STOCKHOLM (AP) — Struggling car maker Saab Automobile faced renewed uncertainty Thursday as the financing deal with China's Hawtai Motor Group fell apart, raising fresh concerns about the company's future. Spyker Cars NV, which bought Saab from General Motors Corp. in 2010, said it was "forced to terminate" the $223 million (euro150 million) agreement with Hawtai since the Chinese company was not able to obtain all the necessary consents, including approvals from different shareholders.
Joining Technologies, Inc. (East Granby, CT) has announced plans to add new features and functionality to its Infinite Web all-in-one coil joiner. The system incorporates laser cutting and welding with a single head, and new features enable the splicing of Titanium coils, as well as splicing on a 15° bias as an alternative to forming perpendicular joints.
VAC-U-MAX (Belleville, NJ) is introducing a streamlined website design that allows buyers of industrial vacuum cleaners to research the best vacuum for their application by category and industry. Some of the major applications include fine powders, liquid recovery, and flammable liquid recovery.
Binder-USA (Camarillo, CA) has announced the addition of a knurled- and hex-threaded locking ring nut to the M12 Series 763 and 766 overmolded connectors. This new feature allows the connectors to be tightened with a torque wrench to ensure proper mating in industrial network and sensor applications.
The Model 235 Vibration Meter from Balmac (Plain City, OH) give users the means to quickly and easily do rotating machinery vibration measurements. The user can select the unit by pressing the Acceleration, Velocity, or Displacement buttons, while its automatic ranging capability scales the meter for the most accurate measurement.
In college there were classes I deemed important to my life and others that were mere requirements forced upon me. At the time I resented having to study things that didn't fit into my master plan; today I recognize that the most important lesson I ever learned came from classes I would never have selected.
In the last couple years, the American economic outlook has been bleak. Industries of all shapes and sizes have faced enormous challenges as they’ve struggled to adapt to the current fiscal climate. And nobody would disagree that one of the industries hit hardest – both by the downturn and by ever-growing competition from overseas companies - was manufacturing.
Rhode Island-based Advanced Chemical Company recycles gold and other precious metals from industrial production through a variety of sophisticated reactions. Based on the almost continuously-rising price of gold, business is booming. If you’re having trouble watching this video, try downloading the latest version of Flash Player or contacting your IT department.
WASHINGTON (AP) — U.S. companies in March sold the most goods and services overseas in nearly two decades. But a big jump in oil prices pushed the nation's trade deficit higher. The trade deficit rose 6 percent to $48.2 billion, the Commerce Department said Wednesday. That's the highest level since June 2010.
DETROIT (AP) — Toyota Motor Corp. says North American production will rise to 70 percent of normal in June as the company begins to recover from parts shortages caused by the earthquake in Japan. The company cut production to about 30 percent of normal in May by idling factories for several days or reducing their hours.
WASHINGTON (AP) — Companies in March advertised the most jobs since the peak of the 2008 financial crisis, a sign that hiring is likely to remain healthy in the months ahead. Job openings rose by 99,000 to 3.1 million in March, the Labor Department said Wednesday. That's the highest level of openings since September 2008 and the second straight monthly increase.
GREENVILLE, S.C. (AP) — The California-based organic frozen food producer Amy's Kitchen is coming to South Carolina with $63 million for a new plant and 700 jobs over six years, officials announced Wednesday. Gov. Nikki Haley hailed the development as a major economic win for the region and the state as a whole.
RICHMOND, Virginia (AP) — The head of cigarette maker Philip Morris International Inc. told a cancer nurse Wednesday that while cigarettes are harmful and addictive, it is not that hard to quit smoking. CEO Louis C. Camilleri 's statement was in response to comments at its annual shareholder meeting in New York, in which the seller of Marlboro and other brands overseas spent most of the gathering sparring with members of anti-tobacco and other corporate accountability groups targeting its marketing and regulatory dealings.
TRENTON, N.J. (AP) — Johnson & Johnson is again recalling a prescription drug because of an odd musty odor likely caused by a chemical on shipping pallets. J&J said Wednesday that it's recalling five lots of its HIV medicine Prezista at the wholesale and pharmacy level in five foreign countries: Austria, Canada, Germany, Ireland and the United Kingdom.
General Motors was once the highlight of the American industrial complex, but it's been a bumpy road over the last 50 or so years. Between bad management and partial ownership by the U.S. government at the UAW, the company has lost is once-blinding luster. Fortune 's Alex Taylor III helps explain some of the ups and downs of America's largest automaker, how their current CEO is performing, and what the company will look like in 2020.
Marcin Jakubowsi is a Polish-born “technologist” who moved to Missouri to start a farm of his own, and ended up creating a whole new approach to living off the land — for cheap. He found that buying traditional farming equipment was prohibitively expensive for anyone but the biggest of farms, so he designed and build his own equipment.
Anyone in the marine or ship-building industries is probably familiar with the process of “floating” a ship, but for the rest of us, it's a pretty eye-opening (and nerve-wracking) scene. Just imagine how stressful automaking would be if each car had to undergo a similar process. If you’re having trouble watching this video, try downloading the latest version of Flash Player or contacting your IT department.
CNN Money recently took a tour through an environmentally-friendly potato chip plant run by PepsiCo., where they make a wide variety of chips, including Lay's, Ruffles, Doritos, and more. Despite processing 21,500 pounds of potatoes per hour , the plant is still striving to become more sustainable.
The Labor Department released some interesting employment data last week. The economy added 244,000 jobs last month. Private employers shrugged off high gas prices and created 268,000 jobs — the most since February 2006. However, the jobless rate edged upward at the same time. What gives? If you’re having trouble watching this video, try downloading the latest version of Flash Player or contacting your IT department.
NEW DELHI (AP) — India's Supreme Court rejected an appeal Wednesday to reinstate stronger charges against seven people convicted of negligence in connection with the 1984 toxic gas leak in Bhopal that killed an estimated 15,000 people. The leak at a Union Carbide plant, the world's worst industrial accident, left thousands more with devastating deformities and other health problems.