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Daily industrial news and top headlines for plant and maintenance managers
China's Manufacturing Growth Improves In March
April 1, 2013 9:57 am | by The Associated Press | News | CommentsGrowth in China's manufacturing picked up in March in a potentially positive sign for the recovery in the world's second-largest economy. The China Federation of Logistics and Purchasing said Monday that its Purchasing Managers' Index rose to 50.9 in March from 50.1 in February, which was the lowest reading in five months.
Asian Giants Tiptoe Toward Free Trade Deal
April 1, 2013 9:55 am | by Youkyung Lee, AP Business Writer | News | CommentsChina, Japan and South Korea are inching ahead with talks for a free trade zone that would rival the European Union and North America in economic heft. Despite the achievement of setting aside their often acrimonious relations to begin negotiations, progress will be slow. An agreement to start talks took 10 years.
Japan Jobless Rate Up; Prices, Manufacturing Fall
March 29, 2013 2:05 pm | by Elaine Kurtenbach, AP Business Writer | News | CommentsJapan's jobless rate edged higher and industrial production fell slightly in February as consumer prices also fell, underscoring the fragility of the recovery of the world's third-largest economy. The government data released Friday showed the main consumer price index fell 0.3 percent from a year earlier as deflation continued.
U.S. Takes Swipe At China For Hacking Allegations
March 28, 2013 2:03 pm | by Anne Flaherty, Associated Press | News | CommentsThe U.S. has taken its first real swipe at China following accusations that the Beijing government is behind a widespread and systemic hacking campaign targeting U.S. businesses. Buried in a spending bill signed by President Barack Obama on Tuesday is a provision that effectively bars much of the U.S. government from buying information technology made by companies linked to the Chinese government.
Honda To Start Kenya Motorcycle Production
March 27, 2013 1:52 pm | by The Associated Press | News | CommentsHonda Motor Co. said Wednesday it will start producing motorcycles at a new plant in Kenya later this year amid expectations of growth in local demand. Honda has set up Honda Motorcycle Kenya Ltd. for sales and production of motorcycles in Nairobi, becoming the company's third local subsidiary in Africa following one each in South Africa and Nigeria.
Slovakia Signs Deal With U.S. Steel To Stay
March 26, 2013 9:41 am | by The Associated Press | News | CommentsThe Slovak government has signed a deal with U.S. Steel that will ensure the American ownership of a steel mill that employs thousands in Slovakia for at least five more years. Prime Minister Robert Fico says that in the agreement signed Tuesday, "we created conditions to motivate U.S. Steel to stay in Slovakia and continue to produce steel."
Solar Company Shares Down On JA Solar 4Q Loss
March 26, 2013 9:37 am | by The Associated Press | News | CommentsShares of a number of solar companies sank Monday after JA Solar Holdings Co.'s fourth-quarter loss widened because of weak global demand for solar products. Solar panel prices have tumbled since the Chinese government pushed hundreds of small players into the industry.
Slovak PM Visits U.S. Steel, No Deal Announced
March 25, 2013 2:13 pm | by Kevin Begos, Associated Press | News | CommentsSlovakia's Prime Minister met with U.S. Steel executives in Pittsburgh on Monday to discuss the future of a steel mill in Kosice, but no final agreement was announced. Prime Minister Robert Fico said the purpose of his visit was "to motivate U.S. Steel to stay in Slovakia." Fico said he felt Monday's discussions went well and that a written agreement between the country and U.S. Steel may be signed as soon as Wednesday.
Japan, EU Agree To Start Free-Trade Negotiations
March 25, 2013 2:11 pm | by Yuri Kageyama, AP Business Writer | News | CommentsJapan and the European Union agreed Monday to start negotiations for a free-trade pact encompassing nations that account for nearly a third of the world economy. A Japan-EU summit set to begin Monday in Tokyo was shelved because of the financial crisis in Cyprus.
Renesas In Talks To Sell Mobile Chip Operations
March 21, 2013 1:46 pm | by The Associated Press | News | CommentsThe president of struggling Renesas Electronics Corp. said Thursday that the chipmaker is in talks with overseas companies on selling its loss-making mobile device chip operations as part of efforts to streamline its business. Tetsuya Tsurumaru added, however, that the company has not ruled out the possibility of negotiations with domestic firms over the sale of the operations of wholly owned subsidiary Renesas Mobile Corp.
UK Coffee Machine Maker Whips Up Exports
March 20, 2013 5:21 pm | by ReutersTV | Videos | CommentsReuters' Hayley Platt reports from a UK factory which has had to find new markets to thrive. Since the start of the financial crisis, exports have been crucial. They now account for 25 percent of francino's business, up from just 2 percent in 2008. But the Eurozone has been a struggle.
VW Announces China Recall For Gearbox Problem
March 20, 2013 1:58 pm | by The Associated Press | News | CommentsVolkswagen AG announced a recall Wednesday of more than 384,000 vehicles in China to fix gearboxes following a report last week by state TV that criticized the quality of the German automaker's cars. Volkswagen said that problems with direct-shift gearboxes might cause a power interruption, but it said drivers could remain in control and maneuver to a stop.
