Verso President and CEO David Paterson said in a statement on Monday that the buyout will put it in a better position to face increased competition. Paterson will lead the combined company, which will have 11 manufacturing plants in six states and sales of about $4.5 billion.
Gentle Giant, based in Burbank, Calif., has led the development of state-of-the-art content using 3D scanning and modeling to develop and make licensed 3D printed characters, toys and collectibles from a variety of franchise properties.
Gov. Pat McCrory's administration is moving to privatize parts of the public agency that woos companies and jobs to North Carolina, hoping to make business recruitment more agile and effective. The revamp would motivate business recruiters in the same way as other salesmen — by possibly paying them bonuses for success and making it easier to fire them when they fail.
3D Systems today announced that it has completed the acquisition of Xerox's solid ink engineering and development teams, plus the development labs and patent portfolio, for $32.5 million in cash. 3D Systems says it will bring the printer design and material science teams together, along with the associated IP, to further its R&D efforts and manufacturing capabilities.
Fiat already owns 58.5 percent of Chrysler's shares, with the remaining 41.5 percent held by a United Auto Workers union trust fund that pays health care bills for retirees. Under the deal, Fiat will make an initial payment of $1.9 billion to the fund, plus an additional $1.75 billion upon closing the deal.
A company has filed a proposal to buy the assets of Fisker Automotive, days before a hearing planned in the electric vehicle maker's bankruptcy. The proposed agreement between Fisker and Wanxiang America Corp. was filed Monday in bankruptcy court. A hearing on a possible sale of Fisker's assets is scheduled for Friday in Wilmington.
Cooper Tire & Rubber Co. is calling off its proposed $2.2 billion sale to India's Apollo Tyres, a deal that would have created the world's seventh largest tire company. The U.S.-based company said Monday that financing is no longer available, and it continues to claim, as it has for months, that Apollo breached the terms of the agreement.
News that ThyssenKrupp planned to sell the $5 billion mill just five years after it opened sent a ripple through the region, which depended on well-paying jobs related to the mill throughout the economic downturn. ThyssenKrupp has said its plan to import steel slabs from its plant in Brazil fell apart because of the recession and increasing production costs in Brazil.
Cessna Aircraft parent company Textron Inc. said Thursday it will buy Beechcraft Corp. for approximately $1.4 billion, a deal that would combine two mainstays of Wichita's general aviation industry. Textron said it expects to complete the acquisition early next year.
Companies are venturing into smokeless tobacco and other nicotine products to diversify beyond the declining traditional cigarette business as tax increases, health concerns, smoking bans and stigma cut into demand. Electronic cigarettes are battery-powered devices that heat a liquid nicotine solution, creating vapor that is inhaled.
Jazz will make a tender offer of $57 per share for the Italian company, about a 2 percent premium to Gentium's closing stock price in the U.S. on Thursday. Gentium develops drugs to treat a variety of rare diseases and conditions, including orphan vascular diseases related to cancer treatments.
Daimler AG and British sports car maker Aston Martin Lagonda Ltd have signed a deal that will see the two companies develop engines together and the German company get a stake in Aston Martin. The companies said Thursday that Aston Martin and Daimler subsidiary Mercedes-AMG will develop V8 engines for a new generation of Aston Martin cars.
Altra Industrial Motion Corp. (Nasdaq: AIMC) today announced the closure of its acquisition of Svendborg Brakes A/S and S.B. Patent Holding ApS, which manufacturing caliper brakes. Headquartered in Vejstrup, Denmark, Svendborg services a number of industrial markets, including oil and gas, mining, metals, material handling and more.
To gather the expertise and research it needs, Google has purchased eight companies that specialize in robotics this year. The acquisitions are being assembled into a new robotics division headed by Andy Rubin, who oversaw Google's development of Android, now the world's leading mobile operating system.
Valeant Pharmaceuticals International Inc. is buying Solta Medical Inc. for about $250 million. Valeant will pay $2.92 per Solta share, which is a 40 percent premium to its Friday closing price of $2.09. Shares of Solta surged on the news Monday.
Wichita-based Koch Industries Inc. has completed its $7.2 billion purchase of an Illinois company that makes electronic components and cables. Koch says it is paying $38.50 per Molex Inc. share in cash, plus 18 cents per share, representing a pro-rata portion of the regular quarterly cash dividend.
One of the largest food supply companies is buying one of its key rivals, creating an even larger, global distribution company.Sysco is buying privately held US Foods for about $3.5 billion in cash and stock.
One of the biggest stories on Manufacturing.net was one that took quite a while to bake, as it were, completely through: the bankruptcy, and subsequent sale, of Hostess Brands, Inc., maker of the Twinkie and Wonder Bread. The initial news actually came out more than a year ago, when Hostess announced it was going out of business, laying off 18,500 employees and putting its brands up for sale.
Cereal maker Post Holdings is buying Golden Boy Foods Ltd. and Dymatize Enterprises LLC to help expand its store-brand and nutrition businesses.Post said Monday that it is buying privately held Golden Boy from affiliates of Tricor Pacific Capital Inc. and other shareholders for $320 million Canadian ($300.2 million U.S.).
Koch Industries, Inc., has announced the completion of its $7.2 billion acquisition of global electronic components company Molex Incorporated (NASDAQ: MOLX). Molex is now an indirect wholly-owned subsidiary of Koch Industries, and will retain its name, headquarters in Lisle, Ill., and current management team as it moves forward.
The packaging company WhiteWave Foods is buying the organic food maker Earthbound Farm for about $600 million. Earthbound, best known for its organic packaged salads, is expected to have 2013 sales of more than $500 million. It also produces organic fruits and vegetables, frozen fruits and vegetables and dried fruits and snacks.
Germany's Merck KGaA has announced plans to buy AZ Electronic Materials, which supplies high-tech materials for the electronics industry, for about 1.6 billion pounds ($2.6 billion).Pharmaceutical and high-tech materials company Merck said Thursday that it will offer 403.5 pence ($6.61) in cash per AZ share.
NCR makes ATMs and other hardware and software to handle payments. It says the deal will expand its capabilities in banking, allowing it to offer a single platform that retail banks and other financial institutions can use for all kinds of services, and payment and transaction types.
Universal Truckload Services Inc. said Monday that it will pay $123 million in cash for Westport Axle Corp., which provides parts assembly, packaging and distribution services for makers of cars, heavy trucks and recreational vehicles.
The European Commission said in a statement Thursday that the companies — both of which are based in the U.S. — have agreed to dispose parts of their businesses producing and supplying cell cultures, "gene silencing" products and polymer-based magnetic beads.