Gov. Mike Beebe on Tuesday unveiled Arkansas' largest ever economic development project, saying investors were poised to build a $1.1 billion steel mill along the Mississippi River if legislators approve startup funding. Big River Steel LLC, to be located near Osceola, would employ 525 people with an average salary of $75,000 — twice the state average.
General Motors announced plans to pour $600 million into a new paint shop and other upgrades at its assembly plant in Kansas City, an investment that likely ensures the facility's long-term viability. Construction on the 450,000-square-foot paint shop, a new stamping press and efficiency enhancements at the Fairfax Assembly Plant will begin this year, the automaker said.
Kansas plane maker Hawker Beechcraft said Friday that its key creditors overwhelmingly backed a proposed reorganization plan in a vote that moves the company closer to emerging from bankruptcy protection as early as next month. The Wichita-based company said that it will seek court approval to exit bankruptcy at a hearing Thursday.
Mitsubishi Heavy Industries Ltd. plans to build a new plant for its subsidiary Mitsubishi Aircraft Corp.'s production of a new small jet now under development, company sources said Thursday. The company intends to secure a 7.8-hectare site neighboring an airport in Toyoyama, Aichi Prefecture, for the plant, which is expected to contribute to invigorating the regional economy through additional employment.
Global manufacturers are constantly looking for ways to make their operations more agile, efficient and profitable. A smart way to reach those goals is to realize the most value from every asset in its supply chain. Barcoding, passive and active RFID, and Real-Time Locating System (RTLS) solutions can be used to make smart business decisions that will help improve operational performance.
The world's leading steel and mining company ArcelorMittal said Thursday it will close a coke plant and six production lines in Belgium, in a move that threatens 1,300 jobs. The company said collapsing demand for steel and structural overcapacity in the sector have forced it to take the measures in eastern Liege, which has had a steel industry going back two centuries.
Toyota's Canadian manufacturing arm will receive nearly $34 million in seed money from Ottawa and Ontario as it builds a new assembly line at its plant in Cambridge, Ont. Ottawa will kick in $16.9 million from the Automotive Innovation Fund, while Ontario will match that with an investment from its Strategic Jobs and Investment Fund.
The big brick Remington gun factory pieces together military-style rifles in a state that has just banned their sale after a string of mass shootings led to a national outcry over civilian ownership of them. Residents of Ilion see the issue far differently: The gun factory is a major local employer and a source of pride for almost two centuries.
Sony Corp., the struggling Japanese electronics and entertainment company, is headed in the right direction although its comeback is not yet complete, its chief executive said Thursday. Kazuo Hirai told reporters that Sony is now more nimble and focused under his leadership which began nine months ago.
Airbus said it was confident it would not run into the same problems afflicting Boeing Co.'s Dreamliner, related to a type of battery both companies use, but lost the crown as the world's largest plane maker to its archrival despite record deliveries.
General Motors says it will invest $1.5 billion in its North American factories this year. North American President Mark Reuss (ROY-sss) announced the figure in a speech Wednesday night but gave no details. The company says specific plans and job numbers will come later.
Hundreds of Peugeot Citroen workers occupied a French factory scheduled to be sold off, largely shutting down production in a protest against planned layoffs at the struggling automaker. The Aulnay plant near Paris has been at the center of a battle over the future of France's largest automaker.
Italian carmaker Fiat SpA wants to extend a temporary layoff scheme in a southern Italian plant to respond to slumping demand and to save money for future investment. Fiat, which owns Chrysler LLC, said the move is necessary to "realize the investment of around €1 billion," or $1.34B, planned for the Melfi plant. Fiat plans to produce two new SUV models there for global export beginning in late 2014.
Hostess has found a new home for its most popular breads, including the iconic Wonder bread. The bankrupt maker of Twinkies, Devil Dogs and other snack cakes said late Friday that it selected bids by rival bakery Flower Foods Inc. to buy six of its bread brands for $390 million.
Boeing officials say they will begin actively marketing the company's Wichita defense facilities by the end of January. The company announced last year that it was closing the Wichita plant and moving work to Oklahoma, Texas and the Pacific Northwest. Boeing owns 97 buildings on 413 acres, with properties ranging from large hangars to tool sheds.
Yanmar Co., a Japanese maker of agricultural equipment, engines and boats, said Wednesday it will build a new plant in Indonesia to produce diesel engine parts and other products. Yanmar said its move to set up the factory at an industrial complex in eastern Jakarta by investing roughly 7.5 billion yen is aimed at enhancing the company's cost competitiveness through overseas production.
Silicor Materials says it has not given up on locating an operation in Mississippi. Last week, Silicor's proposed project in Lowndes County failed when the company missed a deadline to put up $150,000 to secure land and incentives. Local officials said the money was refundable to ensure that Silicor start construction by June 30 of 2013.
Stockmeier Urethanes USA Inc. plans to expand its operations in Clarksburg. President and CEO Christian Martinkat tells The Exponent Telegram that the company is acquiring three-and-a-half to 4 acres and an office building adjacent to its plant from Thrasher Real Estate Investment LLC. The cost of the acquisition is $1.85 million.
A potential deal to sell a North Dakota pasta plant is off the table. Bektrom Foods official Bruce Satrom tells the Grand Forks Herald that the Michigan-based manufacturer has pulled its offer to buy the plant. Bektrom had been negotiating with the family of Leonard Gasparre, who died in 2011. Gasparre built the Cando plant in the mid-1980s and added a plant in Devils Lake in the 1990s.
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.