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Today in Manufacturing

Daily news and top headlines for manufacturing professionals

Dow Chemical Cutting 5,000 Jobs

December 8, 2008 7:11 am | by Deborah Jian Lee, AP Business Writer | Comments

Chemical maker to slash about 11 percent of its total work force, close 20 plants and sell several businesses to reign in costs amid the economic recession.

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AMD Will Own Less Of Factories After Spinoff

December 8, 2008 7:10 am | Comments

Chip maker said Monday it will end up owning less of its factories than previously negotiated after they're spun off into a venture with the Persian Gulf state of Abu Dhabi.

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British Car Parts Maker Files For Bankruptcy

December 8, 2008 7:09 am | by Jane Wardell, AP Business Writer | Comments

Wagon PLC said it planned to file for a form of bankruptcy protection on Monday after a global slump in demand for autos crippled its car parts business.

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Boeing, Continental To Test Flight Powered By Biofuel

December 8, 2008 7:05 am | Comments

Continental Airlines and Boeing will test the use of a special blend of half conventional fuel and half biofuel with ingredients derived from algae and jatropha plants.

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Big 3 Auto Bailout Plan Makes Progress

December 8, 2008 7:03 am | by Julie Hirschfeld Davis, Associated Press Writer | Comments

U.S. auto industry bailout plan could include a Cabinet-level oversight board and a provision to withdraw the loan if overseers decide the companies are failing to overhaul themselves.

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Republic Windows’ Workers Protest Layoffs

December 8, 2008 6:25 am | Comments

Sit-in by laid-off workers at a shuttered window factory in Chicago is becoming a cause for those who want action to avert economic pain.

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U.S. Automakers' Shares Up On Bailout Hopes

December 8, 2008 6:13 am | Comments

Shares of U.S. automakers surged sharply as Congress appears to be leaning closer to throwing the companies a financial lifeline, which could force the CEOs to step down.

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Job Losses Could Surpass 3M By Mid 2009

December 8, 2008 5:55 am | by Edited by Manufacturing.net staff | Comments

Conference Board’s Employment Trends Index indicates the economy has lost 1.9 million jobs and declines suggest job losses could very well surpass 3 million by mid 2009.

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AstraZeneca, Bristol-Myers Expand Drug Partnership

December 8, 2008 5:25 am | Comments

Drug developer Bristol-Myers Squibb Co. said Monday it expanded a diabetes drug partnership with AstraZeneca by adding development and sales in Japan to the deal.

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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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