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Daily news and top headlines for manufacturing professionals

ThyssenKrupp Sells Massive $5 Billion Ala. Mill

December 27, 2013 8:29 am | by Melissa Nelson-Gabriel, Associated Press | News | Comments

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.

Beechcraft To Be Bought By Cessna Parent Company

December 27, 2013 7:46 am | by The Associated Press | News | Comments

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.

Altria, Philip Morris Int'l Partnering On Products

December 20, 2013 12:15 pm | by Michael Felberbaum, AP Tobacco Writer | News | Comments

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.

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Jazz Pharma To Pay $1B For Rare Disease Drug Co.

December 20, 2013 9:43 am | by The Associated Press | News | Comments

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, Aston Martin Ink Engine Development Deal

December 19, 2013 9:23 am | News | Comments

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 Completes Acquisition Of Svendborg Brakes

December 18, 2013 3:14 pm | News | Comments

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.

Google Deal Adds To Company's Robotics Toolbox

December 17, 2013 8:21 am | by Michael Liedtke, AP Technology Writer | News | Comments

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 Buying Solta Medical For About $250M

December 16, 2013 10:54 am | News | Comments

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.   

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Koch Finishes $7.2B Deal For Ill. Company

December 10, 2013 9:42 am | News | Comments

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.

Sysco To Buy US Foods For About $3.5B

December 10, 2013 7:41 am | News | Comments

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.         

Top 13 In 2013, #12: Hostess Goes Under

December 9, 2013 1:00 pm | by Joel Hans, Managing Editor, Manufacturing.net | Articles | Comments

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.

Post Buying Golden Boy, Dymatize In 2 Deals

December 9, 2013 11:35 am | News | Comments

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 Acquires Molex Incorporated

December 9, 2013 11:19 am | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

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.

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WhiteWave Buying Earthbound Farm For $600M

December 9, 2013 8:03 am | News | Comments

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.

Merck To Buy Materials Supplier AZ

December 5, 2013 10:05 am | News | Comments

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 Agrees To Buy Digital Insight For $1.65B

December 3, 2013 8:44 am | News | Comments

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 To Pay $123M For Westport Axle

December 3, 2013 8:27 am | News | Comments

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.     

EU Approves Thermo Fisher Buy Of Life Technologies

November 26, 2013 1:11 pm | News | Comments

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.  

Germany's Bayer Makes Offer For Norway's Algeta

November 26, 2013 1:06 pm | News | Comments

Norway-based cancer drug maker Algeta ASA says it has received a preliminary takeover offer from Germany's Bayer AG that values the company at about $2.4 billion.Algeta said in a statement Tuesday that the offer is for 336 kroner ($55.11) per share; the company has nearly 44 million shares.

Israeli Startup Buys Up Bankrupt Electric Car Firm

November 21, 2013 2:05 pm | News | Comments

An Israeli energy startup has taken over the remains of Israel's trailblazing — and now bankrupt — electric car venture. Ran Eloya, founder and CEO of Gnrgy Ltd., said Thursday his company bought the remaining assets of Better Place for less than $450,000, a fraction of its $2 billion valuation less than two years ago.

Corporations Still Deal-Shy Even As Stocks Surge

November 20, 2013 9:04 am | by Steve Rothwell, AP Markets Writer | News | Comments

A surging stock market usually comes with a boom in corporate deal-making. But deals are lagging this year, even as the market notches a series of record highs and is headed for its best year in a decade.         

Nokia Shareholders Approve Microsoft Deal

November 19, 2013 8:02 am | by Matti Huuhtanen, Associated Press | News | Comments

Nokia shareholders have overwhelmingly approved the sale of the ailing cellphone division and a portfolio of patents and services to Microsoft Corp. for 5.4 billion euros ($7.2 billion). The vote came at an extraordinary meeting of shareholders on Tuesday called by the Finnish phone maker that has seen its global market share shrink as it battles stiff competition from Apple and Google Inc. in the lucrative smartphone trade.

CareFusion To Pay $500M For GE Vital Signs Unit

November 18, 2013 10:15 am | News | Comments

Medical products maker CareFusion said Monday it will buy GE Healthcare's Vital Signs unit for $500 million in a deal that expands its manufacturing capacity and nearly doubles the revenue of its specialty disposable products business.     

Elan Shareholders Approve Sale To Perrigo

November 18, 2013 9:55 am | News | Comments

Irish drugmaker Elan says its shareholders have approved the sale of the company to Perrigo Co. for $8.6 billion. The company said 99.5 percent of the shares voted at a special meeting were voted in favor of the sale. That made up 66 percent of its total shares.

Under Armour Buying MapMyFitness For $150M

November 15, 2013 8:43 am | News | Comments

Athletic clothing and gear maker Under Armour Inc. said Thursday that it is acquiring fitness-tracking technology company MapMyFitness for $150 million as it seeks to expand into the digital arena.Wearable fitness gadgets like FitBit and Nike fuelband, as well as online programs such as Nike's Training Club, are a fast-growing area of the athletic industry.

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