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IMPO Insider

Daily industrial news and top headlines for plant and maintenance managers

Higher Sales Lift RTI International To 3Q Profit

November 1, 2011 9:46 am

PITTSBURGH (AP) — RTI International Metals Inc., which makes and supplies titanium mill products, said Tuesday that it swung to a third-quarter profit as revenue spiked 40 percent higher. The company, based in Pittsburgh, said demand for titanium remains strong as production increases announced at aircraft makers Boeing and Airbus offset weakness in the defense industry.

Ex-Delphi Chief To Pay $215K In SEC Case

November 1, 2011 9:43 am

DETROIT (AP) — The former chief executive of auto-parts maker Delphi has been ordered to pay $215,000 for misrepresenting a financial transaction with General Motors back in 2000. The decision Monday by Detroit federal Judge Avern Cohn comes months after a jury said J.T. Battenberg III was liable for bookkeeping errors and misrepresentations to accountants.

AT&T Announces First Phones For New Network

November 1, 2011 9:41 am | by Peter Svensson, AP Technology Writer

NEW YORK (AP) — The first two phones to run on AT&T's new high-speed data network will go on sale Sunday. The phones are the HTC Vivid and the Samsung Galaxy S II Skyrocket. Both are big touchscreen smartphones that run Google Inc.'s Android software. They'll cost $200 and $250 respectively, with a two-year service contract requirement.

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Despite Debt Deal, Europe May Enter Recession

November 1, 2011 9:39 am | by David McHugh, Paul Wiseman, AP Business Writers

FRANKFURT, Germany (AP) — Even if Europe dodges a financial meltdown, it may not be able to avoid a recession. The deal European leaders reached last week to defuse the continent's debt crisis was thrown into turmoil Tuesday by the Greek prime minister's surprise move to call a referendum on Greece's latest rescue package.

Trucks, SUVs Power Strong Auto Sales

November 1, 2011 9:36 am

DETROIT (AP) — Car buyers were out in force in October, snapping up trucks and SUVs and taking advantage of deals on Japanese cars. U.S. car and truck sales were expected to top 1 million in October, a surprising number for a month when sales are usually slow. When adjusted for seasonal factors, that would be the best pace since the Cash for Clunkers program in August 2009.

Diamond Maker Moving To SC

November 1, 2011 5:24 am

COLUMBIA, S.C. (AP) — South Carolina officials say a new cultivated diamond facility in Greenville County is expected to create 70 jobs. Gov. Nikki Haley said Monday that Scio (SIGH'-oh) Diamond Technology Corp.'s decision to establish its corporate headquarters and manufacturing operations in South Carolina shows the state's competitiveness as a place for businesses to locate.

Amtrak Says It Has No Beef With Cow-Powered Train

November 1, 2011 5:22 am

OKLAHOMA CITY (AP) — Amtrak officials say they have no beef with using cattle-based biodiesel to power their Heartland Flyer train. The railroad said Monday that a mix of beef tallow and diesel fuel effectively powered the passenger train's 3,200-horsepower engine. Following a yearlong test on the rails between Oklahoma City and Fort Worth, Texas, an evaluation found that the fuel blend met industry standards, engine wear was limited and emissions were below federal limits for the type of engine using it.

World Economy Needs China To Slow Growth Gradually

November 1, 2011 5:19 am | by Paul Wiseman, AP Economics Writer

SHANGHAI (AP) — China's high-flying economy is starting to lose altitude. The big question is whether the world's economic superstar will shrink gradually — or so fast that it harms a fragile global economy. China's comedown is being engineered by its policymakers. They want to slow expansion just enough to cool inflation without sapping job growth.

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Metal Prices Fall After Big October Rally

November 1, 2011 5:17 am

NEW YORK (AP) — Metals prices started the week lower as investors sold contracts to reap gains from this months' rally. Gold and silver fell Monday, as did industrial metals like copper and palladium. The price of copper shot up 15 percent last week and gold jumped nearly 7 percent.

Security Firm: Hackers Hit Chemical Companies

November 1, 2011 5:15 am | by Joe McDonald, AP Business Writer

BEIJING (AP) — Cyber attacks traced to China targeted at least 48 chemical and military-related companies in an effort to steal technical secrets, a U.S. computer security company said Tuesday, adding to complaints about pervasive Internet crime linked to this country. The targets included 29 chemical companies and 19 others that make advanced materials used by the military, California-based Symantec Corp.

