Fiat and Chrysler CEO Sergio Marchionne said Friday that he is no closer to a deal for the Italian carmaker to take full ownership of Chrysler and in the meantime was moving ahead on the formalities of a public offering for the U.S. group.
Whether we like it or not, globalization has been a major factor in the staying power of many manufacturers. The practice of scattering production, jobs and plants across the globe has delivered great benefits to the consumer and the manufacturer. Companies have been able to squeeze as much efficiency as possible from the products they make so that what we desire is affordable and readily available.
Southwest Fastener has agreed to acquire The Bolt Company of New Mexico (The Bolt Company) under the terms of the agreement on September 10th, 2013. The acquisition combines two highly compatible fastener industry companies, and strengthens the presence of Southwest Fastener in the Albuquerque and in the state of New Mexico.
Buffalo's steel-making history helped the city land a $102 million factory that will produce pipes for the oil and gas industry and create 172 jobs, according to the president of the Dubai-based manufacturer. Gov. Andrew Cuomo said Tuesday that economic incentives for the project, which had been considered for Houston, include $2 million in funding from the sale of unallocated hydropower and up to $6.4 million in tax credits.
Gun manufacturer Sturm, Ruger & Co. could receive nearly $15 million for opening a new factory in the North Carolina community already home to America's largest firearms maker. Mayodan's town council on Monday approved offering Southport, Conn.-based Sturm, Ruger more than $850,000 over 14 years if it meets investment and job targets, The News & Record of Greensboro reported.
Gov. Rick Perry and top executives are attending the opening of a Fort Worth plant where cellphone pioneer Motorola will produce the first smartphone ever assembled in the U.S. Motorola is owned by Google, whose Executive Chairman, Eric Schmidt, will be on-hand Tuesday, as will Motorola CEO Dennis Woodside.
Politicians love promoting "made in America" during an election season but tend to forget about it once the dust settles. And so, for all the praise of American manufacturing in the last campaign – by Democrats and Republicans alike – very little has actually been done. So what happened to a real competitiveness – and – jobs agenda?
The Energy Department said it will lose about $42 million on a loan to a now-shuttered Michigan company that made vans for the disabled. Vehicle Production Group suspended operations in February and laid off 100 workers. The company had paid back $5 million of a $50 million federal loan this spring.
The last surviving manufacturer in the city's Third Ward, the Harri Hoffmann shoe polish company, continues to produce leather creams and lotions in a 121-year-old factory that's dripping in history — in a way that few other vintage factories can claim, the Milwaukee Journal Sentinel reported. The freight elevator, quintessential in a six-story brick building, is powered entirely by water.
Billionaire investor Carl Icahn is ending his bitter takeover fight for struggling computer maker Dell a few days before shareholders are scheduled to consider the latest buyout offer from company founder Michael Dell. Icahn says he still opposes Michael Dell's bid but has determined it would be almost impossible to defeat it in a vote scheduled for Thursday.
Disston Company, manufacturer of hole saws, band saw blades, jig saw blades, reciprocating saw blades, drill bits, and other hand and power tools, held an open house August 30, 2013 celebrating its move to its new facility in Chicopee. Following welcoming remarks from dignitaries and a ribbon cutting ceremony, Disston’s Mike Rau, Vice President of Operations, led visitors on a tour of the plant.
The Timken Co. said Thursday that it plans to split the company into two publicly traded companies. The Canton, Ohio, company's board approved a plan to separate its steel business from its bearings and power transmission business through a spinoff.
Italian carmaker Fiat, which controls Chrysler, will go ahead with investments in its flagship Mirafiori plant in Turin, where it will produce Maserati SUVs. Fiat confirmed the decision Wednesday, after signing a contract with seven unions on flexible work rules.
Toyota Motor Corp. is investing $90 million in its Buffalo, W.Va. manufacturing plant. Gov. Earl Ray Tomblin announced Friday the automaker's investment will create about 80 jobs. Tomblin says Toyota Motor Manufacturing West Virginia Inc. plans to increase production of 6-speed automatic transmissions by 20,000 per month by early 2015.
Nordex USA Inc. is repaying more than $2.5 million it received in incentives after announcing it would halt production on its wind turbine plant in Jonesboro and lay off 40 workers. The Arkansas Economic Development Commission announced Friday that the company would repay $2.31 million to the state and $204,814 to Jonesboro that it had received for the wind turbine plant.
The Illinois Environmental Protection Agency says limited manufacturing may resume at a fire-damaged northern Illinois chemical plant. Agency officials and attorney general's office gave the approval Wednesday for the Nova-Kem plant in the town of Seward, about 18 miles west of Rockford.
Cheesemaker MDS Foods Inc. plans to build an expanded production facility in Manchester. The Tullahoma News reports that a 58,000-square-foot facility will be constructed over two phases. Coffee County industrial board executive director Ted Hackney says employment is expected to grow from 41 to about 70 in the next few years.
For the first time, Ford Fusion vehicles are being built just outside Detroit, a positive sign that the automotive industry is bringing production back to the United States. The company's Flat Rock, Mich., plant near Detroit will start making the Fusion Thursday. Ford hired a second shift of 1,400 new workers to make the Fusion at the plant, which also makes the Mustang sports car.
A group planning a $1.5 billion nitrogen fertilizer plant in northeastern North Dakota has secured a supply of natural gas and is in the process of buying a site. Northern Plains Nitrogen Chairman Darin Anderson said the company is buying land next to Grand Forks' municipal sewage lagoons north of the city and east of Interstate 29, the Grand Forks Herald reported.
Dow Chemical Co. says it will invest $1.06 billion to build two new polyolefins plants and upgrade its ethylene capacity at the company's 3,300-acre site in Plaquemine. The company says the move will create 71 new jobs at the facility and an additional 470 indirect jobs.
Mazda, the longtime also-ran of Japanese automakers, says it came up with innovations in nearly every step of auto manufacturing for a super-efficient assembly line that rolls off vehicles at a stunning rate of one every 54 seconds. The revamped Hofu plant underlines how Mazda Motor Corp. has defied skeptics who predicted the automaker's demise after Ford Motor Co. ended a long partnership.
In a shabby back-alley office in Shibuya, a Tokyo district known for youth culture and tech ventures, defectors from corporate Japan are hard at work for a little known company they fervently believe will be the country's next big manufacturing success.
After several years of investments in sophisticated design and construction of the most recent extension phase housing its new Bio-Circle facility, the entire 92,000 sq. ft Walter Surface Technologies International campus is now complete on its original Montreal (Pointe-Claire,Qc) site and is poised to grow in all of its business segments.
Gary, Indiana is far from its glory days when it was a thriving steel town. The official unemployment number is close to 10 percent, but today, the mayor of this rust belt small town is literally getting her hands dirty in hopes of revitalizing it.
Atlas Copco AB and Edwards Group Ltd. have entered into an agreement where Atlas Copco will acquire Edwards, a leading global supplier of vacuum and abatement solutions for an amount of up to BSEK 10.6 (BUSD 1.6). The company is headquartered in the United Kingdom and listed on the NASDAQ stock exchange in New York.