Authorities in Temple say they are hoping to rebuild an old factory into a municipal complex in about a year. Mayor Rick Ford tells The Times-Georgian that the City Council will discuss the issue Monday and potentially approve a bid for the work. The town plans on demolishing the old Sewell Manufacturing Plant.
Toyota Motor Corp. has no plans to build new factories in the near future as the automaker will shift its focus to investing in its existing plants, company officials said Monday. The automaker's plans to build new factories in Thailand and Indonesia in 2013 will remain intact, they said.
When the word reached the Orion Assembly Plant, it spread along the serpentine assembly line like news of a death or natural disaster: GM had filed for bankruptcy protection. But there was something that the workers didn't know: They were witnessing the opening act of one of the greatest recovery stories in American business.
Boeing Co. said on Thursday that it delivered 601 planes last year, putting it on track to beat European rival Airbus as the top plane maker for the year. Airbus has beaten Boeing in deliveries in recent years, but Boeing is now cranking out its new 787 and a revamped 747 after delays for both aircraft.
Global steel giant ArcelorMittal will sell a 15 percent stake in one of its Canadian iron ore operations to an Asian-led consortium for $1.1 billion in cash. In the transaction announced Wednesday, a group led by South Korean steelmaker POSCO and China Steel Corp. will enter into a joint venture partnership that will own ArcelorMittal's Labrador Trough iron ore mining and infrastructure assets.
Blue Giant Equipment Corporation is pleased to announce the launch of its U.S. operation, Blue Giant Equipment LLC, which is marked by the opening of a new manufacturing facility in Greensboro, North Carolina.“We are excited to expand our presence into the United States to better serve our customers,” says Jeff Miller, Blue Giant LLC’s President.
Nissan Motor Co. President and Chief Executive Officer Carlos Ghosn expressed hope that the recent change in leadership in both Japan and China will bring about an improvement in strained bilateral economic relations and a recovery of auto sales in China.
Bell Helicopter Inc. will add a second manufacturing plant in Piney Flats, Tenn. Gov. Bill Haslam and other state officials announced Thursday that the $10.1 million investment in Sullivan County is expected to create 125 new jobs. The expanded operations will take place in a 150,000-square-foot-building Bell bought near its current facility.
Fiat CEO Sergio Marchionne will invest €1 billion ($1.32 billion) in the auto company's southern Italian factory to produce two SUV new models for global export. The Italian automaker hopes the investment will revive its severely underutilized plants in its home country — where new car registrations are down by 20 percent this year, compared with 7 percent in the European Union.
PSA Peugeot Citroen and GM have unveiled the first vehicles they will develop together as part of a joint venture they hope will reduce costs and re-energize their businesses. The French and American automakers said Thursday that they plan to share development for three kinds of cars: a small family van, a small multi-purpose van and a low-emissions vehicle.
General Motors is moving production of the next version of its Camaro sports car from its Canadian operation in Oshawa, Ontario to a plant in Michigan. GM Canada said a statement Wednesday that "lower capital investment and improved production efficiencies were key factors" in the move.
The new Chobani yogurt plant in Twin Falls opened in grand fashion Monday, with appearances from company executives, Idaho political leaders, Olympic athletes and a marching band. After nearly a year of construction and planning, the New York-based Greek yogurt maker celebrated the opening of one of the biggest yogurt plants in the world in the heart of Idaho's milk producing region.
Mitsubishi Motors Corp. said Monday that it has completed the sale of its wholly owned subsidiary that operates a plant in the Netherlands to the country's VD Leegte Beheer B.V. for one euro, in line with an agreement reached in July. The sale of Netherlands Car B.V. results in a one-off loss of some 25.1 billion yen, according to the Japanese automaker.
A firm headed by Democratic gubernatorial candidate Terry McAuliffe never provided Virginia officials enough details to obtain economic development incentives, according to an AP review of state records. McAuliffe claimed that the Virginia Economic Development Partnership didn't want to bid on GreenTech Automotive's proposed plant to manufacture tiny, low-speed, all-electric two-seaters, so the project went to Mississippi.
Think you might need a "bathtub truck," a tank on wheels that Hershey Co. employees once used to haul liquid chocolate from one part of the plant to another? Or maybe a telephone booth? The Hershey Co. has two of those for sale in an auction this weekend to get rid of the thousands of items in the old plant on East Chocolate Avenue.
Chrysler Group LLC is seeking tax incentives for its transmission plant in Kokomo at the same time it's asking Tipton County officials for similar incentives on a vacant plant. Chrysler spokeswoman Jodi Tinson confirmed Friday that the automaker had asked the city to approve tax abatement, but she wouldn't discuss any further details.
Thai agriculture conglomerate Charoen Pokphand Group said Thursday it has agreed to set up a joint venture with China's largest automaker, SAIC Motor Corp., with the aim of opening an auto factory in Thailand in the next two years. The joint venture, under the name of CP Motor Holding Co., will facilitate Thailand's ambitious efforts to become the "Detroit of Asia," said Noppadon Chiaravanont.
Mitsubishi Heavy Industries Ltd. said Thursday it will buy the small- and medium-size gas turbine business of U.S. aeroengine maker Pratt & Whitney to further strengthen its energy business. The move comes after Mitsubishi Heavy recently announced a merger of its thermal power generation business with that of Hitachi Ltd. to increase its international competitiveness.
Pratt & Whitney is selling its turbine business in order to better focus more on its core aerospace and commercial businesses. Terms of the sale of the Power Systems segment to Mitsubishi Heavy Industries were not disclosed Wednesday, but the deal is expected to close in the second quarter of 2013.
A bankruptcy judge on Tuesday approved the sale of most of the assets of failed battery maker A123 Systems Inc. to the U.S. arm of Chinese auto parts conglomerate Wanxiang Group Corp. for nearly $257 million. In asking Judge Kevin Carey to approve the sale, attorneys for A123 noted that the winning bid submitted by Wanxiang America Corp. last week was more than double an initial $125 million offer.
Germany's vice chancellor has sharply criticized General Motors Co. over its decision to end car production at a German plant, arguing that the U.S. automaker was wrong to keep its European unit out of lucrative overseas markets. GM's Opel subsidiary said Monday it will stop making cars at Bochum, one of four German factories, in 2016 — though the plant may continue to make components.
General Motors Co.'s Opel unit said Monday that it plans to end car production at one plant in Germany in 2016, but a slimmed-down factory may continue to make components. Employees at the Bochum plant in northwestern Germany, one of four in the country, were told that vehicle production will end when the company stops making the current Zafira model.
Bankrupt battery maker A123 Systems Inc. said it will sell most of its assets to the U.S. arm of Chinese auto parts conglomerate Wanxiang Group Corp. for $256.6 million. Wanxiang America Corp. won an auction conducted under the supervision of the U.S. Bankruptcy Court for the District of Delaware.
The head of American Crystal Sugar Co. said Thursday that the company is still willing to negotiate with locked-out factory workers, but he didn't think it was a good idea to let them parade around at the company's annual shareholders meeting.
The factory where 112 garment workers died in a fire should have been shut down months ago. The fire department refused to renew the certification it needed to operate, a top fire official told The Associated Press. And its owner told AP that just three of the factory's eight floors were legal. He was building a ninth.