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Daily industrial news and top headlines for plant and maintenance managers

U.S. Trade Deficit Falls To $38.8B In March

May 2, 2013 2:11 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

The U.S. trade deficit narrowed in March for a second month as the daily flow of imported crude oil dropped to the lowest level in 17 years. The deficit with China hit a three-year low. The trade deficit decreased to $38.8 billion, an 11 percent drop from February's $43.6 billion, the Commerce Department reported Thursday.

Ford Adding 2,000 Workers To MO Plant

May 2, 2013 2:10 pm | by Dee-Ann Durbin, Tom Krisher, AP Auto Writers | News | Comments

Ford Motor Co. said Thursday that it's adding 2,000 workers to the Missouri plant that makes the F-150 pickup because of surging U.S. truck demand. The company plans to add a shift with 900 workers in the third quarter of this year to make pickups. That's in addition to the 1,100 workers Ford will hire to make the new Transit van. Those workers will start in the fourth quarter.

GM CEO: Volt Will Be Profitable

May 2, 2013 9:11 am | by CNN Money | Videos | Comments

General Motors CEO Dan Akerson tells Fortune that the second generation of the Chevy Volt will be cheaper to make and profitable. Looking to the future, GM hopes to have a half million cars on the road with some form of electrification by 2017.

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Chrysler, Ford, GM, Nissan April U.S. Sales Up

May 1, 2013 2:07 pm | by Dee-Ann Durbin, Tom Krisher, AP Auto Writers | News | Comments

Ford, GM, Chrysler and Nissan all reported double-digit U.S. sales increases last month, signaling the best April for car and truck sales in six years. A rebound in pickup truck sales led the way, especially for the Detroit automakers. Small businesses are replacing aging trucks that they've kept since the Great Recession.

U.S. Manufacturing Growing At A Slower Pace

May 1, 2013 2:03 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. factory activity expanded at a slower pace in April, held back by weaker hiring and less company stockpiling. The report is the latest sign that economic growth may be slowing this spring. The Institute for Supply Management said Wednesday that its index of manufacturing activity slipped to 50.7 last month.

Amid Low Prices, Alcoa Weighs Production Cutbacks

May 1, 2013 2:02 pm | by The Associated Press | News | Comments

Alcoa Inc. said Wednesday that it might reduce production because of a slump that has cut aluminum prices by more than one-third since they peaked in 2011. The reduction could affect up to 11 percent of Alcoa's aluminum-smelting capacity, a cut of 460,000 tons of capacity. The company has already idled 13 percent of its capacity.

Ram Truck Demand Drives Chrysler Sales

May 1, 2013 10:18 am | by Tom Krisher, AP Auto Writer | News | Comments

Strong demand for the Ram pickup truck helped drive Chrysler's sales up 11 percent last month as the company posted its best April in six years. The increase is another sign that Americans continue to buy cars and trucks despite high unemployment and mixed economic signals.

Nissan Cuts Prices On 7 U.S. Models

May 1, 2013 10:09 am | by Tom Krisher, AP Auto Writer | News | Comments

Nissan is cutting prices on seven of its 18 models in the U.S., hoping its cars and trucks will show up in more Internet searches by shoppers. The price cuts vary with the amount of equipment on each model and run from 2.7 percent, or $580, on the top-selling Altima midsize car to 10.7 percent, or $4,400, on the Armada big SUV.

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Apple Sells $17B In Bonds In Record Deal

May 1, 2013 10:08 am | by The Associated Press | News | Comments

Apple Inc. sold $17 billion in bonds Tuesday in a record deal spurred by the company's plan to placate its frustrated shareholders. The Cupertino, California-based company sold the bonds in its first debt issue since the 1990s to raise money to pass along to shareholders through dividend payments and stock buybacks.

Power Company, Smelter Reach Tentative Deal

April 30, 2013 1:46 pm | by The Associated Press | News | Comments

A regional utility has reached a tentative agreement with an aluminum smelter on electric rates that would keep the facility in western Kentucky open. Media report that Henderson-based Big Rivers Electric Corp. and Hawesville-based Century Aluminum announced the agreement on Monday.

Brazil's Embraer Inks 30-Jet Deal With United

April 30, 2013 1:39 pm | by The Associated Press | News | Comments

Brazilian plane maker Embraer says it's signed a firm order with United Airlines for 30 regional jets. With the option for United to buy an additional 40 jets, Embraer says the deal could eventually be worth nearly $4 billion. The first planes are to be delivered in the first quarter of 2014.

Caterpillar To Close Summerville Plant

April 30, 2013 10:11 am | by The Associated Press | News | Comments

Caterpillar says it plans to close its Summerville remanufacturing plant next year, a move that will put 280 people out of work. The Post and Courier of Charleston reports the company said Monday that the decision came after an extensive strategic review of the business.

