Feb. 1 at 10:31 a.m.
Filed under:
Economy,
Manufacturing
By Reuters
The threat that rising input prices pose to corporate profit margins was highlighted again as a number of U.S. manufacturers, including Emerson Electric Co and Paccar Inc, reported quarterly earnings.
Earlier this week, Illinois Tool Works, which makes a variety of products for the automotive, residential construction, and industrial marketplace, warned it might not be able to fully recoup all the raw material price increases it is seeing — even though it expects to raise prices this year. Get the full story »
Jan. 31 at 11:52 a.m.
Filed under:
Labor,
Manufacturing,
Unions,
Updated
By Dow Jones Newswires
Union workers at Caterpillar Inc. voted by a 94 percent majority to stage a strike against the company should a new contract not be drawn up by March 1, when the existing agreement expires, Illinois’s Peoria Journal Star reported on its website Sunday.
The vote involved union members at seven locals in Illinois, Colorado, Tennessee and Pennsylvania, according to the report. Get the full story »
By Reuters
Google’s Android dethroned Nokia’s Symbian as the most popular smartphone platform in the last quarter of 2010, ending a reign that began with the birth of the industry 10 years ago.
Research firm Canalys said on Monday phonemakers sold 32.9 million Android-equipped phones in the last quarter, roughly seven times more than a year ago, compared with Symbian’s sales of 31 million.
The phones are produced by manufacturers that include Libertyville-based Motorola Mobility, Samsung and HTC. Get the full story »
Jan. 31 at 7:35 a.m.
Filed under:
Earnings,
Manufacturing
By Reuters
Diversified U.S. manufacturer Illinois Tool Works Inc. reported quarterly earnings that were a penny shy of expectations even as a host of its business units reported double-digit sales growth.
The company, which makes everything from industrial fasteners and adhesives to professional kitchen equipment and flooring, also issued a profit forecast for the current quarter that was higher than the average Wall Street view. Get the full story »
Jan. 27 at 10:07 a.m.
Filed under:
Earnings,
Manufacturing,
Sports
By Reuters
Brunswick Corp. reported another quarterly loss Thursday as economic uncertainty continued to keep buyers out of marine showrooms.
The world’s largest maker of recreational boats posted a fourth-quarter loss of $104.1 million, or $1.17 a share, compared with a loss of $124 million, or $1.40 a share, a year earlier. Get the full story »
Jan. 27 at 7:52 a.m.
Filed under:
Economy,
Manufacturing
By Alejandra Cancino
The Chicago Fed Midwest Manufacturing Index increased 0.3 percent in December to 81.5, according to data released Thursday by the Federal Reserve Bank of Chicago. Get the full story »
By Mary Ellen Podmolik
Shares of Navistar International Corp. rose in early trading Tuesday, after the truck and bus manufacturer said it sees a stronger economy ahead and raised its fiscal 2011 earnings guidance. Get the full story »
Barron’s | Tellabs’ shares dropped 19 percent Tuesday on fourth quarter earnings that came up short, a forecast for continued weakness in the first quarter and a stock downgrade amid intense competition in the telecommunications sector.
Jan. 25 at 11:33 a.m.
Filed under:
Autos,
Manufacturing
By Reuters
Ford Motor Co. said it has idled for a week the plant where it makes most of its best-selling Ford F-150 pickups.
A shortage of parts for 3.7-liter V-6 engines and the new 3.5-liter EcoBoost V-6 engines caused the shutdown at the Dearborn, Mich., truck plant, said Ford spokesman Todd Nissen. Get the full story »
By Reuters
A top executive with Caterpillar Inc., the world’s largest maker of earth-moving construction and mining equipment, said Friday the company plans to spend more than $1 billion to increase its manufacturing capacity in China.
In an interview at an event tied to the U.S. visit this week of Chinese President Hu Jintao, Rich Lavin, a group president at Caterpillar, said his company’s current network of 11 Chinese plants was not enough to produce the “market-leading volumes” Caterpillar hopes to be producing by 2015. Get the full story »
Jan. 21 at 8:24 a.m.
Filed under:
M&A,
Manufacturing
By Dow Jones Newswires
Bucyrus International said shareholders approved a proposed $7.6 billion takeover offer from Caterpillar Inc., Reuters reported Friday on its Web site.
Almost 74 percent of holders of total outstanding shares of Bucyrus common stock voted Thursday to approve the deal, Bucyrus said.
Bucyrus, a manufacturer of mining equipment, said both companies expect the deal to be completed by mid-year.
Jan. 21 at 6:25 a.m.
Filed under:
Airplanes,
Earnings,
Manufacturing,
Media,
TV
By Reuters
General Electric Co., reported better-than-expected earnings, helped by the recovery of its finance arm and a rise in revenue at its industrial units, including a sharp pickup in sales of locomotives.
The world’s biggest maker of electric turbines and jet engines also reported a 12 percent increase in orders, driving its backlog — a key predictor of future sales — to $175 billion. Get the full story »
Jan. 20 at 2:34 p.m.
Filed under:
Autos,
Manufacturing
By Associated Press
Mitsubishi Motors says its plant in Normal will remain open and begin producing a new model soon.
Dan Irvin, a spokesman for the Japanese auto manufacturer, said Thursday that the company will wait several weeks to release the details about the new model, when it will go into production and what that will mean for staffing at the plant.
The plant employs 1,100 people and is one of the largest employers in the Bloomington-Normal area.
Union workers there earlier this year agreed to wage concessions the company said it needed to keep the plant open.
Irvin said the four models now produced at the plant will be phased out. Those are the Galant, Eclipse and Spyder and the Endeavor sport-utility vehicle.
By Kathy Bergen
A Portland, Ore.-based steelmaker seeking quicker access to its far-flung customers announced this afternoon that it will move its headquarters to the Aon Center in late June.
Evraz Inc. NA, the North American subsidiary of Russian steel behemoth Evraz Group, expects to employ more than 70 workers on the 78th floor, including an as-yet-undetermined number of Portland transplants. Get the full story »
Jan. 19 at 3:36 p.m.
Filed under:
China,
International,
Manufacturing,
Trade
By Reuters
General Electric Co.’s Jeffrey Immelt said Wednesday he wants the United States and China to open their borders for truly free trade between the world’s top two economies, rather than hiding behind protectionist walls.
But the chief executive of the largest U.S. conglomerate acknowledged in an interview with Reuters Insider that he treads carefully in going into business with Chinese companies. Get the full story »
