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IMPO Insider

Daily industrial news and top headlines for plant and maintenance managers

Analysts Cautious About Dell-Perot Deal

September 22, 2009 5:11 am

NEW YORK (AP) — Analysts are keeping a cautious eye on Dell Inc.'s planned $3.9 billion acquisition of Perot Systems Corp., a deal aimed at moving the company beyond personal computers and into technology services. Credit Suisse analyst Bill Shope cut his rating on the company to "Neutral" from "Outperform" in a note to investors Tuesday, a day after the deal was announced.

Pratt & Whitney To Cut 1,000 CT Jobs

September 22, 2009 4:51 am | by Stephen Singer, AP Manufacturing Writer

EAST HARTFORD, Conn. (AP) — Jet engine maker Pratt & Whitney said Monday it will eliminate 1,000 jobs in Connecticut by 2011, transferring engine repair work to Georgia and Asia in a cost-cutting move. The subsidiary of United Technologies Corp. will shut its Cheshire, Conn.

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Startup To Build Electric Vehicles In Oregon

September 22, 2009 4:45 am | by Tim Christie, AP Writer

EUGENE, Ore. (AP) -- Tucked away in a nondescript garage off an unpaved alley in Eugene's Whiteaker neighborhood, a group of young entrepreneurs is trying to catch the next wave of human transport by building an affordable, rechargable electric vehicle. The company is called Arcimoto, and it will unveil a prototype of its first vehicle, the Pulse, on Wednesday at Pioneer Square in downtown Portland.

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VW May Drop Magna Due To Opel Deal

September 22, 2009 4:33 am | by Yuri Kageyama, AP Business Writer

TOKYO (AP) — The chief executive of the Canadian parts maker that is buying a stake in Opel from General Motors said Tuesday talks are planned with Volkswagen to ease the German automaker's concerns about the deal. "Volkswagen has said they are concerned, so we need to finalize internal procedures and have more discussions with them," Don Walker, co-chief executive officer of Magna International Inc.

Mitsubishi To Build $325m Plant In Georgia

September 22, 2009 4:29 am | by Russ Bynum, Associated Press Writer

POOLER, Ga. (AP) — After sitting vacant for seven years, a 1,500-acre industrial site near Savannah landed its first manufacturer Monday as Mitsubishi Power Systems announced plans to produce giant steam and gas turbines in coastal Georgia. The company said it will begin construction before the end of the year on a $325 million plant that will employ about 500 workers.

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Cleveland Firm Seeks Syracuse Steel Plant

September 22, 2009 4:23 am

SYRACUSE, N.Y. (AP) — A Cleveland investment group is offering the highest bid for an upstate New York steel mill going through bankruptcy reorganization. The group headed by Jack Jankovic of JP Industries says it would pay $8 million for the Crucible Specialty Metals steel plant in suburban Syracuse.

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Retired Deere Workers Sue For Health Benefits

September 22, 2009 4:19 am

DAVENPORT, Iowa (AP) — About 5,000 retired workers are suing Deere and Co. for changes to their health benefits plan, saying the agricultural machinery manufacturer broke its promises. An attorney for the Flex Retirees Organization says in U.S. District Court in Davenport that the retirees thought they and their spouses would have medical benefits for life.

Doosan, Bobcat Struggle With High Debt

September 21, 2009 4:41 am

BISMARCK, N.D. (AP) — An analyst says the parent company of Bobcat Co., has been hurt by a global economic slump and by debt it took on when it purchased Bobcat two years ago. Bobcat, of West Fargo, has announced plans to close its Bismarck plant by the end of the year and consolidate its work to Gwinner, in southeastern North Dakota.

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Nektar To Collect $1.12b from AstraZeneca

September 21, 2009 4:16 am

NEW YORK (AP) — Nektar Therapeutics said Monday it licensed a pair of experimental pain treatments to AstraZeneca PLC in a deal valued at about $1.12 billion. AstraZeneca will pay Nektar $125 million upfront for the rights to two drugs: NKTR-118, an oral product intended to treat constipation caused by opioid pain drugs, and NKTR-119, which is intended to combine NKTR-118 with opioid pain drugs to create a painkiller that doesn't cause constipation.

EU Details Intel's Illegal Monopolizing

September 21, 2009 4:06 am | by Aoife White, AP Business Writer

BRUSSELS (AP) — The European Union on Monday published e-mail excerpts from computer makers and Intel Corp. to show that Intel pressured chip buyers into choosing Intel over rival Advanced Micro Devices Inc. Intel was hit by a record EU antitrust fine of euro1.06 billion ($1.45 billion) last May for what the EU said was using strong-arm sales tactics such as threatening to withdraw price rebates to squeeze out AMD.

