Wednesday Apr 30 | Floor Focus
Dixie Group Making Employee Cuts
“We are trying to address that internally with reductions. Obviously, if things get worse, we will work harder at that and look at additional cuts.”
Dixie Group is cutting up to 8 percent of its employees as the depressed housing market continues to drag down carpet sales. via Floor Focus
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Industrial Machines Forum & PollsWednesday Apr 30 | Newkerala.com
L and T infotech ties up with US based Rockwell Automation
“Having L&T as part of our partner network will help our customers use plant-floor data to improve collaboration and manufacturing performance.”
Mumbai, April 30 : US based Rockwell Automation, global manufacturers of industrial automation solution, said Wednesday it has partnered with L&T Infotech to develop FactoryTalk an Information Solution Provider ... via Newkerala.com
Wednesday Apr 30 | Bizjournals
CommScope completes divestiture of stake in Andes Industries
CommScope Inc. has completed the divestiture of its minority interest in Andes Industries Inc. via Bizjournals
Wednesday Apr 30 | International Business Times
Rofin-Sinar Technologies' 2Q profit declines as costs rise
Industrial laser maker Rofin-Sinar Technologies Inc. said Wednesday that its fiscal second-quarter profit declined as expenses and acquisition-related amortization costs overshadowed sales growth. via International Business Times
Wednesday Apr 30 | Denver Post
Siemens' 2Q profit slides, major business projects slump
“Our order growth in the first half has been excellent on a global basis, and our industry and health care sectors combined strong growth with higher earnings”
German conglomerate Siemens AG said Wednesday that its second-quarter net profit slid 67 percent, weighed down by weaker performance in its major business projects, including a large number of turnkey projects ... via Denver Post
Wednesday Apr 30 | The Canadian Press | Posted by The Canadian Press
Plastech to close plant in Leamington, Ont., on May 16; 150 workers lose jobs
- Auto parts maker Plastech Engineered Products Inc. has announced the closure of its facility in Leamington, Ont.
The scheduled May 16 closure will put 150 people out of work.
The union will begin negotiating a closure agreement Wednesday that will lay out severance packages.
CAW Local 1769 president Jeff Powell says there appear to be no options for employees to relocate to other plants.
Michigan-based Plastech filed for bankruptcy protection Feb. 1.
It stopped shipping parts to Chrysler, causing four plants to close before Chrysler and Plastech reached their first supply agreement on Feb. 5. (CHYR) Read more
Tuesday Apr 29 | The Canadian Press | Posted by The Canadian Press
Gildan lowers Q2 earnings guidance on production shortfall, other factors
“In addition, the company expects to be negatively impacted by higher-than-projected increases in freight and energy costs in the second half of the fiscal year.”
- Clothing maker Gildan Activewear Inc. (TSX:GIL) lowered its guidance for second-quarter earnings Tuesday, blaming a production shortfall at its Dominican Republic textile facility and other factors.
The Montreal-based company said it now expects to see net earnings of 35 cents US per share in the quarter, down from an earlier projection of 42 cents.
The forecast earnings are 13 per cent higher than its earnings in the prior-year period but down from prior guidance due to the production shortfall, an inventory writedown related to discontinued sock lines and increased costs related to the integration of a new retail information system. Read more
Tuesday Apr 29 | Construction Equip. Distribution
JLG Appointments Alton Vice President and General Manager for Caterpillar Alliance Group
“During his tenure with JLG, Rick has consistently demonstrated strong business acumen and strategic thinking”
JLG Industries, Inc., an Oshkosh Corporation company [NYSE: OSK] and a leading manufacturer of aerial work platforms and telescopic material handlers, announced today the promotion of Rick Alton to the position ... via Construction Equip. Distribution
Tuesday Apr 29 | Atlanta Business Chronicle
Rock-Tenn sales up, profit down in Q2
“The increase in Rock-Tenn's sales and adjusted earnings in this challenging domestic economy demonstrates the resiliency of our food and consumer packaging focused businesses and the growth of our merchandising displays business”
Rock-Tenn Co. reported a drop in profit for the second quarter, due to charges from its acquisition of Southern Container. via Atlanta Business Chronicle
Tuesday Apr 29 | Illinois Government News Network
Blagojevich administration joins in dedication of Technical Rescue...
“This critical training prepares these teams for any technical rescue incident, from a natural disaster, such as an earthquake, to a man made event, such as a terrorist attack.”
