BETHESDA, Md., (AP) — Defense contractor Lockheed Martin Corp. said Tuesday it acquired Procerus Technologies, which makes autopilot systems and other electronic systems used in very small unmanned aircraft. The companies did not disclose terms of the purchase, but Lockheed Martin said they "are not material" to its results.
WASHINGTON (AP) — U.S. factory output surged in December by the most in year. Stronger demand for business equipment, vehicles and energy offered the most visible evidence that manufacturing has roared back from the depths of the recession. The Federal Reserve said Wednesday that manufacturing increased 0.
AMSTERDAM (AP) — Swedish Automobile NV, the parent company of Dutch luxury car maker Spyker and the now-bankrupt Saab Automobile, says it will push on with the sale of the Spyker brand and issue new shares in a bid for survival, in spite of an exodus of its supervisory board. The company, known as "Swan", said Wednesday that it was in negotiations to sell Spyker.
MEMPHIS, Tenn. (AP) — Electrolux is committed to awarding contracts to local companies and firms owned by minorities and women for construction of its $266 million kitchen appliances manufacturing plant in Memphis, officials said Tuesday. Electrolux detailed the steps it is taking to give contracts for the construction project during a Tuesday morning news conference attended by the mayors of Memphis and surrounding Shelby County.
PRINCETON, Ind. (AP) — Workers at a Toyota Motor Corp. plant in southwestern Indiana are celebrating the plant's production of its 3 millionth vehicle. The Evansville Courier & Press reports (http://bit.ly/wI9gXY ) that workers marked the production milestone Tuesday by taking the silver Sienna minivan off the plant's assembly line for a media event.
MOSCOW (AP) — Russian space experts will look into the possibility that a U.S. radar station may have inadvertently interfered with the failed Mars moon probe that later plummeted to Earth, Russian media reported Tuesday. The state news agency RIA Novosti quoted Yury Koptev, former head of the Russian space agency Roscosmos, as saying investigators will conduct tests to check if a U.
LITTLE ROCK, Ark. (AP) — A Chicago snack food supplier has completed acquisition of an Arkansas ice cream maker and plans to make its products available to retailers across the state. In a statement released Monday, Schulze & Burch Biscuit Co. said its management will meet with retailers to present the Yarnell's Ice Cream Co.
CANTON TOWNSHIP, Mich. (AP) — A Minnesota electronics company plans to manufacture flat-screen televisions at a plant in suburban Detroit under a partnership with a Michigan-based business. Element Electronics plans to hire about 100 workers at the plant in Wayne County's Canton Township under the agreement with Lotus International Co.
WYOMING, Pa. (AP) — WYOMING - After the government canceled five of the 10 contract orders it placed at USM Aerostructures Corp. in 2011, company President Ernesto Jurado decided to shift focus. "This year, we have no intention of going after government work," said Jurado, whose company makes parts for military jets and helicopters and whose customers include defense giants Boeing, Sikorsky and Lockheed-Martin.
DETROIT (AP) — That clunker in America's driveway has reached a record old age, but there are signs that people may be growing confident enough in the economy to get a whiff of that fresh new car scent very soon. The average age of a car or truck in the U.S. hit a record 10.8 years last year as job security and other economic worries kept many people from making big-ticket purchases such as a new car.
MOORHEAD, Minn. (AP) — American Crystal Sugar Co. on Monday rejected a proposal to end the cooperative's six-month lockout of its factory workers in three states, calling it a "publicity stunt" by the leadership of the union that represents them. Separately, the Moorhead, Minn.
KUALA LUMPUR, Malaysia (AP) — Auto sales in Malaysia fell unexpectedly by 0.9 percent in 2011 but will rebound to grow a modest 2.5 percent this year, underpinned by a robust domestic economy, an industry group said Tuesday. Sales fell to 599,877 vehicles last year after production was disrupted by Japan's earthquake and tsunami in March and then by crippling floods in Thailand, said the Malaysian Automotive Association.
Deere & Co.'s CEO got a 35 percent pay hike in 2011 as the world's largest maker of agricultural equipment continued to generate strong global sales and sizeable profits, according to documents filed Friday with the Securities and Exchange Commission. The company's filings show Samuel Allen received compensation worth $16.
LONDON (AP) — It was a daily reminder of the death of her father in a British industrial accident — but a mother of two says she feels relief after she was given the chance to demolish the factory where he was killed. Sarah Griffiths won a competition to lead the demolition Sunday of a tower owned by Campbell's Soup food manufacturer.
TOKYO (AP) — An internal investigation at Olympus Corp. found that five current and former auditors are responsible for a combined 8.38 billion yen ($109 million) in losses linked to the Japanese company's accounting scandal, and plans to sue them. The panel's report released Tuesday said it found two accounting firms hired by Olympus as external auditors, KPMG Azsa LLC and Ernst & Young ShinNihon LLC, had not violated their fiduciary duties.
BEIJING (AP) — China appears on track to avoid an abrupt economic slowdown with possible global repercussions after growth eased to a still robust 8.9 percent in the last quarter of 2011. The expansion in the world's second-largest economy was the slowest in 2 1/2 years but December retail sales and factory output accelerated, data showed Tuesday.
HAMBURG, Germany (AP) — Airbus took in a record number of orders for new commercial aircraft last year as strong demand for its revamped single-aisle plane helped it best U.S. rival Boeing Co. in the race for orders for the fourth year running. The European jet maker said Tuesday that it took in 1,419 net new orders in 2011, worth $140 billion, well above Boeing's total of 805 aircraft.
POCATELLO, Idaho (AP) — Eastern Idaho leaders say they're still working to find a new purpose for the J.R. Simplot potato processing plant in Aberdeen. The Simplot company announced last fall that it would close the plant in 2014, eliminating about 290 jobs. Former Pocatello Mayor Roger Chase told the Idaho State Journal (http://bit.
BEIJING (AP) — The number of Internet users in China has surged past 500 million as millions of new Web surfers go online using mobile phones and tablet computers, an industry group reported Monday. The popularity of the Internet in China has driven the explosive growth of profitable Web companies and made fortunes for some Chinese entrepreneurs despite government controls on what the public can see online.
NEW YORK (AP) — Motorola Mobility Holdings Inc. said Friday it has received a favorable initial determination in patent infringement litigation filed by Apple Inc. According to Motorola Mobility, an administrative law judge in the U.S. International Trade Commission issued an initial determination finding no violation for any of the three Apple patents listed in Apple's suit, which was filed in October 2010.