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Daily industrial news and top headlines for plant and maintenance managers

Bill Squeezing Out Tesla Passes NC Senate

May 14, 2013 2:24 pm | by The Associated Press | News | Comments

A bill backed by auto dealers that effectively blocks California's Tesla Motors Inc. from selling in North Carolina has passed the state Senate. The electric car manufacturer says the bill that passed the Senate unanimously Monday effectively bars it from selling to state residents through its Internet-based model.

Airbus Parent's Q1 Profits To Nearly Double

May 14, 2013 2:21 pm | by The Associated Press | News | Comments

European aerospace company EADS says strong deliveries by airplane maker Airbus helped drive higher earnings in the first quarter. The Airbus parent company reaffirmed its forecast of lifting commercial aircraft deliveries this year to between 600 and 610, as demand from Middle Eastern and Asian carriers to expand their fleets continues to drive sales for one of Europe's largest exporters.

Nissan Chief Welcomes Yen Fall For Luxury Brand

May 14, 2013 10:17 am | by Yuri Kageyama, AP Business Writer | News | Comments

Nissan Motor Co. President Carlos Ghosn welcomed the yen's recent decline to what he called "neutral" levels for the Japanese automaker's profitability, but said Tuesday it must drop further to be "normal." "The abnormal situation of the yen is hopefully something of the past," he told reporters at the roll-off ceremony for a new Infiniti luxury model, the Q50.

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PwC: Strategies To Enhance Business Opportunities In India

May 14, 2013 8:00 am | by PwC | Articles | Comments

According to PwC, India has potential to be the fastest-growing large economy in the world over the next four decades, but businesses find its economic and cultural diversity, complicated policy-making processes and uneven development difficult to navigate.

March U.S. Manufacturing Technology Orders Up

May 13, 2013 1:34 pm | News | Comments

March U.S. manufacturing technology orders totaled $507.91 million according to AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was up 30.4 percent from February and up 3.2 percent when compared with the total of $491.96 million reported for March 2012. With a year-to-date total of $1,278.05 million, 2013 is down 5.0 percent compared with 2012.

Building Apple's iPhone Doesn't Pay Like It Used To

May 13, 2013 11:52 am | by ReutersTV | Videos | Comments

Apple's legendary profit margins may be challenged if the firm releases its long-rumored low-end iPhone later this year. But the ones really feeling the pinch will be its suppliers. Apple does none of its own production and relies on Asia's contract makers - the biggest of the bunch being Foxconn. Foxconn draws an estimated 60 to 70 percent of its business from work commissioned by Apple.

Government Sells 58.4M Shares Of GM Stock

May 13, 2013 10:01 am | by Martin Crutsinger, AP Economics Writer | News | Comments

The government has sold another piece of its stake in General Motors Co. The Treasury Department said Friday in its April report to Congress that so far this year it has sold 58.4 million shares of GM stock and earned net proceeds of $1.6 billion.

Foreign Automakers Join Tokyo Motor Show

May 13, 2013 10:00 am | by The Associated Press | News | Comments

A total of 18 foreign automakers will participate in the Tokyo Motor Show starting in November, but the "Big Three" U.S. automakers will skip the event, the Japan Automobile Manufacturers Association said. While General Motors Co., Ford Motor Co. and Chrysler Group LLC will be absent from the 43rd annual event for the third consecutive year, 17 European automakers, such as Volkswagen AG and BMW AG of Germany, will participate in the event.

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By The Numbers

May 10, 2013 3:42 pm | by Anna Wells, Executive Editor, IMPO | Articles | Comments

 Conveying equipment can’t just keep getting faster – it has to get smarter as well. Learn how market conditions, design elements, and maintenance issues work together to create positive trends in the conveyor industry. 

Better, Worse, Or Just Different?

May 10, 2013 2:17 pm | by Anna Wells, Executive Editor, IMPO | Blogs | Comments

Recently, Kiplinger released a forecast of its own, and it’s a direct and complex identification of both the good and the bad elements facing manufacturers and the economy as a whole. Notably, Kiplinger cites that, despite losing some steam this year, manufacturing will still power the economy and continues to outpace gains in the economy as a whole, both this year and next.

Nissan Profit Up 46 Percent On Strong Sales

May 10, 2013 1:55 pm | by Yuri Kageyama, AP Business Writer | News | Comments

Nissan's fiscal fourth quarter profit jumped 46 percent on stronger sales and a favorable exchange rate that offset declines in China over a bitter territorial dispute. Nissan Motor Co. reported Friday a January-March profit of 110 billion yen ($1.1 billion), up from 75.3 billion yen the same period the previous year. Quarterly sales gained 6 percent to 2.87 trillion yen ($28.7 billion).

Ford Shareholders Reject Stock Proposal

May 10, 2013 10:21 am | by The Associated Press | News | Comments

Ford Motor Co. shareholders are again rejecting a proposal to dilute the Ford family's control over the company. At its annual meeting in Wilmington Thursday, Ford said 67 percent of shareholders voted against the proposal to make each Ford share worth one vote.

