News Archive

Manufacturing news

June 2004

Manufacturing job growth weak in 2003, says report

Manufacturing was the weakest industry for job growth in 2003, with 175 of 274 metropolitan areas posting employment losses over the year, the Bureau of Labor Statistics of the US Department of Labor reported today.
30 Jun 2004 15:54

Taser gets military contract

Taser International, Inc., announced today that it has received a $1.8 million order from the US military for its non-lethal conducted energy weapons and accessories.
30 Jun 2004 15:15

McCormick earnings up

Sparks, MD-based McCormick and Company, the world's largest spice manufacturer, reported a seven percent jump in earnings during their most recent quarter.
29 Jun 2004 15:32

Nortel divests manufacturing operations

Telecommunications firm Nortel Networks announced today that it will stop making its own equipment and will rely instead on a Singapore-based contract manufacturer to oversee $2.5 billion worth of work each year.
29 Jun 2004 16:07

Consumer spending on manufactured goods rises

Consumer spending, which accounts for approximately two-thirds of all US economic activity, rose one percent last month, the largest increase since October 2001, the US Department of Commerce reported today.
28 Jun 2004 16:13

NetJets orders more Hawkers from Raytheon

Waltham, MA-based Raytheon Aircraft Company has sold 40 Hawker business jets to private aviation firm NetJets Inc., for a total price of more than $300 million.
28 Jun 2004 16:18

Del Monte’s earnings more then double

San Francisco, CA-based foods maker Del Monte Foods reported net income of $56.6 million for the fiscal 2004 fourth quarter, more than double the $23.5 million reported during the same period one year ago.
25 Jun 2004 18:59

Lockheed’s purchase of Titan in jeopardy

Lockheed Martin’s acquisition of Titan Corp appears to be in peril. Titan has been unable to resolve a federal investigation into violations of the Foreign Corrupt Practices Act.
25 Jun 2004 16:33

Nike Profits Jump in 4Q

Nike Inc., the world’s largest maker of athletic footwear and apparel, beat analyst’s expectations and posted a 23 percent gain in net income for its fourth fiscal quarter.
25 Jun 2004 16:19

Durables Still Down

Orders for durable goods declined for the second straight month in May, defying analysts’ expectations of a recovery, shows a report released by the US Commerce Department on Thursday.
24 Jun 2004 14:59

Initial unemployment claims rise

Initial unemployment filings jumped 13,000 to 349,000 for the week ending June 19, the US Department of Labor reported today.
24 Jun 2004 18:58

Drug companies team up on cancer

Merck & Co. has announced that they will team up with Vertex Pharmaceuticals to develop VX-680, a new cancer fighting drug.
23 Jun 2004 17:08

General Motors announces Asia-Pacific headquarters move

Big Three automaker General Motors announced plans to move its Asia-Pacific headquarters from Singapore to Shanghai by January 2005. and also announced a $253.7 million initiative with a Chinese partner, Shanghai Automotive Industry Corp., for the expansion of a GM design center in China.
23 Jun 2004 16:56

Tobacco merger moves forward

The US Federal Trade Commission has closed its investigation of the proposed merger of R.J. Reynolds Tobacco Co. and Brown & Williamson, two of the nation’s leading cigarette makers.
23 Jun 2004 15:12

Coca-Cola’s chief marketing officer resigns

The Coca-Cola Company, the Atlanta, GA-based beverage giant, announced that its chief marketing officer, Daniel Palumbo, is resigning to pursue other interests.
22 Jun 2004 21:59

GlaxoSmithKline to post clinical trials online

Prescription drug giant GlaxoSmithKline has announced that the company will post results from drug trials online.
22 Jun 2004 16:07

Steel maker's profits soar

Commercial Metals Company reports record quarterly profits of $50.9 million, more than in any complete year previously.
22 Jun 2004 15:55

Goodyear reports strong first quarter

The Goodyear Tire & Rubber Company reported its first-quarter results today, including a 21 percent gain over same-quarter sales last year.
21 Jun 2004 14:28

Steelcase International president resigns

Grand Rapids, MI-based office-furniture manufacturer Steelcase announced today that its president of Steelcase International, Robert W. Black, is resigning from the company.
21 Jun 2004 17:15

Taser ups revenue forecast

Taser International Inc., the Scottsdale, AZ-based stun gun maker, raised its revenue forecast for the year. Taser expects revenue to rise by 150 percent this year thanks to increased business from law enforcement agencies.
21 Jun 2004 15:13

Ford optimistic on earnings

Ford Motor Company raised its second-quarter earnings outlook reflecting the strong performance of the company’s financial services sector.
18 Jun 2004 15:38

Smucker buys Multifoods; reports profit decline

J.M. Smucker Co. completed its $840 million acquisition of Minneapolis, MN-based International Multifoods Corp. on Thursday.
18 Jun 2004 16:55

State unemployment rates flat

State unemployment rates were generally little changed in May, but employment was up over the course of the year, reported the Bureau of Labor Statistics of the US Department of Labor today.
18 Jun 2004 15:47

Drop in jobless claims

New applications for unemployment benefits fell last week according to the Labor Department.
17 Jun 2004 14:30

Manufacturing Council members named

US Secretary of Commerce Donald L. Evans has announced the 11 members of a new Manufacturing Council to advise the Bush Administration.
17 Jun 2004 15:20

