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Globaline
Weekly publication of the most up-to-date global news on your customers and competitors. Available only to AMT members.
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Archived News
- January 2008
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UPDATE 2-ANA to buy 59 Boeing planes for $5.7 billion
January 31, 2008 -- TOKYO, Jan 31 (Reuters) - Japan's All Nippon Airways (ANA) said on Thursday it would spend 630 billion yen ($5.9 billion) to buy 59 new fuel-efficient planes from Boeing to help it cope with soaring jet fuel prices. Jan 31, 2008
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PAKISTAN AGENCY EXTENDS DATE FOR MACHINE TOOL PRIVATISATION
January 31, 2008 -- ISLSMABAD, Pakistan, Jan 31 Asia Pulse - Pakistan's Privatisation Commission has extended the last date to Feb 7 2008 for investors to submit Expressions of Interest (EOI) to acquire a minimum of 90% shares of the Pakistan Machine Tool Factory (Pvt.) Ltd. (PMTF). The offer is extended to companies or consortia engaged in manufacturing or engineering business which can demonstrate the ability to own and efficiently manage and operate the company. Jan 31, 2008
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RIO TINTO TO UPGRADE ALUMINIUM PRODUCTION PLANT IN SCOTLAND
January 31, 2008 -- PERTH, Jan 31 Asia Pulse - Rio Tinto Alcan (ASX:RIO) has announced a $US90 million ($A101.5 million) investment in the modernisation of its Lochaber aluminium production plant in Scotland. The modernisation project is scheduled to begin next year and should be completed by 2012. Jan 31, 2008
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Mazda May Delay Opening of North American Plant
January 30, 2008 -- Mazda Motor Corp. (TSE:7261) will reconsider when it opens a new plant planned for North America because of the U.S. subprime mortgage crisis, President Hisakazu Imaki indicated Tuesday. "We need to carefully consider our plans because we can't project the future of the North American market due to the subprime loan problem," he told reporters after a news conference for launching the remodeled Atenza, known outside Japan as the Mazda6. Jan 30, 2008
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Japan's NTN to Make Ultralarge Bearings for Wind Turbines
January 30, 2008 -- NTN Corp. (TSE:6472) will start producing ultralarge bearings for wind turbines, having earmarked about 8 billion yen (US$75 million) to bring a factory online in fiscal 2009 that will specialize in making bearings over 3 metres in diameter. Construction of the plant in Ishikawa Prefecture is to start this spring. The firm targets about 7 billion yen in sales in fiscal year 2012, mainly to domestic wind turbine manufacturers. Jan 30, 2008
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India's BHEL to Invest US$187 MLN to Boost Plant Capacity
January 30, 2008 -- Power equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) (BSE:500103) on Tuesday said it will invest Rs 7.36 billion (US$186.9 million) to increase the capacity of its manufacturing plant at Trichy in Tamil Nadu by 2009. BHEL would upgrade the production capacity of boilers by over four times in the unit. It has already invested Rs 1.90 billion on the boiler shop in Tamil Nadu. Jan 30, 2008
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Russian Machines Appointed the Business Director
January 29, 2008 -- N.Kovalev was appointed the director for military-industrial business at Russian Machines, the company informed. He is charged to provide control over the development of the modern line of cars and armored facilities made at the entities included into Russian Machines and development of new samples for enforcing structures. One of the most important targets is the formation of the servicing system and efficient system of private-state partnership. Jan 29, 2008
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German machine tool sector to grow by 5.0 percent this year: VDMA
January 29, 2008 -- Growth of Germany's key machine tools sector should slow markedly to around five percent this year from an 11-percent expansion in 2007, the VDMA machinery association said Tuesday. Jan 29, 2008
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Caterpillar Wins $8.41 Million Contract
January 29, 2008 -- The U.S. Army has awarded a $8.41 million contract to Caterpillar Inc., Peoria, Ill., for miscellaneous construction equipment. Jan 29, 2008
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HAAS Partners with Axon for Global SAP Implementation Initiative; HAAS's implementation positions the company for a global roll out
January 28, 2008 -- Axon Solutions Inc., announced that it has successfully completed, in partnership with SAP, the first phase of HAAS's ERP/APO transformation on time and on budget. The implementation will provide greater efficiency and integration throughout the global organization. The move to a complete configurable product environment provides a better customer experience, more efficient maintenance of product structures and better planning capabilities. Jan 28, 2008
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German ThyssenKrupp Plans Hike in Steel Prices
