Bank officials say an auction of equipment at a failed sweetener plant in Moberly has so far raised less than 5 cents for every dollar spent to finance the project. UMB Bank, the bondholder trustee for Mamtek U.S. Inc., said the Oct. 24 auction raised $1.8 million, but not every buyer at the auction has paid for their purchases.
Weak demand for solar glass has caused AGC Glass North America to permanently close its Blue Ridge Plant in Kingsport. The Kingsport Times-News reported company officials told the 70 workers Wednesday morning the plant is being closed and sent most of them home.
Caterpillar Inc. says it will continue to idle factories and cut production into next year due to a slowdown in demand for its mining and construction equipment. Mike DeWalt is director of investor relations for Peoria-based Caterpillar. Crain's Chicago Business says DeWalt said that Caterpillar has been hard hit by a slowdown in mining.
It remains "business as usual" for Suzuki in Canada despite a decision by its counterpart in the U.S. to discontinue auto sales and seek court protection from its creditors while it focuses on other products. "Suzuki Canada has no current plans to discontinue automobile sales in Canada nor are we contemplating any form of court-supervised restructuring as they have done in the United States," Suzuki Canada spokesman Bill Porter said.
Wind tower manufacturer DMI Industries Inc. in North Dakota has shut down. West Fargo's economic development director says the future of the DMI plant isn't known because officials with the Texas-based company that recently bought the plant aren't immediately revealing their plans.
American Suzuki Motor Corp. on Monday filed for Chapter 11 bankruptcy protection and said it will cease selling automobiles in the U.S. as part of a plan to restructure its business. The company, based in Brea, Calif., is the sole distributor of Suzuki Motor Co. vehicles in the continental U.S.
A Delaware judge has authorized a Chinese auto-parts maker to provide bankruptcy financing for battery maker A123 Systems. The judge gave interim approval Monday for Wanxiang (wang-SHIN) Group to provide $50 million in financing to A123, which filed for bankruptcy protection last month.
Indiana's oldest ethanol plant has shut down indefinitely. New Energy Corp. President Russ Abarr tells the South Bend Tribune (http://bit.ly/RNOBg7) the plant shut down last week, idling 40 employees. Abarr says an undetermined number of workers will stay on the job as the plant that opened in 1984 prepares to remain idle for at least several months.
The Hershey Co. has won approval to tear down part of the chocolate factory built by founder Milton Hershey following the shifting of production across town. The Derry Township Design Review Board on Monday approved the chocolate maker's plan to tear down much of the East Chocolate Avenue building, leaving behind the iconic smokestacks and bushes that spell out "Hershey Cocoa."
Spirax Sarco has been commended by the U.S. Department of Energy on its energy efficiency accomplishment over the past year. As a Partner of the U.S. Department of Energy’s Better Buildings, Better Plants Program, Spirax Sarco has joined over 100 other industrial firms in a voluntary pledge to reduce the corporate-wide energy intensity of their manufacturing operations by 25 percent in 10 years.
One of the last U.S. apparel manufacturers of its kind is losing its shirt. After a long struggle to keep the manufacturer afloat, Meck has finally run out of time and money, still awaiting the strong economic rebound that never came. Production will shut down in early November, tossing 130 employees out of work and ending a run of nearly 113 years.
Hurricane Sandy has, without a doubt, already caused an enormous toll on human life and businesses alike. As with all major events, it is important to track the road to recovery. This is where, for the time being, IMPO will compile news about Hurricane Sandy, its aftermath, and how that will affect American manufacturing. This will be consistently updated as more news arrives, so check back often.
Bombardier says it is taking steps to avoid delivery delays for a series of railway projects, including Toronto and Montreal's subway cars, after workers at its plant in La Pocatiere, Que., launched a strike Thursday. "We are taking all measures to ensure that we deliver on our commitments to our customers," Bombardier spokesman Marc Laforge said in an interview.
A Syracuse-based dairy company has announced plans to build a yogurt plant in central New York, joining the growing number of yogurt producers in the upstate region. Byrne Dairy announced Wednesday that it will build its plant and a visitor center at the Finger Lakes East Business Park in Cortlandville, 30 miles south of Syracuse.
Gov. Nathan Deal says he expects that several Caterpillar suppliers will relocate to Georgia to be near the one-million-square-foot-facility the company is constructing near Athens. Caterpillar has said the manufacturing facility is expected to directly employ 1,400 workers once it's fully operational.
A Japanese company says it will spend about $38 million to expand an auto parts factory in southeastern Indiana. Hitachi Powdered Metals announced Wednesday it would build a second facility at its site in Greensburg and plans for operations to start there next August.
A plastics company that has plants in four other Kentucky cities plans to reopen a facility in western Kentucky, creating 400 new full-time jobs in Madisonville. Berry Plastics Corp. announced Tuesday it will begin reconfiguring the Madisonville plant, with production expected to begin next year. The company closed the facility, which had about 140 workers, earlier this year after redistributing production to other locations.
Drugmaker Eli Lilly says it is planning a multi-million dollar expansion of its manufacturing operations to make cartridges that deliver insulin to patients.The Indianapolis company says the cartridges will help meet growing demand in the United States for diabetes treatments.
Honeywell will provide technology and equipment for Cessna Aircraft Co.'s new Citation Latitude and Citation Longitude aircraft. Honeywell said the new business from the agreement is expected to be worth as much as $800 million over the life of the program.
Fiat CEO Sergio Marchionne says he will ramp up production of the Maserati, Alfa Romeo and Jeep brands in Europe by 2016 to put idled Italian plants back to work. A new industrial plan for Fiat, which controls Chrysler, announced Tuesday foresees the launch of 17 new car models from Italy from 2013 to 2016.
Boeing is selling 35 of its redesigned 737 aircraft to a Russian state-run leasing company in a deal that would be worth $3 billion, if sold at current list prices. The deal with Aviation Capital Services LLC, a subsidiary of State Corporation Russian Technologies, marks the first commitment for the new 737 from Russia and the Commonwealth of Independent States.
Japan's Hitachi Ltd. has agreed to buy British atomic power company Horizon Nuclear Power Ltd. from its German owners for 696 million British pounds ($1.12 billion). The companies announced the deal Tuesday, ending months of uncertainty after the 50-50 owners of Horizon, RWE AG and E.ON AG, abandoned plans to build nuclear power plants in Britain.
Ro Khanna spent two years as deputy assistant secretary of the U.S. Department of Commerce, where he worked with the country’s most influential labor leaders to rebuild the nation’s manufacturing sector and increase America’s exports. He recently discussed what manufacturers can learn from the aerospace industry, why Solyndra is not a U.S. solar manufacturing failure, and what he sees for the future of American manufacturing.
Japanese brands took seven of the top 10 spots in Consumer Reports' annual reliability rankings, pushing aside their U.S. and European rivals. Toyota Motor Co.'s Scion, Lexus and Toyota brands took the top three spots and the Toyota Prius C, a subcompact hybrid, got the best overall score. Mazda, Subaru and Honda were close behind.
A $2.5 billion chemical plant may be getting closer to reality in Lake Charles. Leucadia National Corp. said Monday that it's signed contracts to sell methanol, hydrogen and carbon dioxide from a plant that would convert an oil refinery byproduct called petroleum coke.