The Paris bourse will drop PSA Peugeot Citroen from its CAC-40 index of leading French companies after a dismal year for the carmaker, the exchange operator said. It's a major blow for the company, which has been a part of the index since it was created in 1987, and is an iconic brand in France.
A federal judge in New Orleans has refused to dismiss claims from homeowners who say a Chinese drywall manufacturer's product damaged their property. Taishan Gypsum Co. Ltd. argued that U.S. courts don't have jurisdiction over claims against the Chinese company, but U.S. District Judge Eldon Fallon rejected that argument Tuesday.
Engine maker Cummins Inc. said it has instituted a global hiring freeze for at least the rest of this year with an uncertain impact on announced expansions of its Indiana operations. The move by the Columbus-based company comes after seeing a recent drop in sales in some of its markets in North America, China, and Brazil.
Honeywell International Inc. said Wednesday that it got a $735 million contract to provide and maintain engines for the Israel Ministry of Defense's advanced jet trainer fleet. The F124 Turbofan engines it will provide under the deal are produced by the International Turbine Engine Co., a partnership of Honeywell and the Aerospace Industrial Development Corp.
Ford Motor Co. on Thursday unveiled 15 new or restyled vehicles for the European market that it will launch over five years to revive slumping sales. Ford executives announced that the Detroit carmaker will accelerate new car launches, expanding its lineup of SUVs, restyling the hot-selling Fiesta, redesigning its commercial vehicles and launching the iconic Mustang sports car in Europe.
The chairman of Suzuki Motor Corp. said that daily production at its riot-ravaged plant in India will shortly reach about 800 vehicles, around half the level prior to the unrest. Osamu Suzuki, however, told a news conference in Tokyo that it will "take a bit more time" for the plant operated by Maruti Suzuki India Ltd. in Manesar to return to full output.
Nilfisk-Advance Group, one of the world’s leading manufacturers and distributors of professional floor cleaning equipment, announced that Jeff Barna has joined the company as President & General Manager of Nilfisk-Advance U.S., the company’s American headquarters located in Plymouth, Minnesota.
German automaker Audi says it will build a new plant in San Jose Chiapa in central Mexico and expects to start construction there in mid-2013. Audi said Tuesday that it settled on San Jose Chiapa, in Puebla state, after looking at more than a dozen locations. It said the site "is an ideal base from which to supply international markets from Mexico."
Many facility managers dread the costs of keeping their workforce comfortable in spacious workplaces every winter. It may seem counterintuitive, but the answer for many facilities is better known for its summer cooling power: ceiling fans. More specifically, large diameter, low speed overhead fans can save facilities on their winter heat bills, with customers reporting savings of 35 percent.
GM's Vauxhall brand will close two plants in Britain for a week starting Sept. 24 because of weak auto markets in crisis-hit Europe. The closures at Ellesmere Port and Luton will idle some 3,000 workers. Vauxhall communications director Denis Chick said Tuesday the workers would still be paid and their hours would be banked, to be worked off later.
A Hong Kong-owned company says it has completed the acquisition of bankrupt car maker Saab and will move ahead with its business plan to make electric cars under the Swedish brand. National Electric Vehicle Sweden, or NEVS, said Monday it expects to introduce its first electric vehicle "in approximately 18 months."
Car sales in China and Europe may be slowing down, but Southeast Asia is on a tear. Ford Motor Co. said Friday that industry-wide sales are up 20 percent so far this year in its ASEAN region, which is made up of Thailand, Indonesia, Vietnam, the Philippines and Malaysia. That's double the pace of sales increases in China and the U.S. in July.
A company that makes cabinets and upholstery for aircraft has announced plans to expand its manufacturing operations and move its plant to a new building in Sherwood. Custom Aircraft Cabinets announced Friday that it will move from its current plant in North Little Rock into the former National Home Center building in Sherwood.
Toyota Digital Cruise Inc., a Toyota Motor Corp. arm offering telecommunications services, said Thursday it has started providing overseas data transmission network services for auto parts suppliers that have business transactions with Toyota.
General Motors plans to ask for $120 million in industrial revenue bonds to fund a vast expansion of its Fairfax plant in Kansas City, Kan., government officials said. GM's planned 400,000-square-foot expansion, including a new paint shop, should ensure the future of the plant and its 3,700 workers, Unified Government officials said Wednesday.
Fujitsu Ltd. said it will withdraw from semiconductor chip production in Japan amid deterioration of its chip business due to the yen's appreciation and slack demand. The company will close its Kyushu plant in Kagoshima Prefecture, and sell its Miyagi plant in Miyagi Prefecture and the Aizu plant in Fukushima Prefecture to J-Devices Corp. which makes semiconductor chips under contract.
Bankrupt steelmaker RG Steel is working with creditors to resolve issues surrounding the sales of its steel mill facilities. Attorneys for various creditors told a Delaware bankruptcy judge during a telephone hearing Wednesday that substantial progress has been made on resolving the issues.
The rate of change and advancement in the electronics industry can be startling, especially over the past few decades. The names at the top of the industry today were brand new companies just ten years ago. To survive, an electronics company needs to be as flexible as it is quick. And to excel, that company must be able to overcome both existing and emerging challenges in the market.
A long-delayed South Dakota beef-processing plant given new life when Korean investors took over in 2009 is without an opening date more than six years after it was first proposed. Land for the $109M Northern Beef Packers plant in Aberdeen was secured in 2006, but financial issues, lawsuits, delinquent property taxes, flooding, an economic downturn and millions of dollars in liens have repeatedly pushed back the opening date.
Kraft Foods Group officials say the company's manufacturing facility in Bentonville will close next year. Kraft Vice President of Operations Jim Durkin says the company will achieve greater efficiencies of scale by combining the majority of the plant's production with external partners. Durkin says Bentonville is a smaller plant and its size isn't suitable for the scale the company needs going forward.
For businesses that rely on scientific innovation to differentiate themselves, being first to market with a novel, more effective or attractively priced product is the Holy Grail. But as the lifecycle that transforms a good idea into a viable product grows ever more complex, the very factors critical to success are suffering.
Lexmark is cutting 1,700 jobs, or almost 13 percent of its workforce, and says it will stop making inkjet printers as part of a drive to cut costs as it deals with shrinking sales of inkjets. The printer and software company said Tuesday that it will close its inkjet supply plant in the Philippines by the end of 2015. It is also putting its inkjet technology up for sale.
General Motors will temporarily close the Detroit-area plant that makes the Chevrolet Volt next month to control inventory and prepare to make a new model. Spokesman Bill Grotz says the factory will be off-line to match supply with demand and prepare to build the 2014 Chevrolet Impala. He wouldn't say how long. Grotz says GM is happy with its supply of electric Volts.
Ford Motor Co., eager to grab a piece of China's growing luxury market, plans to start selling its Lincoln luxury brand here in 2014. It will be the first time that the nearly 100-year-old brand will be sold in China. At an event at a converted 600-year-old temple in Beijing, CEO Alan Mulally and other Ford executives said they believe Chinese customers will appreciate Lincoln's heritage as well as its new lineup of vehicles.
Suzuki Motor Corp. Chairman Osamu Suzuki met Sunday in New Delhi with the chief minister of India's northern state of Haryana where a Suzuki car plant was wracked by violence last month following a labor dispute. Suzuki and Chief Minister Bhupinder Singh Hooda are believed to have discussed future operations in Haryana by Maruti Suzuki India Ltd.