ArcelorMittal Affirms 2013 Targets Despite Q1 Loss

May 10, 2013 10:20 am | by Toby Sterling, Associated Press | News | Comments

ArcelorMittal SA, the world's largest steelmaker, slumped to a first-quarter loss, even as the company's chief executive said restructuring efforts are starting to pay off and the steel market is stabilizing after a big reverse in the middle of last year.

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Van Maker Backed By Energy Dept. Shuts Down

May 9, 2013 2:13 pm | by Matthew Daly, Associated Press | News | Comments

A Michigan company that received a $50 million federal loan to make vans for the disabled has stopped production and laid off its 100 workers. Vehicle Production Group, or VPG, suspended operations in February after its finances dipped below a minimum level required as a condition of the federal loan.

U.S. Wholesale Stockpiles Up In March

May 9, 2013 2:09 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

Wholesale businesses stepped up their restocking of supplies in March, but their sales fell sharply. The Commerce Department said Thursday that stockpiles held by wholesalers rose 0.4 percent in March compared with February, when they had fallen 0.3 percent.

Why Is U.S. Manufacturing Left Out Of The Recovery?

May 9, 2013 12:49 pm | by Bloomberg TV | Videos | Comments

Scott Paul, executive director at Alliance For American Manufacturing and Bloomberg political analyst Matt Dowd discuss the current state of manufacturing in the United States. They speak on Bloomberg Television's "Bloomberg Surveillance."

China Reports Stronger April Trade Growth

May 8, 2013 2:25 pm | by Joe McDonald, AP Business Writer | News | Comments

China reported stronger April trade but analysts said export data were inflated and its shaky recovery might be weaker than it looks. Exports rose 14.7 percent over a year earlier, up from March's 10 percent growth, customs data showed Wednesday. Imports gained 16.8 percent, up from the previous month's 14.1 percent.

Germany Plans Tighter Control Of Managers' Pay

May 8, 2013 2:23 pm | by The Associated Press | News | Comments

The German government plans to give companies' shareholders a greater say in setting managers' pay. The proposal follows a similar decision by voters in neighboring Switzerland this year and comes as Germany prepares for national elections.

Ferrari To Sell Fewer Cars To Boost Exclusivity

May 8, 2013 10:12 am | by The Associated Press | News | Comments

Ferrari says it will limit sales of its high-performance street cars this year to below 7,000 units to protect the brand's aura of exclusivity. Chairman Luca Montezemolo says that means sales will decline overall by "more than 1 or 2 percent" from last year's sales of 7,318 cars. Sales in the first four months have risen 4 percent over last year.

Is The United States Ready To Take Manufacturing Back?

May 8, 2013 8:05 am | by Patrick Van den Bossche, Pramod Gupta, Hector Gutierrez, Chui Lee — A.T. Kearney | Articles | Comments

Word on the street is that substantial portions of previously offshored manufacturing operations are due to return to the United States. A number of macroeconomic factors seem to have tipped the balance in favor of domestic manufacturing.

ISM: Manufacturing Slowing, But Still Expanding

May 8, 2013 8:00 am | by Jon Minnick, Associate Editor, Manufacturing Business Technology | Articles | Comments

Economic activity in the manufacturing sector expanded in April for the fifth consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business. The PMI number indicated expansion in manufacturing for the fifth consecutive month, but at the lowest rate of the year. Although U.S. manufacturing continued to slow in April, underlying metrics show there is more good news than there is cause for concern.

U.S. Job Postings Fell In March; Hiring Slowed

May 7, 2013 2:33 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. employers posted fewer job openings in March compared with February and slowed overall hiring, underscoring a weak month of job growth. The Labor Department said Tuesday that job openings fell 1.4 percent to a seasonally adjusted 3.8 million jobs. Total hiring declined 4.3 percent to 4.3 million.

Sector Snap: Solar Companies Decline

May 7, 2013 2:26 pm | by The Associated Press | News | Comments

Solar companies took a hit Tuesday after First Solar fell short of Wall Street expectations for the first quarter and announced job cuts in North America. First Solar, which had offered a very rosy outlook just last month, led the way down, declining nearly 10 percent after hitting new highs for the year on Monday before it released earnings.

China's Struggling Automakers Jump On SUV Boom

May 7, 2013 10:09 am | by Joe McDonald, AP Business Writer | News | Comments

BYD is known for electric cars but this year's flagship model is the S7, a gasoline-powered SUV. It comes with an air purifier, radar to help with backing and digital TV. An onboard hard drive can hold 1,000 films. This is China's Year of the SUV. Whatever their specialties used to be, automakers ranging from global brands to China's ambitious rookies are scrambling to cash in on the explosive popularity of sport utility vehicles.

GM Stock Climbs, Then Drops After Analyst Report

May 7, 2013 10:06 am | by The Associated Press | News | Comments

Shares of General Motors rose more than 4 percent early Monday after an analyst raised his earnings estimates and stock price target. But the shares gave up all of their gains and then some in late-afternoon trading. Last week, GM said its first-quarter profit fell 14 percent to $865 million, or 58 cents per share.

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