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Daily industrial news and top headlines for plant and maintenance managers
S. Korea To Withdraw Workers At N. Korea Factory
April 26, 2013 10:20 am | by Sam Kim, Associated Press | News | CommentsSeoul said Friday that it has decided to withdraw the roughly 175 South Koreans still at a jointly run factory complex in North Korea, raising a major question about the survival of the last symbol of inter-Korean cooperation. The statement by the country's minister in charge of inter-Korean relations came after North Korea rejected Seoul's demand for talks on the factory park that has been closed nearly a month.
Outokumpu To Cut 2,500 Jobs
April 25, 2013 2:13 pm | by The Associated Press | News | CommentsFinnish metals group Outokumpu Oyj says it will slash 2,500 jobs worldwide in the next four years to cut costs by 350 million euros ($455 million) and improve profitability as stainless steel demand continues to fall. The world's leading stainless steel maker says about a third of the job cuts will be applied this year, mostly in Germany, Sweden and Finland, in line with production capacity reductions and streamlining.
European Recession Hits Major Car Makers
April 24, 2013 2:00 pm | by David McHugh, AP Business Writer | News | CommentsEurope's stubborn recession cut deeply into profits at major automakers Ford, Volkswagen and Daimler, first-quarter results showed Wednesday as the industry began reporting earnings. Germany's Volkswagen AG said its first-quarter net profit fell 38 percent to 1.95 billion euros ($2.5 billion), while Daimler AG's was down 60 percent at 564 million euros.
Toyota: Top Selling Automaker Despite China Fall
April 24, 2013 10:11 am | by Yuri Kageyama, AP Business Writer | News | CommentsToyota held onto its status as the world's top-selling automaker in the first quarter of this year, although the three-way race with General Motors and Volkswagen is proving tight, as its sales fall in China and Japan. Toyota Motor Corp. reported Wednesday it sold 2.43 million vehicles during the January-March period.
A Year Of Clutter For China's Car Market
April 23, 2013 2:22 pm | by ReutersTV | Videos | CommentsFancy a spin in a shiny, new Horki? Want to test drive a Ranz? These are just a couple of made-for-China brands global automakers have cooked up to comply with the government's policies. A bevy of new brands from the likes of Toyota and BMW will join China's already crowded car market in 2013, thanks to policies designed to help local automakers. But are they doing the opposite?
Survey: China Manufacturing Weakening
April 23, 2013 10:22 am | by Joe McDonald, AP Business Writer | News | CommentsChina's manufacturing growth decelerated this month, a survey showed Monday, adding to questions about the strength of the recovery in the world's second largest economy. HSBC Corp. said Tuesday the preliminary version of its monthly purchasing managers index declined to 50.5 from March's 51.6 on a 100-point scale on which numbers above 50 represent an expansion.
Automakers Target Chinese Buyers At Auto Show
April 22, 2013 2:21 pm | by Joe McDonald, AP Business Writer | News | CommentsGlobal and Chinese automakers showcased family-friendly sedans and SUVs targeting coveted urban buyers at China's biggest auto show Saturday as competition intensifies in this huge but crowded market. China's vehicle sales rose 13 percent in March, blistering growth by Western standards but down from 45 percent in 2009.
Jaguar Land Rover Enjoying China 'Honeymoon'
April 22, 2013 1:33 pm | by ReutersTV | Videos | CommentsJaguar and Land Rover: Among the auto industry's most coveted brands and soon to be made in China. Jaguar Land Rover will soon produce its iconic SUVs in China with an unusual choice of local partner, budget carmaker Chery. Jaguar Land Rover CEO Ralf Speth discusses the alliance and its prospects.
Chinese Cars Still In The Slow Lane To Global Market
April 19, 2013 4:02 pm | by Reuters | Videos | CommentsChina's auto market is the biggest and most important in the world today says Reuters' Jane Lanhee Lee. The world's largest auto market is their playground, and now China's carmakers have set their sights overseas. The president of market research group J.D. Power discusses their prospects.
Toyota To Build Lexus ES 350 At KY Plant
April 19, 2013 10:19 am | by Toyota | News | CommentsFor the first time, a Lexus vehicle will be produced in the United States. The Lexus ES 350 will be assembled at Toyota Motor Manufacturing, Kentucky in 2015, Toyota announced today. The move will generate 750 new jobs. To support the new dedicated assembly line, Toyota will invest $360 million in the Georgetown plant.
German Industry Pay Offer Short Of Union Demand
April 19, 2013 10:10 am | by The Associated Press | News | CommentsEmployers in Germany's key manufacturing sector are offering a pay increase that falls well short of the 5.5 percent raise a union is seeking for some 3.7 million workers. The employers' association in the southern region of Bavaria is offering a 2.3 percent increase over a 13-month period, news agency dpa reported Friday. The IG Metall union is seeking the bigger raise as part of a 12-month deal.
Chinese Automakers Struggle Against Global Rivals
April 18, 2013 2:10 pm | by Joe McDonald, AP Business Writer | News | CommentsThese should be good times for Chinese automakers as they prepare to show off their latest models at the Shanghai auto show. Their home market is the world's biggest and growing. But independent automakers such as Chery and Geely are being squeezed by bigger, richer global rivals including General Motors and Nissan that have moved into turf the Chinese makers considered their own: low-priced models for local tastes.
