Manufacturing news
November 2004
Weak dollar boost for manufacturers
The U.S. dollar has fallen to a record low against the euro and is at its lowest against the Japanese yen in almost five years.
26 Nov 2004 10:31
Manufacturing mass layoffs up
The manufacturing sector had 30 percent of all mass layoff events and 38 percent of all initial claims filed in October, according to data from the US Department of Labor's Bureau of Labor Statistics.
24 Nov 2004 17:23
New orders down, shipments up
New orders for manufactured durable goods in October decreased $0.9 billion, or 0.4 percent, to $196.3 billion, the Census Bureau of the US Department of Commerce reported today.
24 Nov 2004 17:57
Deere reports more than 505 percent rise in profits
Farm equipment manufacturer Deere & Company reported more than a 505 percent increase in profits today in its latest quarter compared to the same quarter last year.
23 Nov 2004 21:48
Two manufacturers win Baldrige Award
President George W. Bush and outgoing Commerce Secretary Donald Evans today announced four organizations, including two manufacturers, as recipients of the 2004 Malcolm Baldrige National Quality Award, the nation’s only Presidential award for quality and organizational performance excellence.
23 Nov 2004 17:48
American Airlines to defer delivery of Boeing jets
American Airlines and aerospace manufacturer Boeing announced today that American will defer 54 of 56 aircraft originally scheduled for delivery between 2006 and 2010, in order to postpone a total of $2.7 billion in spending through 2010.
22 Nov 2004 22:27
Krispy Kreme reports $3 million loss
While currently the subject of an investigation by the US Securities and Exchange Commission, doughnut maker Krispy Kreme posted a net loss of $3 million for its third quarter, compared with a profit of $14.5 million a year earlier.
22 Nov 2004 16:28
Smucker sales up sharply
Foods maker J. M. Smucker Company today announced results for its second quarter, with sales of $588.9 million, up 57 percent compared to $374.2 million in the second quarter one year ago.
19 Nov 2004 19:08
First-time unemployment filings fall slightly
Initial unemployment filings fell by 3,000, to 334,000, for the week ending November 13, the US Department of Labor reported today.
18 Nov 2004 15:49
S.C. Johnson CEO to become Nike CEO
Sportswear and shoe company Nike announced that Philip Knight, cofounder of the company, has stepped down as chief executive officer, to be replaced by the former CEO of household product manufacturer S.C. Johnson & Son.
18 Nov 2004 21:59
Audi of America VP leaves
Audi of America announced today that Axel H. Mees, the company’s vice president in charge of Audi of America in the United States and Canada, has left the company.
17 Nov 2004 17:34
Bath Iron Works awarded $489 million US Navy contract
The US Navy today announced that Bath Iron Works, a General Dynamics company, will receive $489 million in funding to construct an Arleigh Burke Class AEGIS guided missile destroyer.
17 Nov 2004 21:18
Casket manufacturer reports lively numbers
Hospital bed and funeral casket manufacturer Hillenbrand Industries Inc. reported fourth-quarter net income of $63 million, a huge increase from a mere $6 million during the same period one year ago, but forecast only a slight rise for next year.
16 Nov 2004 16:49
GM to close Baltimore plant
General Motors today announced that its Chevy Astro and GMC Safari vans will be discontinued in 2005, causing the closure next year of the company's Baltimore, MD-based assembly plant, which exclusively builds the two models.
16 Nov 2004 21:23
GE Infrastructure acquires Edwards Systems Technology
GE Infrastructure, a unit of General Electric Company, announced today that, subject to regulatory approvals, GE will acquire Edwards Systems Technology, the fire detection systems manufacturing business of SPX Corporation, for $1.395 billion in an all-cash transaction.
15 Nov 2004 20:11
Wrigley buys Life Savers and other brands
Confection maker Wrigley announced today that it has entered into an agreement to purchase several brands from Kraft Foods for $1.48 billion, including Life Savers, Creme Savers, and Altoids.
15 Nov 2004 17:38
Intel names new CEO
The world’s leading chip manufacturer, Intel, announced that its board of directors has elected Paul S. Otellini, currently president and chief operating officer, as its next chief executive officer.
12 Nov 2004 19:32
Manufacturers’ inventories, consumer spending up
Manufacturers’ and trade inventories in September were $1,258.3 billion, up 0.1 percent from August and up 7.3 percent from September 2003, while consumer spending for manufactured good went up, according to statistics released by the US Department of Commerce.
12 Nov 2004 17:47
First-time unemployment filings slightly up
Initial unemployment filings went up by 2,000, to a total of 333,000, for the week ending November 6, the US Department of Labor reported.
