After years of battling each other on trade issues, U.S. and European officials are contemplating a dramatic change in direction: joining together in what could be the world's largest free trade pact in an attempt to boost their struggling economies.
Intermec Inc., which makes barcode printers and radio frequency identification products, said Monday that it reached a deal to sell itself to Honeywell International Inc. for about $603.4 million in cash. Under the terms of the agreement, Morris Township, N.J.-based Honeywell, a technology and manufacturing company, will pay $10 per share for Intermec.
Delta Air Lines is ordering up to 70 regional jets from Bombardier as part of a major shift in the planes it uses for hauling passengers around the U.S. Delta announced a firm order for 40 of the CRJ900 planes on Thursday, and options for 30 more. The deal would be worth $3.29 billion at list prices if Delta exercises the options, although discounts on such a big order are common.
Alabama has landed its first Airbus supplier. A subsidiary of Labinal, Safran Engineering Services, announced Thursday that it will operate an engineering supporting facility in Mobile that will hire 30 to 50 people. Labinal is part of the French aerospace company Safran Group.
China has approved a proposal by auto parts conglomerate Wanxiang Group Corp. to purchase the assets of bankrupt U.S. battery maker A123 Systems. The Chinese Commerce Ministry's approval of the bid was announced by the official Xinhua News Agency on Sunday. Wanxiang, based in Zhejiang province, is interested in buying substantially all of the assets of A123, which is based in Waltham, Massachusetts.
The Drives & Motion Division of Yaskawa America, Inc. is pleased to announce that Yaskawa Electric Corporation has signed an agreement between its European subsidiary, YASKAWA Europe GmbH based in Eschborn, Germany, and VIPA Gesellschaft für Visualisierung und Prozessautomatisierung mbH, based in Herzogenaurach, Germany, whereby YEU will acquire a majority of the shares of VIPA.
Diversified manufacturer Eaton Corp. said Friday that it has completed its acquisition of electrical equipment supplier Cooper Industries PLC. Eaton said in May it was buying the Dublin, Ireland-based electrical components maker in a cash-and-stock deal valued at about $11.46B. With the acquisition, Cleveland-based Eaton is seeking to expand its reach in the global electrical power and distribution business.
Internet networking gear maker Cisco Systems Inc. is buying software maker Cariden Technologies Inc. for $141 million as part of its effort to provide more tools for managing increasing online traffic from mobile devices. The all-cash deal announced Thursday is expected to be completed sometime during Cisco's current fiscal quarter, which ends in late January.
Bombardier Inc., the world's third-largest maker of civilian commercial aircraft, said Monday it has made the biggest sale of business aircraft in its history, potentially worth up to $7.8 billion if all options are exercised. VistaJet, a private European company that provides luxury chartered flights, placed firm orders for 56 Bombardier Global jets valued at $3.1 billion and acquired options for a further 86 Global jets.
Working harder to hold onto already interested students is faster and less expensive than recruiting newcomers when it comes to increasing the number of science, technology, engineering and math degrees, a national education expert told New Hampshire education leaders Tuesday.
GE Lighting is buying LED fixture maker Albeo Technologies Inc. in order to meet the demand for energy-efficient high-bay LED lighting products. Privately held Albeo Technologies's LED systems are used in commercial, warehouse, industrial, cold storage, office, data center, food processing, parking garage, school, sporting and correctional environments.
Despite media reports that tend to focus on job loss, plant closings and other negative events, the truth is that while U.S manufacturing has been weakened in recent years, it is still quite strong. Perhaps no one knows this better than Chelsea C. (Chip) White, the Schneider National Chair of Transportation and Logistics in the School of Industrial & Systems Engineering at the Georgia Institute of Technology.
InfinityQS International, Inc. today announced a strategic partnership with Keops Technologies, Inc. that increase efficiency and improve quality. With offices in Montreal, Madrid and Paris, and recent expansion in Dubai, Keops has formalized its partnership with InfinityQS to complement its existing manufacturing solutions with ProFicient, InfinityQS’ enterprise quality hub powered by statistical process control (SPC).
The Italian heavy-duty vehicles maker Fiat Industrial reached an agreement Monday for a full merger with its U.S. subsidiary, the farm equipment maker CNH Global N.V., creating the world's third-largest capital goods company by sales. Fiat Industrial had aggressively pursued the full merger of the 12 percent of CNH that it didn't already own.
Diversified manufacturer Eaton Corp. said Monday that its pending acquisition of Cooper Industries PLC has received regulatory approvals from Chinese and European officials, putting it a step closer to closing. The deal has now received all of its required regulatory approvals and been approved by the shareholders of both companies. It remains subject to customary closing conditions, Eaton said.
Tucked away just miles from the railroads that for years have transported goods made in Virginia to the rest of the world, a recently opened research facility in Prince George County is bringing together universities and industry in an effort to help the state — and the country — regain its manufacturing roots.
French thinks “there’s going to be a lot of information technology costs associated with this,” in terms of leveraging big data and supply chain software to help better understand the sourcing picture. He also thinks that as more major manufacturers try to move toward conflict-free minerals, prices of those mined ethically could rise, leading to higher inbound costs for all companies.
It’s time to embrace the power of Kickstarter.com and like-minded sites that offer a crowdsourcing funding platform for new products attempting to enter the market. While the site is used to fund everything from films and music to new technology, Kickstarter has become a force to be reckoned with when it comes to the world of engineering start-ups.
Hewlett-Packard Co. said that a British company it bought for $9.7 billion last year lied about its finances, resulting in a massive write-down of the value of the business. CEO Meg Whitman avoided calling it a fraud, but said Tuesday that there were "serious accounting improprieties, disclosure failures and outright misrepresentations at Autonomy Corporation PLC."
Twinkie lovers, relax. The tasty cream-filled golden spongecakes are likely to survive, even though their maker will be sold in bankruptcy court. Hostess Brands Inc., baker of Wonder Bread as well as Twinkies, Ding Dongs and Ho Ho's, will be in a New York bankruptcy courtroom Monday to start the process of selling itself.
A new joint venture will for the first time see Jaguars and Land Rovers built in China. The British luxury car company said Sunday that a deal has been made with the Chery Automobile Company to build the cars at a new factory to be built near Shanghai. The company says it is a 1 billion pound ($1.6 billion) joint venture.
The skills gap in U.S. manufacturing today is more limited than many people believe and is unlikely to prevent a projected resurgence in U.S. manufacturing by the end of this decade. But more severe shortages could develop, threatening to constrain that revival, unless aggressive steps are taken now, according to new research by The Boston Consulting Group (BCG).
Chicago is spending $1.25 million to create new programs to teach advanced manufacturing at a high school in the city. Mayor Rahm Emanuel's office said Tuesday that the money will be used at Austin Polytechnical Academy to train workers in manufacturing skills as well as core subjects such as English and math. Local manufacturers also will be given access to new technologies featured at the campus.
BASF SE has agreed on an asset swap with Russian natural gas heavyweight OAO Gazprom — a deal that the German industrial group hopes will allow it to increase its production of oil and gas while exiting the gas trading and storage business. BASF said the two companies' chief executives on Wednesday signed the agreement to swap assets of equivalent value. It said the transaction should be completed by the end of next year.
In this challenging environment, forward-looking insights combined with disciplined execution can help organizations ensure that their supply chain is healthy and robust, helping to assuage the impact of unexpected chaos, like the recent Hurricane Sandy that hit the east coast.