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Today in Manufacturing

Daily news and top headlines for manufacturing professionals

Hynix Working To Raise Capital

December 8, 2008 5:20 am | by Kelly Olsen, AP Business Writer | Comments

South Korean chipmaker is looking to raise up to $690.6 million and is in no immediate danger, but its cash position could come under pressure if industry conditions do not improve.

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Ford Idles Russian Plant

December 8, 2008 5:18 am | Comments

Automaker will halt production at its sole Russian assembly plant for one month as the financial crisis dents consumers' demand for cars, a company official said.

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China Mulls Plans To Boost Economic Growth

December 8, 2008 5:10 am | by Joe McDonald, AP Business Writer | Comments

Beijing considers proposals to boost exports, cut income taxes and inject government money into slumping Chinese stock markets amid signs an economic slowdown is worsening.

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Oil Prices Rise As OPEC Hints At Cutback

December 8, 2008 5:08 am | by Pablo Gorondi, Associated Press Writer | Comments

Crude prices bounced off four-year lows to trade above $43 as OPEC's president suggested it could surprise investors with a large production cut later this month.

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SSAB To Cut 1,300 Jobs

December 8, 2008 4:55 am | Comments

Swedish steel maker will cut about 14 percent of its work force because of rapidly falling demand for steel, the company said Monday.

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Ford: GM, Chrysler Can't Go Bankrupt

December 8, 2008 4:42 am | Comments

Chief Executive Alan Mulally says a bankruptcy filing by General Motors or Chrysler would drag Ford and industry suppliers into bankruptcy.

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Indiana Cities: Auto Bailout Needed For Survival

December 8, 2008 4:40 am | Comments

Mayors of two Indiana cities heavily dependent on manufacturing say auto bailout is needed to prevent widespread unemployment and major losses in their communities.

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Daimler May Cut Hours, Slow Production

December 8, 2008 4:37 am | Comments

Automaker is considering cutting working hours at all its plants in Germany, widening plans to slow production as demand drops.

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Sen. Dodd: GM Head Should Step Down

December 8, 2008 4:35 am | by Philip Elliott, Associated Press Writer | Comments

Christopher Dodd, chairman of the Senate Banking, Housing and Urban Affairs Committee, said Sunday that the head of General Motors, Rick Wagoner, 'has to move on.'

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UK Manufacturers See Costs Fall

December 8, 2008 4:26 am | Comments

Office for National Statistics said prices at the factory gate -- also known as output prices -- fell by 0.7 percent in November due to sliding oil prices.

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Chinese Auto Sales Slide In November

December 8, 2008 4:20 am | by Elaine Kurtenbach, AP Business Writer | Comments

China's passenger car sales fell 10.3 percent in November from a year earlier as stalling economic growth sapped consumer confidence, state media reports said.

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Chinese Court RefusesTainted Milk Lawsuit

December 8, 2008 4:12 am | by Henry Sanderson, Associated Press Writer | Comments

Court refused to accept lawsuit filed against a Chinese dairy by families whose children were sickened or killed by tainted milk, lawyers involved in the case said.

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Lawmakers At Odds Over Big Three Bailout

December 5, 2008 12:45 pm | by David Espo, AP Special Correspondent | Comments

An agreement on legislation to save Detroit's automakers is a hefty undertaking when there are several competing options afloat, each with its own set of supporters.

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MetoKote Announces New Director

December 5, 2008 11:25 am | Comments

Provider of protective coating applications to a wide variety of industries announced the recent addition of Michael Cooper as Director, Asia Pacific OE Manufacturers.

Smithfield Foods, Union Near Vote

December 5, 2008 9:25 am | by Emery P. Dalesio, AP Business Writer | Comments

Caustic 16-year effort to unionize world's largest hog slaughterhouse -- a journey that's included disputed elections and immigration raids -- is quietly headed toward an end next week.

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Gentex Cutting 400 Jobs

December 5, 2008 9:20 am | Comments

Auto parts supplier is laying off about 15.4 percent of its work force in response to steep drops in vehicle sales and production.

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Analyst Questions Boeing's Output

December 5, 2008 9:13 am | Comments

Cowen analyst said Boeing's November commercial deliveries were four aircraft, surprisingly low considering that plant workers approved a new contract Nov. 3.

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General Motors Cutting 2,000 More Jobs

December 5, 2008 9:10 am | by Tom Krisher, AP Auto Writer | Comments

GM says it will lay off about 2,000 more factory workers early next year as the U.S. auto sales slump continues to wreak havoc on domestic automakers.

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Mercedes' Sales Drop 25 Percent In November

December 5, 2008 8:00 am | Comments

German automaker Daimler AG said Friday that sales in its Mercedes-Benz Cars group dropped more than 25 percent in November to 84,500 vehicles worldwide.

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Unemployment Rate Surges To 6.7 Percent

December 5, 2008 7:20 am | by Jeannine Aversa, AP Economics Writer | Comments

Employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession.

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