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Navistar representatives, along with roughly a dozen Illinois officials, announced plans this morning to move the manufacturing company’s headquarters to Lisle, retaining thousands of jobs in DuPage County.
“I’ve got one thing to say. Illinois is Navistar country,” said Gov Pat Quinn. “We believe in Navistar.”
Navistar President Dan Ustian added that the project would create about 500 engineering jobs right away. Get the full story »
Harley-Davidson Inc. could eliminate hundreds of jobs at its engine factory in Menomonee Falls, Wis., even if union workers ratify a seven-year labor agreement meant to keep the work in the Milwaukee area.
The company anticipates cutting 200 positions by the end of 2012, according to the proposed contract with United Steelworkers of America Local 2-209. That’s in addition to hundreds of jobs the company has eliminated in the Milwaukee area in the last two years. Get the full story »
Two Chicago-based companies – a railroad freightcar maker and an insurance brokerage – announced acquisitions Wednesday morning. Get the full story »
Navistar International Corp. swung to a fiscal third-quarter profit that handily topped analysts’ estimates as sales rebounded and margins widened sharply.
But the revenue growth was less than anticipated and the maker of heavy-duty vehicles lowered its top-line forecast for the year to $12 billion from its upbeat April view of $13.2 billion to $13.7 billion as it said it will defer military revenue to the next fiscal year. But it affirmed its earnings prediction, saying it “has found other measures” to meet the estimate. Get the full story »
Officials from Navistar International Corp. are expected to announce the engine manufacturing company’s plan to move its headquarters to Lisle at a Wednesday morning press conference, DuPage County Board president Bob Schillerstrom said Tuesday.
Get the full story »
Toymaker Mattel Inc. has filed a lawsuit alleging MGA Entertainment fraudulently transferred hundreds of millions of dollars to keep Mattel from collecting on anticipated judgments and to defraud other creditors.
The suit filed Wednesday in Los Angeles County Superior Court alleges MGA transferred $430 million in dividends and other assets to its chief executive Isaac Larian, his family members and various trusts between 2004 and 2008 to make the company appear insolvent and prevent MGA’s creditors, including Mattel, from cashing in. Get the full story »
Harley-Davidson Motor Co. and its union leaders reached a proposed labor agreement Friday that could keep manufacturing operations and hundreds of jobs in Wisconsin.
The proposal still needs to be ratified by union workers and approved by the motorcycle company’s board. Workers are expected to vote on the contract Sept. 13. Get the full story »
Caterpillar Inc. has formally opened a $140 million road grader plant in central Arkansas, a factory that the company built even though the economy went through the floor after it announced its intentions.
Caterpillar laid off 24,000 workers worldwide last year, but the North Little Rock plant stayed on course. Company officials say highway projects funded by stimulus money helped build demand for the new road graders.
Caterpillar Inc. plans to spend about $180 million to expand its manufacturing capacity in Brazil and meet growing demand in Latin America.
The world’s largest maker of construction and mining equipment said Wednesday that it had purchased an existing manufacturing plant in Campo Largo, Brazil, and over the next two years, it plans to expand its existing plant at Piracicaba, Brazil.
Manufacturing companies grew faster in August as the industrial sector continues to lead the recovery, and managers’ desire to hire shot up to the highest level in nearly 30 years.
The Institute for Supply Management said Wednesday its manufacturing index rose to 56.3 in August from 55.5 in July. A reading above 50 indicates growth. The manufacturing sector has expanded for 13 straight months.
Visteon Corp. received court approval Tuesday to exit bankruptcy, ending a 15-month fight among hedge funds, lenders and an industry giant for a piece of the revived auto-parts maker.
Visteon’s reorganization caps a two-year stretch in which dozens of U.S. automotive companies collapsed into bankruptcy. Chrysler, General Motors, Delphi Corp. and Lear Corp. used Chapter 11 to remove crushing debt, shed obligations and close underutilized factories. Get the full story »
The southwestern Illinois county that runs a 12-year-old airport that’s never turned a profit will spend $3.5 million to convert a warehouse into what Boeing Co. plans to make a 75-job manufacturing site. Get the full story »
Fortune Brands Inc., whose products range from tequila to golf clubs and faucets, will add more than 300 jobs in the next three years to build cabinets for The Home Depot Inc.’s new Martha Stewart Living kitchens line.
Fortune said Friday that Home Depot selected its MasterBrand Cabinets unit to supply the line, which launches next month in stores around the U.S.
Fortune Brands Inc., whose products range from tequila to golf clubs and faucets, will add more than 300 jobs in the next three years on new business for its MasterBrand Cabinets unit. Get the full story »