How A U.S. Shoemaker Stays Competitive
April 17, 2013 4:45 pm | by CNN Money | Videos | CommentsOkabashi Brands was founded in the 1980s when U.S. manufacturing was shrinking. Staying competitive compared to imports is a challenge, says Bahman Irvani, CEO. But thanks to automation, a U.S. workforce, and recycling methods, Okabashi is a success story.
Opel: German Plant To End Production
April 17, 2013 2:07 pm | by The Associated Press | News | CommentsGeneral Motors' loss-making Opel division has confirmed it plans to end production at a plant in Germany by the end of 2014. Adam Opel AG said Wednesday in a statement that the Bochum plant would wind down production as part of its plan to reduce costs and turn the division around. The plant's 3,200 workers make the Zafira compact.
PA Governor Winds Up South America Trade Mission
April 17, 2013 1:58 pm | by The Associated Press | News | CommentsPennsylvania Gov. Tom Corbett was headed home Tuesday from a 10-day trade mission to South America with high hopes for the future but few concrete accomplishments to talk about. In a teleconference with Pennsylvania reporters, Corbett described a whirlwind schedule of meetings and events in Sao Paulo and Rio de Janeiro, Brazil, and Santiago, Chile.
Toyota's Hybrid Vehicle Sales Pass 5 Million
April 17, 2013 10:11 am | by Yuri Kageyama, AP Business Writer | News | CommentsToyota's global sales of gasoline-electric hybrid vehicles have surpassed 5 million in a milestone for a technology that was initially greeted with skepticism. The Japanese automaker, which said Wednesday it had sold 5.125 million hybrid vehicles as of the end of March, started selling the Prius, the world's first mass produced hybrid passenger car, in 1997.
Taiwan Tech Industry Faces Up To Samsung
April 17, 2013 10:04 am | by Annie Huang, Associated Press | News | CommentsTaiwanese companies have long viewed tech giant Samsung as a major threat and the battle has recently appeared to tilt in favor of the South Korean rival as Taiwan's smartphone, memory chip and display panel makers suffered sagging exports.
GM 1Q Global Sales Rise To Beat VW
April 16, 2013 10:17 am | by The Associated Press | News | CommentsGeneral Motors edged out fast-growing Volkswagen in first-quarter sales as both companies try to close the gap with Toyota for the global world sales crown. Toyota, which is scheduled to release first-quarter numbers next week, dethroned GM to retake the top spot in 2012, a year in which VW posted record sales and came within 190,000 vehicles of beating GM.
EU Lawmakers Veto Tighter Cap-And-Trade System
April 16, 2013 10:16 am | by Juergen Baetz, Associated Press | News | CommentsEuropean lawmakers dealt a blow to one of Europe's flagship policies on fighting climate change when they voted Tuesday against tightening the bloc's system of making companies pay for pollution. The European Union cap-and-trade system — the world's biggest — was introduced in 2005 in the hope of encouraging industries to reduce emissions and invest in greener technologies.
Bridgestone To Set Up First Russia Tire Plant
April 16, 2013 10:12 am | by The Associated Press | News | CommentsBridgestone Corp. has said it plans to establish a car tire plant in Ulyanovsk in western Russia -- its first tire production base in the country -- by the end of June, aiming to build production capacity for around 12,000 tires per day in 2018.
U.S. Declines To Label China Currency Manipulator
April 15, 2013 1:40 pm | by Martin Crutsinger, AP Economics Writer | News | CommentsThe Obama administration declined to label China a currency manipulator, although it said that China's currency remains significantly undervalued. The decision came in a twice-a-year Treasury report on whether any nations are manipulating their currencies to gain trade advantages.
Amid Investigation, Coal Exports At Record Levels
April 15, 2013 9:35 am | by Matthew Brown, Associated Press | News | CommentsFrom the time coal is scooped from the depths of the Spring Creek strip mine in Montana's wide-open Powder River Basin until it travels more than 6,000 miles across the Pacific Ocean to power plants in South Korea, the price can increase more than fivefold.
Business As Usual For South Korean Tech Giants
April 12, 2013 4:03 pm | by ReutersTV | Videos | CommentsWhile the world waits for the next big provocation from North Korean leader Kim Jung-Un, across the de-militarized border to the South, it's business as usual. Even if rising threats from North Korea were to disrupt production for Samsung or LG in the South, it would have limited impact on the global supply chain. Reuters' Jon Gordon explains why.
U.S. Approves Japan Entry Into TPP Trade Talks
April 12, 2013 3:30 pm | by Matthew Pennington, Associated Press | News | CommentsThe United States on Friday approved Japan's entry into negotiations on the Trans-Pacific Partnership, a critical step for Tokyo's inclusion in a regional trade pact that underpins the Obama administration's efforts to boost exports to Asia.
German Leader Welcomes GM Investment
April 12, 2013 10:01 am | by The Associated Press | News | CommentsGerman Chancellor Angela Merkel has welcomed General Motors' decision to invest another 4 billion euros ($5.3 billion) in European subsidiary Opel by 2016 as part of an attempt to turn the money-losing division around. Merkel met with GM Chairman and CEO Dan Akerson and other company officials Thursday in Berlin.