CAW Workers At GM-Suzuki Plant OK Contract

September 21, 2009 3:56 am

NEW YORK (AP) — Nearly two-thirds of union workers at a Canadian auto plant jointly owned by General Motors and Suzuki have approved a new contract that would freeze wages and pensions, trim benefits, introduce a monthly health care contribution and reduce break times. However, the new contract at the CAMI Automotive Inc.

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BMW Expects Production Increase Despite Economy

September 21, 2009 3:53 am

FRANKFURT (AP) — German carmaker BMW AG said it wants second half 2009 production levels to match levels of the second half of 2008, despite the dramatic sales declines experienced in the first half of this year. The Munich-based carmaker told German weekly Automobilwoche the company "wouldn't build fewer cars in the second half of 2009, compared to the year-ago period.

GM, Chrysler Demand Tax Breaks In Michigan

September 21, 2009 3:47 am

DETROIT (AP) — Governments and schools across Michigan are bracing for the possible loss of millions of dollars in tax revenue as General Motors Co. and Chrysler Group LLC argue that they should pay less in property taxes. GM and Chrysler say their property taxes are inflated by more than 50 percent because local communities overestimate the value of their plants and buildings.

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Fike Announces Free CA Combustible Dust Hazard Seminars

September 18, 2009 10:28 am

Blue Springs , MO — Fike, a leader in industrial and explosion protection safety solutions, is sponsoring two Explosion Protection Seminars: Concord, California on September 29, 2009; and Pomona, California on October 1, 2009. The primary focus of these educational seminars is the protection of facilities against potential combustible dust explosion hazards, and explosion mitigation techniques use to help provide a safe workplace.

Methane Explosion Kills 12 In Polish Mine

September 18, 2009 4:22 am

WARSAW, Poland (AP) — A methane leak in a Polish coal mine set off an explosion that killed 12 miners on Friday, officials said. Edyta Tomaszewska, a spokeswoman for the state body that oversees Polish coal mining, said the explosion occurred 3,450 feet (1,050 meters) underground at the mine in the southwestern city of Ruda Slaska.

Opel To Funnel GM Technology To Russia

September 18, 2009 4:14 am | by Tom Krishner, AP Auto Writer

DETROIT (AP) — Last week's deal for General Motors to give up control of its money-losing Opel unit has a big downside: If the deal goes through, Russian automaker GAZ will get its hands on GM technology. Worse yet, GAZ, with cars that are light years behind most global automakers in quality as well as engines, transmissions and other technology, is likely to use what it gets from GM to compete against the Detroit automaker's Chevrolet brand in Russia.

Coca-Cola, IBM Top List Of Trusted Brands

September 18, 2009 4:10 am | by Emily Fredrix, AP Marketing Writer

Consumers lost trust in brands this year as the recession deepened, according to an industry report released Thursday, although longtime staples Coca-Cola and IBM retained their spots as the world's two most valuable brands. This is the first time the combined value of the world's top 100 brands as ranked by Interbrand, a branding agency, has fallen in the 10 years Interbrand has assessed them.

Canadian Abitibi Loses 1,500 In Streamlining

September 18, 2009 3:59 am

MONTREAL — AbitibiBowater announced Thursday that it will suspend production indefinitely at several Canadian and U.S. mills in a corporate streamlining that will affect about 1,500 Canadian workers. The cuts, which begin Oct. 31, reflect the insolvent newsprint giant's restructuring efforts under the bankruptcy protection laws in Canada and the United States.

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LA Scoops Up $670,000 From Pfizer Fine

September 18, 2009 3:54 am

BATON ROUGE, La. (AP) — A judge's approval of a settlement agreement between the state and Pfizer Inc. means Louisiana will receive more than $670,000 from the drug maker over alleged improper marketing of an antipsychotic drug. Louisiana was among the states that reached a $33 million settlement with Pfizer, the world's largest drug manufacturer.

Congress Approves Green Vehicle Funding

September 16, 2009 12:07 pm | by Ken Thomas, Associated Press Writer

September 16, 2009 WASHINGTON (AP) — Targeting more federal money to support the auto industry, the House on Wednesday approved an expansion of U.S. government-led research into making cars and trucks more fuel-efficient. The House plan would allow the Energy Department to spend up to $200 million more each year on research and development for advanced-technology vehicles and auto parts.

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