US Navy awards $38 million contract to Canadian company

The US Navy has awarded Canadian flight-simulator manufacturer CAE a contract valued at $38 million to develop two MH-60S tactical operational flight trainers and two MH-60S weapons tactics trainers.
17 Jun 2004 16:22

DuPont increases Kevlar production

DuPont recently announced plans to increase production of Kevlar. The company plans to invest $70 million to ramp up for the increase, including the purchase of new equipment.
16 Jun 2004 16:39

Production climbs in May

Industrial production rose 1.1 percent in May, according to a report released today by the Federal Reserve—the biggest gain since August 1998, and a hopeful sign for manufacturing’s recovery.
16 Jun 2004 16:29

Virgin America chooses Airbus over Boeing

New low-cost airline Virgin America will buy and lease up to 105 Airbus planes, and selects San Francisco, CA as operations base.
16 Jun 2004 16:54

LaBarge gets $1 million Northrop Grumman contract

St. Louis, MO-based electronics manufacturer LaBarge has been awarded contracts valued at more than $1 million by aerospace company Northrop Grumman's Defensive Systems Division.
15 Jun 2004 21:18

QLT acquires Atrix Laboratories

Vancouver, British Columbia-based pharmaceutical manufacturer QLT has announced its agreement to buy Fort Collins, CO-based Atrix Laboratories for approximately $855 million in cash and stock.
15 Jun 2004 16:16

Layoffs to come at Sara Lee

Sara Lee Corp. has announced that the company will eliminate 4,175 manufacturing jobs and close five of the company’s factories from its branded apparel division.
14 Jun 2004 15:34

Trade deficit, imports hit record highs

The US trade deficit widened in April to a record $48.3 billion, as imports increased to a record $142.3 billion.
14 Jun 2004 19:08

Maytag workers go on strike

Maytag employees at the company’s Newton, Iowa facility walked off the job Thursday after a break down in contract negotiations.
11 Jun 2004 16:07

Outsourcing job loss minimal

Less than 30 percent of the jobs lost to outsourcing were then sent overseas, the Bureau of Labor Statistics of the US Department of Labor reported.
11 Jun 2004 16:48

China to have role in Boeing’s 7E7

Boeing has signed an agreement with two state-owned Chinese manufacturers to supply parts and assembly for Boeing airplanes, including the new 7E7 Dreamliner.
10 Jun 2004 16:23

Initial unemployment filings up 12,000

First-time unemployment filings jumped significantly by 12,000 to a total of 352,000 for the week ending June 5, the US Department of Labor reported today.
10 Jun 2004 15:53

Coke to lose #2 executive

Coca-Cola announced that President and Chief Operating Officer Steven Heyer is leaving the company. Heyer, who had been passed over for the company’s top job in May, will be leaving after an unspecified transition period.
09 Jun 2004 15:51

Inventories down, sales up

Wholesale inventories dropped in April for the first time since August 2003, the US Department of Commerce reported today.
09 Jun 2004 18:17

DHB awarded $239.4 million US Army contract

DHB Industries has been awarded a $239.4 million contract over three years for its recently-developed body armor system from the US Army.
08 Jun 2004 22:05

Timken raises steel prices

Canton, OH-based steel manufacturer and automotive supplier The Timken Corporation announced it would increase prices on its tubular steel products by 3.5 to 10 percent.
08 Jun 2004 16:23

Elizabeth Arden posts loss

Miami Lakes, FL-based cosmetics manufacturer Elizabeth Arden, Inc., posted a loss of $13.7 million in its first quarter, up from a loss of $16.7 million in its first quarter one year ago.
07 Jun 2004 16:02

GM to invest $3bn in China

General Motors announced today that it is to invest over $3 billion building new engineering and design facilities in China and more than doubling its manufacturing capacity there.
07 Jun 2004 14:45

Ford ordered to pay nearly $369 million

A jury ordered Dearborn, MI-based Ford, the world’s third-largest automaker, to pay nearly $369 million in damages to accident victim Benetta Buell-Wilson.
04 Jun 2004 15:50

Manufacturing sector adds 32,000 jobs in May

Manufacturing employment grew by 32,000 in May, the Bureau of Labor Statistics of the US Department of Labor reported today.
04 Jun 2004 21:09

First-time unemployment claims drop

Initial unemployment filings decreased slightly, dropping 6,000 to 339,000 for the week ending May 29, the US Department of Labor reported today.
03 Jun 2004 21:51

Manufacturing productivity up

The Bureau of Labor Statistics of the US Department of Labor today reported a 2.9 percent rise in manufacturing productivity in the first quarter of 2004.
03 Jun 2004 15:56

Metropolitan manufacturing employment down

A total of 186 out of 331 metropolitan areas reported manufacturing employment losses over the twelve months ending in April, the Bureau of Labor Statistics of the US Department of Labor reported today.
02 Jun 2004 18:23

United Natural Foods profits jump

Dayville, CT-based foods supplier United Natural Foods announced that its third-quarter profit rose 51 percent to $9.2 million from $6.2 million, due in large part to its regaining a major supply contract with natural-foods grocery chain Wild Oats Market.
02 Jun 2004 16:48

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