French workers have hit back at scathing comments made about them by an American tycoon. Maurice Taylor, the CEO of U.S. tire company Titan International told France's industry minister in a letter published by French media that he didn't want to take over a struggling tire plant as the workforce ''works only three hours.''
An Egyptian company planning to invest $1.4 billion to build a fertilizer plant in southeastern Iowa may have to pay for archaeological digging at the site because Native American artifacts were found there, the state archaeologist said Wednesday.
A food processor and manufacturer says it will open a $4.7 million production facility in Clinton, creating more than 200 jobs. Global Food Group says it will renovate an existing facility and create 224 jobs. The plant will produce sandwiches, quesadillas, tortillas and burritos for retail sales.
The Arkansas Economic Development Department says it is finishing a package of information on the proposed $1.1 billion Big River Steel LLC mill that legislators will be able to use in deciding whether to help fund the project. AEDC spokesman Joe Holmes said staff members are putting the final touches on the package.
U.S. plane maker Beechcraft Corp., formerly Hawker Beechcraft, has emerged from bankruptcy protection as a slimmed-down company. The renamed company's formal announcement Tuesday comes just two weeks after its reorganization plan was approved by the U.S. Bankruptcy Court in the Southern District of New York. The plan became effective Friday.
Industrial equipment maker Illinois Tool Works Inc. said Tuesday that it may sell or spin off its industrial packaging segment. The division, with 2012 revenue of about $2.4 billion, designs and makes steel, plastic, and paper products used for bundling, shipping, and protecting transported goods. Its brands include Signode, Strapex, Angleboard and Mima.
Wheeling-Nisshin expects to begin production of a new product at its plant in Brooke County by the end of the year. The company is spending $28 million to add a new corrosion-resistant, hot dip coated steel sheet line at its Follansbee plant.
The price tag for a South Carolina project intended to turn weapons-grade plutonium into fuel for nuclear reactors has gone up by $2B, according to a report. The assertion by the General Accountability Office means that the overall cost for the National Nuclear Security Administration project is now estimated at just under $7B, with still several more years to go before the facility is expected to open.
A company with its roots in a teenager selling bottles of horseradish is now as much a symbol of Pittsburgh as steel. That's part of the reason why the $28 billion sale of the ketchup-making food giant H.J. Heinz Co. resonates so profoundly with Pittsburghers.
Billionaire Warren Buffett, the most closely watched investor in America, is putting his money in ketchup, agreeing Thursday to buy H.J. Heinz Co. for $23.3 billion in the richest deal ever in the food industry. For his money, the Oracle of Omaha gets one of the nation's oldest and most familiar brands, one that's in refrigerators and kitchen cupboards all over the U.S.
A U.S. Energy report accuses a Michigan-based battery maker of wasting federal funds and failing to move production to the state from South Korea. The report released by the Energy Department says Holland-based LG Chem Michigan spent $142M in American Recovery and Reinvestment Act funds but hasn't "yet achieved the objectives outlined" in its plan for producing lithium-ion polymer batteries.
State officials say a new manufacturing facility in Jasper County is expected to create 90 new jobs. The Rockdale Citizen reports that Norton Packaging Inc. broke ground Tuesday for the new facility in Monticello. Norton Packaging specializes in containers. It will manufacture plastic injection molded rigid shipping containers at the 76,000-square-foot Monticello plant.
Ball Corp. says it plans to end production at its food and aerosol packaging manufacturing plant in Elgin, Ill., in December. The move affects 245 employees, who can apply for open positions within the company. The Elgin plant makes aerosol cans, specialty steel cans, and flat steel sheet used by other Ball plants.
The planned $1.1 billion steel mill in Osceola carries the promise of a long-term economic boost for northeast Arkansas, but investors — including the state — face a number of risks. Legislators must decide whether it's worth borrowing $125 million, then giving $75 million of it in grants to Big River Steel LLC.
A lawsuit challenging plans to take troubled personal computer maker Dell Inc. private is being filed in Delaware. The lawsuit filed Wednesday claims that company founder Michael Dell and a group led by investment firm Silver Lake are trying to buy the Round Rock, Texas-based computer maker on the cheap for $24.4 billion, or $13.65 per share.
Gov. Mike Beebe and state economic officials told Arkansas senators Monday that the state borrowing $125 million to help fund a planned $1 billion steel mill in Osceola is a good investment. Arkansas Teacher Retirement System trustees endorsed the project by agreeing to invest $60 million. Beebe said the prospect of a long-term economic boost in northeast Arkansas is worth the risk of the state investment in Big River Steel LLC.
A federal judge gave the final nod Friday to Hawker Beechcraft's reorganization plan, clearing the way for the plane-maker to exit bankruptcy later this month. Bankruptcy Judge Stuart Bernstein ruled Friday that the reorganization plan complied with the requirements of the bankruptcy code, finding the company proposed the plan in good faith to maximize the value of the estate and carry out the reorganization.
American Axle & Manufacturing Holdings Inc. said Friday that it will spend more than $100 million on a Michigan manufacturing plant to add new production lines, increase shipping capacity and other items. The investment is expected to create 500 jobs and help the company expand its product lineup and customer base in North America.
KSM Castings NC Inc., a German-based maker of light metal casting products for the automotive industry, is establishing its first U.S. plant in North Carolina, creating 189 jobs and investing more than $45 million. Gov. Pat McCrory and state Commerce Secretary Sharon Decker announced Friday that KSM plans to create the jobs by the end of 2018.
Anyone who watched the Super Bowl last year likely caught a glimpse of Clint Eastwood proclaiming that it was “halftime in America.” The country had been knocked down: The housing bubble had burst and top U.S. automakers – employing thousands of American workers – had sought a government bailout.
Pennsylvania is a growing energy leader in the United States, becoming a net exporter of natural gas in 2011. They have seized opportunities the Marcellus Shale boom has provided, and expanded into global leaders in natural gas—and are making the region known for its industrial innovation and talent, truly fueling a new industrial revolution.
A bankruptcy judge signaled Thursday that he's close to signing off on a reorganization plan for Kansas aircraft-maker Hawker Beechcraft. "Assuming I don't have a problem with it, I'll approve it," Judge Stuart Bernstein said as he reviewed a draft plan with lawyers at a federal bankruptcy court in Manhattan.
Nippon Steel & Sumitomo Metal Corp. and ArcelorMittal S.A. of Luxembourg are considering jointly acquiring a U.S. plant of Germany's ThyssenKrupp AG that has been supplying steel sheets to automakers operating in North America, sources familiar with the matter said Wednesday.
Pro-union workers said Tuesday that Nissan Motor Co. has threatened to close its Canton assembly plant if workers vote for the United Auto Workers to represent them, though the company denies such threats. Such threats would violate federal law, which bars managers from telling employees they'll close a plant in retaliation for a pro-union vote.
Despite a struggling general economy, national industrial real estate fundamentals continued to strengthen, posting declining vacancies and modest rent growth in most markets. Of the 74 industrial markets tracked by Cushman & Wakefield and its Alliance Partners, just 10 recorded year-over-year vacancy increases at the end of the third quarter.