Nestle USA says it will spend $72 million to add a new production line to the central Indiana plant where it makes several beverage products. The expansion project will start up a seventh production line at the factory along Interstate 69 in Anderson. The company says it will be making more of its Boost and Carnation Breakfast Essentials drinks at the plant.
BlackBerry has agreed to sell itself for $4.7 billion to a group led by largest shareholder, Fairfax Financial Holdings Ltd. BlackBerry said Monday that a letter of intent has been signed and its shareholders will receive $9 in cash for each share. But while the smartphone maker has agreed to a takeover bid, its struggles are far from over.
Yokohama Tire Corporation officials and state leaders gathered Monday for ceremonial ground breaking for a manufacturing facility that is expected to create hundreds of jobs. Gov. Phil Bryant, company executives and others gathered for the ground breaking ceremony in West Point, where the company will manufacture commercial truck tires.
Lockheed Martin Corp. said Monday that it was awarded a $3.9 billion deal to provide missile defense equipment for the United States and the United Arab Emirates. The contract includes making up to 110 interceptors for the U.S. Army and 192 interceptors for the UAE. It will also make ground equipment for the UAE. Missile defense systems are able to detect and destroy any incoming missiles.
Financing for a $1.1 billion steel mill planned for northeast Arkansas expects to be wrapped up by the end of the year, but until then backers will be lining up customers and suppliers. The Big River Steel plant, which is projected to employ more than 500 people, recently was approved for an air quality permit from the Arkansas Department of Environmental Quality, pending resolution of any objections that are due before mid-October.
Ford says it will sink 700 million Canadian dollars ($680 million) into an assembly plant near Toronto to add models and meet increased demand for vehicles around the world. The investment will preserve the Oakville, Ontario, plant's 2,800 jobs and expand its manufacturing capability, the company said Thursday.
Japan's Nissan Motor Co. said Friday it will build a car assembly plant in Myanmar to begin manufacturing the Nissan Sunny compact sedan in 2015. The company said the Myanmar Investment Commission approved its application for the joint venture auto plant with Malaysia's Tan Chong Motors on Aug. 15.
Pratt & Whitney and Rolls-Royce are ending a joint venture to develop engines for mid-size aircraft, citing in part the current regulatory environment. Pratt & Whitney says it will continue to invest in and develop applications of its engine for powering the next generation of midsize aircraft. That's aircraft designed for about 120 to 230 passengers.
Tennessee has not made economic incentives for Volkswagen contingent on the German automaker rejecting the United Auto Workers union at its Chattanooga assembly plant, Gov. Bill Haslam said Wednesday. A top Democrat in the state House last week alleged that Haslam was trying to use economic incentives to sway Volkswagen against working with the UAW.
Ecotality, which makes charging systems for electric vehicles, has filed for Chapter 11 bankruptcy protection and wants to sell its assets in an auction. Ecotality Inc. said it made the filing Monday in Arizona. The company had said in August that it might be forced into a sale or bankruptcy filing after disappointing sales and a suspension of payments from the federal government.
Ford Motor Company is a global automotive industry leader, manufacturing or distributing vehicles across six continents. With 175,000 employees and 65 plants worldwide, the company has leveraged the dedication of its employees and UAW partnership to become more efficient, improve its product cadence, and be a more effective automotive industry competitor than ever before.
Dozens of layoffs are still expected at the Boise Inc. plant in International Falls, despite news the company is being acquired by Packaging Corp. of America. International Falls plant spokeswoman Lori Lyman tells WDIO-TV the acquisition doesn't change the loss of 265 local Boise jobs.
Chattanooga, Tenn., beat out 400 other cities to be the home of a new VW plant five years ago, which created jobs for 2,500 people. Jessica Davis is one of the workers who belong to the manufacturing middle class America is trying to rebuild. CBS News' Mark Strassmann reports.
In this issue, Ford readies its Kansas City location for 2,000 new jobs, a connector expert explains how to prevent downtime, experts discuss proper product selection for threadlocking and gasketing, and more.
Gov. Bobby Jindal and Benteler Steel/Tube marked the start of construction Monday with a groundbreaking on the company's new $975 million hot rolling seamless steel tube mill in Caddo Parish. The Paderborn, Germany-based company said the Louisiana site at the Caddo-Bossier Port was chosen from more than 100 possible locations due to its proximity to the North American oil and gas production market and the area's skilled workforce.
North and South Koreans got back to work Monday at a jointly run factory park after a five-month shutdown triggered by rising animosity between the rivals, with some companies quickly resuming production and others getting their equipment ready. South Korean business owners who have lost millions of dollars because of the hiatus say they'll need several months to recover.
Daimler Trucks North America announced Friday it will expand its Portland headquarters after state and city officials offered nearly $20 million in incentives. The unit of Daimler AG said its new building will house 400 new white-collar workers and hundreds of existing employees who now work in rented offices across the Willamette River.
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.