General Motors plans to idle Corvette production in Kentucky for six months to prepare for the next generation of the iconic sports car. The automaker laid out its schedule Thursday for revamping its assembly plant in Bowling Green for the all-new 2014 model. Production will halt sometime in February to make way for retooling, renovating the body shop and retraining employees, GM spokesman Monte Doran said.
Talks to sell Hawker Beechcraft's operations to China's Superior Aviation Beijing Co. have collapsed and the Wichita plane maker said Thursday that it now plans to emerge from bankruptcy protection as a slimmed down company in the first quarter of 2013.
Satcon Technology Corp. on Wednesday filed for Chapter 11 bankruptcy protection following years of financial struggles and a severe downturn in the solar power industry. Steve Rhoades, Satcon's president and CEO, said that after considering its alternatives, the company's board decided that the Chapter 11 filings were a "necessary and prudent step" that would allow the company to continue to operate while it reorganizes.
Dennen Steel Corp. has opened its new manufacturing facility in the northeastern corner of Mississippi. Gov. Phil Bryant was among those attending a ceremony Tuesday at the 50,000-square-foot plant at Yellow Creek Port in Iuka. Workers will turn slit steel coils into precision stampings, fabricated metal parts and assemblies.
Hillenbrand Inc. on Tuesday said it will acquire Germany's Coperion Capital GmbH for 232 euros, or about $300 million, expanding Hillenbrand's industrial products operations as the company diversifies beyond its traditional business making burial caskets.
The U.S. operations of electric car battery maker A123 Systems filed for bankruptcy protection and its automotive assets are being acquired by Johnson Controls for $125 million. The announcement Tuesday comes one day after A123 warned in a regulatory filing that it likely would miss some debt payments and could be headed for bankruptcy court.
International auto parts company Gestamp has cut the ribbon for its new plant in South Charleston. A dedication and ribbon-cutting ceremony was held at the plant Monday. The plant is located at the former South Charleston Stamping and Manufacturing Plant. Gestamp is an international company based in Spain.
U.S. farm and industrial vehicle group CNH has rejected a merger proposal from its parent, Fiat Industrial, the Italian company said in a statement Monday. Fiat Industrial, which already owns 88 percent of CNH, said in a statement that it has asked to meet with the U.S. group's advisers to see if they can reach agreement on revised terms "within the next several weeks" to salvage the deal.
A Wichita delegation plans to meet with the potential buyer of Hawker Beechcraft during a five-city business development trip to China. Mayor Carl Brewer wants to ask Superior Aviation Beijing whether the work and employees will remain in Wichita, should the deal go through.
Earlier today, Danaher Corporation and Cooper Industries announced the sale of their joint venture, Apex Tool Group, to Bain Capital for approximately $1.6 billion subject to post-closing adjustments. Currently, Danaher and Cooper each maintain a 50 percent joint venture ownership interest in Apex.
Century Aluminum Co. on Tuesday rejected a proposal meant to aid the restart of its West Virginia smelter. The California-based metals producer announced that the electricity rate offer from the state Public Service Commission falls short.
A deal to create a European defense and aerospace giant to rival Boeing Co. collapsed Wednesday when Britain's BAE Systems and EADS NV called off their merger discussions. The companies said they had "decided to terminate their discussions" over the proposed $45 billion tie-up because of conflicting interests between the British, French and German governments.
The drugmaker announced that it will move its global headquarters within New Jersey as it looks to lower operating expenses and consolidate properties. The Whitehouse Station property houses about 2,000 employees and contract workers. They will either move to Summit or to other facilities in New Jersey. The Summit location currently houses research, manufacturing, animal health, and consumer care operations.
A factory in Prescott that makes roofing materials marked the opening Monday of its $36 million expansion and addition of 100 new jobs. Firestone Building Products Co. consolidated work from a plant at Kingtree, S.C., with its modernized factory in Prescott.
Hewlett-Packard Co. would be better off breaking up into two separate companies instead of tormenting shareholders by pursuing a prolonged turnaround attempt, according to an industry analyst. UBS analyst Steven Milunovich concluded that HP should be split up after attending a management presentation that brought the company's challenges into sharper focus.
Tool maker Stanley Black & Decker Inc. is selling its hardware and home improvement business to Spectrum Brands Holdings Inc. for $1.4 billion in cash. The hardware and home improvement unit makes locksets, hardware and faucets for residential use and includes brands such as Pfister, Baldwin and Kwikset.
The aerospace and defense contractor will split its electronic systems division into two separate units that will help to lower costs and streamline its operations. It is also folding its global training and logistics unit into the two divisions being created from the electronics systems business.
By adapting their operations to flex with markets, smart manufacturers with global footprints are learning to profit from permanent volatility, while insulating themselves against downside risk and simultaneously moving with speed and agility to capitalize on opportunities as they arise.
CAS DataLoggers recently provided an effective productivity monitoring solution for the Wells-Lamont Industry Group, a high-production work glove manufacturer and member of the Marmon Group of companies. Their factory in Philadelphia, MS produces hand-stitched quality products from Kevlar and other materials.
News about manufacturing growth is usually well received. When that expansion relates to a European company growing its presence in the U.S., it’s even better. And when there are significant lessons that can be learned from this particular expansion, it warrants a closer look. This brings us to Plymouth, Minnesota where Germany-headquartered TURCK recently doubled the size of a production and distribution facility.
Foxconn Technology Group denied on Saturday that production was affected at a Chinese factory that makes Apple's iPhones, although both state media and an overseas labor watch group said some workers halted production lines on Friday, apparently over higher quality control standards.
Bombardier Learjet workers rejected a contract offer and voted to strike Saturday, moves that will have them walking the picket line starting early Monday, a machinists union spokesman said. Bob Wood told The Associated Press that union members voted 79 percent in favor of rejecting the proposed five-year contract and also 79 percent in favor of a strike.
About 450 mechanics and fleet service workers at American Airlines' Tulsa maintenance base will be laid off by February, the company and union officials announced Friday. The figure is much lower than the 2,700 workers the embattled airline estimated it needed to cut in Tulsa when it filed for bankruptcy protection in November, after its parent, AMR Corp. of Fort Worth, Texas, lost $11 billion since 2001.
The Food and Drug Administration found what it called "objectionable conditions" at a New Mexico peanut butter plant in 2010, two years before the current outbreak of salmonella poisoning linked to Trader Joe's peanut butter produced there. The FDA said Friday that a recent inspection found salmonella in the plant which produced nut butters and nut products for several large national grocery chains.
Coming off the biggest quarterly loss in Hewlett-Packard's history, CEO Meg Whitman braced investors for even more trouble ahead as she methodically tries to fix a wide range of longstanding problems. Those challenges will be compounded by a feeble economy that Whitman expects to weaken even more during the next year.