News Archive

Manufacturing news

October 2003

US has second-most competitive economy, says report

The World Economic Forum ranked the United States as having the second-most competitive economy, behind Finland, according to a report released this week.
31 Oct 2003 19:14

GDP rate increases to 7.2 percent

Gross domestic product (GDP) increased sharply in the third quarter to an annual rate of 7.2 percent, the U.S. Department of Commerce reported today, the fastest rate since 1984.
30 Oct 2003 17:01

Unemployment claims drop, fewer manufacturing layoffs cited

The U.S. Department of Labor reported today that overall initial unemployment claims fell last week, and fewer manufacturing layoffs were reported in several states.
30 Oct 2003 18:43

Alliant Techsystems awarded $75 million ammunition contracts

Alliant Techsystems (ATK), the largest U.S. manufacturer of ammunition, has been awarded contract modifications worth $75 million to produce additional small-caliber ammunition to meet Department of Defense requirements.
29 Oct 2003 20:19

New orders, shipments increase

The U.S. Department of Commerce reported a September increase in both new orders and shipments of manufactured durable goods today.
28 Oct 2003 20:29

R.J. Reynolds to merge with Brown & Williamson

The second-largest U.S. tobacco company, R.J. Reynolds, announced an agreement yesterday to merge with British American Tobacco’s U.S. operation Brown & Williamson, the third-largest U.S. tobacco company.
28 Oct 2003 15:45

Sony to cut 20,000 jobs

Japanese manufacturing and entertainment giant Sony announced today that it plans to lay off about 20,000 employees over a three-year period as part of a cost-cutting strategy.
28 Oct 2003 15:20

Quaker Chemical acquires steel business

Conshohocken, PA-based Quaker Chemical Corp. today announced it has acquired the assets of the steel and food-grade lubricants business from the Cincinnati Vulcan Company.
27 Oct 2003 20:44

GE opens $64 million technology center in China

General Electric officially opened today its new $64 million China Technology Center in Shanghai, China.
24 Oct 2003 17:58

General Dynamics receives $49 million contract

Falls Church, VA-based military contractor General Dynamics, has received a $49 million contract from the Chicago-based Boeing Company to produce aircraft gun mount systems.
24 Oct 2003 20:26

Unemployment claims drop, manufacturing layoffs continue

The U.S. Department of Labor reported today that overall initial unemployment claims dropped last week to their lowest level in a month, despite continuing manufacturing layoffs.
23 Oct 2003 18:14

Deficit increases to $374.2 billion

The Office of Management and Budget reported this week that the U.S. budget deficit reached a record $374.2 billion in fiscal year 2003.
22 Oct 2003 15:25

U.S. Senate Democrats block legislation on class-action lawsuits

Democratic U.S. senators today blocked a vote on Republican-backed legislation, known as the Class Action Fairness Act (S. 1571), aimed at limiting awards in class action lawsuits.
22 Oct 2003 20:56

Caterpillar announces large sale of low-emission bus engines

Peoria, IL-based manufacturer Caterpillar Inc. today announced the sale of more than 260 engines powered with its low-emission ACERT technology that will be used in the Seattle, WA, metropolitan area.
21 Oct 2003 20:09

Aerojet makes $133 million acquisition

Sacramento, CA-based aerospace and defense company Aerojet, has completed the acquisition of the Gainesville, VA-based propulsion business of Atlantic Research Corp. (ARC) for $133 million.
20 Oct 2003 17:08

Boeing axes 757

Boeing has announced that it has decided to end production of its 757 jetliner next year.
17 Oct 2003 10:05

Flexsys to cease production at West Virginia plant

Flexsys, a chemical supplier to the rubber processing industry, announced its intention to cease production of rubber chemicals at its Nitro, WV, location.
17 Oct 2003 21:33

IBM to add 10,000 jobs next year

Armonk, NY-based IBM, the world’s largest computer company, will add approximately 10,000 new jobs next year, according to Chairman and CEO Samuel J. Palmisano.
17 Oct 2003 17:10

