Executives with Yokohama Rubber Co. Ltd. say they will build a new tire plant in Mississippi because they see a global supply shortage for tires. The company plans to invest $300 million, hiring 500 people, in a first phase, and could invest $1.2 billion, hiring 2,000 people, over time. State and local governments could give more than $340 million in aid and tax breaks.
The Disston Company’s CEO and President, Stephen Chen, purchased a 130,000 square foot industrial building in Chicopee, company spokesperson, Mark Marzeotti, today announced. Disston is a manufacturer of saw blades, drill bits, and other hand and power tool-related accessories for the DIY, contractor, and industrial markets. Its brands include Blu-Mol, RemGrit, Aggressor, and Blu-Mol Xtreme.
A Japanese company will get incentives that could be worth more than $330 million to build a tire manufacturing plant in Clay County. Mississippi lawmakers quickly passed the bill intended for Yokohama Rubber Co. Ltd. in a Friday special session, with House members supporting it 117-2 and Senate members supporting it unanimously. The entire session took less than four hours.
Seoul said Friday that it has decided to withdraw the roughly 175 South Koreans still at a jointly run factory complex in North Korea, raising a major question about the survival of the last symbol of inter-Korean cooperation. The statement by the country's minister in charge of inter-Korean relations came after North Korea rejected Seoul's demand for talks on the factory park that has been closed nearly a month.
Emporia officials are hailing Thursday's announcement by the partnership that bought Hostess Brands' snack cake lines that it will reopen the bakery in the eastern Kansas community this summer, with 250 employees to start. More than 500 people lost their jobs when Hostess, then in bankruptcy proceedings, closed the Emporia plant last November following a strike by union bakers.
Finnish metals group Outokumpu Oyj says it will slash 2,500 jobs worldwide in the next four years to cut costs by 350 million euros ($455 million) and improve profitability as stainless steel demand continues to fall. The world's leading stainless steel maker says about a third of the job cuts will be applied this year, mostly in Germany, Sweden and Finland, in line with production capacity reductions and streamlining.
A federal agency has cited an Ohio aluminum plant with eight safety violations following the death of a worker who was crushed by a hot metal rack stacked with heavy aluminum. The federal Occupational Safety and Health Administration, or OSHA, said Thursday that Extrudex Aluminum acted with knowing disregard or plain indifference to hazards at the company's plant in North Jackson in northeastern Ohio.
Mississippi Gov. Phil Bryant is calling lawmakers back to the Capitol this Friday for what many hope will be a quick a special session to lure an auto parts maker to the state. Bryant has released few details about the project, beyond saying it's for Mississippi's "automobile corridor."
An insurance industry trade group estimates losses from a deadly fertilizer plant explosion in a tiny Texas town will likely exceed $100 million. Insurance Council of Texas spokesman Mark Hanna said Wednesday that insured losses after the explosion in West, Texas, included dozens of damaged homes, businesses and cars — as well as the costs of resettling displaced residents.
American Crane & Equipment Corporation, a manufacturer of overhead electric cranes and hoists, has completed phase one of its two phase expansion, financed by PNC Bank with engineering provided by Boyer Engineering. The first phase of construction includes a 2,500 square foot engineering addition with 11 cubicles and 3 offices.
Clear Automation, a leading engineering integrator of robotic and machine vision systems, today announced it has received FANUC Robotics' award for Outstanding Sales Growth for 2012.Clear Automation has been an Authorized System Integrator of FANUC robots for 5 years.
Washington's budget tightening is having a minimal effect on businesses, a survey of business economists released Monday shows. The National Association for Business Economics survey asks how higher taxes and lower government spending effected businesses in the first three months of 2013.
There were no sprinklers. No firewalls. No water deluge systems. Safety inspections were rare at the fertilizer company in West, Texas, that exploded and killed at least 14 people this week. This is not unusual. Small fertilizer plants nationwide fall under the purview of several government agencies, each with a specific concern and none required to coordinate with others on what they have found.
The Department of Commerce and Economic Opportunity is giving an auto parts maker $4.4 million in tax breaks and other incentives after the company agreed to add 300 jobs at its plant in eastern Illinois. The department said Thursday that North American Lighting Inc. will add the jobs at its plant in Paris as part of a $50 million expansion.
Rescue workers searched the smoldering ruins of a fertilizer plant Thursday for survivors of a monstrous explosion that leveled homes and businesses in every direction across the Texas prairie. As many as 15 people were feared dead and more than 160 others injured.
The South Korean entrepreneurs who invested up to 10 years and millions of dollars in the Kaesong industrial complex, a symbol of economic collaboration between the rival Koreas that is now shuttered by the North, have little more than hope to cling to as assembly lines sit idle day after day.
A Delaware bankruptcy judge is approving a settlement between electric car maker Fisker Automotive Inc. and its former battery supplier. The settlement approved Wednesday reduces Fisker's claims against the company formerly known as A123 Systems Inc., now called B456 Systems Inc., by almost 90 percent.
State officials say SGL Carbon will invest $26 million in the company's manufacturing plant in Ozark, where it will add a new workshop. SGL Carbon now employs 90 workers at its plant, which makes graphite electrodes that are used in a process to recycle steel scrap.
Arkansas is set to provide a new steel company with $125 million in financing and a package of tax breaks to build a mill in the northeast part of the state after the Legislature gave final approval to the plan on Tuesday. By an 81-9 vote, House lawmakers passed a Senate-approved budget bill to support Big River Steel.
Manufacturer Caterpillar Inc. said Monday it is reorganizing its operations so many orders will be handled by one division from the time they are placed to the time they are delivered. The new division will combine existing operations from areas including global purchasing, manufacturing logistics and transportation, and Caterpillar production system.
When Tom Donilon, the National Security Advisor for President Obama was asked what the two most pressing issues that kept him up at night, he replied, terrorist attacks and the US declining national competitiveness. The backdrop of 600,000 unfilled manufacturing jobs at a time when unemployment is near 8 percent has most certainly been his nightmare in the making.
Automotive supplier HP Pelzer Automotive Systems will build a plant in Athens, Tenn., bringing 200 new jobs. Gov. Bill Haslam and Economic and Community Development Commissioner Bill Hagerty joined HP Pelzer officials Monday to announce the company will locate a 185,000-square-foot manufacturing facility at the Mt. Verd Industrial Park.
Airbus Americas Engineering says it is planning to expand into a third space in downtown Wichita. The company announced Monday it has already hired more people than had been expected after its last expansion. The firm's vice president of engineering, John O'Leary, says it has hired 150 people, more than the 100 it had planned to hire when it expanded in 2012.
European aerospace giant EADS says in a statement Monday that the deal would see it buy back 1.56 percent of its shares from the French government's current 14.83 percent stake. The company will pay 37.35 euros per share — about the same as French media group Lagardere was paid when it sold its entire stake last week.
Leaders of the Bakery, Confectionery, Tobacco Workers and Grain Millers International union said in a news release that the workers voted 55 percent to accept company management's contract offer. It was the workers' fifth time voting on the contract.