U.S. Steel says it lost $73 million in the first quarter because of tough competition and rising prices. A year ago it made money in its flat-rolled steel segment, but that was a money-loser in the most recent quarter. Production costs rose, but selling prices didn't.
Subaru is recalling just over 10,000 of its 2014 Forester wagons because the floor mats can interfere with the clutch, brake or gas pedals. The recall affects Foresters made from January 2013 through March. The company says the floor mats can curl when exposed to heat.
The Disston Company’s CEO and President, Stephen Chen, purchased a 130,000 square foot industrial building in Chicopee, company spokesperson, Mark Marzeotti, today announced. Disston is a manufacturer of saw blades, drill bits, and other hand and power tool-related accessories for the DIY, contractor, and industrial markets. Its brands include Blu-Mol, RemGrit, Aggressor, and Blu-Mol Xtreme.
Intelligrated®, a leading North American-based automated material handling solutions provider, today announces the appointment of Bob Wilson to the position of vice president, international division, Intelligrated. Based in Mason, Ohio, Wilson will oversee international sales and operations.
With the backdrop of an uncertain economy, shrinking unions and company cost-cutting, Goodyear and the Steelworkers are negotiating on a new national contract covering 8,000 tire workers at six plants. The first round of talks in Cincinnati ended Thursday and recessed.
Weak sales in Europe and lower profits at U.S. partner Chrysler pushed Italian carmaker Fiat to a loss in the first quarter. Fiat SpA on Monday said it lost 83 million euros ($108 million) during the first three months of the year, compared with a restated first-quarter profit of 35 million euros in the same period of 2012.
Hostess Brands LLC said Monday that it will open bakeries in Indiana and Illinois, following announcements last week that it will reopen bakeries in Georgia and Kansas in its effort to bring back some of its snack brands. The predecessor to Hostess Brands filed for bankruptcy protection in 2012 after years of turmoil and later decided to go out of business after a nationwide strike crippled its operations.
A Bangladesh court on Monday gave police 15 days to interrogate the owner of a building that collapsed last week, killing at least 382 people, as rescuers used heavy machinery to cut through the destroyed structure after giving up hopes of finding any more survivors.
Of the 180 facilities in Arkansas that are listed as storing fertilizer, just one has both anhydrous ammonia and ammonium nitrate, according to the Arkansas Department of Agriculture. The two compounds were stored at a Texas fertilizer plant where a deadly explosion occurred April 17.
Honda is recalling nearly 46,000 Fit Sport small cars in the U.S. and Canada to fix a problem with the electronic stability control system. The recall affects cars from the 2012 and 2013 model years. Honda says the stability control system can let the car tilt too far before it applies the brakes to prevent a crash.
After weeks of fiery rhetoric, military posturing and threats that it's willing to strike back hard if provoked, North Korea appears to be taking a bit of a breather. The U.S.-South Korea war games it despises are winding down, and feelers are out in diplomatic circles that it might be best to open up some avenue for dialogue.
Boeing Co.'s chief engineer for the 787 Dreamliner said Saturday that changes to the lithium-ion battery system are fully sufficient to ensure the aircraft's safety, although the company has been unable to find the cause of the original battery failures earlier this year that led to groundings of the plane worldwide since mid-January.
Chrysler's first-quarter profit tumbled 65 percent as shipments of cars and trucks fell while it prepared to launch several key new vehicles. The Auburn Hills, Michigan, company said Monday that it earned $166 million in the January-March quarter, compared with $473 million a year ago. Revenue fell 6 percent to $15.4 billion.
Nissan Motor Co. is recalling 123,308 Altima sedans because their spare tires may be over- or underinflated. Altimas from the 2013 model year that were made between March 21 and March 26 are affected. Tires that are significantly over- or underinflated can increase the risk of a crash. Nissan says it has no reports of accidents or injuries related to the defect, which was discovered by a dealer.
The deadly Central Texas fertilizer plant explosion has now spawned six lawsuits, including one from the family of a volunteer firefighter killed in the blast. Fourteen people died and more than 200 were injured by the April 17 blast in the small Central Texas town of West. Dozens of buildings were destroyed or severely damaged.
A Japanese company will get incentives that could be worth more than $330 million to build a tire manufacturing plant in Clay County. Mississippi lawmakers quickly passed the bill intended for Yokohama Rubber Co. Ltd. in a Friday special session, with House members supporting it 117-2 and Senate members supporting it unanimously. The entire session took less than four hours.
General Motors Co. wants a long prison sentence next week for a former employee and her husband who were convicted of stealing hybrid vehicle technology for potential use by competitors in China. Trade secrets were found on at least seven computers owned by ex-GM engineer Shanshan Du and Yu Qin, according to prosecutors.
Chrysler Group LLC announced today that it will invest $19.6 million in its Toledo Machining Plant in Perrysburg, Ohio, to increase capacity of the torque converter it’s machining for the nine-speed transmission. With this announcement, the Company’s total investments in its U.S. operations since June 2009 increase to over $5.2 billion.
A man doing welding work on the rooftop of a Glendale manufacturing plant is dead of an apparent electrocution. Authorities say the man was badly burned and fell 20 feet to the ground after he somehow touched live wires around 11:20 a.m. Thursday.
Caterpillar Inc. is laying off about 60 employees at a plant in central Illinois as the company deals with declining profits. The Journal Star in Peoria reports that Caterpillar said Thursday that it will lay off workers at a foundry in Mapleton starting in early May. The town is just south of Peoria, where Caterpillar is based.