Chemical coating maker Cytec Industries Inc. said Tuesday it has agreed to sell its coating resins business to private equity firm Advent International for $1.03 billion. The Woodland Park, N.J.-based company said the sale will allow it to focus on its high-growth areas of advanced materials and separation technologies, boosting returns for its shareholders.
The expansion of the shale gas market could potentially drive significant benefits to the U.S. chemicals industry, including decreased raw material and energy costs, according to a new report by PwC. Another recent PwC report estimated that the potential impact of shale gas on U.S. manufacturing could enable U.S. manufacturers to lower their raw materials and energy costs as much as $11.6B annually by 2025.
With the deadline fast approaching, the race is on to keep BAE's mega-merger with EADS from hitting the ground. A stand-off between European governments over state shareholdings threatens to destroy the deal between the UK arms firm and Airbus parent as plans are made to give both sides extra time.
Sales of Japanese vehicles nosedived in China during September as anti-Japanese sentiment flared over a territorial dispute that threatens to hobble what was a booming business relationship between Japan and its biggest export market. Toyota Motor Corp. said Tuesday that sales of new vehicles in China dropped 48.9 percent in September from a year earlier.
A former high school athlete who was shot in 2003 may sue the companies that made and distributed the handgun used in the crime under an appellate court ruling that gun control advocates say will keep irresponsible gun makers and sellers from taking advantage of a federal law shielding them from lawsuits.
A factory in Prescott that makes roofing materials marked the opening Monday of its $36 million expansion and addition of 100 new jobs. Firestone Building Products Co. consolidated work from a plant at Kingtree, S.C., with its modernized factory in Prescott.
Hewlett-Packard Co. would be better off breaking up into two separate companies instead of tormenting shareholders by pursuing a prolonged turnaround attempt, according to an industry analyst. UBS analyst Steven Milunovich concluded that HP should be split up after attending a management presentation that brought the company's challenges into sharper focus.
The plane that was formally delivered to Air India in a ceremony last week flew out of the Charleston International Airport on Monday. The plane is the first assembled at the Boeing assembly plant in North Charleston that opened more than a year ago. The plane, the 28th 787 manufactured by Boeing, made its maiden test flight over the Atlantic Ocean last spring.
Tool maker Stanley Black & Decker Inc. is selling its hardware and home improvement business to Spectrum Brands Holdings Inc. for $1.4 billion in cash. The hardware and home improvement unit makes locksets, hardware and faucets for residential use and includes brands such as Pfister, Baldwin and Kwikset.
The outlook for technical jobs has turned positive. According to The U.S. Bureau of Labor Statistic’s Occupational Outlook Handbook 2012-2013, growth in HVAC and electrical jobs will grow at two to three times the average growth forecasted and industrial plant technician jobs will grow at the average rate of 11 percent.
Fall is around the corner, which means weather will begin to cool, and the outdoors will become less hospitable for humans and animals alike. As you begin to welcome the start of autumn, keep an eye out for pests that may be aiming to make your facility their home for the next several months.
Ranked among the largest trade shows in the world, total registration for the six-day 2012 event was 100,200. “The energy level was at an all-time high,” says Peter Eelman, IMTS Vice President – Exhibitions and Communications. “The most exciting take-away from IMTS 2012 is what it says about the prospects for manufacturing over the next year."
American companies should avoid doing business with China's two leading technology firms because they pose a national security threat to the United States, the House Intelligence Committee is warning in a report to be issued Monday. The panel says U.S. regulators should block mergers and acquisitions in this country by Huawei Technologies Ltd. and ZTE Corp.
Honda Motor Co. is recalling about 489,000 CR-V crossovers in the U.S., Europe and Africa, from the 2002 to 2006 model years because an electrical switch in the driver's side door could melt and cause a fire. Honda and the National Highway Traffic Safety Administration announced the recall Saturday for 268,000 vehicles in the U.S.
Workers at the Bombardier Learjet plant in Wichita are striking after voting Saturday to reject a contract that would have increased health care costs. On Monday morning, traffic at the only gate open to non-striking employees was backed up more than three miles as picketers briefly stopped vehicles attempting to enter.
Parker-Hannifin, which makes industrial hoses, airplane wheels and other products, says it has closed on the sale of the automotive air conditioning business of its mobile climate systems unit to Germany's ContiTech AG. The deal was announced in August. ContiTech said that the transaction would help strengthen its presence in Asia.
The aerospace and defense contractor will split its electronic systems division into two separate units that will help to lower costs and streamline its operations. It is also folding its global training and logistics unit into the two divisions being created from the electronics systems business.
August U.S. manufacturing technology orders totaled $470.44 million according to AMT. This total, as reported by companies participating in the USMTO program, was up 3.4 percent from July but down 4.7 percent when compared with the total of $493.60 million reported for August 2011.
Oracle sells more software to businesses than any other company in the world. The company's CEO, Mark Hurd, recently spoke to the New York Times about investing in big data, what it means for Oracle, and what it means for its customers.
By adapting their operations to flex with markets, smart manufacturers with global footprints are learning to profit from permanent volatility, while insulating themselves against downside risk and simultaneously moving with speed and agility to capitalize on opportunities as they arise.