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.
Aircraft manufacturer Beechcraft announced Thursday that it has filed a lawsuit to contest the U.S. Air Force's decision to award a contract for a light air support plane to Sierra Nevada Corp. The suit, filed in the U.S. Court of Federal Claims in Washington, D.C., is the latest development in a bitter, high-stakes competition that has taken nearly three years with legal challenges from both sides.
The president of struggling Renesas Electronics Corp. said Thursday that the chipmaker is in talks with overseas companies on selling its loss-making mobile device chip operations as part of efforts to streamline its business. Tetsuya Tsurumaru added, however, that the company has not ruled out the possibility of negotiations with domestic firms over the sale of the operations of wholly owned subsidiary Renesas Mobile Corp.
The developer behind a planned $1.1 billion steel mill in northeast Arkansas says he hopes to break ground on the project this fall if everything goes as planned. The Legislature still needs to approve $125 million in state financing for the proposed Big River Steel mill to be built near Osceola.
Suntech, one of the world's biggest solar panel manufacturers, has been forced into bankruptcy court, becoming the latest casualty of a painful slump in the global solar industry. Wednesday's announcement came after Suntech Power Holdings Ltd. missed a deadline last week to make a $541 million payment to bondholders.
Illinois and Iowa could get into a bidding war over the construction of a $1.2 billion fertilizer production facility. According to Illinois officials, Iowa is offering Cronus Chemical LLC an estimated $35 million in taxpayer subsidies to build a plant in Mitchell County near the Minnesota border, the (Decatur) Herald & Review reported.
One of the world's biggest solar panel manufacturers, Suntech, says it has defaulted on $541 million in payments to bondholders after a downturn battered the global industry. The announcement Monday by Suntech Power Holdings Ltd. was a severe setback for one of the renewable energy industry's most successful companies.
The president of one of the nation's oldest gun manufacturers closed down his Connecticut factory Thursday morning and bused 400 of his workers to the state Capitol so they could personally urge lawmakers not to pass gun control legislation that they say could risk their livelihoods.
Toyota Motor Corp. held a ceremony Friday to mark the opening of its second plant in Karawang, Indonesia, to produce the Etios Valco compact hatchback for sale in the country. Built with an investment of about 33 billion yen, Plant 2 Karawang is creating about 1,100 new jobs and will have an annual production capacity of about 70,000 vehicles initially.
French carmaker Renault SA reached a potentially groundbreaking deal with leading unions Wednesday that allows it to reduce its workforce and cut costs in exchange for keeping jobs and production in France. Renault and other European carmakers have been struggling to stay competitive globally as Europe's car market flails.
Vestas Wind Systems is putting some of its factories up for sale, but officials said Wednesday their converted tower factory in Pueblo is still part of their recovery plan. Vestas spokesman Andrew Longeteig said the Pueblo tower factory is still ramping up to meet market demand and hiring more than 100 people by the end of March.
Nippon Steel & Sumitomo Metal Corp. said Wednesday it will halt operations of blast furnace and production lines at its four iron mills in Japan as part of efforts to streamline its business. Nippon Steel plans to close one of three furnaces at its mainstay iron mill in Chiba Prefecture near Tokyo by March 2016, and halt operations of a total of 14 production lines at iron mills in four prefectures.