Fujitsu Ltd. said it will withdraw from semiconductor chip production in Japan amid deterioration of its chip business due to the yen's appreciation and slack demand. The company will close its Kyushu plant in Kagoshima Prefecture, and sell its Miyagi plant in Miyagi Prefecture and the Aizu plant in Fukushima Prefecture to J-Devices Corp. which makes semiconductor chips under contract.
Bankrupt steelmaker RG Steel is working with creditors to resolve issues surrounding the sales of its steel mill facilities. Attorneys for various creditors told a Delaware bankruptcy judge during a telephone hearing Wednesday that substantial progress has been made on resolving the issues.
The rate of change and advancement in the electronics industry can be startling, especially over the past few decades. The names at the top of the industry today were brand new companies just ten years ago. To survive, an electronics company needs to be as flexible as it is quick. And to excel, that company must be able to overcome both existing and emerging challenges in the market.
A long-delayed South Dakota beef-processing plant given new life when Korean investors took over in 2009 is without an opening date more than six years after it was first proposed. Land for the $109M Northern Beef Packers plant in Aberdeen was secured in 2006, but financial issues, lawsuits, delinquent property taxes, flooding, an economic downturn and millions of dollars in liens have repeatedly pushed back the opening date.
Kraft Foods Group officials say the company's manufacturing facility in Bentonville will close next year. Kraft Vice President of Operations Jim Durkin says the company will achieve greater efficiencies of scale by combining the majority of the plant's production with external partners. Durkin says Bentonville is a smaller plant and its size isn't suitable for the scale the company needs going forward.
For businesses that rely on scientific innovation to differentiate themselves, being first to market with a novel, more effective or attractively priced product is the Holy Grail. But as the lifecycle that transforms a good idea into a viable product grows ever more complex, the very factors critical to success are suffering.
Lexmark is cutting 1,700 jobs, or almost 13 percent of its workforce, and says it will stop making inkjet printers as part of a drive to cut costs as it deals with shrinking sales of inkjets. The printer and software company said Tuesday that it will close its inkjet supply plant in the Philippines by the end of 2015. It is also putting its inkjet technology up for sale.
General Motors will temporarily close the Detroit-area plant that makes the Chevrolet Volt next month to control inventory and prepare to make a new model. Spokesman Bill Grotz says the factory will be off-line to match supply with demand and prepare to build the 2014 Chevrolet Impala. He wouldn't say how long. Grotz says GM is happy with its supply of electric Volts.
Ford Motor Co., eager to grab a piece of China's growing luxury market, plans to start selling its Lincoln luxury brand here in 2014. It will be the first time that the nearly 100-year-old brand will be sold in China. At an event at a converted 600-year-old temple in Beijing, CEO Alan Mulally and other Ford executives said they believe Chinese customers will appreciate Lincoln's heritage as well as its new lineup of vehicles.
Suzuki Motor Corp. Chairman Osamu Suzuki met Sunday in New Delhi with the chief minister of India's northern state of Haryana where a Suzuki car plant was wracked by violence last month following a labor dispute. Suzuki and Chief Minister Bhupinder Singh Hooda are believed to have discussed future operations in Haryana by Maruti Suzuki India Ltd.
Ford is building a sixth plant in China as part of an effort to increase its sales in the world's largest auto market. Ford CEO Alan Mulally attended a groundbreaking ceremony Monday for the new $600M assembly plant in the city of Chongqing. It will have the capacity to make 250,000 vehicles per year when it's finished in late 2014.
A bankruptcy judge nixed on Friday a proposal to give eight top Hawker Beechcraft executives up to $5.3 million in bonuses, ruling the plan merely rewarded them for staying at their jobs. U.S. Bankruptcy Judge Stuart Bernstein ruled that the bonus plan sought by the Kansas plane maker set the bar too low to qualify as anything other than a retention program for insiders.
Suzuki Motors Corp. Chairman Osamu Suzuki said Friday the Japanese carmaker plans to set up a skill development institute in western India to help train Indian workers and improve their professional skills. Suzuki unveiled the plan in a meeting in Ahmedabad with Narendra Modi, the chief minister of the western Indian state of Gujarat.
A Syracuse-area manufacturing company that has been in business for nearly 125 years has shut down production. WSYR-TV in Syracuse reports that the last auto parts assembly lines at New Process Gear in suburban DeWitt shut down Thursday. The plant will be completely closed by the end of the year.
Energy and aerospace company Woodward Inc. plans to build a new $200 million northern Illinois manufacturing campus, state and company officials announced Thursday. The Rockford area campus will feature a 300,000-square-foot production plant and office center on 60 acres and is estimated to create some 660 jobs over the next five years.
Chemical maker Rockwood Holdings is buying Talison Lithium for $732 million in order to strengthen its lithium business. "This acquisition will enable us to better serve both our existing global customers as well as Talison's current lithium concentrate customers in China and the rest of the world," Rockwood Chairman and CEO Seifi Ghasemi said in a statement on Thursday.
Seagate Technology has reached a tentative deal to buy the former headquarters of solar company Solyndra. The Oakland Tribune reports the Cupertino-based maker of disc drives has entered into an agreement to purchase the massive building in Fremont, which has been empty since Solyndra filed for bankruptcy protection in September 2011.
It’s no secret that advancements in ERP technology and ever-evolving market trends are leading some manufacturers to review the overall effectiveness of the systems they employ today. The age of the system, flexibility of the technology, and the system’s ability to integrate with other critical business systems are all key considerations.
General Motors Co.'s Opel unit says employees at two of its German plants will work reduced hours over the next few months as the company struggles with a sagging European car market. Opel said Thursday it agreed with its employee council and the IG Metall industrial union that workers at the Ruesselsheim plant and the Kaiserslautern components factory will work reduced hours on 20 days through the end of the year.
General Motors will build its next-generation Chevrolet Cruze compact car at its plant in Lordstown, Ohio, near Youngstown, according to a person briefed on the matter. GM will make the announcement on Thursday, said the person, who did not want to be identified because the formal announcement hasn't been made.
Sen. Mark Udall is renewing his call to extend a wind-energy tax break following news of more layoffs at Vestas. Vestas, the world's biggest maker of wind turbines, said Wednesday that it's cutting 7 percent of its overall workforce in its second round of lay-offs this year.
Sturm, Ruger & Co. Inc. said late Monday that it has made its one millionth gun this month, putting it on track to produce a record number this year. The Southport, Conn.-based company said it reached the milestone on last Wednesday. It expects to beat its own record of 1,114,700 firearms produced in one year, set in 2011.
A factory owned by India's largest carmaker, Maruti Suzuki, reopened Tuesday, more than a month after a riot by workers killed a company manager and injured dozens. Around 500 police and security personnel stood guard as workers lined up to enter Maruti's plant in Manesar, a southwestern suburb of New Delhi.
Samsung Electronics co. will spend $4 billion renovating its plant in the U.S. to increase production of advanced chips used in smartphones and tablet computers. Samsung's Tuesday announcement is its latest push into the lucrative logic chip business.
An aluminum company embroiled in a dispute over its electricity costs said Monday it has given notice to terminate its power contract, a move signaling that the future of its large western Kentucky smelter is in deep jeopardy. Century Aluminum Co. said it gave a 12-month notice to end the contract with Big Rivers Electric Corp. for its Hawesville smelter, which employs about 700 people.