Japan Manufacturing, Hiring Rise In March

April 30, 2013 10:08 am | by Elaine Kurtenbach, AP Business Writer | News | Comments

Japan manufacturing and employment showed slight improvements in March, buttressing hopes that the economy may be headed for a moderate recovery. Factory output rose 0.2 percent, the Ministry of Economy, Trade and Industry said Tuesday, in the fourth straight monthly increase. It pointed to strength in chemicals, electrical components, telecommunications equipment and steam turbines.

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Yokohama: Tire Demand Calls For U.S. Plant

April 30, 2013 10:06 am | by The Associated Press | News | Comments

Executives with Yokohama Rubber Co. Ltd. say they will build a new tire plant in Mississippi because they see a global supply shortage for tires. The company plans to invest $300 million, hiring 500 people, in a first phase, and could invest $1.2 billion, hiring 2,000 people, over time. State and local governments could give more than $340 million in aid and tax breaks.

U.S. Steel Posts 1Q Loss As Costs Rise

April 30, 2013 10:05 am | by The Associated Press | News | Comments

U.S. Steel says it lost $73 million in the first quarter because of tough competition and rising prices. A year ago it made money in its flat-rolled steel segment, but that was a money-loser in the most recent quarter. Production costs rose, but selling prices didn't.

Goodyear, Union Begin Contract Talks For 6 Plants

April 29, 2013 2:24 pm | by Thomas J. Sheeran, Associated Press | News | Comments

With the backdrop of an uncertain economy, shrinking unions and company cost-cutting, Goodyear and the Steelworkers are negotiating on a new national contract covering 8,000 tire workers at six plants. The first round of talks in Cincinnati ended Thursday and recessed.

Fiat Reports Q1 Loss As Sales Slip

April 29, 2013 2:23 pm | by Colleen Barry, AP Business Writer | News | Comments

Weak sales in Europe and lower profits at U.S. partner Chrysler pushed Italian carmaker Fiat to a loss in the first quarter. Fiat SpA on Monday said it lost 83 million euros ($108 million) during the first three months of the year, compared with a restated first-quarter profit of 35 million euros in the same period of 2012.

Chrysler Profit Falls 65 Percent On Lower Shipments

April 29, 2013 10:13 am | by Tom Krisher, AP Auto Writer | News | Comments

Chrysler's first-quarter profit tumbled 65 percent as shipments of cars and trucks fell while it prepared to launch several key new vehicles. The Auburn Hills, Michigan, company said Monday that it earned $166 million in the January-March quarter, compared with $473 million a year ago. Revenue fell 6 percent to $15.4 billion.

GM CEO's 2012 Pay Package Up 44 Percent

April 25, 2013 2:14 pm | by The Associated Press | News | Comments

General Motors Co. boosted CEO Dan Akerson's pay package by 44 percent last year, as the value of his stock awards significantly increased. Akerson earned $11.1 million in salary and stock awards last year, compared with $7.7 million in 2011. The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

Fiat Mulls IPO After Buying Chrysler

April 25, 2013 2:11 pm | by Colleen Barry, Tom Krisher, AP Business Writers | News | Comments

Italian automaker Fiat is considering a plan to hold a public stock offering after the company buys 100 percent of Chrysler, according to a person briefed on the matter. The plan to sell shares of a combined company is among several options being evaluated by Sergio Marchionne, who serves as CEO of both automakers, said the person, who requested anonymity because no decision has been made.

What's Next For Apple?

April 25, 2013 8:00 am | by CNN Money | Videos | Comments

It's certainly one of the most talked about stocks, so what is it going to take to turn Apple's profits around? Apple's profits fell 18 percent to $9.5 billion in the second quarter. As profit margins decrease on iPads and iPhones, pressure increases on Apple to enter a new product category.

Boeing Sees Early-May Restart Of 787 Deliveries

April 24, 2013 2:02 pm | by Joshua Freed, AP Business Writer | News | Comments

Boeing is aiming to begin delivering 787s again in early May. The 787 has been grounded since mid-January because of smoldering batteries. Federal authorities have approved Boeing's redesigned battery system. The new battery setup has been installed on 10 787s that belong to airlines, and on nine more that have been built but not delivered, said Boeing Co. Chairman and CEO Jim McNerney.

European Recession Hits Major Car Makers

April 24, 2013 2:00 pm | by David McHugh, AP Business Writer | News | Comments

Europe'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.

Orders For U.S. Durable Goods Fall In March

April 24, 2013 1:54 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

Orders for long-lasting U.S. factory goods fell in March by the most in seven months. The drop reflected a steep decline in commercial aircraft demand and little growth in orders that signal future business investment. The Commerce Department said Wednesday that orders for durable goods declined 5.7 percent in March. That followed a 4.3 percent gain in February, which was revised lower.

Administration Had Advance Warning On Fisker

April 24, 2013 10:15 am | by Matthew Daly, Associated Press | News | Comments

Newly released documents show that the Obama administration was warned as early as 2010 that electric car maker Fisker Automotive Inc. was not meeting milestones set up for a half-billion dollar government loan, nearly a year before U.S. officials froze the loan after questions were raised about the company's statements.

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