News Archive

Manufacturing news

July 2002

CDI to assist in design of Airbus A380

CDI, a leading engineering outsource supplier, has signed a contract with Airbus to design the landing gear bay for the new Airbus A380, marking the first US company to be involved in the design of an Airbus aircraft.
31 Jul 2002 21:39

Nippon Steel deploys webMethods integration platform

Nippon Steel, an international leader in steel manufacture, recently incorporated the webMethods integration platform to further enhance its supply chain management systems, increasing competitiveness in the automotive supply chain and maximizing business efficiency with trading partners such as Toyota.
31 Jul 2002 21:39

Congress to decide on Fast-Track Authority

With the long-awaited vote almost at hand, President Bush appeared before Congress to ask for the Trade Promotion Authority (TPA) to be granted, stating that increased trade will provide more jobs and improve the economy.
30 Jul 2002 21:30

June manufacturer’s new orders

New orders for durable goods manufactured, excluding semiconductors, decreased 3.8% to $166.6 billion in June, according to the Department of Commerce, US Census Bureau’s advance report for manufacturer’s new orders.
29 Jul 2002 20:25

Lockheed Martin opens coating facility

Lockheed Martin Aeronautics Co. has just opened the first phase of its new high-tech $44 million coatings facility.
29 Jul 2002 20:27

Boeing forecasts $4.9 trillion market by 2021

Boeing, the world’s leading manufacturer of passenger and cargo planes, released its 2002 Current Market Outlook (CMO) that projected a $4.9 trillion market for new commercial planes and aviation services over the next 20 years.
26 Jul 2002 21:13

Controversy over appropriations for small manufacturers

The Senate Appropriations Committee has recommended that $106.6 million be included in the DOC’s 2003 budget for the Manufacturing Extension Partnership (MEP) assistance program for small manufacturers.
26 Jul 2002 21:12

Corning loses $370M, closes plants

Corning, the world’s largest optical fiber and cable manufacturer, cut loses at $370 million in earnings for the second quarter.
25 Jul 2002 21:39

Cost-savings pay off for Black & Decker

Black & Decker Corp. surprised industry analysts by reporting higher than expected earnings for the second quarter.
25 Jul 2002 21:40

Mixed Readings on Economic Recovery

Despite June’s stable reading of 112.4 for the index of leading indicators, the most relied upon gauge of economic stability, the nation’s unemployment rating is at its lowest level in 17 months, with the number of first-time filers for unemployment claims in the thousands each week.
24 Jul 2002 16:15

Caterpillar’s stock drops

Caterpillar’s net income declined 26% to $200 million for the second quarter this year, down from $271 million last year.
23 Jul 2002 19:23

Ford builds alliance to prevent defections

The Ford Motor Company has asked 52 of its top corporate officers to sign a pact that prevents them from defecting to another major automaker during the next two years.
23 Jul 2002 19:24

Philadelphia index lowest in 2002

The Philadelphia Federal index, a regional growth gauge for manufacturing conditions, fell to 6.6 in July, down from 22.2 in June.
22 Jul 2002 19:28

TRW earnings up 72%

TRW announced an increase of 72% to $133 million in operating earnings from continuing operations for the second quarter.
22 Jul 2002 19:29

Northrop Grumman reports increased earnings

Northrop Grumman reported a 37% increase to $188 million in economic earnings for the second quarter, up from $137 million from 2001.
19 Jul 2002 17:06

Sony wins best brand in Harris Poll 3rd time running

Sony has been named best brand, for the third consecutive year, by the annual Harris Poll, which studies the relationship between corporate reputation and brand image.
19 Jul 2002 17:07

Manufacturing output makes six-month gain

Surpassing analysts’ expectations, US manufacturing output rose 0.7% in June, continuing its six-month consecutive gain.
18 Jul 2002 21:44

Caterpillar’s full-year outlook falls

Caterpillar’s stock fell nearly 5% this week as the company lowered its full-year outlook.
17 Jul 2002 21:11

FedEx ordered 20 Airbus superjumbo planes

Airbus has just received its first order for 20 freighter versions of the A380 superjumbo aircraft from FedEx, in a deal said to be worth $2.5 billion in list prices.
17 Jul 2002 21:10