January 28, 2008 -- German steel and engineering group ThyssenKrupp AG plans to introduce higher prices for flat steel from the third quarter of fiscal 2007/08, the company said on January 28, 2008. The fiscal year, ending September 30, 2008, has started well for the group's steel unit ThyssenKrupp Steel and Ulrich Koehler, the executive heading it, expects the deliveries volume to stand at a high level for the entire year. A revenue growth is to be boosted by a hike in prices and the positive market signals have already indicated that such an increase may be achieved as early as the next quarter, Koehler added. Jan 28, 2008
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India to offer 1 billion dollar aircraft deal to Lockheed Martin - official
January 28, 2008 -- India is set to award a one-billion-dollar contract to Lockheed Martin for six Hercules transport planes in the biggest military aircraft deal with the US in five decades, an official said Monday. A formal contract is likely to be issued next month to US-based Lockheed which is also in the race for a 10-billion dollar contract to sell 126 fighter jets to the Indian air force, a defense ministry official said. Jan 28, 2008
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ThyssenKrupp Steel and JFE develop new ultrahigh-strength steel
January 25, 2008 -- ThyssenKrupp Steel and Japan's JFE Steel Corporation have developed a new ultra-strength steel in a bid to boost their positions in the automotive market. The two steelmakers have patented TP-N 68/78, a new multiphase steel for automotive applications, available as hot-rolled coil and coated. Jan 25, 2008
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Doosan Heavy Wins US$217 MLN Nuke Plant Order in S. Korea
January 25, 2008 -- Doosan Heavy Industries & Construction Co., South Korea's top power equipment maker, said Friday it has won a 120 billion won (US$127 million) order to improve the performance of a nuclear power plant in southeastern South Korea. Under the deal with Korea Hydro & Nuclear Power Co., Doosan Heavy Industries & Construction plans to complete work to improve the No. 2 reactor of the Uljin nuclear power plant, 330 kilometers southeast of Seoul, by December 2011, Doosan Heavy said in a statement. Jan 25, 2008
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Dredger Sales in China Rising Fast
January 25, 2008 -- Twenty major Chinese dredger manufacturing companies reported record high sales of over 66,000 units in 2007, up 45 per cent year-on-year, according to statistics provided by the China Construction Machinery Association. Enticed by huge market demand, sales of dredgers in China may maintain two-digit growth in 2008. Jan 25, 2008
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Aerospace firms up and away Boeing, Standard get deals but big one is still out there
January 24, 2008 -- FEDERAL cabinet ministers and senior executives from Boeing and Lockheed Martin announced $341 million worth of work for western Canadian companies on Wednesday-- but left unsaid was the prospect of a massive piece of work that may yet be won by a Winnipeg company. Jan 24, 2008
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Toyota set to grab biggest carmaker title from GM
January 24, 2008 -- General Motors looks to be in danger of losing its 76-year title as the world's biggest carmaker in terms of sales as totals for 2007 released yesterday showed the Detroit company in a virtual tie with Japan's Toyota. Jan 24, 2008
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ArvinMeritor Appoints Sherry Welsh Vice President, Sales and Marketing, Light Vehicle Systems
January 23, 2008 -- ArvinMeritor, Inc. (NYSE: ARM) announced today that Sherry Welsh is appointed vice president of Sales and Marketing for the company's Light Vehicle Systems (LVS) business group. She will be responsible for leading LVS' global sales and marketing strategy. "Sherry's prior successes leading global sales and marketing initiatives within the automotive industry will make her a valuable addition to the LVS team," said Phil Martens, president of LVS. "We are capitalizing on aggressive growth opportunities in emerging markets with profitable expansion plans. Sherry's past experience fits well with our strategy to increase penetration in Asia Pacific, which is one of our fastest-growing markets." Jan 23, 2008
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Rolls-Royce Wins Canadian Air Force Business Worth Over $135M
January 23, 2008 -- Rolls-Royce, the world leader in engines for military transport aircraft, has been selected as the propulsion system provider for the Canadian Air Force's newly contracted fleet of 17 Lockheed Martin C-130J tactical lift aircraft. Each aircraft is powered by four Rolls-Royce AE2100D3 advanced turboprop engines and Rolls-Royce values the business at more than $135 million over the life of the program. Aircraft delivery is scheduled for 2010. Jan 23, 2008
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Kaman Aerospace to supply cockpits for Sikorsky's helicopters
