DURHAM, N.C (AP) — LED lighting maker Cree Inc. said it has bought Ruud Lighting Inc., which makes outdoor LED lighting, for about $525 million. Cree said the purchase price consists of $372 million in cash, $211 million in stock and $85 million to retire outstanding debt, offset by about $143 million in future tax benefits related to the acquisition.
NEW ORLEANS (AP) — Paper producer Temple-Inland Inc. took responsibility Wednesday for a huge fish kill on the Pearl River that borders Louisiana and Mississippi, blaming a discharge from one of its paper mills. In a statement, Austin, Texas-based Temple-Inland apologized "for the impact this issue at the mill has had on the Pearl River.
DALTON, Ga. (AP) — Executives of Dalton-based Shaw Industries say the carpet company is laying off employees at plants in the northwest Georgia cities of Ringgold and Eton. The Daily Citizen reports (http://bit.ly/n7O8dn) that company officials declined to say how many workers are affected.
WASHINGTON (AP) — Manufacturing in the mid-Atlantic region contracted in August by the most in more than two years, adding to fears that the U.S. economy is weakening. Those fears sent financial markets tumbling in morning trading. The Philadelphia Federal Reserve's survey of regional manufacturing activity fell to a reading of negative 30.
PEORIA, Ill. (AP) — Caterpillar says global sales of its heavy equipment grew 35 percent in July even though last year's numbers were strong. The world's largest maker of mining and construction equipment provided an update on sales Thursday in documents filed with the Securities and Exchange Commission.
DETROIT (AP) — General Motors confirmed Wednesday that it will build a luxury version of its Chevrolet Volt hybrid. The company said it is moving forward with the Cadillac ELR, which will run on electricity and carry a four-cylinder gasoline engine to generate power when the batteries run out of juice.
ZHUKOVSKY, Russia (AP) — Russian Prime Minister Vladimir Putin vowed Wednesday to keep the development of national aerospace industries a top priority for his government. Putin spoke at Moscow's International Aviation and Space Show at Zhukovsky air base outside the capital, saying that supporting aircraft makers will be an "absolute strategic priority.
WEST POINT, Ga. (AP) — Suppliers for the Kia Motors plant in West Point say they're considering expanding their workforces in preparation for the automaker's plan to construct the Optima sedan. The LaGrange Daily News reports (http://bit.ly/nVkuYl) that the Georgia plant is scheduled to begin producing the 2012 model-year Optima later this year.
CEDAR RAPIDS, Iowa (AP) — A top lobbyist representing the makers of corporate jets and other business aircraft is urging industry employees to tell President Barack Obama to stop criticizing their customers. Pete Bunce, president of the General Aviation Manufacturers Association, told employees of Rockwell Collins during a rally in Cedar Rapids on Wednesday they need to speak out in defense of their jobs.
JACKSONVILLE, Fla. (AP) — Florida will spend $2 million on three new training programs for seaport, air cargo and other international trade jobs. Workforce Florida, a public-private job-creation partnership, announced the Quick Response Training grants Wednesday in Jacksonville.
HUTCHINSON, Kan. (AP) — Renewable energy development in Kansas could help lure businesses to the state, Gov. Sam Brownback said. "I want Kansas to be known as the Renewable State," Brownback said. "To get there, we have to balance the three E's: Energy, Economy and the Environment.
EVERETT, Wash. (AP) — Boeing said Wednesday that it recently completed the flight tests required for type certification of its new 787-8 aircraft with Rolls Royce engines. The final flight occurred Saturday onboard the ninth 787 to be built. The 14-person crew completed emergency simulations during a 90-minute flight between Billings, Mont.
BDI (Bearing Distributors Inc.), headquartered in Cleveland, OH, announces the opening of a new branch in Mexico. The new office is located at Ave. Gonzalez Gallo #2968, Col. Mirador Alamo Industrial, Guadalajara, Jalisco CP 44896. Tel: (33) 3040-6040; Fax: (33) 3040-6045. Overseeing the new Guadalajara branch is Manager Victor Hugo Hernandez Trejo.
DES MOINES, Iowa (AP) — Polk County supervisors have approved a zero-interest loan and a grant to help with an expansion project at the Bridgestone Americas Tire Operations plant just north of Des Moines. KCCI-TV (http://bit.ly/qbKF5k ) says the board OK'd a $50,000 loan and a $50,000 grant to support the company's nearly $57 million project.
LAURINBURG, N.C. (AP) — A plant that makes Purell hand sanitizer is closing in Scotland County, leaving about 70 people out of work. The Fayetteville Observer reports (http://bit.ly/qAJNOh ) that production at QualPak LLC ended Friday. A spokesman for QualPak's parent company says a complete shutdown is expected by year's end.
NORTH CHICAGO, Ill. (AP) — Abbott Laboratories said Tuesday it will spend $230 million to build a powdered milk manufacturing facility in Jiaxing, China. Abbott said the plant will make nutritional products for infants and children. It will employ about 300 people when it goes into operation in 2013.
MINNETONKA, Minn. (AP) — Minnesota-based Cargill Inc. has resumed production of ground turkey at an Arkansas plant linked to a salmonella outbreak. Cargill spokesman Mike Martin says limited production has resumed after the U.S. Department of Agriculture approved additional anti-bacterial safety measures.
PORTLAND, Ore. (AP) — Electric car drivers will get a charge out of a block-long stretch of a downtown Portland street that's been dubbed "Electric Avenue," and it may also help the automotive industry and others make important decisions as the use of electric cars evolves. Seven electric charging stations from six different manufacturers have been installed at Portland State University as part of a two-year study that will examine which chargers get the most use, who's plugging in, and what they do while their car drinks up a charge.
WASHINGTON (AP) — Companies paid higher prices for tobacco, pickup trucks and pharmaceuticals in July, driving underlying wholesale inflation up by the most in six months. This measure of inflation, which excludes volatile food and energy prices, is known as the core Producer Price Index.
WASHINGTON (AP) — Federal regulators are unlikely to block Google Inc. from buying cellphone maker Motorola Mobility since the acquisition could help drive competition in the fast growing mobile device market. But the deal comes as Google faces scrutiny in the U.S. and overseas from antitrust regulators concerned that the Web search giant may be abusing its clout as a major gateway to the Internet to muscle its way into new businesses and stifling competition in the process.