News Archive

Manufacturing news

February 2003

Chicago’s PMI increased in February

Chicago’s Purchasing Managers Index increased to 54.9 in February because of an influx of new orders and increased production, surpassing analysts’ expectations of 52.5.
28 Feb 2003 20:02

IBM paves the way for a new generation

IBM is in the process of establishing several joint research centers at universities across the US to better educate tomorrow’s manufacturing workforce on the importance of supply chains, a move that will eventually improve its own operations.
28 Feb 2003 16:48

US Fuel Cell Council to exhibit at SAE World Congress

The US Fuel Cell Council (USFCC) will be exhibiting at the 2003 World Congress held by the Society of Automotive Engineers (SAE) in early March in Detroit Michigan.
28 Feb 2003 17:10

Agilent pursues more business in Asia

Agilent Technologies, a leading US scientific instruments and analysis equipment manufacturer, announced it was looking for more business in Asia as it boosts its manufacturing production in the region and increases outsourcing.
27 Feb 2003 21:41

January’s durable goods orders rise 3.3%

Orders for durable goods increased by 3.3% to $174.78 billion in January, and it was the largest increase in six months, according to the Commerce Department’s latest report.
27 Feb 2003 16:14

Low union membership means hard times ahead

Union membership was at an almost 20-year low in 2002, with membership dropping to 13.2% from 13.4% in 2001, stated the Labor Department in its latest report.
27 Feb 2003 17:34

2002 US steel imports increase from 2001

The Commerce Department stated that total US steel imports in 2002 increased 8.4% from 2001.
26 Feb 2003 16:20

GM selects Delphi for passenger airbag suppression system

Delphi Delco Electronics was selected by General Motors to supply its Recognition model of passive occupant detection for six of its upcoming GM car platforms.
26 Feb 2003 18:46

Boeing cuts production rate

The Boeing Co. will further trim down its already slim production rate for its 767 jet model to one plane every month and a half.
25 Feb 2003 17:27

Ford restructures NA vehicle development unit

Ford Motor Company will restructure its North American vehicle development system into four new groups to speed up cost savings and improve the quality of future models.
25 Feb 2003 17:42

Permo-Drive’s new hybrid boasts better fuel economy

Permo-Drive has introduced a compact version of its hybrid hydraulic drive system that improves the fuel economy of medium-duty commercial vehicles by 30% or more.
25 Feb 2003 21:36

Devon Energy to buy Ocean for $3.5B

Devon Energy announced plans to buy its competitor, Ocean Energy, in a $3.5 billion, all-paper deal that will form the country’s largest independent oil and gas producer.
24 Feb 2003 16:14

Nationwide hiring prospects in manufacturing

According to Manpower, Inc.’s quarterly hiring survey, the manufacturing sector can expect to see an increase in hiring in certain parts of the US from April to June of this year, namely in the Southern and Western states.
24 Feb 2003 21:56

Toyota invests $180M in Indonesian facility

Toyota will invest $180 million into its manufacturing joint venture company with PT Astra International to ramp up car exports from its Indonesian plant.
24 Feb 2003 21:29

Fed’s Philly index falls sharply

The Federal Reserve Bank of Philadelphia’s business conditions index dropped significantly in February to 2.3 from 11.2 in January, according to its latest release.
21 Feb 2003 16:08

NY manufacturing slows down

The New York Federal Reserve’s Empire Manufacturing Survey, which measures manufacturing activity in New York, New Jersey, Connecticut, Puerto Rico, and the Virgin Islands, fell to 1.1 in February, down from 20.7 in January.
21 Feb 2003 22:06

Trade deficit climbs higher in December

The Commerce Department reported that the monthly trade deficit grew by $4.2 billion in December to $44.2 billion, as countries such as Japan, Europe, and South America pulled the breaks on ordering US goods.
21 Feb 2003 16:50

Delphi receives $160M contract from major US automaker

Delphi was awarded a $160 million contract from a major US automaker to provide safety systems, including driver and passenger airbags, steering wheels, and seat belts.
20 Feb 2003 20:12

General Dynamics wins $16.3M submarine maintenance contract

General Dynamics’ Electric Boat subsidiary has been awarded a $16.3 million contract from the US Navy for planning and material procurement for the USS Springfield depot modernization period (DMP), a period which is comprised of repairs, alterations, maintenance, and routine submarine maintenance.
20 Feb 2003 20:24

Leading indicator index fell 0.2% in January

The Conference Board’s leading indicator index fell 0.1% in January, while the coincident index increased 0.2%.
20 Feb 2003 21:25

Industrial production increased 0.7% in January

Industrial production at US factories made a comeback in January, with an increase of 0.7%, which followed a revised drop of 0.4% in December and was the largest monthly increase since July 2002, according to the Federal Reserve’s latest report.
19 Feb 2003 17:34

Plane manufacturers reduce prices

Leading aerospace manufacturers Boeing and Airbus are reducing their prices to better cope with the economic situation.
19 Feb 2003 23:35

