U.S. manufacturers expanded in February at the fastest pace since June 2011, buoyed by increases in new orders and production. The third straight month of growth suggests factories may help the economy this year after slumping through most of 2012.
An industry group, the China Federation of Logistics and Purchasing, said its purchasing managers index declined to 50.1, down 0.3 points from January, on a 100-point scale on which numbers above 50 show an expansion in activity. A separate index by HSBC Corp. fell to 50.4 from January's 52.3.
“Hypertherm is a great example of the innovation and ingenuity present all around the Granite State,” said Governor Hassan. “We can make great things here and ship them around the world. We can give people the skills they need to secure a stable well-paying job. We can care for the community and environment and still remain competitive and profitable. We can build a stronger, more innovative New Hampshire where businesses can grow.”
Chrysler said Thursday it will invest nearly $400 million and create 1,250 new jobs at transmission and metal casting factories in the Kokomo, Indiana, area. CEO Sergio Marchionne confirmed that Chrysler will spend $162 million and add 850 new jobs at a former Getrag Transmission plant in nearby Tipton.
It says the facility is hampered by Europe's low growth prospects and labor costs that are so high that "it currently costs less to import machines to Europe from some other Caterpillar locations than to produce them in Gosselies." The Belgian plant produces hydraulic excavators, loading vehicles, engine parts and components.
The Commerce Department said Wednesday that orders for so-called core capital goods, which include industrial machinery, construction equipment and computers, rose 6.3 percent in January from December. A sharp fall in demand for commercial aircraft caused overall durable goods orders to drop 5.2 percent.
A federal judge has ordered a poultry processor to pay a $150,000 fine for sending untreated wastewater containing blood and turkey parts directly to a city treatment plant. The judge also sentenced House of Raeford Farms Inc. to two years' probation and ordered the company to pay a special assessment of $4,000 for 10 counts of knowingly violating the Clean Water Act.
U.S. Attorney Edward Tarver issued a two-page statement saying prosecutors determined at best they would be able to bring only misdemeanor charges alleging violations of industrial cleanliness standards of the federal Occupational Health and Safety Administration. There was not enough evidence that the company intentionally disregarded or was indifferent to safety requirements.
The CEO of the O'Gara Group Inc. and BAE Systems PLC said Monday that the O'Gara group completed the purchase of the West Chester-based BAE division. The business in the Cincinnati suburb will be renamed O'Gara-Hess & Eisenhardt Armoring Co. CEO Bill O'Gara says about 83 BAE employees were retained and about 20 will be added.
The Japanese automaker said Friday that about 50 leadership and support jobs will move to Marysville, Ohio, near Columbus. But the company says its American headquarters and about 2,500 workers will remain in Torrance, Calif., near Los Angeles.
Heavy machinery manufacturer Caterpillar Inc. is considering closing its distribution facility in central Pennsylvania. The York Distribution Center in Springettsbury Township employs 250 people. Caterpillar spokesman Jim Dugan says the workers were notified in September about the possibility the facility could move elsewhere in the eastern U.S.
National Instruments Corp. plans to spend $80 million to expand its Texas research and development complex and create about 1,000 technical and engineering jobs. Austin-based National Instruments will received $4.4 million through the Texas Enterprise Fund.
Yamaha Motor Co. will build a motorcycle plant in Pakistan with the aim of starting production in 2015, in an attempt to expand its business in an untapped emerging market, company President Hiroyuki Yanagi said Friday in an interview with Kyodo News.
Demand for the company's 2-Liter turbocharged engine is growing so fast in North America that Ford announced plans Thursday to start building the engine late next year at a factory in Brook Park, Ohio, near Cleveland. Currently it's importing the motors from a factory in Valencia, Spain.
A federal grand jury has indicted four people in a 2009 salmonella outbreak linked to a Georgia peanut processing plant. The indictment unsealed Wednesday in federal court in Georgia charges four employees with Virginia-based Peanut Corp. of America. The charges include conspiracy, wire fraud, obstruction of justice and others related to contaminated or misbranded food.
The Conference Board says its index of leading indicators rose 0.2 percent in January to 94.1, the second straight increase after a gain of 0.5 percent in December. In November, the index was unchanged. The gauge is designed to anticipate economic conditions three to six months out.
Executives of Rich Products Corporation say the expansion will increase the southeast Georgia plant's manufacturing capacity by 30 percent. The company says it also expects to add 55 new jobs — increasing its total employment from 70 positions to 125.
The discovery adds another layer of complexity — and potential controversy — to a project that has been criticized because it's been promised more than $200 million in state and local tax subsidies. A consultant hired by Orascom is conducting additional analysis of the land and will recommend whether any of the areas are eligible for the National Register for Historic Places.
The Arkansas Economic Development Department says it is finishing a package of information on the proposed $1.1 billion Big River Steel LLC mill that legislators will be able to use in deciding whether to help fund the project. AEDC spokesman Joe Holmes said staff members are putting the final touches on the package.
Later this week, Ford will announce a $200 million investment at its factory in Brook Park, Ohio, so it can make the four-cylinder, 2-Liter "EcoBoost" engine, according to a person briefed on the matter. The move will add about 450 jobs at the factory that now employs about 1,300 hourly and salaried workers.
The EU Commission said Wednesday that CEO Lakshmi Mittal agreed after talks with Industrial Commissioner Antonio Tajani late Tuesday to suspend all restructuring programs until the body publishes its plan to help Europe's steel industry this summer.
Technology company Oracle Corp. says it will use $1.4 million in loans from the state of Oregon to expand its Hillsboro facility. An Oracle vice president, Luke Kowalski, says the company will move production of data-center servers and storage systems from Mexico to Hillsboro.
The explosives recycling company blamed for the evacuation of a Louisiana town in December misstated its storage capacity for dangerous materials when it sought a multimillion dollar Army contract in 2010, according to documents reviewed by The Associated Press.
Strong demand for peanut butter and a $6 million tax break persuaded J.M. Smucker to reverse its decision to close its Memphis plant. According to The Commercial Appeal, the Orrville, Ohio-based company announced Monday it will invest $55 million in new equipment at the plant and add 65 jobs.
Industrial equipment maker Illinois Tool Works Inc. said Tuesday that it may sell or spin off its industrial packaging segment. The division, with 2012 revenue of about $2.4 billion, designs and makes steel, plastic, and paper products used for bundling, shipping, and protecting transported goods. Its brands include Signode, Strapex, Angleboard and Mima.