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Daily news and top headlines for manufacturing professionals

GM Closing Canadian Transmission Factory In 2010

May 12, 2008 9:55 am | by Tom Krisher, AP Auto Writer | News | Comments

Spokesman Stew Low said Monday there are no products available for the factory, which employees about 1,400 hourly and salaried employees.

Boeing, Machinists Union Begin Contract Negotiations

May 12, 2008 6:35 am | by Jessica Mintz, AP Business Writer | Boeing | News | Comments

Aerospace company and Machinists union representatives met to open contract talks, exchanging proposals on pay, pensions, health care and other issues.

Chloride Rejects $1.3B Takeover Offer

May 12, 2008 6:20 am | by Jane Wardell, AP Business Writer | News | Comments

Europe’s largest maker of backup power supplies rejected a $1.3 billion takeover bid, saying the all-cash offer ‘materially undervalued the company and its prospects.’


Comtech Telecommunications To Acquire Radyne

May 12, 2008 6:10 am | News | Comments

Communications equipment maker said Monday it will buy Radyne Corp. for about $216.2 million.

Toyota Delaying New U.S. Auto Plant

May 12, 2008 6:01 am | by Yuri Kageyama, AP Business Writer | News | Comments

Senior executive said plans for an auto assembly plant in Mississippi are being delayed by worries about slumping American auto sales and a broader U.S. economic slowdown.

Vehicle Sales In China Rise 14 Percent In April

May 12, 2008 5:45 am | News | Comments

China's sales of autos, trucks and buses are booming at a time of slack growth elsewhere, driven by an economy that expanded 10.6 percent in the first quarter.

Shipbreakers Paying Gov't For Chance At Scrap Metal

May 12, 2008 5:44 am | by Christopher Sherman, Associated Press Writer | News | Comments

Soaring scrap metal prices have led companies that were paid to recycle rusted frigates and tankers to begin paying the federal government to get ahold of all that valuable steel.

El Al Completes $850 Million Order For Boeing 777s

May 12, 2008 5:33 am | Boeing | News | Comments

With the latest deal, Boeing has a backlog of more than 360 777s on order.


EU, U.S. Removing Trans-Atlantic Trade Red Tape

May 12, 2008 5:24 am | by Robert Wielaard, Associated Press Writer | News | Comments

Two-way trade between the U.S. and the EU reached $1.6 billion a day last year, but businesses on both sides complain about red tape holding them back.

JVC, Kenwood Set Up Joint Holding Company

May 12, 2008 5:22 am | News | Comments

Move is the latest stage of a long-running merger plan underscoring pressure for consolidation as competition intensifies among Japan's small to mid-size consumer device makers.

China's April Trade Surplus Falls

May 12, 2008 5:13 am | News | Comments

Beijing's trade surplus fell about 1 percent to a still-robust $16.8 billion amid weaker global demand for Chinese goods.

Oil Surges To $126 A Barrel Over Venezuela Concerns

May 9, 2008 12:40 pm | by John Wilen, AP Business Writer | News | Comments

Light, sweet crude for June delivery vaulted to a new record as oil prices surged amidst concerns of a possible confrontation between the U.S. and Venezuela that could cut exports.

Metaldyne Closes Three U.S. Locations

May 9, 2008 7:30 am | by Edited by Staff | News | Comments

Company completed the closure of two manufacturing plants and a commercial office to adjust for excess capacity due to lower vehicle sales from North American customers.


March Trade Deficit Decline Better Than Expected

May 9, 2008 6:35 am | by Martin Crutsinger, AP Economics Writer | News | Comments

U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending.

Former Siemens CEO Could Face Fines After Scandal

May 9, 2008 6:15 am | by Matt Moore, AP Business Writer | News | Comments

Prosecutors opened administrative proceedings against Heinrich von Pierer, but stopped short of launching a criminal investigation against him, citing lack of evidence over corruption and bribery.

MDA Gets 4-Year Deal For International Space Station

May 9, 2008 6:09 am | News | Comments

After blocking a takeover of part of MacDonald Dettwiler and Associates, federal Industry Minister announced a major contract between the company and the Canadian Space Agency.

Hard-Hit Consumers Buying Salvaged, Expired Goods

May 9, 2008 5:55 am | by Meghan Barr, Associated Press Writer | News | Comments

Amish-run salvage stores selling expired food and medicine dirt-cheap are drawing a steady stream of non-Amish customers seeking relief from the country's financial ills.

Ironworkers' Pension Fund Sues Alcoa Over Bribery

May 9, 2008 5:45 am | by Daniel Lovering, AP Business Writer | News | Comments

Aluminum maker and its board of directors were sued over a purported scheme to bribe officials in the Persian Gulf country of Bahrain.

Canada Confirms Rejection Of Radarsat Takeover Bid

May 9, 2008 5:40 am | by Merita Ilo, CP | News | Comments

Federal government confirmed its decision to block a controversial takeover of part of Canada's premier space technology firm, saying the proposed deal would not benefit the country.

Chrysler Unveils Dodge Challenger In 'Uncertain' Market

May 9, 2008 5:31 am | by Dee-Ann Durbin, AP Auto Writer | News | Comments

2008 Dodge Challenger began rolling off the assembly line into an uncertain market that could embrace the nostalgic muscle car or reject it for its gas-guzzling excess.

Labor Department Wants Financial Info From Unions

May 9, 2008 5:24 am | by Jesse J. Holland, AP Labor Writer | News | Comments

Unions should be required to make public more details of their internal finances, the Labor Department said as it proposed new changes to union disclosure forms.

Treasury's Paulson: Credit Crisis May Be Fading

May 8, 2008 12:46 pm | by Jeannine Aversa and Martin Crutsinger, AP Economics Writers | News | Comments

Worst may have passed, Treasury Secretary Henry Paulson said, though he acknowledged rising gas prices will blunt the effect of 130 million economic stimulus checks.

American Axle Strike Could End With $200M From GM

May 8, 2008 12:20 pm | by Tom Krisher, AP Auto Writer | News | Comments

General Motors says it will pay up to $200 million to help bring an end to a crippling labor dispute at parts supplier American Axle and Manufacturing Holdings.

Survey: Companies May Turn To Mexico, China To Avoid U.S. Recession

May 8, 2008 12:15 pm | by Edited by Staff | News | Comments

According to an ATS survey, sixty-three percent of executives said they would outsource maintenance to bolster plant operations against a recession.

After 2 Months, Idled Workers Returning To GM Plant

May 8, 2008 12:05 pm | News | Comments

General Motors plant in Missouri shut down since March 6 due to a parts shortage caused by a strike at supplier American Axle will restart on Monday.

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