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Today in Manufacturing

Daily news and top headlines for manufacturing professionals

Chrysler: Auto Industry Ripe For Mergers

October 17, 2008 5:22 am | by Tom Krisher, AP Auto Writer | Comments

Chief Executive Bob Nardelli said a steep decline in U.S. auto sales has created an environment for industry consolidation.

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Senator May Seek Additional Loans For Automakers

October 17, 2008 5:20 am | by Ken Thomas, Associated Press Writer | Comments

Michigan Sen. Carl Levin said Thursday he may seek an additional $25 billion in loans before the end of the year, citing deteriorating economic conditions for Detroit's car makers.

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Pentagon Cancels Textron Helicopter Deal

October 17, 2008 5:15 am | by Donna Borak, AP Business Writer | Comments

Defense Undersecretary John Young said officials decided to dump the multi-billion dollar reconnaissance helicopter program, which has been over-budget and behind schedule.

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Oil Drops Below $69 A Barrel

October 16, 2008 1:44 pm | by Stevenson Jacobs, AP Business Writer | Comments

Crude oil briefly plunged to less than half its July record high after the government reported massive increases in U.S. crude and gasoline supplies.

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Grupo Modelo Moves To Stop Anheuser Takeover

October 16, 2008 11:46 am | by Emily Fredrix, AP Business Writer | Comments

Mexico's largest brewer filed a notice of arbitration against part owner, Anheuser-Busch, saying the pending sale to InBev violates their investment agreement.

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GM To Lay Off 1,600

October 16, 2008 11:33 am | by Tom Krisher, AP Auto Writer | Comments

Automaker to lay off 1,600 workers at three factories in the coming months as it keeps working to control its inventory amid a growing U.S. sales slump.

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U.S. Economy Worries Spread

October 16, 2008 11:10 am | by Ellen Simon, AP Business Writer | Comments

Stock prices fell globally, credit markets remained tight and oil prices declined to a 14-month low as fears of recession trumped fears of inflation.

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Electro Scientific To Acquire Zygo

October 16, 2008 10:50 am | Comments

Maker of test equipment for semiconductor manufacturers said Thursday it agreed to buy Zygo Corp. in an all-stock deal worth about $173.6 million.

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EPA Tightens Airborne Lead Standard

October 16, 2008 10:38 am | by Dina Cappiello, Associated Press Writer | Comments

Environmental Protection Agency is setting a new health standard for lead to slash the amount of the toxic metal in the nation's air by 90 percent.

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Teledyne Unit Buys UK Marine Sensor

October 16, 2008 9:41 am | Comments

Engineering and electronics products maker said Thursday it bought a marine sensor manufacturer based in the United Kingdom for an undisclosed sum.

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Taiwan Manufacturing Conglomerate Founder Dies

October 16, 2008 9:00 am | Comments

Wang Yung-ching, a businessman who built his Formosa Plastics Group into Taiwan's biggest and most profitable manufacturing conglomerate, has died at 91.

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OPEC Pushes Up Extraordinary Meeting

October 16, 2008 9:00 am | Comments

Organization of the Petroleum Exporting Countries says it is moving up the date for an extraordinary meeting initially scheduled for mid-November to October 24.

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Report: Canadian Manufacturing Sales Weaken

October 16, 2008 8:45 am | Comments

Canadian manufacturing sector is getting weaker and a prolonged slump in the U.S. threatens its industrial economy, says a TD Bank report released Thursday.

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MAPI Survey: U.S. Manufacturing Faces Bumpy Road

October 16, 2008 8:13 am | by Edited by Manufacturing.net Staff | Comments

Manufacturers will face challenges as they try to fend off prolonged damage from the economic crisis, according to the Manufacturers Alliance/MAPI.

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N.Y. Court Upholds Tyco Executives' Convictions

October 16, 2008 7:59 am | Comments

State's top court has upheld convictions of former Tyco International CEO and CFO sentenced to prison for fraud and larceny for taking more than $100 million in bonuses.

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GM Partners With States To Push Flex-Fuel

October 16, 2008 7:58 am | Comments

Automaker is partnering with 10 states to promote 85 percent ethanol fuel and boost the accessibility by ensuring an adequate supply and more E-85 pumps at retailers.

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Boeing Strike Fallout Reaches Spirit

October 16, 2008 7:52 am | Comments

Spirit AeroSystems told its 10,500 employees that the ongoing machinists strike at Boeing Co. may force it to look at a shutdown and temporary layoffs.

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Germany Reduces 2009 GDP Growth Forecast

October 16, 2008 6:40 am | by David Rising, Associated Press Writer | Comments

Citing global financial ‘uncertainty’ which threatens to push Europe's largest economy into a recession, Germany slashed a full percentage point off its economic growth forecast for 2009.

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Social Security Benefits To Rise By 5.8 Percent

October 16, 2008 6:30 am | by Martin Crutsinger, AP Economics Writer | Comments

Increase is the largest since a 7.4 percent jump in 1982 and is more than double the rise that retirees got in their monthly checks starting in January of this year.

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Jobless Claims Fall More Than Expected

October 16, 2008 6:25 am | by Christopher S. Rugaber, AP Business Writer | Comments

New claims for jobless benefits dropped last week as the impact of two hurricanes in September faded, but the tally remains at levels economists associate with a recession.

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