Manufacturing news
January 2004
Fourth-quarter GDP down, full-year GDP up
Real gross domestic product—the output of goods and services produced in the United States—increased at an annual rate of four percent in the fourth quarter of 2003, according to advance estimates released today by the US Bureau of Economic Analysis.
30 Jan 2004 17:22
Boeing posts fourth-quarter and full-year results
Chicago, IL-based aerospace giant Boeing, after a tumultuous year which saw the resignation of its CEO, posted its fourth-quarter and full-year results today.
29 Jan 2004 16:12
First-time unemployment filings drop
There were 342,000 first-time unemployment filings for the week ending January 24, down 1,000 from the previous week's revised figure of 343,000, the US Department of Labor reported today.
29 Jan 2004 21:13
Kraft to cut 6,000 jobs, close 20 plants
Northfield, IL-based Kraft, the number-one food manufacturer in the United States, announced today that it plans to lay off about 6,000 workers and close 20 plants worldwide over the next three years in a bid to cut costs.
28 Jan 2004 18:12
New orders decrease, shipments increase for durable goods
New orders for manufactured durable goods in December 2003 decreased $0.1 billion to $181.4 billion, the US Department of Commerce reported today.
28 Jan 2004 16:48
Six Sigma delivers for Caterpillar
Diggers to dozers group Caterpillar today reported 2003 sales and revenues of $22.76 billion and profit of $1.1 billion.
28 Jan 2004 16:58
R.J. Reynolds posts $3.45 billion net loss
R.J. Reynolds, the number-two tobacco company, today posted a net loss for 2003 of $3.45 billion, primarily due to restructuring costs.
27 Jan 2004 22:01
Regional unemployment stable in December
Regional and state unemployment rates were relatively unchanged from the previous month in December 2003, the Bureau of Labor Statistics of the US Department of Labor reported today.
27 Jan 2004 16:34
Lexmark reports growth in fourth quarter
Lexington, KY-based Lexmark, the number-two computer printer manufacturer in the US after Hewlett-Packard, reported earnings of $138.8 million in the fourth quarter of 2003, compared with $116.3 million one year earlier.
26 Jan 2004 20:49
Visteon posts $863 million fourth-quarter loss
Dearborn, MI-based auto parts manufacturer Visteon posted a large $863 million net loss in the fourth quarter of 2003, including a $756 million charge due to a recent restructuring with Ford.
23 Jan 2004 20:24
Kodak to cut 15,000 jobs
Camera and film manufacturer Eastman Kodak announced plans to cut some 15,000 jobs over the next three years, in a bid to cut costs.
22 Jan 2004 19:27
Viagra still performing for Pfizer
Global pharmaceutical giant Pfizer today announced 2003 income of nearly $4 billion, acknowledging Viagra as being among its big moneymakers.
22 Jan 2004 14:17
Raytheon wins $10.5 million-plus contract to provide Iraq air traffic management systems
Waltham, MA-based Raytheon Company has been awarded a competitive contract to supply air traffic management systems for airports in Iraq.
21 Jan 2004 19:45
General Motors profits slightly down in fourth quarter
General Motors, the world’s largest automaker, reported a fourth-quarter profit of 1.013 billion, down from last year’s 1.02 billion fourth-quarter profit.
20 Jan 2004 17:46
Lockheed Martin and US Postal Service come to $6.2 million manufacturing agreement
The US Postal Service has selected Bethesda, MD-based military contractor Lockheed Martin to build 100 additional systems that automatically place lids on containers used in transporting mail.
19 Jan 2004 17:53
Mine Safety Appliances secures $33.8 million US Army contract
Pittsburgh, PA-based protection-equipment maker Mine Safety Appliances Company announced it has secured a $33.8 million contract from the US Army to produce 100,000 protective helmets.
16 Jan 2004 14:16
Delphi receives $750 million Mercedes contract
Troy, MI-based automobile electronics maker Delphi Corp. has received a contract to design electrical systems for the Mercedes C-Class model, scheduled for introduction in 2007.
