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Daily industrial news and top headlines for plant and maintenance managers

Dismal China, India Data Signal Slowing Growth

May 11, 2012 10:05 am | by Elaine Kurtenbach, AP Business Writer | News | Comments

Dismal data from China and India on Friday may signal a further weakening of the global recovery, undermining hopes the dynamic emerging economies of Asia can help prop up growth.

Sony Reports Record Annual Loss

May 11, 2012 9:59 am | by Yuri Kageyama, AP Business Writer | News | Comments

Sony racked up a record annual loss of $5.7B in its fourth year of red ink as the once-glorious maker of the Walkman struggles toward a turnaround under a new president.

ArcelorMittal Net Profit Drops In 1st Quarter

May 10, 2012 2:23 pm | by The Associated Press | News | Comments

The world's biggest steel maker posted a sharp drop in 1Q net profit, announcing earnings of $11M compared with $1.069B for the same period a year ago.

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Micron In Talks To Acquire Japanese Chipmaker

May 10, 2012 2:19 pm | by The Associated Press | News | Comments

U.S. chipmaker Micron Technology Inc. said Thursday it is in talks to acquire Elpida Memory Inc., which earlier this year filed for Japan's largest-ever manufacturing bankruptcy.

U.S. Wholesale Stockpiles Grew In March

May 9, 2012 2:09 pm | by Marting Crutsinger, AP Economics Writer | News | Comments

U.S. wholesalers increased their stockpiles 0.3 percent in March after seeing less growth in sales.

Boeing Sells 3 More 777s To EVA Air

May 9, 2012 2:07 pm | by The Associated Press | News | Comments

Boeing said it sold three 777s to Taiwan's EVA Air. The 777's list price is $298.3M, making the order for three of them worth almost $895M, though discounts are common.

Commodities Fall Broadly On Europe Concerns

May 9, 2012 2:04 pm | by Sandy Shore, AP Business Writer | News | Comments

Doubts about Europe's political and economic future drove prices down for a wide range of commodities Tuesday as worries persisted about future demand for everything from copper and oil to soybeans.

China Auto Sales Up In April, But Down For Year

May 9, 2012 10:09 am | by Elaine Kurtenbach, AP Business Writer | News | Comments

Vehicle sales in China, the world's largest auto market, rose in April but are down for the year amid tighter credit and slower economic growth.

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Toyota Quarterly Profit Quadruples On Recovery

May 9, 2012 10:07 am | by Yuri Kageyama, AP Business Writer | News | Comments

Toyota's quarterly profit more than quadrupled to $1.5 billion, and the automaker gave upbeat forecasts as it recovers from a sales plunge caused by the tsunami in Japan last year.

Colfax Reports 1Q Loss On Acquisition Costs

May 9, 2012 10:06 am | by The Associated Press | News | Comments

The pump and valve maker said acquisition costs helped the company swing to a loss in its first quarter, even as its newly acquired business helped boost revenue sharply.

ISM Report: Pace Of Manufacturing Growth Is Quickening

May 9, 2012 8:52 am | by Mike Schmidt, Associate Editor, MBT | Articles | Comments

Activity in the manufacturing sector and the overall economy has been growing for some time, and now it appears that the pace of growth is quickening.

Electric Toyota RAV4 To Start Near $50,000

May 8, 2012 10:30 am | by Dee-Ann Durbin, AP Auto Writer | News | Comments

Toyota Motor Corp. said Monday the electric RAV4 will cost $49,800 when it goes on sale this summer. That's more than double the starting price of the gas version.

Small Biz Optimism Rose In April But Still Weak

May 8, 2012 10:26 am | by The Associated Press | News | Comments

Small business owners recovered some of their optimism during April, but they're still wary about the economy.

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Denso To Build Auto Parts Plant In India

May 7, 2012 2:27 pm | by The Associated Press | News | Comments

The major auto parts manufacturer will supply products to Japan's Suzuki and other automakers in the country to keep pace with India's expanding auto market.

Oil Price Drops To Lowest Of 2012

May 7, 2012 2:25 pm | by Chris Kahn, AP Energy Writer | News | Comments

Oil prices declined after voters in Europe rejected leaders who supported austerity measures to fix the struggling economy. Analysts warned that the election results could derail the recovery.

Westlake Chemical Drops Bid For Georgia Gulf

May 7, 2012 2:20 pm | by The Associated Press | News | Comments

Westlake Chemical Corp. said Friday that it withdrew a $1.2 billion offer to buy Georgia Gulf Corp. and will sell its stock in the company.

ABB Launches Electric Auto Fast Charger In U.S. Market

May 7, 2012 2:19 pm | News | Comments

ABB has entered the market with the launch of its Terra 51 direct current charger, marking the start of a massive infrastructure rollout to drive the adoption of electric mobility.

Elpida Plans To Select Micron As Rehabilitation Sponsor

May 7, 2012 10:23 am | by The Associated Press | News | Comments

Elpida is the only Japanese maker of dynamic random access memory chips used in personal computers and smartphones, and filed for bankruptcy protection in February.

Industrial Manufacturers Optimistic About U.S. Economy

May 4, 2012 2:54 pm | by PwC | Articles | Comments

Companies are reporting improved profitability and decreased concerns regarding barriers to growth, despite volatile oil/energy prices worldwide and ongoing concerns regarding legislative/regulatory issues.

U.S. Economy Recovering But Not Accelerating

May 4, 2012 2:01 pm | by Paul Wiseman, AP Economics Writer | News | Comments

Economists surveyed by The Associated Press expect growth to pick up this year, though not enough to lower unemployment much.

Booming China Sales Push BMW Profit Up

May 4, 2012 1:59 pm | by David McHugh, AP Business Writer | News | Comments

Booming sales in China and new versions of key models pushed automaker BMW AG's earnings higher by 18 percent in the first quarter to $1.77 billion.

Lear 1Q Profit Falls 14 Percent As Costs Rise

May 4, 2012 1:54 pm | by The Associated Press | News | Comments

The auto parts maker said its first-quarter profit dropped 14 percent, pulled down by restructuring and other charges, along with lower profit at its seating business.

Hawker Beechcraft Files For Bankruptcy Protection

May 4, 2012 10:45 am | by Roxana Hegeman, Associated Press | News | Comments

Hawker Beechcraft said it filed for Chapter 11 bankruptcy protection in federal bankruptcy court in New York to expedite the prearranged restructuring of the company and some of its subsidiaries.

Metals Fall On Discouraging Jobs News

May 4, 2012 10:37 am | by Sandy Shore, AP Business Writer | News | Comments

Prices for copper and other metals fell after discouraging reports about jobs and factory production renewed worries that demand could weaken for a variety of manufactured goods.

Airgas Profit Jumps 40 Percent On Higher Sales

May 4, 2012 10:35 am | by The Associated Press | News | Comments

Industrial gas distributor Airgas Inc. said that its fiscal fourth-quarter profit jumped 40 percent on strong demand from manufacturing, petrochemical, and energy customers.

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