Bentley Booms, But SUVs Stuck In Garage
March 20, 2013 1:01 pm | by Reuters | Videos | CommentsPremium automotive brands appear to be the only ones doing well these days amid the turmoil in Europe's car market, says Reuters' Julian Satterthwaite. Bentley says it can post higher sales again this year, but a green light for the company's key SUV project remains elusive.
Ford Will Pay $750M To Close Belgian Plant
March 20, 2013 10:11 am | by The Associated Press | News | CommentsFord Motor Co. will pay $750 million in separation benefits to hourly workers at a Belgian factory it plans to close next year. Ford revealed the cost in a government filing Tuesday. Ford employs 4,000 hourly workers at the Genk plant. Most approved the separation plan last week.
Ericsson, STMicroelectronics To Cut 1,600 Jobs
March 19, 2013 1:55 pm | by The Associated Press | News | CommentsSwedish wireless equipment maker Ericsson and Switzerland's STMicroelectronics say they will lay off up to 1,600 workers globally as part of a plan for splitting up their unprofitable joint venture. STMicroelectronics, one of Europe's largest chipmakers, announced in December that it wanted out of ST-Ericsson as it struggled with a downturn in global demand.
Treasury's Lew Visit Marks U.S.-China Re-Engagement
March 19, 2013 1:52 pm | by Christopher Bodeen, Joe McDonald, Associated Press | News | CommentsThe U.S. and China began to re-engage Tuesday on knotty issues ranging from economic frictions to North Korea's nuclear program following a months-long hiatus during President Barack Obama's re-election and China's installation of new leaders.
Mitsubishi Electric Looking To Boost Overseas Sales
March 19, 2013 1:47 pm | by The Associated Press | News | CommentsThe president of Mitsubishi Electric Corp. said Tuesday the company is aiming to strengthen its business in emerging markets to boost its ratio of overseas sales by 5 percentage points from the current level to 40 percent in fiscal 2015.
Lego Plans First China Factory As Asian Sales Leap
March 19, 2013 9:39 am | by The Associated Press | News | CommentsLego is building its first factory in China as part of a plan to move production closer to Asia, its fastest growing market. The Danish maker of colorful plastic building blocks for children said it's investing at least 100 million euros ($130 million) in the new plant. Construction will start in 2014 and it will be fully operational by 2017.
Defense Contractor In PA Fights For Its Survival
March 19, 2013 9:37 am | by Lauren Boyer, York Daily Record/Sunday News | News | CommentsA manufacturer that once worked around the clock — trying not to wake its rural neighbors with evening test track runs — barely has enough work to sustain a second shift. And things are about to get worse. "When I said some areas are dark," Alice Conner said, "I meant it."
Airbus Gets Biggest Order Ever From Indonesia
March 18, 2013 10:21 am | by Sarah DiLorenzo, Sylvie Corbet, Associated Press | News | CommentsAirbus signed its biggest deal ever on Monday, an order from Indonesian's Lion Air worth €18.4 billion ($24 billion) that President Francois Hollande said should inspire the struggling French economy and all of Europe. The CEOs of both companies signed the contract for 234 planes in a ceremony at the French presidential palace, a sign of its importance to the government.
France Mulls Law To Let Strikers Ransack Offices
March 15, 2013 2:03 pm | by Sarah DiLorenzo, AP Business Writer | News | CommentsWith its long vacations, short hours and myriad workers' rights, France has a reputation for being a hard place to do business. Now add this to the mix: A law working its way through parliament would grant amnesty to workers who have ransacked their company's offices or threatened their bosses during a labor dispute.
Toyota Opens 2nd Karawang, Indonesia Plant
March 15, 2013 10:09 am | by The Associated Press | News | CommentsToyota Motor Corp. held a ceremony Friday to mark the opening of its second plant in Karawang, Indonesia, to produce the Etios Valco compact hatchback for sale in the country. Built with an investment of about 33 billion yen, Plant 2 Karawang is creating about 1,100 new jobs and will have an annual production capacity of about 70,000 vehicles initially.
Volkswagen CEO Stresses Cautious Outlook
March 14, 2013 1:54 pm | by The Associated Press | News | CommentsVolkswagen's chief executive Martin Winterkorn said Thursday the company faces a challenging year particularly in Europe where many countries are in recession. Winterkorn told the company's annual news and analyst conference that "Volkswagen is feeling the headwinds — especially in Europe."
Workers Protest For EU Leaders To End Austerity
March 14, 2013 1:47 pm | by Raf Casert, Associated Press | News | CommentsThousands of workers protested in Brussels on Thursday to demand that EU leaders gathering for a summit bring an end to austerity measures and instead focus on boosting growth and reducing unemployment. The demonstration vented frustration over years of austerity imposed by EU leaders that unions and many economists say is worsening the recession and driving ever more people into unemployment and poverty.
MAPI: Slower 2013 Activity To Precede Pickup in 2014
March 14, 2013 1:41 pm | by The Manufacturers Alliance for Productivity and Innovation | News | CommentsRecent trends suggest a reason for optimism for the U.S. economy and its manufacturing sector, according to the quarterly Manufacturers Alliance for Productivity and Innovation U.S. Industrial Outlook (EO-121), a report that analyzes 27 major industries.