Lockheed Martin Receives $127 Million U.S. Navy Contract for South Korea

Bethesda, MD-based military contractor Lockheed Martin received a $127 million foreign military sale contract from the U.S. Navy to deliver their MK 41 Vertical Launching System for three Republic of Korea KDX-III destroyers.
16 Oct 2003 14:53

Federal Reserve Bank of New York’s manufacturing survey positive

Business conditions for manufacturers in New York state improved considerably in October, according to a survey by the Federal Reserve Bank of New York released today.
15 Oct 2003 15:03

Federal Reserve Board’s manufacturing report mixed

The Federal Reserve Board released its October Beige Book report today, which noted economic growth across the country, but news on the manufacturing sector was mixed.
15 Oct 2003 20:33

Ford, Mazda announce $500 million investment in AutoAlliance Thailand

Dearborn, MI-based auto manufacturer Ford Motor Company and its affiliate Mazda Motor Corp. announced yesterday that they would invest an additional $500 million in its joint venture AutoAlliance Thailand (AAT).
14 Oct 2003 16:50

Bridgewater Interiors to open Michigan plant

Bridgewater Interiors LLC, the Detroit, MI-based automotive seating and interior systems manufacturer, announced today that the company will open a manufacturing plant in Warren, MI.
10 Oct 2003 16:46

Overall U.S. trade deficit shrinks, U.S.-China gap grows

The U.S. trade deficit shrank in August to $39.2 billion from $40 billion in July, the U.S. Department of Commerce reported today.
10 Oct 2003 15:22

Delphi receives $3 million U.S. Department of Labor grant

Troy, MI-based automotive electronics manufacturer Delphi Corp. has received a $3 million grant from the U.S. Department of Labor to train its employees in high-technology areas.
09 Oct 2003 16:50

U.S. unemployment claims drop

The U.S. Department of Labor reported today that the number of first-time filings for state unemployment declined last week.
09 Oct 2003 15:19

Great Lakes Chemical Corporation announces cost cuts, job cuts

Indianapolis, IN-based chemical manufacturer Great Lakes Chemical Corporation today announced plans for a series of workforce reductions, manufacturing consolidations, and other cost reduction steps.
08 Oct 2003 15:17

Raytheon awarded $36.9 million U.S. Navy contract

Raytheon Company, the Lexington, MA-based defense contractor, has been awarded a $36.9 million contract for production of its ALR-67(V)3 radar warning receiver system for the U.S. Navy.
08 Oct 2003 21:35

Goodyear to close Alabama tire plant

Akron, OH-based tiremaker Goodyear Tire & Rubber Company yesterday announced plans to close their tire manufacturing facility in Huntsville, AL, by December 2003.
07 Oct 2003 18:43

Lockheed Martin signs $59 million-plus antisubmarine weapon contract

Bethesda, MD-based military contractor Lockheed Martin announced today that Japan has purchased a lot of Vertical Launch Antisubmarine (VLA) rockets valued at $59.8 million.
07 Oct 2003 18:41

Bootmaker McRae Industries announces new contract with US government, Israelis exercise contract option

Mt. Gilead, NC-based McRae Industries, Inc. reported it has been awarded a new contract to produce military combat boots for the U.S. government.
06 Oct 2003 18:36

Federal judge upholds $19.1 million jury award against Brown & Williamson

An Arkansas federal judge last week upheld a landmark $19.1 million jury verdict against tobacco company Brown and Williamson.
06 Oct 2003 18:34

Motorola to spin off semiconductor business

Cell phone to auto radio group Motorola announced today today that it intends to hive off its semiconductor operations into a publicly traded company.
06 Oct 2003 17:37

PeopleSoft expectations rise

PeopleSoft said today it expects to exceed third quarter trading expectations.
06 Oct 2003 17:39

General Dynamics awarded $20 million-plus U.S. Army contracts

Three units of Falls Church, VA-based military contractor General Dynamics recently have been awarded contracts by the U.S. Army.
03 Oct 2003 14:36

Rouge Steel resumes furnace operation after two-week outage

Dearborn, MI-based Rouge Industries, Inc. reported yesterday that its primary operating subsidiary, Rouge Steel Co., which produces steel products for the automotive industry, resumed production operations at its "B" blast furnace following a 14-day outage.
03 Oct 2003 14:34

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