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Daily industrial news and top headlines for plant and maintenance managers
China's Wen Calls For Action On Europe Debt
August 30, 2012 2:09 pm | by Joe McDonald, AP Business Writer | CommentsExpressing alarm at Europe's debt problems, Chinese Premier Wen Jiabao called on Greece, Spain and Italy to embrace budget cuts and get their finances in order after meeting Thursday with visiting German Chancellor Angela Merkel. Merkel was in Beijing for talks aimed at boosting trade and allaying Chinese fears about Europe's heavy government debts.
EPA Asks For More Time To Study Taconite Plan
August 30, 2012 2:07 pm | by The Associated Press | CommentsOfficials from the U.S. Environmental Protection Agency heard a plea Wednesday for more time to study a federal plan for reducing emissions from taconite plants that create haze over Boundary Waters Canoe Area Wilderness and Voyageurs National Park.
Carlyle Buying DuPont Coatings Business For $4.9B
August 30, 2012 2:05 pm | by The Associated Press | CommentsThe Carlyle Group says it is buying DuPont's performance coatings business for $4.9 billion in cash, giving it another investment in the automotive and industrial segments. The private equity firm will also take on $250 million of DuPont's unfunded pension liabilities.
Motorola Trade Secrets Thief Gets 4-Year Term
August 29, 2012 2:10 pm | by Jason Keyser, Associated Press | CommentsA Chinese-born American convicted of stealing trade secrets from Motorola was sentenced Wednesday to 4 years in prison in a case that prosecutors hoped would send a message to those who might be tempted to siphon vital information from U.S. companies.
Official: China's Growth Stabilizing At Slow Pace
August 29, 2012 2:07 pm | by The Associated Press | CommentsGovernment efforts to reverse China's economic slump are taking effect and growth is "stabilizing at a slow pace," the head of the country's planning agency said Wednesday. The statement by the minister in charge of the National Development and Reform Commission came amid a flurry of mixed signals that show some activity picking up but export orders and corporate profits weakening.
Fiesta: Ford's Smallest U.S. Car
August 29, 2012 2:06 pm | by Ann M. Job, For The Associated Press | CommentsThe Ford Fiesta is a versatile, budget-conscious small car with a stylish interior and upscale car options such as heated leather seats and voice-recognition controls. The Fiesta also has higher U.S. government fuel economy ratings than does a gasoline-powered Honda Fit.
JA Solar Plunges As 2Q Loss Grows, Outlook Cut
August 29, 2012 2:04 pm | by The Associated Press | CommentsJA Solar Holdings Co. Ltd.'s second-quarter loss widened from a year earlier, the company said Wednesday, as it became the latest victim of turmoil in the Chinese solar panel industry. JA also lowered its outlook for the year, and its stock, which trades as American depositary shares on the Nasdaq, plunged nearly 9 percent in afternoon trading.
Hospira Buys Manufacturing Facilities For $200M
August 29, 2012 2:03 pm | by The Associated Press | CommentsHospira Inc. said Wednesday that it will pay $200 million to buy antibiotic manufacturing and research and development facilities from an Indian drug company. Hospira is buying the facility in Aurangabad from Orchid Chemicals & Pharmaceuticals. Hospira said the acquisition should reduce its costs, help it maintain its supply of key antibiotics like penicillin, and help develop future products.
Opening Date Not Yet Set For Beef Processing Plant
August 29, 2012 2:01 pm | by Dirk Lammers, Associated Press | CommentsA long-delayed South Dakota beef-processing plant given new life when Korean investors took over in 2009 is without an opening date more than six years after it was first proposed. Land for the $109M Northern Beef Packers plant in Aberdeen was secured in 2006, but financial issues, lawsuits, delinquent property taxes, flooding, an economic downturn and millions of dollars in liens have repeatedly pushed back the opening date.
U.S. Economy Grew At 1.7 Percent Rate In 2Q
August 29, 2012 10:15 am | by Martin Crutsinger, AP Economics Writer | CommentsThe U.S. economy grew at a tepid 1.7 percent annual rate in the April-June quarter, suggesting growth will stay weak in the second half of the year. Slightly stronger consumer spending and greater exports were the main reasons the Commerce Department reported Wednesday that growth was better than its initial estimate of 1.5 percent.
Sharp Seeks 2,000 Early Retirements For Job Cuts
August 29, 2012 10:13 am | by The Associated Press | CommentsMoney-losing Japanese electronics maker Sharp Corp. is calling for about 2,000 early retirement applications under its turnaround plan. Under that plan, announced earlier this month, Sharp is trimming 5,000 jobs, or nearly 9 percent of its global work force, during the fiscal year ended March 31, 2013.
Tennessee Plant Laying Off 35 Workers
August 29, 2012 10:11 am | by The Associated Press | CommentsAn agricultural equipment company is laying off 35 workers in West Tennessee. According to The Jackson Sun, Behlen Manufacturing will shift work to its plants in Columbus, Neb., or Baker City, Ore., and maintain only a distribution center in Huntingdon. The employees being laid off by Oct. 31 will be offered jobs at the other two plants.
Kraft Foods To Close AR Facility
August 29, 2012 10:09 am | by The Associated Press | CommentsKraft Foods Group officials say the company's manufacturing facility in Bentonville will close next year. Kraft Vice President of Operations Jim Durkin says the company will achieve greater efficiencies of scale by combining the majority of the plant's production with external partners. Durkin says Bentonville is a smaller plant and its size isn't suitable for the scale the company needs going forward.
Apple's Victory Means Soul-Searching For Samsung
August 29, 2012 10:05 am | by Youkyung Lee, AP Technology Writer | CommentsA U.S. jury's $1 billion verdict against Samsung for what rival Apple claimed was the illegal copying of its iPhone and iPad designs signals a turning point for the South Korean electronics giant known for its prowess in adapting the innovations of others and nimbly executing production.
Japan's Daikin To Buy Goodman Global For $3.7B
August 29, 2012 10:03 am | by Elaine Kurtenbach, AP Business Writer | CommentsJapan's Daikin Industries, Ltd., plans to buy Houston, Texas-based Goodman Global Group Inc., a purchase that will fortify its status as the world's biggest maker of residential heating, ventilating and air conditioning systems. Daikin, based in western Japan's Osaka, said Wednesday its board approved the $3.7 billion deal as part of its strategy for expanding in the U.S. residential market.