' The Blagojevich administration today commended a joint local, state and federal effort that resulted in a new vertical and confined space rescue training facility at Scott Air Force Base that will benefit ... via Illinois Government News Network
Tuesday Apr 29 | WisInfo
The Manitowoc Co. reports record sales
“Manitowoc's crane segment is one of the world's leading providers of lift solutions, and that segment is capitalizing on very strong global demand for construction equipment”
MANITOWOC - The Manitowoc Co. on Monday reported that it again had set record net sales and earnings per share as each of the company's three business segments showed solid improvements during the first quarter ... via WisInfo
Monday Apr 28 | InvestmentNews
Merrill names global-sales-and-trading chief
“Tom is one of the most highly skilled and knowledgeable people in the securities industry. With over 20 years' experience in the United States and internationally, Tom will help drive the firm's strategy in key markets around the world”
John Thain's restructuring of Merrill Lynch & Co. Inc.'s leadership continued today as Thomas K. Montag was named to the new position of head of global sales and trading at the New York-based company. via InvestmentNews
Monday Apr 28 | Business Wire
Lincoln Electric Supports American Welding Society Foundation in Campaign to Relieve Welder Shortage
The American Welding Society announced today that The Lincoln Electric Company will donate $300,000 to the AWS Foundation to help relieve a nationwide shortage of welders. via Business Wire
Monday Apr 28 | India eNews
Laird Technologies opens first offshore facility in India
“Availability of a skilled work force, support from the Tamil Nadu government, the presence of good logistics, lower costs and our 'close to the customer”
From correspondents in Tamil Nadu, India, 04:32 PM IST The US headquartered Laird Technologies Monday inaugurated its first offshore manufacturing facility in India. via India eNews
Monday Apr 28 | Kalamazoo Gazette - MLive.com
Airbus executive visits Kalamazoo to congratulate Parker Hannifin on $2 billion contract
“It's said that good things happen to good people. Well, good things happen to good people who make good products.”
A gaggle of appreciative local and state leaders, including Gov. Jennifer Granholm and U.S. Rep. via Kalamazoo Gazette - MLive.com
Monday Apr 28 | Business Wire
CommScope to Close Jaguariuna, Brazil Facility
CommScope, Inc. , a world leader in infrastructure solutions for communication networks, plans to close its Jaguariuna, Brazil broadband facility as part of the company ' s goal to eliminate duplicate ... via Business Wire
Monday Apr 28 | My ESM
Outlines of Siemens scandal become apparent
One and a half year after the police raided the Siemens headquarters and discovered a huge bribery affair, the dimensions of the scandal become visible. via My ESM
Sunday Apr 27 | Oshkosh Northwestern
Former UWO employees appears on federal child porn charges A former University of Wisconsin-Oshkosh employee accused of possessing child pornography was released on a signature bond after making his first ... via Oshkosh Northwestern
Sunday Apr 27 | The Auto Channel
Penske Logistics Recognized by Eaton for Supplier Excellence
“We are pleased to once again be recognized by Eaton”
Diversified industrial manufacturer Eaton Corporation recently honored 42 of its best suppliers at its third annual Supplier Awards Program on April 1 at the downtown Cleveland Marriott. via The Auto Channel
Sunday Apr 27 | Earth Times
Andrew Compatibility Testing for Handset Vendors Supports New Caller Location Applications
As new mobile devices come to market that support location-based services, network operators increasingly favor solutions that are based on Secure User Plane Location protocols. via Earth Times
Sunday Apr 27 | Earth Times
Growth and New Jobs for Bosch Rexroth as Company Announces 2007 Results
“Overall, order volumes appear healthy and we are expanding our capacities. Therefore, we are looking ahead to a double-digit percentage increase in sales for 2008”
Bosch Rexroth AG, parent company of Bosch Rexroth Corporation in North America, announces $7.4 billion in sales for 2007 -- up 8.8 percent from the previous year. via Earth Times
Sunday Apr 27 | Naval Open Source INTelligence
ITT receives $111 million contract to produce electronic...
ITT receives $111 million contract to produce electronic countermeasure system for U.S. Navy's F-18 E/F Super Hornet ITT Corporation today announced it has been awarded a $111 million fixed-price contract and ... via Naval Open Source INTelligence
Saturday Apr 26 | WNED.org
American Express lifts Dow and S Nasdaq dips
“Maybe the economy isn't as bad as people think”
The Dow and S&P rose on Friday, after signs that American Express Co was holding its own amid the economic slowdown, but Microsoft Corp's weak profit forecast pulled down the Nasdaq. via WNED.org
Saturday Apr 26 | Earth Times
Eaton Announces Pricing of Common Share Offering
Diversified industrial manufacturer Eaton Corporation announced today it has set the price for the proposed public offering of 17,500,000 of its common shares at a price to the public of $84 per share. via Earth Times
Saturday Apr 26 | Deutsche Welle
Siemens Corruption Affair Claims Healthcare Chief's Job
“Based on current information, Reinhardt was not personally involved”
Scandal-hit Siemens announced that Erich Reinhardt, the Munich-based concern's head of healthcare, will step down at the end of April. via Deutsche Welle
Saturday Apr 26 | Chicago Tribune | Posted by Chicago Tribune
Packaging Corp. results up, but miss analysts' estimates
Packaging Corp. of America reported first-quarter earnings Monday that were slightly short of Wall Street forecasts, although they represented the Lake Forest company's best-ever first quarter.