15 Jan 2004 19:55
First-time unemployment filings decrease slightly
There were 343,000 first-time unemployment filings for the week ending January 10, a decrease of 11,000 from the previous week's revised figure of 354,000.
15 Jan 2004 19:57
Xenonics Holdings receives $1.9 million order from US Army
Carlsbad, CA-based lighting products manufacturer Xenonics Holdings received a $1.9 million purchase order from the US Army to provide searchlights to the 1st Infantry Division in Europe.
13 Jan 2004 19:58
Exide Technologies secures order from Scandinavian Airlines Systems
Alpharetta, GA-based Exide Technologies, one of the world’s largest lead-acid battery manufacturers, has secured a large order for motive power batteries and a complete battery maintenance system from Scandinavian Airlines Systems (SAS), the consortium of three national airlines for Norway, Sweden and Denmark.
12 Jan 2004 18:33
General Motors recalls 824,000 cars
General Motors, the world’s largest automaker, announced today that it was recalling 824,000 cars manufactured in 1996 and 1997 to repair a potential problem with their power steering systems.
12 Jan 2004 20:30
Alcoa Primary Metals to lay off 107 workers
Alcoa Primary Metals announced that they will cut 107 jobs at its plant in Massena, NY, due to its inability to reach an agreement with the New York Power Authority regarding its electricity needs.
09 Jan 2004 18:35
Manufacturing employment down as national unemployment rate declines
Manufacturing employment edged downward in December while the national overall unemployment rate, at 5.7 percent, continued to trend down, the Bureau of Labor Statistics of the US Department of Labor reported today.
09 Jan 2004 17:11
New jobless claims rise
Initial unemployment filings increased during the week ending January 3, according to the first such report released by the US Department of Labor this year.
08 Jan 2004 19:56
Rolls-Royce Naval Marine expands foundry in Mississippi
Rolls-Royce Naval Marine Inc. broke ground for the expansion of its foundry in Pascagoula, MS, yesterday.
07 Jan 2004 18:24
LaBarge awarded $3.25 million weapons system contract
St. Louis, MO-based electronics manufacturer LaBarge, Inc., announced today that Lockheed Martin awarded it a $3.25 million contract to produce printed circuit cards for the US military’s Aegis Weapon System.
06 Jan 2004 18:40
New orders, inventories decrease; shipments increase
New orders for manufactured goods in November decreased $4.9 billion or 1.4 percent to $336.9 billion, the US Department of Commerce’s Census Bureau reported today.
06 Jan 2004 19:16
ISM manufacturing report indicates further growth
Economic activity in the manufacturing sector grew in December, making it six consecutive months of growth, while the overall economy grew for the 26th consecutive month, according to the Institute for Supply Management's Report on Business.
05 Jan 2004 13:43
Manufacturing assistance legislation introduced in Senate
US Senator John Kerry (D-MA), ranking member of the US Senate Committee on Small Business and Entrepreneurship and a Democratic presidential candidate, introduced three manufacturing assistance bills in December.
01 Jan 2004 15:51
New leadership lands at Boeing
Philip M. Condit, chairman and chief executive officer of Chicago-based aerospace and defense giant Boeing, resigned unexpectedly in December, in the wake of recent controversies surrounding the company he’d run since the mid-1990s.
01 Jan 2004 15:53
PepsiCo, others announce plant closings, layoffs
Chicago-based PepsiCo, the world’s second-largest soft-drink manufacturer, announced in early December that it would eliminate approximately 750 jobs and close a Frito-Lay plant in Louisville, KY, as part of a reorganization plan. Mean-while, Tyson Foods, Otis Elevator and 3M also announced layoffs that will affect an additional 1,010 workers combined.
01 Jan 2004 15:55
President Bush lifts steel tariffs
President George W. Bush lifted 20-month-old foreign steel tariffs in December, prompting the European Union to drop their threat of heavy sanctions on US goods.
01 Jan 2004 15:52