Gov. Robert Bentley is joining Honda officials in Lincoln to celebrate the start of production for the 2014 Acura MDX sports utility vehicle. A spokesman for the governor said the ceremony Thursday morning comes after Honda invested $400 million and hired more than 400 people to support the production of the MDX.
The Michigan-based subsidiary of Yanfeng Visteon of China, a General Motors supplier, plans to build the $45 million manufacturing and sequencing facility and expects to create 263 new jobs.
Hostess Brands LLC says it will reopen its eastern Kansas bakery this summer, with the hiring of an initial 250 people already underway. The announcement was made Thursday by the investment partnership that bought Hostess Brands' snack cake product lines.
Corning Inc. says it plans a $250 million expansion of its diesel plant in an upstate New York town, adding 250 jobs to the 500 already at the facility. The company says the plant in the Steuben County town of Erwin makes emission control products used in heavy-duty diesel engine trucks and agricultural equipment.
A favorite saying of mine is that we hire people not just for their hands, but also for their hearts and minds. When we hire frontline employees, it should not be just for the work they do on the line, but for the creative thoughts in their hearts and minds. What if we paid frontline manufacturing employees just $2 per hour for their labor but $14 per hour to use their minds?
Two-thirds of manufacturers surveyed by SME are optimistic about business growth over the next 12 to 18 months, with most anticipating a moderate to significant rise. At the same time, they are expecting to face some pressing challenges as they move forward, including a shortage of skilled workers and rising production costs.
A $400 million expansion planned for the Monsanto Co.'s research center in suburban St. Louis could bring 675 new jobs to the region during the next three years, the company said Tuesday.The agricultural products company said it will add 36 new greenhouses, offices, laboratory space and "plant growth chambers."
The Monthly Leasing and Finance Index (MLFI-25) showed their overall new business volume for March was $6.8 billion, flat compared to volume in March 2012. Month-over-month, new business volume was up 45 percent from February. Year to date, cumulative new business volume was up three percent compared to 2012.
Only five percent of companies feel the U.S. economy will contract this year and more than half of respondents (56 percent) feel the economy will expand. Nearly all CFOs (96 percent) believe U.S. manufacturing will expand or stay the same in 2013.
Overall, confidence in the equipment finance market is 54.0, an easing from the March index of 58.0, reflecting industry participants’ continuing concerns over the economy and the impact of federal policies on capital expenditures. 6.3 percent of executives responding said they believe business conditions will improve over the next four months, down from 21.9 percent in March.
Legislation giving the Boeing Co. $120 million in incentives for their expansion plans in South Carolina is one vote away from reaching the governor's desk. The House voted 115-2 Wednesday to approve the bill. Another vote would send it to Gov. Nikki Haley, who is sure to sign it. The Senate approved the measure last week.
A number of macroeconomic factors seem to have tipped the balance in favor of domestic manufacturing. The return of a few companies’ manufacturing is encouraging. But the big question is: To what extent is the United States capable of taking back manufacturing on a significant scale? The challenges are great.
According to PwC’s Q1 2013 Manufacturing Barometer, 55 percent of respondents expressed optimism about the 12-month outlook for the U.S. economy during the first quarter of 2013, up seven points from the fourth quarter, and only five percent were pessimistic.
Airbus Americas Engineering says it is planning to expand into a third space in downtown Wichita. The company announced Monday it has already hired more people than had been expected after its last expansion. The firm's vice president of engineering, John O'Leary, says it has hired 150 people, more than the 100 it had planned to hire when it expanded in 2012.
Without a ready inventory of workers to support a competitive manufacturing base, America’s future will always be vulnerable to outside economic threats. History reminds us of our true potential, when in 1945, 50 percent of the products produced in the world were "Made in USA." Today that number has trended down to 22 percent.
The survey’s composite index is a leading indicator for the manufacturing sector. The March 2013 composite index advanced to 56 from 55 in the December 2012 survey. That breaks a string of 10 consecutive quarterly declines. The index remains above the threshold of 50 for the 14th straight quarter, the dividing line that separates contraction and expansion.
Drug maker Bristol-Myers Squibb Co. has announced a $250 million expansion of its central Massachusetts manufacturing complex that will eventually employ an additional 350 workers. The expansion announced Thursday will add space for developing biotechnology drugs, called biologics, and for manufacturing those products for clinical trials.
The following represent some major or interesting mergers and acquisition (M&A) activity during late March and early April, with news from Klein Tools buying its way into Brazil, Elgin Fastener Group purchasing a Las Vegas-based manufacturer of fasteners and more.
The Information Technology and Innovation Foundation (ITIF) praised President Barack Obama for focusing on long term investments in research, development and innovation in his annual budget message to Congress. The budget proposal includes a $1 billion appropriation for the creation of the National Network for Manufacturing Innovation.
The Kansas City Area Development Council announced today that Adrian Steel is expanding into Kansas City to supply parts for Ford automobiles with a new 32,000 square-foot facility. The Adrian, Mich.-based company plants on leasing 11 acres of land within the Hunt Midwest Business Center with an investment of $4.7 million.
Boeing Co. is expanding in South Carolina and will invest another $1 billion, creating 2,000 new jobs during the next eight years, the aerospace giant announced Tuesday. Company spokeswoman Candy Eslinger said the company that operates a 787 assembly plant in North Charleston will expand its operations.
“The drop in the PMI expansion is a normal variation,” says Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Business Survey Committee. “If you look at the first three months of 2013 combined, we’re on a very good track. This is perhaps a little bit of a pause."
The drugmaker also plans to spend about $80 million on some other projects, including a product inspection center. A company spokesman said the city's metropolitan development commission must approve tax abatements before construction can start.
A survey shows U.S. manufacturing activity expanded more slowly in March than February, held back by weaker growth in production and new orders. The one bright sign in the report was that factories hired at a faster pace. The Institute for Supply Management says its index of factory activity slipped to 51.3 percent.
The 129-year-old manufacturer hopes the harder bat, which is less likely to splinter, and more modern logo will help the family-owned company stay relevant in the sporting good supply market and ahead of competitors in luring younger ballplayers to its products.