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Daily news and top headlines for manufacturing professionals

U.S. Factories Rebound In March

May 2, 2008 12:15 pm | by Jeannie Aversa, AP Economics Writer | News | Comments

Orders placed with U.S. manufacturers rose 1.4 percent in March -- an improvement from the 0.9 percent dip reported in February and the 2.3 percent drop in January.

ArcelorMittal Sells Part Of Stake In Chinese Steelmaker

May 2, 2008 11:50 am | News | Comments

World’s largest steelmaker sold off part of its stake in steel company China Oriental to two European banks to comply with Hong Kong stock exchange rules.

Bush: Economy Will Get Better

May 2, 2008 11:45 am | by Ben Feller, Associated Press Writer | News | Comments

President Bush said Friday the slow growth of the economy is 'not good enough for America,' but new rebate checks will inject some life soon.

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AK Steel Announces Price Increases

May 2, 2008 11:36 am | News | Comments

Company is raising the spot market prices for carbon steel products by $75 per ton for all new orders, effective immediately.

Modine Sells Thermacore Business Unit

May 2, 2008 7:07 am | by Edited by Manufacturing.net Staff | News | Comments

Wisconsin-based maker of thermal management systems and components has sold a subsidiary for $13.25 million.

Cadbury Now Independent Confectionery Company

May 2, 2008 7:00 am | by Jane Wardell, AP Business Writer | News | Comments

Maker of Dairy Milk chocolate, Trident gum and Halls cough drops made its debut as an independent confectionery company on Friday after spinning off its U.S. drinks arm.

Bridgestone, Trelleborg: Charged With Price-Fixing By EU

May 2, 2008 6:35 am | by Aoife White AP Business Writer | News | Comments

EU regulators have charged Bridgestone and Trelleborg AB with breaking antitrust rules -- a move that can lead to large fines -- the companies said Friday.

Bankruptcy Judge Approves Financing For Plastech

May 2, 2008 6:20 am | News | Comments

Federal bankruptcy judge has approved financing that allows struggling auto parts maker to keep operating through Aug. 31.

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U.S. Jobless Rate Falls In April

May 2, 2008 6:14 am | by Jeannine Aversa, AP Economics Writer | News | Comments

Employers cut fewer jobs in April than in recent months and the unemployment rate dropped to 5 percent, but nonetheless still revealed strains in the nation's crucial labor market.

GM: We Need Affordable Electric Cars

May 2, 2008 6:08 am | News | Comments

Chief Executive Richard Wagoner says global warming is not going to be solved with $100,000 electric cars, and his company is focusing on a vehicle more consumers can afford.

Chinese Food Exports To Japan Plunge

May 2, 2008 5:51 am | News | Comments

Food exports to Japan, a key market, dropped 30 percent in February, hurt by a scare over poisoned Chinese-made dumplings.

American Axle, UAW Close To Contract Deal

May 2, 2008 5:35 am | by Tom Krisher, AP Auto Writer | News | Comments

Striking workers at American Axle said they have been told the union and the auto parts supplier are close to a deal that could end a two-month strike.

Water Safety Company Shedding 166 Jobs

May 2, 2008 5:35 am | News | Comments

Stearns Incorporated says it will close its Grey Eagle manufacturing plant and cut manufacturing jobs in Sauk Rapids, Minnesota.

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Quebecor World Eliminating 670 Jobs

May 2, 2008 5:24 am | by Ross Marowits, CP | News | Comments

Struggling commercial printer announced plans Thursday to shed hundreds of jobs as part of its ongoing three-year restructuring.

Toyota's Sales Edge Up While GM, Ford Drop

May 1, 2008 12:00 pm | by Dee-Ann Durbin, AP Auto Writer | News | Comments

GM and Ford saw double-digit U.S. sales declines but Toyota's sales rose 3 percent in April as high gas prices accelerated consumers' rush away from trucks and sport utility vehicles.

U.S. Manufacturing Limps Along In April

May 1, 2008 7:07 am | by Edited by Manufacturing.net Staff | News | Comments

Sector’s recession continues, with both new orders and production declining, though the weak dollar provides hope in the form of export orders.

Owens Corning Completes Sale Of Two Plants

May 1, 2008 6:25 am | News | Comments

Company completed the sale of two composite manufacturing plants in Battice, Belgium and Birkeland, Norway to Platinum Equity for $242 Million.

Peerless Manufacturing Acquires Nitram Energy

May 1, 2008 6:15 am | by Edited by Manufacturing.net Staff | News | Comments

Maker of air pollution reduction products and filtration equipment announced it has completed its acquisition of privately owned Nitram Energy for $65 million in cash.

March Consumer Spending Up

May 1, 2008 5:38 am | by Martin Crutsinger, AP | News | Comments

Consumer spending rose at a faster pace than expected, although virtually all of the gain occurred because of big increases in the price of energy and other products.

New Wind Facility Coming To North Dakota

May 1, 2008 5:18 am | News | Comments

Division of electric utility and manufacturer Otter Tail Corp. plans to build a $121 million wind energy facility in North Dakota by the end of the year.

GM Loses $3.3 Billion, Cuts U.S. Sales Outlook

April 30, 2008 12:45 pm | by Dee-Ann Durbin, AP Auto Writer | News | Comments

Automaker struggled to a first-quarter loss, due in part to a weak U.S. market, a strike at a major parts supplier and plummeting sales of sport utility vehicles and pickups.

Fed Cuts Key Rate, Says U.S. Economy Still Weak

April 30, 2008 12:20 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

Federal Reserve cut a key interest rate by a quarter-point Wednesday, a smaller move than the aggressive easing it undertook earlier this year.

GlaxoSmithKline Reorganizing, Consolidating

April 30, 2008 12:14 pm | by Damian Troise, AP Business Writer | News | Comments

Company says it is reorganizing, setting up new emerging markets unit to reach growing areas, while consolidating its North American operations.

India’s Essar Buying U.S. Steelmaker Esmark

April 30, 2008 7:40 am | by Vicki Smith, Associated Press Writer | News | Comments

Esmark Inc. says it has accepted a buyout offer valued at about $669 million from India's Essar Steel Holdings.

Economy Grew Only 0.6 Percent In 1Q

April 30, 2008 7:15 am | by Jeannine Aversa, AP Economics Writer | News | Comments

Bruised economy limped through the first quarter, as housing and credit problems forced people and businesses alike to hunker down.

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