January 23, 2008 -- Kaman Aerospace Corporation, a subsidiary of Kaman Corporation (Nasdaq: KAMN) and a subcontractor for structures and components for general aviation aircraft, announced on Tuesday (22 January) that the company's Aerostructures division has signed a memorandum of agreement with Sikorsky Aircraft Corporation, a subsidiary of United Technologies Corp (NYSE: UTX), to manufacture cockpits for BLACK HAWK helicopters through 2012 at Kaman's facility at Jacksonville, Florida, US. Jan 23, 2008
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Health products maker J&J says 4Q profit rose nearly 10 percent on strong revenue growth
January 22, 2008 -- Health care products maker Johnson & Johnson on Tuesday posted a fourth-quarter profit increase of nearly 10 percent as revenues jumped by double digits despite declines in sales of two key product lines. The New Brunswick, N.J.-based maker of prescription drugs, medical devices, contact lenses and baby care items reported net income of $2.37 billion, or 82 cents per share, up from $2.17 billion, or 74 cents per share, a year earlier. Jan 22, 2008
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Cosma, Shin Young Metal to Supply Parts to Hyundai's St Petersburg Plant
January 22, 2008 -- They will supply major stampings and welded assemblies to the plant from a greenfield manufacturing facility to be built in close proximity to the Hyundai assembly plant, the company said in a press release. Jan 22, 2008
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China's Machine-Building Industry in Fast Growth
January 22, 2008 -- The output value of China's machine-building industry exceeded seven trillion yuan (US$966 billion) for the first time in 2007, growing nearly 32 per cent year-on-year. China's machine-building industry has grown at a rate of over 20 per cent for five years running, statistics published by China Machinery Industry Federation show. Jan 22, 2008
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Prosecution Suspects Insider Trading at German Gildemeister
January 18, 2008 -- The prosecution of Bielefeld joined the investigation against German machine tool maker Gildemeister AG, on suspicion of insider trading, following the huge trading volume of Gildemeister shares on the stock exchange on January 17, 2008, senior prosecutor Klaus Pollmann said in a media report on January 18. After the share price plunged on January 16, the machine tool maker's stock went up by 12 pct the following day, and thus became the leader in the mid-cap index MDax on the Frankfurt Stock Exchange (FSE). Local financial watchdog BaFin will inspect the development of the share price and compare it to the information given by the company. Jan 18, 2008
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Schulz To Remain German ThyssenKrupp CEO Until 2011
January 18, 2008 -- German steel and engineering group ThyssenKrupp AG will extend the contract of its chief executive officer Ekkehard Schulz by two years until 2011. The final decision on the matter is expected within the next few days, supervisory board chairman Gerhard Cromme said. Shareholders' spokesmen and stock market experts have welcomed the news. Jan 18, 2008
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Ford Australia Names Ford Canada Boss as New President
January 16, 2008 -- Car producer Ford Australia has a new president as it moves to play a bigger role in the auto giant's global operations. Bill Osborne, 47, currently the chief executive of the Ford Motor Company in Canada, will next month replace Tom Gorman who has led the organisation for almost four years. Jan 16, 2008
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India's Vedanta to Set Up US$6 BLN Steel Plant in Orissa
January 16, 2008 -- Non-ferrous metals giant Vedanta Resources is planning to enter the Indian steel sector with a 5 million tonne plant at an investment of about Rs 240 billion (US$6.1 billion) in Keonjhar district of Orissa and envisaging its commissioning by 2012-13. "We are impressed at the growing consumption of steel in India and are keen to enter its steel sector. We are planning to build a 5 million tonne steel plant at Keonjhar district of Orissa. If we find a suitable partner, we should be able to commission it by 2012-13 at an investment of about Rs 240 billion," company sources said. Jan 16, 2008
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Nippon Mining to Set Up Scrap Metal Collection Plant in Taiwan
January 15, 2008 -- Nippon Mining & Metals Co. plans to spend nearly 900 million yen (US$8.33 million) in Taiwan to build a facility to collect scrap metal and other waste in order to bolster recycling of gold, copper and other metals. This facility is scheduled to begin operating this year in an industrial park near the city of Taichung. It is expected to collect an annual 15,000 tons of scrap metal, scissel, and other raw materials for recycling from electronics parts makers and others. Jan 15, 2008
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Boeing Finalises Contracts with Vietnamese Companies
January 15, 2008 -- US aircraft manufacturing giant Boeing has finalised contracts worth US$2 billion to sell 12 Boeing B787-8 Dreamliners to Vietnam Airlines and the Vietnam Aircraft Leasing Company (VALC). Vietnam Airlines will take four of the jumbo jets, while the country's first and only aircraft leasing firm, VALC, will purchase the remaining eight aircraft to lease them back to Vietnam Airlines. Jan 15, 2008