PMI shows increased growth for Midwest manufacturers

Midwest manufacturing activity experienced a healthy increase during January, the largest since May 2002.
19 Feb 2003 23:27

Caterpillar forms $1.5B alliance with BHP Billiton

Caterpillar, Inc. announced a contract with BHP Billiton to supply $1.5 billion in equipment and support over the next five years.
14 Feb 2003 22:40

Union agrees to hold talks with US Steel

US Steel Corporation and the United Steelworkers of America have consented to begin negotiations on a labor deal regarding union workers at National Steel Corp.
14 Feb 2003 22:31

Global Engine Alliance chooses Michigan for new ‘green’ engine plant

Global Engine Alliance, the joint venture between Chrysler Group, Hyundai, and Mitsubishi, has decided that Dundee, Michigan is the favored site in the US for a new emissions-efficient engine plant.
13 Feb 2003 14:13

Hyundai and Kia open $30M CA design center

Hyundai and Kia have opened a $30 million design and technical center in Irvine, Calif. to employ 100 auto designers, engineers, model makers, and technicians.
13 Feb 2003 22:39

Lockheed opens doors to $7.5M tech center

Systems integration leader Lockheed Martin Management & Data Systems has opened the doors to its $7.5 million, state-of-the-art NetForce Tech Center in Fairfax, Virginia.
13 Feb 2003 21:53

Hyundai breaks ground for first NA proving ground

Hyundai Automotive Group just broke ground for its first North American proving ground in California City, Calif.
12 Feb 2003 21:53

Ford to relocate ’05 Mustang production

Production of the redesigned 2005 Mustang will be moved from Ford’s Dearborn Assembly Plant to Auto Alliance International’s (AAI) plant, a joint venture between Ford and Mazda, in Flat Rock, Michigan.
11 Feb 2003 19:23

LNM chairman expects more steel industry mergers

The trend of mergers in the global steel industry is said to be far from over, with the largest steel business likely to double its market share in the next five years, according to Lakshmi Mittal, chairman of global steelmaker, LNM.
11 Feb 2003 21:57

Nissan to expand US R&D operations

Nissan has announced plans to expand its US R&D, design, and engineering operations.
10 Feb 2003 23:33

Toyota to build Tundra assembly plant

Toyota has announced plans to build an $800 million assembly plant in San Antonia, Texas for the manufacture of its Tundra pickup truck.
10 Feb 2003 23:21

Q4 productivity falls 0.2%

Productivity at US manufacturers fell short of analysts’ expectations in fourth quarter 2002, despite its overall annual productivity increase being ranked as the biggest in 50 years, the Labor Department reported.
07 Feb 2003 21:33

Unemployment drops to 5.7%, job growth rises

The Labor Department reported that the job market has taken a surprising turn for the better with employment growing by 143,000 jobs in January, the largest monthly increase since 2000, and the jobless rate falling from 6% in December to 5.7% in January.
07 Feb 2003 20:58

US economy in hiring slump

The US is in its worst hiring slump in 20 years, analysts say, and executives remain skeptical of a fast recovery.
06 Feb 2003 21:43

Chicago Factory Index up; consumer confidence plummets

According to the National Association of Purchasing Management’s latest report, the Chicago region’s factory index climbed from 51.7 in December to 56 in January, marking the largest increase since May 2002.
05 Feb 2003 21:36

Manufacturers’ new orders rise 0.4% in December ‘02

New orders for manufactured durable goods increased 0.4% in December to $320.6 billion, following November’s 0.8% decrease, according to the Commerce Department’s advanced report on durable goods.
05 Feb 2003 21:55

NAM supports Bush’s budget for growth

President Bush’s budget for the 2004 fiscal year illustrates the government’s solid commitment to speeding the economic recovery, getting Americans back to work, promoting pro-growth economic policies, and limiting government spending.
04 Feb 2003 19:14

WorldCom to cut another 5,000 jobs

WorldCom, ranked the second-largest US long-distance phone company, has announced plans to cut an additional 8% its workforce, or 5,000 employees, and approximately $2.5 billion from annual costs in an effort to exit bankruptcy, according to an Investor’s Business Daily report.
04 Feb 2003 23:05

ISM says US manufacturing is improving

In its latest manufacturing Report on Business, the Institute of Supply Management (ISM) stated that economic activity in the manufacturing sector grew for the third month in January, while its national purchasing manager’s (PM) index decreased 1.3% to 53.9% and its New Orders index dropped 3.2% to 59.7%.
03 Feb 2003 20:50

Raytheon wins $38.9M Air Force missile contract

The Raytheon Company was awarded a $38.9 million Foreign Military Services contract by the US Air Force for the production of Maverick missile, a precise, air-to-ground missile used against small, hard targets.
03 Feb 2003 22:14

Auto manufacturers push for standards

Thirteen of the world’s passenger car and light truck manufacturers from the US, Europe, and Japan will work together this year to encourage governments to adopt a common set of standards for environmental and safety technology, according to Japan Auto Trends newsletter.
01 Feb 2003 9:10

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