STURTEVANT, Wis. (AP) — An Italian paper and packaging company is opening its first North American headquarters in Racine with a promise to create 189 new jobs. The Journal Times in Racine reports Thursday that Seda International Packaging Group says it will invest $76 million in its Racine operation.
BEIJING (AP) — Rumors on the Web that a major Chinese dairy company's baby formula might harm infants played on the worst fears of jittery parents after a string of scandals over tainted milk. This week, China's biggest milk producer, Mengniu, announced that the rumors targeting rival dairy Yili in July were manufactured by a Mengniu manager in what it said was a bizarre plot to boost his sales.
MORRISTOWN, N.J. (AP) — Honeywell International Inc. says third-quarter net income fell 18 percent because of a charge for pension expenses. But the technology and manufacturing company beat Wall Street estimates and it boosted its earnings forecast for the year. The company says revenue grew 9 percent, to $8.
LOS ANGELES (AP) — A Southern California company and two of its executives were indicted Thursday on conspiracy charges, accused of bribing government officials at Mexico's state-owned utility in exchange for obtaining lucrative contracts. Keith Lindsey, president of Lindsey Manufacturing Co.
PEORIA, Ill. (AP) — Caterpillar Inc. said Friday it is buying a German engine maker, MWM Holding GmbH, from private-equity firm 3i for 580 million euros, or about $810 million, in cash. Caterpillar, the world's largest maker of construction and mining equipment, said the deal will help it significantly expand options for customers of its electric power division.
The Food and Drug Administration is looking into a produce contamination case linked to a shuttered Texas processing plant and may decide to expand a recall, an agency official told The Associated Press. Texas health officials shut down the SanGar Produce & Processing Co. plant in San Antonio and ordered a recall of all of the produce that had passed through the plant since January.
RACINE, Wis. — Master Applicance , a designer and manufacturer of heat tools for industrial purposes, has announced a new YouTube channel, which can be found here . In addition, the company has released its first video, titled "Replacing A Defective Capacitor on an IMac G5 Motherboard.
AUBURN HILLS, Mich. (AP) — Chrysler Group LLC is starting to pick dealers to sell Fiats in the U.S. when the Italian-designed cars start arriving in December. The automaker said Wednesday that it wants Fiat dealers in 119 U.S. markets — mostly in areas that have a high number of small-car registrations — and will name more dealers by year's end.
NEW YORK (AP) — The first big-name competitor to the iPad in the U.S. won't be undercutting it in price. Verizon Wireless on Wednesday said it will start selling Samsung Electronics Co.'s tablet computer, which is half the size of the iPad, for $600. That's more than the basic version of Apple Inc.
Meritex announced today a new 30,700 square foot lease to Iosil Energy Corporation, located in Groveport, Ohio. Iosil, an Albuquerque, New Mexico based company, is an innovator in solar technology and chose Columbus, Ohio for its new pilot manufacturing plant. The company plans to create 20 new to the region engineering and manufacturing jobs in its production of high purity polysilicon, the essential raw material for solar cells.
MINNEAPOLIS (AP) — It's getting harder to make a buck in the planes-and-missiles business. Even as the big defense contractor Lockheed Martin was explaining why its third-quarter profit shrank 28 percent, British Prime Minister David Cameron was laying out sweeping defense cuts on Tuesday.
MINNEAPOLIS (AP) — Boeing posted an $837 million third-quarter profit on Wednesday and raised its profit guidance for the full year as it sold more commercial airplanes. Boeing has already made plans to raise production rates on the 737, its best-selling plane. The improved 2010 guidance reflects a strong outlook for commercial planes.
WASHINGTON (AP) — Baby gear maker Graco is recalling about 2 million strollers after receiving reports that four infants died in the strollers. The Consumer Product Safety Commission, which announced the recall Wednesday, said the four infants became trapped inside the strollers and were strangled.
BEIJING (AP) — China raised its key interest rate Tuesday for the first time since the global crisis as it tries to control inflation and rapid growth even as other Asian economies move to keep their recoveries on track. The rate hike, China's first since 2007, reflected Beijing's focus on guiding growth to a more sustainable level rather than reving up the economy after it expanded by 10.
WASHINGTON (AP) — Aerospace giant Boeing is joining the list of companies that say the new health care law could have a potential downside for their workers. In a letter mailed to employees late last week, the company cited the overhaul as part of the reason it is asking some 90,000 nonunion workers to pay significantly more for their health plan next year.