Diversified manufacturer Dover Corp. posted a second-quarter profit that handily beat expectations on Friday, raised its forecast, and said order rates are running ahead of shipments. Dover, which is based in Downers Grove, reported net earnings of $169.9 million, or 90 cents per share, up from $97.1 million, or 52 cents a share, a year before.
Filed under: Manufacturing
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Caterpillar raises outlook as 2Q profit beats forecast
Caterpillar Inc. reported a stronger-than-expected quarterly profit Thursday, and raised its full-year outlook, citing continued strong sales growth in emerging markets. The world’s largest maker of construction and mining equipment posted a second-quarter profit of $707 million, or $1.09 a share, up from $371 million, or 60 cents a share, a year earlier. Get the full story »
Hub Group 2Q income up on better freight market
From Forbes | A stronger freight market sent Hub Group Inc.’s profit up 15 percent in the second quarter, the logistics and trucking company said Wednesday.
July 21, 2010 at 5:40 a.m.
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Filed under: Defense, International, Litigation, Manufacturing, Policy EU appeals WTO ruling against Airbus
The European Union plans on Wednesday appealed a World Trade Organization ruling that Airbus SAS received $20 billion in illegal government subsidies that unfairly tilted the global aircraft market — to the detriment of Chicago-based Boeing Co. The appeal had been widely expected, and will likely prolong the already long-running dispute between the E.U. and U.S. over government funding to planemakers Airbus and Boeing. Get the full story »
July 20, 2010 at 10:11 a.m.
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Filed under: Airlines, Defense, Internet, Manufacturing, Technology Boeing, Argon deal wins U.S. antitrust approval
Boeing Co. has won U.S. antitrust approval to buy defense manufacturer Argon ST Inc , the Federal Trade Commission said Tuesday.
Boeing said in early June that it would buy Argon for about $775 million to beef up its capabilities in sensors, communications technologies and information management. Get the full story »
ITW earnings up, but misses target
Illinois Tool Works Inc reported improved quarterly results Tuesday, driven by especially strong demand for automotive, industrial packaging and welding products. But the results came in a penny per share shy of expectations, pulled down by a higher tax rate than the company had forecast. Get the full story »
Pactiv to expand carryout container capactiy
Lake Forest-based Pactiv Corp. said Monday it will spend $14.5 million to expand a plant near Moorehead, Minn. that makes egg cartons and carryout containers for restaurants. Pactiv said it will add three new manufacturing lines, allowing it to make molded-fiber carryout containers.
Supplier glitch could halt U.S. Nissan production
Nissan Motor Co. said Tuesday that a delay in the supply of electronic control units from Hitachi Ltd. that is disrupting production in Japan could also affect its U.S. and Mexico factories.
Japan’s No.3 automaker said Monday it would halt part of its domestic production for three days starting Wednesday after Hitachi said delivery of engine control units was running behind schedule. Production would return to normal next week, it said. Get the full story »
Alcoa opens earnings season with surprise profit
Alcoa Inc., the largest U.S. aluminum producer, posted a second-quarter profit Monday, beating Wall Street estimates as sales soared 22 percent.
The company cited strength in several industrial sectors and raised its estimate for aluminum consumption this year. Get the full story »
3 workers injured at ArcelorMittal Indiana Harbor
From the Times of Northwest Indiana | Rain water dripping on a ladle of molten steel caused a steam explosion that injured three workers at the ArcelorMital Indiana Harbor steel mill Thursday.
July 8, 2010 at 3:20 p.m.
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Filed under: Airlines, Defense, International, Manufacturing, Policy, Politics Boeing a front-runner again for tanker contract
Boeing Co. once again finds itself as the front-runner as Friday’s deadline approaches for submitting proposals for aerial refueling tankers, one of the largest and most controversial contests overseen by the Pentagon.
Although the latest contest hasn’t formally begun, Boeing and its primary competitor, EADS North America Inc., are jockeying for position and exchanging shots over which company’s tanker is the superior entry for the initial $35-billion contract. Their supporters, meanwhile, are wrangling over whether a long-running trade dispute between the U.S. and European Union should also influence the contest’s outcome.
Getting an early jump into the race, EADS submitted its 8,000-page tanker proposal on Thursday. Boeing intends to follow suit early Friday morning, said Boeing spokesman William Barksdale. Get the full story »
Boeing reports drop in 2Q deliveries
Boeing Co. said it delivered 114 commercial aircraft during the second quarter, six more than in the previous quarter but 11 fewer than a year earlier.
The disclosure, coming several weeks before the aerospace giant releases second-quarter results, compares with the 128 delivered by rival Airbus. Boeing’s first-half figure of 222 also trails Airbus’ 250 and was down from 246 last year. Get the full story »
AAR Corp. to provide airlifts to Afghanistan troops
Aerospace supplier AAR Corp. said Thursday it has been selected by the U.S. Transportation Command to provide airlifts for troops and cargo in Afghanistan. The new contract has an initial term of one-year with four one-year renewal options. It’s valued at $24 million per year.
Pentagon pressures Boeing, others to reduce costs
Lockheed Martin Corp. is moving to trim its executive ranks as the Pentagon, its biggest customer, pressures defense contractors to cut overhead costs on huge weapons programs. Lockheed said Tuesday it is offering directors and vice presidents financial incentives to leave voluntarily by Feb. 1.
Defense Secretary Robert Gates said last week that he wants to find savings among the roughly $400 billion the Pentagon will spend this fiscal year on defense contractors. The companies, which also include Northrop Grumman Corp., Raytheon Co. and Boeing Co., among others, provide the military with a wide range of weapons and services.
Revolution Inc. recapitalized
From Pittsburgh Business Times | A unit of PNC Financial Services has provided recapitalization for Revolution Inc., a provider of apparel and costumes to dance schools. Terms were not disclosed.
