News
FREE Email Newsletter
Daily industrial news and top headlines for plant and maintenance managers
ITW To Acquire Meurer Group
June 10, 2013 10:21 am | CommentsIllinois Tool Works Inc. (NYSE: ITW) has announced that it has signed a Definitive Purchase Agreement to acquire 100 percent of the Meurer Group located in Furstenau Germany. Meurer is a well-known supplier of secondary packaging equipment to the FMCG (Fast Moving Consumer Goods) markets worldwide.
American Auto Industry About To Go On A Hiring Spree
June 10, 2013 10:15 am | by Tom Krisher, AP Auto Writer | CommentsThe new employees will be part of a larger, busier workforce. From coast to coast, the industry is in top gear. Factories are operating at about 95 percent of capacity, and many are already running three shifts. As a result, some auto and parts companies are doing something they've been reluctant to consider since the recession: Adding floor space and spending millions of dollars on new equipment.
IEA: Energy Emissions Rose To Record High In 2012
June 10, 2013 10:13 am | by Karl Ritter, Associated Press | CommentsThe world's energy-related carbon dioxide emissions rose 1.4 percent in 2012 to a record high of 31.6 billion tons, even though the U.S. posted its lowest emissions since the mid-1990s, the International Energy Agency said Monday. In its annual World Energy Outlook report, the Paris-based IEA said top carbon polluter China had the largest emissions growth last year, up 300 million tons, or 3.8 percent, from 2011.
GM To Lay Off 560 To Retool Engine Plant
June 10, 2013 10:11 am | by The Associated Press | CommentsGeneral Motors is laying off 560 workers while it retools an engine plant near Detroit to build a new motor. GM says layoffs at the Romulus, Mich., factory will start in August and run to late 2015. The company is rebuilding the inside of the factory to make a new, more efficient V-6 engine.
U.S. Investigates Honda Minivans For Air Bag Trouble
June 10, 2013 10:09 am | by Tom Krisher, AP Auto Writer | CommentsU.S. safety regulators have added about 320,000 older model Honda Odyssey minivans to a widening probe of faulty air bags that affects at least three automakers and more than 2 million vehicles. Front air bags on the Honda Motor Co. minivans from the 2003 and 2004 model years can inflate without a crash, possibly injuring drivers and passengers.
Shuttered GM Plant To Be Razed In Downtown Indy
June 10, 2013 10:08 am | by The Associated Press | CommentsA shuttered General Motors Corp. stamping plant that once employed more than 6,000 workers near downtown Indianapolis will be demolished this fall after failing to attract a buyer. The property owner's redevelopment manager said that after consulting with commercial real estate experts, it was clear the 102-acre site's well-worn buildings were hampering efforts to sell the property.
Bangladesh: 7 Failed To Check Doomed Factories
June 10, 2013 10:06 am | by Farid Hossain, Associated Press | CommentsBangladesh has suspended seven inspectors it accuses of negligence for renewing the licenses of garment factories in a building that collapsed in April, killing more than 1,100 people, a top Labor Ministry official said Monday. The official, Mikail Shipar, said a ministry investigation found that the inspectors never even visited the five factories housed in the shabbily built eight-story Rana Plaza building.
Exxon Mobil Seeks Dismissal Of Lawsuit Over Spill
June 7, 2013 12:37 pm | by The Associated Press | CommentsAttorneys for Exxon Mobil Corp. and Exxon Pipeline Co. have filed a motion asking for dismissal of a lawsuit by Mayflower residents over a recent oil spill. ExxonMobil Pipeline's Pegasus pipeline ruptured March 29 and spilled thousands of barrels of oil in the town about 25 miles northwest of Little Rock and forced the evacuation of about 20 homes.
Sporty New Corolla Aimed At Youthful Buyers
June 7, 2013 12:36 pm | by Tom Krisher, AP Auto Writer | CommentsThe Toyota Corolla, an aging, stodgy but reliable economy car, is getting a radical new look. The world's largest automaker rolled out a new version of the compact Thursday night at a splashy event in Santa Monica, Calif., hoping to shed the old version's low-cost image and attract new, younger buyers to its brand.
Royalty Pharma Raises Offer To Buy Drugmaker Elan
June 7, 2013 12:34 pm | by Tom Murphy, AP Business Writer | CommentsShares of Elan Corp. PLC jumped Friday after Royalty Pharma once again raised its offer to buy the Irish drugmaker in an increasingly bitter takeover fight. Royalty said it will now pay $13 in cash for each Elan share, and it will give stockholders the right to receive up to an additional $2.50 per share in milestone-based payments. That's up from a previous bid of $12.50 per share.
Nixon Announces Incentives For MO Company
June 7, 2013 12:33 pm | by The Associated Press | CommentsA southeast Missouri business that makes chrome-plated plastic auto parts is receiving state aid to train its employees. Gov. Jay Nixon said Thursday that Missouri is providing up to $809,000 of job training services for 350 employees at SRG Global in Portageville. He says the training incentives are part of a $4.2 million capital investment by the company.
Arraignment In Kevlar Trade Secrets Case Postponed
June 7, 2013 12:31 pm | by The Associated Press | CommentsA South Korean company's arraignment on charges of stealing the Kevlar body armor recipe from the DuPont Co. has been postponed. Kolon Industries was set for arraignment Friday in U.S. District Court in Richmond. That hearing has been changed to a status conference.
May U.S. Jobs Report In Spotlight At Time Of Concern
June 7, 2013 12:30 pm | by Christopher S. Rugaber, AP Economics Writer | CommentsThe government's release Friday of the May jobs report comes at a time of anxiety over the U.S. economy and whether the Federal Reserve will soon scale back its extraordinary support. Economists expect another month of job gains roughly in line with April's increase of 165,000. The unemployment rate is expected to remain at 7.5 percent, a four-year low but still historically high.
U.S. Treasury Sets Price For GM Stock Shares
June 7, 2013 11:02 am | by Martin Crutsinger, AP Economics Writer | CommentsThe U.S. Treasury Department on Thursday set a price of $34.41 per share for the sale of 30 million shares of General Motors stock. Treasury said the sale will result in aggregate proceeds to the government of $1.03 billion. A United Autoworkers retiree health care trust fund was selling 20 million of its GM shares as well, bringing total sales to 50 million shares.
IN Pushes Ahead With Fertilizer Plant
June 7, 2013 11:02 am | by The Associated Press | CommentsThe Pakistan-based developers of a fertilizer plant have won a southwestern Indiana county's initial approval for the project, weeks after the state pulled its support. Posey County's Board of Commissioners and Council voted last week to give preliminary approval to Midwest Fertilizer Corp. for its proposed plant, including a $1.3 billion bond issue to help finance the project in the county just west of Evansville.
