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IMPO Insider

Daily industrial news and top headlines for plant and maintenance managers

Cooper Tire Ends Buyout Agreement With India's Apollo

December 30, 2013 10:00 am | by The Associated Press

Cooper Tire & Rubber Co. is calling off its proposed $2.2 billion sale to India's Apollo Tyres, a deal that would have created the world's seventh largest tire company. The U.S.-based company said Monday that financing is no longer available, and it continues to claim, as it has for months, that Apollo breached the terms of the agreement.

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Samsung Sells 110-Inch Ultra-HD TV For $150,000

December 30, 2013 9:58 am | by Youkyung Lee, AP Technology Writer

Demand for U-HD TVs is expected to rise despite dearth of content while its price will likely come down faster than that of the OLED TVs. Much of the growth is forecast to come from China, a major market for the South Korean TV makers. Chinese TV makers have been making a push into the U-HD TV market as well.

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NJ Man Sues Electric Motorcycle Co. He Co-Founded

December 30, 2013 9:55 am | by The Associated Press

Fort Lee resident Vincent Ip co-founded Mission Motorcycles of San Francisco. The company makes high-end, electric-powered motorcycles that Time magazine calls one of the top inventions of 2013. Ip was terminated in November for what the company's lawsuit calls unprofessional behavior including physical threats.

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VW: 123,000 New Jobs Created Since 2007

December 30, 2013 9:53 am | by Joel Hans, Managing Editor, Manufacturing.net

Volkswagen Group announced today that it has grown by about 248,000 employees, representing a rise of 76 percent, since 2007. 123,000 of those are new jobs created around the world, and 125,000 are from employees of companies acquired during that period and integrated into the larger group. At the end of 2013, the company has about 573,000 employees, the highest number in its history.

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Gun Magazine Supplier Expands In Iowa College Town

December 30, 2013 9:46 am | by Ryan J. Foley, Associated Press

With demand for gun products booming, Brownells Inc. is building a large distribution and retail center along Interstate 80 in Grinnell. The central Iowa city of 9,100 is home to Grinnell College, a selective liberal arts institution proud of its commitment to social justice. 

ThyssenKrupp Sells Massive $5 Billion Ala. Mill

December 27, 2013 9:40 am | by Melissa Nelson-Gabriel, Associated Press

News that ThyssenKrupp planned to sell the $5 billion mill just five years after it opened sent a ripple through the region, which depended on well-paying jobs related to the mill throughout the economic downturn. ThyssenKrupp has said its plan to import steel slabs from its plant in Brazil fell apart because of the recession and increasing production costs in Brazil.

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Labor Dept. Approves Help For Displaced Vt. IBM Workers

December 27, 2013 9:38 am | by The Associated Press

The U.S. Department of Labor authorized former employees of the Williston IBM plant and some other businesses involved in memory design services in that town to participate in a program designed to help workers who have lost their jobs due to foreign competition, state officials said Thursday.

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Cambodian Garment Workers Block Traffic Over Pay

December 27, 2013 9:35 am | by The Associated Press

Striking workers making shoes and clothes for Western brands have blocked roads and briefly scuffled with police in Cambodia.                                    

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Mary Barra, A Child Of GM, Prepares To Lead It

December 27, 2013 9:31 am | by Dee-Ann Durbin and Tom Krisher, AP Auto Write

In 33 years at GM, Barra has worked in engineering, communications and human resources. She's gained in-depth knowledge of a company whose complexity contributed to its losing ground to rivals and, four years ago, a trip through bankruptcy court. In each stop, Barra analyzed the situation and simplified things. For instance, she streamlined designs by using the same parts in many different models.

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Eastern Ill. Employee Shoots Boss, Kills Self

December 27, 2013 9:28 am | by The Associated Press

A longtime eastern Illinois chemical plant employee shot his company's CEO during a performance evaluation, before committing suicide when he turned a handgun on himself.                       

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Beechcraft To Be Bought By Cessna Parent Company

December 27, 2013 9:27 am | by The Associated Press

Cessna Aircraft parent company Textron Inc. said Thursday it will buy Beechcraft Corp. for approximately $1.4 billion, a deal that would combine two mainstays of Wichita's general aviation industry.               

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BlackBerry Co-founder Trims Stake After Huge Loss

December 26, 2013 9:50 am | by The Associated Press

BlackBerry co-founder Michael Lazaridis has trimmed his stake in the troubled smartphone pioneer to just below 5 percent after selling 3.5 million shares during the past two days.  The sales disclosed in a Tuesday regulatory filing came after BlackBerry Ltd. announced a third-quarter loss of $4.4 billion last week.

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Rifle Designer Mikhail Kalashnikov Dead At 94

December 26, 2013 9:39 am | by Jim Heintz, Associated Press

Kalashnikov once aspired to design farm equipment. But even though his most famous invention — the AK-47 assault rifle — sowed havoc instead of crops, he often said he felt personally untroubled by his contribution to bloodshed. "I sleep well. It's the politicians who are to blame for failing to come to an agreement and resorting to violence," he said in 2007.

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Hyundai, Kia To Pay Millions In Fuel Settlement

December 26, 2013 9:35 am | by The Associated Press

Hyundai and its sister company Kia say they'll pay up to $395 million to consumers as part of a proposed settlement over overstated gas mileage.  The automakers faced lawsuits after they acknowledged in November that they had overstated the fuel economy of some of its vehicles. 

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U.S. Durable Goods Orders Jumped 3.5 Pct. In Nov.

December 26, 2013 9:31 am | by Martin Crutsinger, AP Economics Writer

The surge in orders for durable goods, which are products expected to last at least three years, was the latest evidence of a rebound in manufacturing. The gains will likely provide support for the economy into 2014.          

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$40 Million Fund Created For Bangladesh Victims

December 26, 2013 9:22 am | by The Associated Press

The fund, estimated at $40 million, would compensate injured workers and dependents of those of who died, according to a statement by the organizers of the fund.                          

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Wash. Governor Met With Airbus Executive

December 26, 2013 9:18 am | by Mike Baker, Associated Press

The private gathering occurred in October during an aerospace conference in Seattle, Inslee spokesman David Postman said on Monday after The Associated Press identified the meeting in records obtained under public records law. Postman said the governor talked with Barry Eccleston, the president and CEO of Airbus Americas, for about 20 minutes.

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Westmoreland To Buy Coal Operations For $435M

December 24, 2013 11:55 am | by The Associated Press

Westmoreland Coal Co. said Tuesday that it has agreed to buy the coal mining operations of Sherritt International Corp. for about $435 million which will help it expand its operations in Western Canada. The Englewood, Colo., company said the deal will double its business and make it the sixth largest coal producer in North America.

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Owner Plans To Open Hopewell Bio-Fuel Plant

December 24, 2013 11:50 am | by The Associated Press

The owner of a bio-fuel plant in Hopewell plans to open the facility instead of dismantling it. Vireol Bio-Industries had planned to ship the plant's equipment to its plant in England.                    

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Ally Paying $98M To Resolve U.S. AutoLoan Claims

December 24, 2013 11:46 am | by Marcy Gordon, AP Business Writer

Ally is paying $80 million in damages to about 235,000 African-American, Hispanic and Asian and Pacific Islander borrowers, and $18 million in penalties. The higher rates were charged on auto loans between April 2011 and December 2013, according to the government.

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