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Toyota Robots Help Sick, Elderly Move

November 1, 2011 5:13 am | by Yuri Kageyama, AP Business Writer

TOKYO (AP) — Toyota unveiled its ambitions for high-tech health care Tuesday, displaying experimental robots that the auto giant says can lift disabled patients from their hospital beds or help them walk. The company aims to commercialize products such as its "independent walk assist" device sometime after 2013 — seeking to position itself in an industry with great potential in Japan, one of the world's most rapidly aging nations.

American Axle 3Q Profit Falls 36 Percent

October 31, 2011 9:17 am

DETROIT (AP) — American Axle & Manufacturing Holdings Inc., a supplier to General Motors Co., said Friday that third-quarter earnings fell 36 percent, weighed down by costs related to closing two plants. The company's shares fell 43 cents, or 4.4 percent, to $9.51 in afternoon trading.

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Smartphone Maker HTC Reports Profit Jump

October 31, 2011 9:16 am

TAIPEI, Taiwan (AP) — Taiwan smartphone maker HTC Corp. says its third quarter earnings grew 68 percent from the same period last year, with shipments reaching 13 million handsets. The company said Monday net profit for the July-September quarter amounted to New Taiwan dollars 18.

Workers Try To Turn Asian Carp Into Fertilizer

October 31, 2011 9:14 am

LASALLE, Ill. (AP) — Workers along the Illinois River are hunting for invasive fish to turn into organic fertilizer, fillets and other commercial products. The hope is to reduce the population of Asian carp threatening the Great Lakes. Originally imported to cleanse ponds in the South, Asian carp made it into Mississippi River waterways and have traveled north.

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ITT Completes Split Into 3 Separate Companies

October 31, 2011 9:12 am

WHITE PLAINS, N.Y. (AP) — ITT Corp. said Monday that it has completed its breakup into three separate companies so that it can focus on its more profitable businesses. With the spinoffs complete, ITT said it is now a company that provides parts and services to the industrial, aerospace, transportation and oil and gas markets.

Japanese Manufacturers See Profit Halved

October 31, 2011 9:10 am

TOKYO, Oct. 31 (Kyodo) — Among 282 major Japanese companies which had released their earnings reports for the April-September term by last Friday, manufacturers logged a 50.3 percent year-on-yen plunge in net profit as the March 11 earthquake and tsunami affected production, SMBC Nikko Securities Inc.

Honda To Cut U.S., Canada Production By Half

October 31, 2011 9:07 am | by Malcolm Foster, Tom Krisher, Associated Press

DETROIT (AP) — Parts shortages from three months of catastrophic flooding in Thailand have forced Honda to cut U.S. and Canadian factory production by 50 percent for the second time this year, the automaker said Monday. The cuts, which come just as Honda was recovering from the March 11 earthquake and tsunami in Japan, will run from Wednesday at least through Nov.

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Laid Off Cargill Workers Return In AR

October 31, 2011 5:35 am

SPRINGDALE, Ark. (AP) — The Cargill Inc. plant that was the subject of two recalls of ground turkey hasn't set a date for resuming production of the product but has brought back 40 of 130 workers the company laid off. The Springdale plant has about 1,200 employees and — at full production — processes 7 million pounds of finished turkey products each week, ranging from whole birds to turkey breasts to ground products.

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Samsung Passes Apple In Phone Sales

October 31, 2011 5:32 am | by Barbara Ortutay, AP Technology Writer

NEW YORK (AP) — For the first time, Samsung Electronics Co. shipped more smartphones in the latest quarter than tech industry darling Apple Inc. On the surface, this may look like a big upset in a world that gives the iPhone maker adulation and outsized expectations. The real reason, however, has more to do with timing and Samsung's variety of offerings and prices.

In CT, Manufacturing Jobs Go Begging

October 31, 2011 5:26 am | by Harlan Levy

MANCHESTER, Conn. (AP) — Lalit Radia and his wife, Bina, who moved recently to Glastonbury from India, were in the waiting room of GE Aviation's Parker Street plant on Thursday with applications for machinist jobs. Each has 10 years' experience in a paper and printing plant, and they're hoping to get two of the 10 machinist and welding jobs that GE Aviation's Parker Street and Adams Street plants have been trying to fill for several months without success.

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