Midwest manufacturing output increased in July, according to the Federal Reserve Bank of Chicago, after revised data showed slight slippage in June. Get the full story »
Filed under: Manufacturing
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Ford resumes Fiesta shipments after parts glitch
Ford Motor Co. has resumed shipments of the Fiesta after temporarily halting them over a faulty part.
Aug. 25, 2010 at 1:56 p.m.
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Filed under: Agriculture/Farming, Environment, Government, Green, Manufacturing Deere leaves CO2 cap-and-trade group
Deere & Co. has quietly dropped out of a coalition of large companies that has supported a cap-and-trade program for reducing carbon dioxide emissions.
Deere, the world’s largest manufacturer of farm machinery, opted to leave the U.S. Climate Action Partnership in May because the group’s legislative strategy “no longer served as a foundation for moving forward” with climate change regulation, Ken Golden, a spokesman for the company said Tuesday. Get the full story »
Weak demand haunts Medtronic in fiscal 1Q
Medtronic Inc. posted a surprising decline in quarterly sales and cut its forecast due to weak demand for its medical devices and pressure on prices, sending its shares down nearly 12 percent to a 15-month low.
The world’s No. 1 stand-alone medical device maker, a bellwether, reported quarterly profit in line with expectations, but weak sales and outlook weighed on the shares of rivals such as cardiovascular device companies Boston Scientific Corp. and St. Jude Medical and orthopedic device makers Stryker Corp. and Zimmer Holdings. Get the full story »
Aug. 20, 2010 at 10:57 a.m.
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Filed under: Economy, Jobs/employment, Manufacturing, Updated Caterpillar’s CEO predicts future economic growth
Caterpillar Inc. officials said Thursday they don’t expect a double-dip recession because the world’s central banks haven’t made major errors and the economy has been improving throughout 2010, especially in the developing world.
New CEO Doug Oberhelman and other executives met with analysts in New York and discussed the opportunities ahead for the world’s largest maker of construction and mining equipment. The Peoria, Ill.-based company also affirmed its long-term profit goals.
“We don’t think the world has ended,” said Oberhelman, who has been with Caterpillar since 1975. “We think there is going to be fantastic growth in our industry in the future.”
Boeing wins $182 million contract for U.S. satellite
Boeing Co. has won a contract worth $182 million to start construction of a seventh military communications satellite for the U.S. Air Force, the Pentagon said on Thursday in its daily digest of major defense contracts.
Three Boeing-built Wideband Global SATCOM satellites are already in orbit, with three more in production. Get the full story »
Boeing to open first Illinois manufacturing site
Chicago-based Boeing Co. says it plans to open a manufacturing facility at a long-struggling airport in southwestern Illinois.
In a release Thursday, Boeing says that it will lease space at MidAmerica Airport for assembly work and that the facility will initially employ 75. Officials at a ceremony at the airport suggested there would be more. Get the full story »
Aug. 19, 2010 at 12:15 p.m.
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Filed under: China, Government, International, Investing, Manufacturing Chinese steelmaker hailed for dropping U.S. deal
Lawmakers from U.S. steel-producing states on Thursday welcomed a decision by China steel company Anshan Iron and Steel Group to put its investment in a U.S. steel plant on hold.
“Not only would this venture have set a dangerous precedent further undermining our domestic steel market, but it posed serious national security concerns,” Rep. Tim Murphy, a Pennsylvania Republican, said in a statement. Get the full story »
Caterpillar equipment sales soar 32% in July
Caterpillar Inc. says sales of its yellow-and-black equipment improved 32 percent in July when strong sales in Asia and North America drove the firm’s third-straight positive month.
Caterpillar is disclosing its monthly sales figures in a filing with the Securities and Exchange Commission. They are considered an indicator of global economic health because Caterpillar is the largest maker of construction and mining equipment.
Boeing gets order for four 737s, loses a 777 order
Boeing Co said Thursday it took orders for four 737 narrowbody planes and lost one order for a 777 in the week ended Aug. 17.
Boeing, the world’s second largest commercial planemaker after EADS unit Airbus, said its net orders for 2010 so far number 258 compared with 142 commercial plane orders in 2009. Get the full story »
Construction to start on 2 U.S. Steel plants in Gary
U.S. Steel’s Gary Works is set to begin construction on the first two of four plants to produce a coke substitute.
The Indiana Department of Environmental Management issued a source modification permit to the mill on Lake Michigan last week. U.S. Steel spokeswoman Courtney Boone says the $220 million project is moving into the construction phase. Get the full story »
Caterpillar to build excavator plant in Texas
Caterpillar Inc., the world’s largest maker of construction equipment, unveiled plans for its fourth U.S. expansion project in two weeks, providing much-needed jobs in a limp employment market while allowing the company to strategically place plants in lower-cost regions.
The new facility, a $120 million plant to make excavator machines in Victoria, Texas, will take on production of some equipment currently made in Illinois and Japan. Get the full story »
Middleby profit jumps 28% on sales gains
Improving conditions in the foodservice industry enabled The Middleby Corp. to report an approximate 28 percent earnings increase for its second quarter. Get the full story »
Currency, acquisitions boost Grainger sales in July
W.W. Grainger reported a large increase in daily sales for last month, with some of the gain attributed to acquisitions and foreign exchange rates. Get the full story »