Net income for the big packaging concern was $32.1 million, or 31 cents a diluted share, up from the year-ago quarter's new of $31.2 million, or 30 cents a share.
Sales moved up 3.3 percent to $577.5 million from $559.2 million a year ago.
Packaging Corp.'s latest per-share earnings, released after the market's close Monday, landed a few pennies short of the 34 cents that analysts had been anticipating. Read more
Saturday Apr 26 | Automotive
Harbin Electric Experiences Robust Growth for Its Permanent Magnetic Linear Servo..
“It further validates our RD vision, strategy and investments as well as our ability to develop and manufacture world-class products for highly demanding global customers.”
HARBIN, China, April 24 /Xinhua-PRNewswire-FirstCall/ -- Harbin Electric, Inc., , a market leader in customized linear motors, motor/controller automation systems, automobile specialty micro-motors, and other ... via Automotive
Saturday Apr 26 | Seattle Post-Intelligencer
John McConnell, owner of Columbus Blue Jackets, dies
John McConnell, the steel magnate and majority owner of the Columbus Blue Jackets, died Friday. via Seattle Post-Intelligencer
Friday Apr 25 | Seattle Post-Intelligencer
Potlatch approves $2.7 million lawsuit settlement
“Although we vigorously deny any wrongdoing ... we tentatively settled the claims of the direct purchaser class, solely in order to avoid the further expense and burden of the ongoing litigation”
Potlatch Corp. has settled its share of a federal class-action lawsuit for $2.7 million over its role in the alleged price-fixing of oriented strand board, a plywood-type product used as floor and roof decking. via Seattle Post-Intelligencer
Friday Apr 25 | ClipSyndicate
Friday Apr 25 | Manufacturing.net
Kennametal To Cut Work Force, Close Plants
Latrobe-based industrial toolmaker Kennametal Inc. plans to cut its work force by 3 percent within 18 months. via Manufacturing.net
Friday Apr 25 | The Associated Press | Posted by The Associated Press
Goodyear swings to profit in 1Q
Goodyear Tire & Rubber Co. says it swung to a profit on higher revenue in the first quarter, reversing last year's loss by focusing on higher-priced tires and international markets.
The biggest U.S.-based tiremaker said Friday that it earned $147 million, or 60 cents per share, on sales of $4.94 billion in the three months that ended March 31.
A year earlier, Goodyear lost $174 million, or 96 cents per share, in sales of $4.5 billion.
Excluding various one-time items, Goodyear says it earned 67 cents per share from continuing operations. Analysts in a Thomson Financial survey forecast Goodyear would earn 47 cents per share. Such estimates usually exclude special items. Read more
Friday Apr 25 | International Business Times
Valmont Industries senior VP sells company shares
The senior vice president and corporate secretary of diversified manufacturer Valmont Industries Inc. via International Business Times
Friday Apr 25 | Canadian Business Magazine
LSI Industries 3rd-quarter profit falls on sales decline, missing analyst expectations
“Our third quarter is always our weakest due to winter weather conditions and this year sales to our retail accounts were down due to economic conditions”
Lighting company LSI Industries Inc. said Thursday its fiscal third-quarter profit fell 70 percent on a sharp drop in sales and profit margins. via Canadian Business Magazine
Thursday Apr 24 | Canadian Business Magazine
Applied Industrial fiscal 3rd-qtr profit rises, but sales miss estimates; shares dive
Applied Industrial Technologies Inc. on Thursday reported fiscal third-quarter earnings that met analysts' expectations, but sales were below estimates. via Canadian Business Magazine
Thursday Apr 24 | ClipSyndicate
VIDEO: Terex 1Q Profit Rises on International Sales
Interview with Chairman/CEO Ronald DeFeo; Terex Aims to Reach $12 Billion in Revenue Through Acquisitions and International Sales via ClipSyndicate
Thursday Apr 24 | WANE-TV Fort Wayne
Citation Corp to discontinue operations at Butler foundry
“This strategic decision supports capital investments we've made in our ductile iron and die casting businesses and positions Citation to better support our customers served by these core business areas.”