The mighty dollar drops

The overachieving US dollar has finally fallen to parity with the Euro, bringing relief for the nation’s manufacturers.
17 Jul 2002 21:12

First manufacturer inventory gain in 16 months

Wall Street economists were surprised when manufacture, retail, and wholesale inventories rose 0.2% in May, signaling the first inventory gain since January 2001.
16 Jul 2002 21:31

Pfizer buys Pharmacia for $60 billion

Pfizer, the world’s largest pharmaceuticals company, has announced plans to buy its competitor, Pharmacia, for $60 billion.
16 Jul 2002 21:34

Boeing creates new defense unit

Boeing, the world’s largest aircraft manufacturer, plans to combine its limping space and communications unit with its boom-bust military plane and missiles unit.
12 Jul 2002 16:32

Business index reaches highest level in two years

The quarterly Manufacturers Alliance/MAPI index has risen to 63%, reaching its highest point since June 2000, when it reached 64%.
12 Jul 2002 18:30

GE reports 14% earnings rise

GE reported a 14% rise in second-quarter earnings and predicted it would meet its yearly targets.
12 Jul 2002 18:32

Kodak expects increased earnings

Despite a decline in expected second quarter sales, Eastman Kodak still expects to gain 97 cents a share, up from 12 cents last quarter.
12 Jul 2002 16:32

Veeco buys FEI

Microelectronic and semiconductor equipment maker Veeco Instruments has agreed to buy Oregon-based FEI in a deal worth about $1 billion.
12 Jul 2002 18:31

Caterpillar embroiled in legal battle over new engines

After a failed attempt to delay upcoming EPA clean-air regulations, Caterpillar, Inc. has asked a federal appellate court to overturn the EPS’s certification of rival Cummins, Inc.’s diesel truck engine.
10 Jul 2002 19:06

Jet sales stabilize for Boeing, Airbus

The world’s largest airplane manufacturers, Boeing and Airbus, are beginning to recover balance after the drop in orders they experienced after 9/11.
10 Jul 2002 20:50

KC index stable, machine tool demand rises

Although the regional manufacturing index for Kansas City fell to 5 in June from 19 in May, it still shows significant improvement since the index remained at -5 for the past two years, according to the Kansas City federal reserve.
10 Jul 2002 20:51

NAM applauds Bush’s corporate initiative

Calling President Bush’s proposals to punish business and accounting wrongdoing more aggressively “tough but sensible,” Jerry Jasinowski, president of the National Association of Manufacturers, said there is no question that the continuing financial and accounting scandals are taking a toll on public confidence and could undermine the economic recovery.
10 Jul 2002 19:07

Auto Sales Depressed

The automotive sector continues to suffer, with domestic automakers reporting mixed results for June; GM was the only one to post gains for the month.
09 Jul 2002 21:45

Midwest NAPM Index Steady Overall

Manufacturing levels in the Midwest fell slightly to 58.2 in June from 60.8 in May, according to the Chicago-based National Association of Purchasing Management (NAPM) regional manufacturing index.
09 Jul 2002 21:47

Northrop Buys TRW for $7.8 billion

After four months of negotiations, Northrop Grumman Corp. will finally purchase US space and defense manufacturer TRW for $7.8 billion, a sum nearly $2 billion higher than original offer.
09 Jul 2002 21:48

ISM manufacturing index at a five-month high

The Institute for Supply Management (ISM)’s latest report stated that its manufacturing index continued the five-month climb in June to 56.2, up from 55.7 in May, its highest level since February 2000. The ISM production index, which measures current output of the nation’s manufacturers, rose to 61.4 in June, its highest level in three years
03 Jul 2002 20:56

Secretary Evans Continues US Grassroots Trade Tour

Secretary Donald Evans visited Tampa, Florida to promote the benefits of expanded trade for the American people. The visit was the second stop on a nationwide grassroots tour to educate businessmen and women, workers, and investors about the positive effects that international trade has on our economy.
02 Jul 2002 21:43

Manufacturers’ new orders increase 0.6% in May

New orders for manufactured durable goods, excluding transportation and semiconductors, increased 0.6% in May to $173.2 billion, according to the Department of Commerce/US Census Bureau’s advance on the manufacturers’ new orders report.
01 Jul 2002 20:56

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