on Kodak being able to sell its patent portfolio for at least $500 million.
“Does my plant need an overall equipment effectiveness (OEE) system?” That question is top of mind for many plant managers intent on measuring and improving productivity. OEE is a simple performance indicator to which all managers can relate. But using an OEE score alone to reduce costs is like using a credit score to reduce monthly expenses. A credit score doesn’t provide any guidance in terms of actual performance and root causes.
The resilience of the U.S. manufacturing sector and the slow, but stable overall economic growth, may have been attractive for strategic, long-term investors. Moreover, the value of North American targets far exceeded the value of targets from any other region, an indication of both the size and maturity of targets from this region and the fairly attractive nature of the North American manufacturing market.
Capital goods maker Fiat Industrial on Monday announced a new management structure aimed at making it easier to merge with its U.S. subsidiary CNH Global N.V., the agriculture equipment maker. Fiat Industrial said it has created a 20-seat Group Executive Council, which will be headed by Chairman Sergio Marchionne and CNH CEO Richard Tobin in the new position of group chief operating officer.
Research In Motion said Monday that it will hold an official launch event for its new BlackBerry 10 smartphones on Jan. 30. The new phones are seen as critical to RIM's survival. The Waterloo, Ontario-based company said Monday details on the much-delayed smartphones and their availability will be announced at the event.
Osamu Suzuki, president and chairman of Suzuki Motor Corp., said Monday his company aims to produce 100,000 vehicles at its new plant in the eastern Thai province of Rayong in 2016. "This facility will complement a plant in Indonesia as a major foothold in Southeast Asia," Suzuki said at the opening ceremony of the Thai plant.
Trina Solar Ltd. lowered its third-quarter guidance on Monday, citing industry-wide oversupply and lower prices. The Chinese solar panel maker estimates shipments in the third quarter between 375 and 385 megawatts, down from previous guidance of 450 to 480 megawatts. The company said margins were squeezed by anti-dumping duties in the U.S. and an inventory write-down.
India's industrial production contracted 0.4 percent in September, government data showed Monday, far worse than expected as manufacturing output continued to slump amid signs of weakness in investment and consumer demand. The results indicate that Asia's third largest economy still has a way to go to pull itself out of its current slowdown.
Sherwin-Williams is buying the privately held Mexican paint company Consorcio Comex in an all-cash deal valued at about $2.34 billion. Consorcio Comex, S.A. de C.V., sells paints and coatings under several brands in the United States and Canada, and it sells architectural and industrial coatings in Mexico. It has company-operated stores and also works with independent paint dealers.
Fresh industrial production data among a raft of figures shows that China's lukewarm rebound is on track. China's manufacturing sector had been hit earlier in the year by Europe's steep slowdown, but the latest figures show that it is now on the rebound.
Toyota is testing car safety systems that allow vehicles to communicate with each other and with the roads they are on in a just completed facility in Japan the size of three baseball stadiums. The cars at the Intelligent Transport System site receive information from sensors and transmitters installed on the streets to minimize the risk of accidents in situations such as missing a red traffic light.
Lockheed Martin Corp. has ousted its president and future CEO over a relationship with a subordinate. The defense company said Friday that its board of directors asked for and received the resignation of Christopher Kubasik from his role as vice chairman, president and chief operating officer. Kubasik, 51, was scheduled to become CEO in January.
About a dozen workers began picketing at a Hostess Brands plant in Sacramento honoring a bakers' union strike at the bankrupt company's plants across the country. The picket line formed on Sunday, two days after the walkout began when the maker of Twinkies, Wonder Bread and Ding Dongs imposed a contract that would cut wages by 8 percent.
The Chinese government will require that future industrial projects include assessments of their risk to social stability, following several large protests around the country over pollution, a top official said Monday. The government will also increase transparency and public involvement in decisions regarding large projects with potential environmental impact, Minister for Environmental Protection Zhou Shengxian said.
Members of the International Association of Machinists and Aerospace Workers approved a five-year contract with Bombardier Learjet on Saturday, putting an end to the month-long walkout. The workers could return to the Wichita plant as soon as Monday.
Thailand's subsidiary of Honda Motor Co. on Monday began a new production line of mid-displacement motorcycles at its factory in the Thai capital. Thai Honda Manufacturing Co. President Shunichi Eguchi said the new CBR500 motorcycle production is a "challenge" for Honda in Thailand, where only small-displacement motorcycles have been produced since 1967.
As a leading contract packager of dry food products for hundreds of well-known brands, Ryt-way offers customers a wide variety of “market-smart” packaging options. But as it continued to expand its breadth of capabilities, Ryt-way’s Des Plaines, IL facility had a spare parts inventory system for its 900-plus pieces of equipment that was proving woefully inadequate.
I believe that creativity can’t happen without changing from a rigid organization that depends on control, rules, and a formal structure to a flexible and less formalized organization where employees are encouraged to take risks, experiment, and question the status quo without reprisal.
X-series combines wedge-locking protection against spontaneous bolt loosening with an exclusive spring effect that protects against slackening due to settlement and relaxation.
The first portable ultrasound instrument to include both a built-in temperature sensor and a laser tachometer, the SDT270 also has an onboard SQL database to capture and manage survey data.