Citation Corp. announced Thursday that it will idle its Butler, Ind., permanent and semi-permanent aluminum molding operations by the end of July 2008, transferring production and equipment to foundries located ... via WANE-TV Fort Wayne
Thursday Apr 24 | Earth Times
Atlas Copco Acquires Manufacturer of Boosters and Compressors for the Oil and Gas Industries
STOCKHOLM, Sweden - Regulatory News: Atlas Copco North America LLC, USA, has signed an agreement with Grimmer Industries Inc., USA, to acquire its Hurricane booster and GrimmerSchmidt portable compressor ... via Earth Times
Thursday Apr 24 | Green Bay Press-Gazette
Fox River cleanup verdict challenged
Insurers may lose up to $75 million By Tony Walter * twalter@greenbaypressgazette.com * April 24, 2008 Several insurance companies that lost a court case last month that could require them to pay Fox River ... via Green Bay Press-Gazette
Wednesday Apr 23 | Bloomberg.com - Asia
Nippon Sheet Rises After Naming Chambers as First Non-Japanese President
Nippon Sheet Glass Co. , the world's biggest supplier of car windows, rose the most in two months in Tokyo trading after it named former Pilkington Plc Chief Executive Officer Stuart Chambers as its first ... via Bloomberg.com - Asia
Wednesday Apr 23 | Feministing
Ask your senator to vote for fair pay
Ask your senator to vote for fair pay On Monday I talked to Lilly Ledbetter , a truly awesome woman who sued her employer, Goodyear Tire, for paying her less than her male coworkers for year after year. via Feministing
Wednesday Apr 23 | The Business Journal of Portland
Precision Castparts makes Fortune 500 list
“We are certainly pleased with the honor of being listed in the Fortune 500 this year”
Precision Castparts for the first time has joined the ranks of the Fortune 500. The Portland-based metals company ranked 444 in Fortune Magazine 's annual ranking of the county's largest publicly traded ... via The Business Journal of Portland
Wednesday Apr 23 | The Business Journal - Milwaukee
Rockwell's 2Q earnings decline
“We continued to benefit from investments in technology leadership, expanded served markets and stronger global presence”
Rockwell Automation Inc. 's fiscal second-quarter earnings fell more than 80 percent due to a large year-earlier gain from discontinued operations. via The Business Journal - Milwaukee
Wednesday Apr 23 | International Business Times
Industrial Distribution receives better buyout offer
Industrial Distribution Group Inc. has received a buyout offer from Luther King Capital Management that it said is superior to an already accepted offer from Platinum Equity. via International Business Times
Wednesday Apr 23 | WisInfo
Recycle new light bulbs at 20 county sites
“But they're considered hazardous waste.”
A teaspoon of mercury could contaminate an average-size lake, Brown County Recycling Manager Wess Damro says. via WisInfo
Tuesday Apr 22 | Boston.com
Manufacturing shares slide on economic worry
“You are going to be probably more cautious than you otherwise would be.”
Executives at several top diversified manufacturers said on Thursday they are starting to see signs of the slowing economy taking a toll on business, tempering their outlook for 2008. via Boston.com
Tuesday Apr 22 | SocalTECH.com
Incuity Acquired By Rockwell Automation
Mission Viejo-based Incuity Software, a provider of enterprise manufacturing software, has been acquired by Rockwell Automation, Inc., Rockwell announced Tuesday. via SocalTECH.com
Tuesday Apr 22 | MarketWatch
Weak dollar, strong sales boost Parker Hannifin
“Many of our key markets, including Aerospace, continue to grow. For other markets, especially those in North America which have been in recession, we are positioned to benefit when they return to more normal growth levels.”
Acquisitions and favorable exchange rates helped Parker Hannifin post record profit and sales in the fiscal third quarter and raise its full year outlook. via MarketWatch
Tuesday Apr 22 | International Business Times
Idex expects 2Q earnings in line with Wall Street estimates
Idex Corp., which makes pumps and engineered equipment, said after the close of trading Monday it expects second-quarter growth in line with Wall Street estimates, led by strong performance in its fluid and ... via International Business Times
Tuesday Apr 22 | KCRG-TV Cedar Rapids
Incentives to Help Maquoketa Land Hydraulic Controls Plant
State economic officials have approved a package of incentives to help Maquoketa land a $15 million hydraulic controls plant that is expected to employ 170. via KCRG-TV Cedar Rapids