IHI Corp. said Friday it will establish an equally owned company with Luxembourg firm Paul Wurth S.A., the world's largest blast furnace maker, on Nov. 1 to tap growing demand for steelmaking facilities in Southeast Asia, Australia and elsewhere.
A company that makes cabinets and upholstery for aircraft has announced plans to expand its manufacturing operations and move its plant to a new building in Sherwood. Custom Aircraft Cabinets announced Friday that it will move from its current plant in North Little Rock into the former National Home Center building in Sherwood.
Toyota Digital Cruise Inc., a Toyota Motor Corp. arm offering telecommunications services, said Thursday it has started providing overseas data transmission network services for auto parts suppliers that have business transactions with Toyota.
Ford says its Focus small car is on track to become the best-selling car in the world this year, trumping the Toyota Corolla. Ford sold 489,616 Focus sedans and hatchbacks worldwide in the first half of 2012. That was almost 27,000 more than the perennial best-seller, the Toyota Corolla.
Japanese industrial production resumed its slide, falling 1.2 percent in July from June amid slumping global demand, the government said Friday. It's a disappointing sign for the world's third-biggest economy and suggests that any sort of recovery is sputtering.
General Motors plans to ask for $120 million in industrial revenue bonds to fund a vast expansion of its Fairfax plant in Kansas City, Kan., government officials said. GM's planned 400,000-square-foot expansion, including a new paint shop, should ensure the future of the plant and its 3,700 workers, Unified Government officials said Wednesday.
A federal judge in Virginia has issued an injunction against a South Korean company that lost a trade-secrets battle with the DuPont Co. At issue are high-strength synthetic fibers used in products such as Kevlar body armor. The judge on Thursday barred Kolon Industries from producing any para-aramid fibers for 20 years. He also issued a permanent injunction against Kolon's use of DuPont trade secrets.
Fujitsu Ltd. said it will withdraw from semiconductor chip production in Japan amid deterioration of its chip business due to the yen's appreciation and slack demand. The company will close its Kyushu plant in Kagoshima Prefecture, and sell its Miyagi plant in Miyagi Prefecture and the Aizu plant in Fukushima Prefecture to J-Devices Corp. which makes semiconductor chips under contract.
Bankrupt steelmaker RG Steel is working with creditors to resolve issues surrounding the sales of its steel mill facilities. Attorneys for various creditors told a Delaware bankruptcy judge during a telephone hearing Wednesday that substantial progress has been made on resolving the issues.
Hyundai and its labor union reached a tentative agreement to eliminate night shifts and increase wages, moving closer to end Hyundai's first strike in four years. The agreement means that workers will halt strikes they have been staging since July, which have resulted in $1.4B of lost output for South Korea's largest carmaker, the company said.
General Motors says sales of its Chevrolet Volt electric car will break a monthly record in August. The company says it already has sold more than 2,500 Volts this month with two days left. The old record was 2,000 in March. A spokeswoman says about one-third of the sales are in California, where Volt owners can drive alone in carpool lanes. She says sales are growing in other states.
Two major Chinese solar panel makers reported dismal second-quarter results and lowered their shipment forecasts Wednesday, the latest blows to an industry in turmoil. JA Solar Holdings Co. Ltd.'s second-quarter loss widened from a year earlier, the company said Wednesday. Yingli Green Energy Holding Co. Ltd. swung to a net loss after posting net income in the same quarter a year earlier.
Expressing 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.
Officials 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.
The 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.
A 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.
Government 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.
The 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 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 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.