Malaysian activists lost a court battle Thursday to halt Australian miner Lynas Corp. from firing up a rare earths plant that has sparked health and safety concerns. After months of delay, Lynas in September obtained the Malaysian government's approval to start processing rare earths, which are minerals crucial for manufacturing high-tech products.
Weather experts had good news for beleaguered northeast coastal residents Tuesday: A new storm that threatened to complicate Hurricane Sandy cleanup efforts on Wednesday now looks like it will be weaker than expected. As the storm moves up the Atlantic coast from Florida it now is expected to veer farther offshore than earlier projections had indicated.
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.
Fast-growing Etihad Airways says it has agreed to purchase two more Airbus A330-200 planes in a deal worth $418 million. The Abu Dhabi-based carrier says the planes are scheduled to be delivered in early 2014 as part of aggressive expansion plans to keep pace with rival Gulf airlines Emirates and Qatar Airways. Etihad CEO James Hogan said on Tuesday that he considers the A330-200 to be central to the airline's growth plans.
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.
Airlines have canceled thousands of flights, stranding travelers around the globe. Insurers are bracing for possible damages of $5 billion. Retailers face shrunken sales. The economic impact could be more severe if the storm damages a port or a major manufacturing facility such as an oil refinery, Zandi noted.
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.
Auto parts maker Johnson Controls is stepping away from its position as the debtor-in-possession lender during the bankruptcy process for battery maker A123 Systems in order to prevent delays. The company is avoiding a premature legal tussle with Chinese auto parts maker Wanxiang Group Corp., which is challenging Johnson Controls' role as the primary bidder for A123.
Ford is selling a climate control business to a joint venture owned by a French auto supplier and a former member of the Detroit Pistons. Financial terms were not disclosed. The deal marks the last of the Dearborn, Mich.-based automaker's Automotive Components Holdings LLC businesses to be sold. Ford created ACH in 2005 when it took back 17 facilities from Visteon Corp.
Boeing is encouraging its suppliers to attend a workshop next month to learn how to outsource business to Mexico. The Seattle Times reports that Patrick McKenna, director of Supply Chain Strategy and Supplier Management at Boeing Commercial Airplanes, has urged suppliers to attend a Nov. 15 workshop in Chicago to learn how to do business in Mexico.
Technology and manufacturing company Honeywell International Inc. said Wednesday it agreed to buy Saia Burgess Controls for $130 million. Honeywell said the company makes programmable controllers, touch screen panels, counters and timers used in heating, ventilation, and air conditioning, and energy-management systems.
Japanese transportation equipment company Toyota Industries, a sister company of automaker Toyota Motor Corp., is buying one of its suppliers, U.S. parts maker Cascade, in a deal valued at $759 million. Toyota Industries Corp. will pay $65 per share for Cascade, the companies said Monday.
Talks to sell Hawker Beechcraft's operations to China's Superior Aviation Beijing Co. have collapsed and the Wichita plane maker said Thursday that it now plans to emerge from bankruptcy protection as a slimmed down company in the first quarter of 2013.
Misumi Group Inc. said Wednesday it will buy out Dayton Progress Corp., the largest U.S. mold maker, and the components business of Anchor Danly Co. for a total of $200 million. The Japanese precision parts supplier reached an agreement on the 15.6 billion yen deal with U.S. private equity fund Connell Limited Partnership of Boston, which currently owns Dayton and Danly's components business.
ASML Holding NV, the biggest supplier of equipment to semiconductor manufacturers, has offered to buy Cymer Inc. of the U.S. for around $2.55 billion in cash and shares. Cymer's technology makes focused beams of light. ASML uses such beams in machines to trace out the circuits of computer chips: ASML is a key supplier for the biggest chipmakers, including Intel Corp., Samsung Inc. and Taiwan Semiconductor Manufacturing Co.
With the launch of its tablet, Microsoft is becoming a genuine "frenemy" — part friend, part enemy — to its longtime manufacturing partners. Since its founding 37 years ago, the company has had an understanding with makers of computer hardware: Microsoft creates software.
Hillenbrand Inc. on Tuesday said it will acquire Germany's Coperion Capital GmbH for 232 euros, or about $300 million, expanding Hillenbrand's industrial products operations as the company diversifies beyond its traditional business making burial caskets.
United Technologies Corp. said Tuesday it has agreed to sell the electric power systems business it inherited from Goodrich Corp. for $400 million to Safran SA, a French aerospace manufacturer. The U.S. Justice Department had required the sale of the business as a condition for clearing United Technologies' $18.4 billion purchase of Goodrich.
ITT Corporation announced today it has signed an agreement to acquire Joh. Heinr. Bornemann GmbH (Bornemann Pumps), a leading global provider of highly engineered pumps and systems for the oil and gas industry that is known for its leading edge technologies.
“Disaster can strike at any moment, leaving employees afraid and confused amidst chaos,” said John Amann, Vice President of First Aid & Safety, Cintas. “However, if safety directors prepare workers beforehand, they can ensure they’re ready for a potential emergency. Understanding common mistakes businesses make in preparing for emergencies is an important step in emergency planning and training.”
A deal to create a European defense and aerospace giant to rival Boeing Co. collapsed Wednesday when Britain's BAE Systems and EADS NV called off their merger discussions. The companies said they had "decided to terminate their discussions" over the proposed $45 billion tie-up because of conflicting interests between the British, French and German governments.
Whether its repetitive use injuries or regulatory compliance issues you’re trying to target, packaging equipment vendors have stepped up their game to help address manufacturing, processing, and distribution needs.
Chemical coating maker Cytec Industries Inc. said Tuesday it has agreed to sell its coating resins business to private equity firm Advent International for $1.03 billion. The Woodland Park, N.J.-based company said the sale will allow it to focus on its high-growth areas of advanced materials and separation technologies, boosting returns for its shareholders.
The expansion of the shale gas market could potentially drive significant benefits to the U.S. chemicals industry, including decreased raw material and energy costs, according to a new report by PwC. Another recent PwC report estimated that the potential impact of shale gas on U.S. manufacturing could enable U.S. manufacturers to lower their raw materials and energy costs as much as $11.6B annually by 2025.