11 Nov 2004 18:34
UAW and Detroit Diesel reach agreement after workers strike
The United Auto Workers union and DaimlerChrysler's Detroit Diesel engine manufacturing plant have reached a tentative agreement, after 1,300 workers went on strike for one day.
11 Nov 2004 17:02
Commerce Secretary Evans resigns
In the wake of President George W. Bush’s re-election, his Secretary of Commerce, Donald Evans, resigned late yesterday.
10 Nov 2004 15:36
Trade deficit narrows in September
The foreign trade deficit in September was $51.6 billion, down 3.7 percent from August, though it is still the third-highest on record.
10 Nov 2004 18:45
AVL announces four new positions
Engine powertrain systems manufacturer AVL Powertrain Engineering announced the appointment of four new positions at its North American headquarters.
09 Nov 2004 15:43
Hospira reports sales increase
Hospira, one of the largest hospital products manufacturers in the United States, today reported results for its third quarter, including net sales of $656.1 million, one percent higher than the same quarter one year ago.
09 Nov 2004 21:38
Taser weapons approved for use on international airline
Non-lethal weapons manufacturer Taser International announced today that the US Transportation Security Administration has approved a major international airline’s application for the onboard use of Taser conducted-energy weapons by specially trained personnel on flights to and from the United States.
08 Nov 2004 20:31
TRW opens steering wheel plant in Romania
Auto parts manufacturer TRW Automotive announced the opening of its first plant in Romania, a steering wheel manufacturing site employing 250 people in a 23,000-square-foot facility.
08 Nov 2004 16:02
Manufacturing employment remains stagnant
Employment in the manufacturing sector was about unchanged in October and has shown little change since May, reported the US Department of Labor today.
05 Nov 2004 17:39
Manufacturing productivity growth down
Manufacturing productivity increases in the third quarter were 4.3 percent in manufacturing as a whole, with a five percent rise in durable goods manufacturing, and 4.3 percent rise in nondurable goods manufacturing, according to figures released by the Bureau of Labor Statistics of the US Department of Labor.
05 Nov 2004 16:07
Jobless claims slide
The Labor Department reports that fewer Americans filed unemployment claims last week.
04 Nov 2004 14:53
NAM hails Bush victory and get-out-the-vote effort
With US Senator John Kerry’s concession to President George W. Bush, and final votes in congressional races boding well for a new era of pro-growth policy-making, the nation’s manufacturers are “extremely pleased with our grassroots efforts to educate workers and get them to the polls in record numbers,” said National Association of Manufacturers President John Engler at a news briefing.
03 Nov 2004 21:21
240,000 Chrysler minivans to be recalled
Automaker Chrysler Group announced that it is recalling 240,000 minivans due to a defect that can cause their radios to short-circuit, causing a fire hazard.
02 Nov 2004 16:54
Clorox income down
Detergent maker The Clorox Company reported net income of $123 million in its latest quarter, down from $129 million the year earlier, due in large part to restructuring costs.
02 Nov 2004 19:08
ISM Report: Cautious growth
Economic activity in the manufacturing sector was up in October for the 17th consecutive month, while the overall economy grew for the 36th consecutive month, say US supply executives in the latest Manufacturing ISM Report On Business.
01 Nov 2004 16:51
Tyco turning it around
Manufacturing conglomerate Tyco International reported a significant fourth-quarter profit of $454 million, up from a $297 million loss one year ago, due in part to strong demand for its electronic parts.
01 Nov 2004 16:16
Axle Alliance, UAW announce national agreement
Axle Alliance, an affiliate of DaimlerChrysler that manufactures axles for its plants in North America, and the United Auto Workers union announced a new national multi-plant collective bargaining agreement today—the first multi-plant agreement negotiated by the UAW in two decades.
01 Nov 2004 20:16
JOBS Act signed into law
A bill intended to eliminate a tax break for US exporters that had been declared illegal under World Trade Organization rules passed the US Congress—but before it passed, billions of dollars in tax breaks, benefiting numerous manufacturing sectors, were attached to the bill. President George W. Bush signed the approved bill into law in late October.
01 Nov 2004 20:15
Manufacturing executives optimistic despite economy
According to Grant Thornton’s Survey of US Business Leaders released in October, manufacturing business executives are optimistic about the growth of their own businesses, but they are less confident today in the US economy as a whole than they were six months ago.
01 Nov 2004 20:17
SEC investigation into Krispy Kreme
The US Securities and Exchange Commission has entered a formal order of investigation into donut maker Krispy Kreme Doughnuts.
01 Nov 2004 20:16