Residents of Midland, Texas enjoy the second highest personal incomes in the United States, thanks to a booming oil and gas industry. Unemployment in Midland is less than half the national average at 3.5 percent. If people in Midland don't have a job, it's because they don't want to work, say the residents.
Companies placed slightly more orders in August for U.S. long-lasting manufactured goods, stepping up demand for cars, trucks and machinery. Even with the gain, business spending on factory goods may not be strong enough to accelerate economic growth in the July-September quarter.
Police in Bangladesh used batons, rubber bullets and tear gas Wednesday to stop ongoing protests by garment workers demanding higher wages, while factory owners feared they may miss shipments to the United States and Europe. The fifth day of protests in two industrial districts near Dhaka, the capital, forced authorities to close more than 100 factories for the day, police and news reports said.
Shell Oil Co. announced Tuesday that it has settled on Ascension Parish to possibly build a $12.5 billion natural gas to liquids plant that would create 740 direct jobs. No final decision has been made on whether to construct the facility on a site near Sorrento, about 30 miles from Baton Rouge. The company says it will decide after engineering studies and environmental permitting are done.
Nestle USA says it will spend $72 million to add a new production line to the central Indiana plant where it makes several beverage products. The expansion project will start up a seventh production line at the factory along Interstate 69 in Anderson. The company says it will be making more of its Boost and Carnation Breakfast Essentials drinks at the plant.
A federal agency is proposing nearly $133,000 in fines for a Hastings cold storage plant, alleging more than a dozen safety violations. The U.S. Department of Labor's Occupational Safety and Health Administration says in a news release that workers were exposed to anhydrous ammonia at the Nebraska Cold Storage Inc. plant.
The U.S. Department of Transportation’s Federal Transit Administration announced a new Interagency Agreement with the U.S. Department of Commerce’s NIST that will make it easier for manufacturers and transit agencies to identify domestically made products, such as steel and iron components that comply with FTA’s “Buy America” rules requiring that at least 60 percent of the components must be manufactured in the United States.
The buzz around wearable technology has been escalating the past several months. With this market gaining momentum, a key question needs to be addressed: How prepared are manufacturers to design and deliver these new and innovative types of products time and time again?
Lately, there has been a lot of buzz about the new and emerging technologies in manufacturing that are likely to produce major industry changes in the coming months and years. One such area of technology, as identified by the Advanced Manufacturing Partnership (AMP) group, is remanufacturing.
Google Inc. paid $24.5 million for the former Gatorade plant in Pryor — a fraction of the $180 million spent on the facility when it opened five years ago, according to the commercial real estate firm handling the transaction. B Richard Ellis/Oklahoma confirmed the purchase price Monday to the Tulsa World.
Airbus is predicting that the number of jet planes around the world will double in the next 20 years, largely to satisfy demand in emerging markets, particularly China. At a press briefing in London, where it unveiled its market forecasts for the period up to 2032, the European plane maker said air traffic will grow 4.7 percent annually.
The federal government has awarded a $2.27 million contract to a suburban Detroit organization to promote advanced manufacturing in Michigan. Democratic U.S. Sens. Debbie Stabenow and Carl Levin said Tuesday that the Michigan Manufacturing Technology Center in Plymouth received the contract from the National Institute of Standards and Technology.
A German powertrain maker will build its first American factory in Tunica, with plans to invest $140 million and hire 300 people over five years. Feuer Powertrain Gmbh & Co. KG says it hopes to start production by early 2015 at the 156,600 square-foot plant it will build. Feuer will make forged crankshafts for cars, trucks and heavy equipment.
Chip-making equipment manufacturer Applied Materials is acquiring Tokyo Electron Ltd., a rival maker of equipment for production of semiconductors, flat panel displays and solar panels. The two companies said Tuesday their $9.39 billion all-stock transaction will result in the creation of a new company with a market capitalization of about $29 billion.
Illinois Tool Works will attempt to sell its industrial packaging business by the middle of next year. The company had said in February that it was reviewing its options for the business, which had revenue last year of $2.4 billion. The decision to sell was based on the "underlying value of the business, the level of preliminary interest from potential buyers and a favorable debt market," the company said Tuesday.
BlackBerry has agreed to sell itself for $4.7 billion to a group led by largest shareholder, Fairfax Financial Holdings Ltd. BlackBerry said Monday that a letter of intent has been signed and its shareholders will receive $9 in cash for each share. But while the smartphone maker has agreed to a takeover bid, its struggles are far from over.
EMO Hannover 2013 – the leading international trade fair for the machine tool industry – came to a successful close on Saturday 21, September 2014. From September 16 to 21, more than 2,100 exhibitors from 43 different countries were on hand in Hannover to showcase their innovations to industrial users from around the world under, Intelligence in Production, the event’s keynote theme.
Chrysler Group is reluctantly preparing for an initial public offering of some of its shares. The automaker is proceeding with the IPO after it failed to reach an agreement on the value of the stock with the retiree trust that owns it. Chrysler shares haven't been publicly traded since 1998, when the company merged with Daimler AG.
South Korea on Tuesday rejected Boeing Co.'s bid to supply 60 fighter jets in the country's largest-ever weapons purchase even though it was the sole remaining bidder, and said it would reopen the tender. Boeing had offered its F-15 Silent Eagle, but South Korean critics have said the warplane lacks state-of-the-art stealth capabilities and cannot effectively cope with North Korea's increasing nuclear threats.
About 500 workers have been temporarily laid off from a northwest Ohio plant that produces the new Jeep Cherokee. Transmission reprogramming and extra test-driving delayed shipment of the vehicles, and inventory from the Toledo facility has accumulated, so some second-shift workers have been idled. The layoffs are expected to last about two weeks.