Hostess Brands Inc. won approval Tuesday to sell off the last of its major cake and bread brands, bringing the total proceeds from its liquidation to about $860 million. A U.S. Bankruptcy Court judge in New York approved the two deals, said Hostess spokeswoman Anita-Marie Laurie.
The Kansas City Area Development Council announced that Adrian Steel, a Michigan-based manufacturer of commercial van and truck equipment, is expanding to Kansas City to supply parts for the Ford Motor Company. Adrian Steel will lease 11 acres for a new 32,000-sq.-ft. facility and eight-acre logistics center at the Hunt Midwest Business Center, creating 39 new jobs.
A Republican state lawmaker is inviting firearms manufacturers to relocate to Rhode Island from other states he says are "hostile" to gun owners' rights. House Minority Leader Brian Newberry of North Smithfield made the invitations Monday to Hartford, Conn.-based Colt's Manufacturing Co. and Beretta USA Corp. in Accokeek, Md.
A few hundred South Korean managers, some wandering among quiet assembly lines, were all that remained Tuesday at the massive industrial park run by the rival Koreas after North Korea pulled its more than 50,000 workers from the complex. Others stuffed their cars full of goods before heading south across the Demilitarized Zone that divides the nations.
Vodka producer Central European Distribution Corp. is seeking Chapter 11 bankruptcy protection to cut more than $665 million of its debt. The company is asking a U.S. Bankruptcy Court in Delaware to approve a reorganization plan, which would give ownership of the company to Roust Trading. Roust is owned by CEDC Chairman Roustam Tariko.
North Korea said Monday it will suspend operations at a factory complex it has jointly run with South Korea, pulling out more than 53,000 North Korean workers and moving closer to severing its last economic link with its rival as tensions escalate.
In 2009, President Obama set a goal of doubling exports in 5 years. The President portrayed his initiative as a boon for small companies, likely because fewer than four percent of all service businesses export, according to the Small Business Administration.
General Motors Co. says it plans to invest nearly $30 million for the production of two new engines and other auto parts at its Bedford Castings plant in southern Indiana. GM said Thursday the Bedford plant will receive $19 million to produce components for a small gas engine and $10.4 million to produce components for a new 8-speed and existing 6-speed transmissions.
General Motors plans to invest $332 million into four factories in three Great Lakes states to build new, more efficient engines and transmissions. The spending at plants in Toledo, Ohio; Bedford, Ind.; and Flint and Bay City, Mich., will allow the company to build a new V-6 engine, a new small motor and new eight-speed automatic transmissions, GM said Thursday.
IRISS, a leader in the industrial infrared (IR) window market for electrical safety, announced today their new global headquarters officially opened. This day coincided with the first annual Global Industry Day publicized in Manatee County.
The Arkansas Senate on Tuesday approved Gov. Mike Beebe's proposal to provide Big River Steel with $125 million in state financing to help build a new steel mill in northeastern Arkansas. Without any discussion on the chamber floor, the Senate approved a bill authorizing the plan, which Beebe has called one of the largest economic projects ventures in Arkansas history.
In the latest sign that North Korea's warlike stance toward South Korea and the United States is moving from words to action, Pyongyang on Wednesday barred South Korean managers and trucks delivering supplies from crossing the border to enter the Kaesong industrial park.
Klein Tools, for professionals since 1857, has acquired Civitella & Cia Ltda, a privately-held tool and equipment manufacturer in Brazil. Civitella’s manufacturing and distribution center is based in São Paulo and serves customers throughout Brazil.
Drugmaker Eli Lilly and Co. is planning to spend about $260 million to expand insulin production and make some other capital improvements to sites in its home city. The Indianapolis company said Tuesday it aims to spend about $180 million on some new construction, the addition of another insulin cartridge-filling line to an expansion it announced last fall and the installation of some new equipment.
Gov. Mike Beebe's plan to provide $125 million in state financing to help a new company build a steel mill in Mississippi County is gaining bipartisan support among legislators — though some conservatives still object to having the government help fund one of Arkansas' largest economic development projects.
Alaska is making its pitch to woo a Colorado company that has threatened to leave that state over new restrictions on firearms. Colorado Gov. John Hickenlooper last week signed bills that require background checks for private and online gun sales and ban ammunition magazines that hold more than 15 rounds.
In this issue, BMW Manufacturing reports record production volume, NEUTEX Advanced Energy Groups positions itself as a leading American manufacturer of LED lighting, industry experts talk the true value of anti-seize, manufacturers and distributors step up to tackle the skill gap in welding, and more.
The Mississippi House on Saturday passed a bill to help finance buildings for suppliers that might locate at Nissan Motor Co.'s plant near Canton. The bill was blocked from going to Gov. Phil Bryant immediately because some House members are seeking a second round of debate.
Former General Motors chairman and CEO, Ed Whitacre, says that he found the company in a "general state of confusion" as it was about to emerge from bankruptcy. Whitacre also says morale was low when he assumed the top job at General Motors and that the government's bailout avoided a catastrophe.
United Technologies Corp. is selling a former Goodrich Corp. electric power systems business for about $400 million to French aerospace manufacturer Safran SA. The U.S.-based aerospace conglomerate announced the sale Tuesday. The sale is the second of two divestitures required by U.S. regulators as a condition of United Technologies' $18.4 billion purchase of Goodrich, a manufacturer of airplane parts.
A pair of outside consultants on Monday offered mixed reviews of Gov. Mike Beebe's proposal to provide a company with $125 million in state financing to build a steel mill in the northeast part of the state. Consultants from IHS Global Insights told a special meeting of lawmakers that it's a "close call" whether the state would see a positive return on the millions of dollars it's proposing to spend to lure the project to Arkansas.
The two new suitors pursuing Dell have a message for Wall Street: Don't allow Michael Dell to hoard potential gains from the PC maker's expansion into more profitable technology products and services. Competing bidders Carl Icahn and the Blackstone Group LP are wooing Dell shareholders with an offer of a little more money today.
San Jose is set to consider finalizing a $7 million incentive package to keep Samsung Semiconductor in Silicon Valley and trump an open invitation from Austin, Texas, to expand its operations there. The City Council is expected to approve the plan at its Tuesday meeting.
German engineering company Bosch said Friday that it is abandoning its solar energy business, because there is no way to make it economically viable amid overcapacity and huge price pressure in the industry. The solar power industry has been hit by falling subsidies, weaker sales and increasingly stiff price competition, especially by Chinese manufacturers.
Mercedes-Benz is planning to build an automotive parts staging facility in Vance that will employ about 500 people. The Tuscaloosa News reports that site preparation for the 900,000-square-foot facility has begun at Mercedes-Benz U.S. International, the German automaker's plant near Tuscaloosa.