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Volvo to Invest US$20.4 MLN for Setting Up Bus Mfg Plant in India
January 15, 2008 -- Bus maker Volvo Bus Corporation will invest Rs 800 million (US$20.4 million) to set up a bus body manufacturing plant at Hosakote, Bangalore. The company has tied up with India's Jaico Automobiles to form a joint venture company -- Volvo Bus Body Technologies India Pvt Ltd, Volvo Bus Corporation Director Akash Passey told reporters at the 9th Auto Expo here. Jan 15, 2008
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BorgWarner Promotes Tom Tan to Senior Post in China as Managing Director
January 14, 2008 -- AUBURN HILLS, Mich., BorgWarner today announced the promotion of Tom Tan to the position of Managing Director, China. In his new position, Tom serves as the senior representative for BorgWarner in China responsible for BorgWarner China Holding Company, customer and government relations as well as corporate functions and shared services departments. He will lead the growth of BorgWarner business in China and will continue to build the BorgWarner image and brand in this fast growing market and serve as the company's spokesperson in China. He chairs the China Steering Committee that coordinates across BorgWarner operations in China and is a member of the China Technical Center Steering Committee. (Photo: ) Jan 14, 2008
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Curtiss-Wright Awarded Laser Peen Contract From Boeing; To Provide Laser Peen Forming on 747-8 Wing Sections
January 14, 2008 -- Curtiss-Wright Corporation (NYSE: CW) announced today that its Metal Treatment segment has been awarded a contract from The Boeing Company to establish a laser peen forming production cell inside of Boeing's Frederickson, Washington facility. The laser peening cell is planned to be in production during the second quarter of 2008 and would initially be utilized for shaping the complex curvatures of some of the wing sections of the new Boeing 747-8. Jan 14, 2008
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India's NALCO May Invest US$3 BLN in S Sumatra Aluminum Smelter
January 14, 2008 -- India's National Aluminium Company Ltd (NALCO) is looking into the possibility of building an integrated aluminium ingot smelter in the Indonesian province of South Sumatra at a total cost of US$3 billion. A memorandum of understanding (MoU) to that effect was signed by the company's finance director, BL Bagra, and South Sumatra Vice Governor Mahyuddin NS in the presence of Director General of Metal, Machinery, Textile and Multifarious Industries at the Trade Ministry Anshari Bukhari on Friday. Jan 14, 2008
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AVIATION Eurocopter maker targets US EADS aims to break dependency on Airbus passenger jet sales and snatch defence contracts from Boeing as dollar slides
January 11, 2008 -- EUROPE'S aerospace giant EADS is launching an expansion blitz in the United States to escape the punitively high euro and break its dependency on Airbus passenger jets. Louis Gallois, head of the pan-European and British giant, said the company aimed to raise the share of its US operations from $2bn to $10bn ( pounds 5.1bn) in annual sales within a decade, with plans to grab defence business from Boeing. Jan 11, 2008
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Renault, Nissan to Set Up US$1 Bln Manufacturing Plant in India
January 11, 2008 -- French car maker Renault on Thursday said it will invest Rs 40 billion (US$1 billion) in association with Japanese auto maker Nissan Motors, to set up a manufacturing plant in India. The proposed plant at Chennai would have a capacity to produce 400,000 units per annum and would make both Renault and Nissan products. Jan 11, 2008
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BorgWarner Expands in India
January 10, 2008 -- Driven by growing demand, BorgWarner Thermal Systems has broken ground for a new facility near Chennai, India. Located in a high-tech business park near several automakers, the new 63,000-square-foot (5,900-square-meter) facility will include manufacturing, training, design services and administrative space for over 100 employees with room for future expansion. Jan 10, 2008
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US: Honda sets NA production records
January 10, 2008 -- Honda plants produced a record number of vehicles in 2007 in the US (1,015,462 units) and in North America (1,432,731 units) - including all-time best performances by four of its six auto plants in the region. It was the third straight record result and fourth consecutive year of continuous production growth for Honda in the US and North America, and the first time that US auto production exceeded 1m units in a single year. Jan 10, 2008
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Vietnam licenses first aircraft components manufacturer
January 10, 2008 -- The MHI Aerospace Vietnam Co Ltd, (MHIVA), a subsidiary of the Japanese conglomerate Mitsubishi Heavy Industries, Ltd. (MHI), officially received an investment certificate at a ceremony held by the Hanoi Export Processing and Industrial Zones Authority in Hanoi on 10 January. Jan 10, 2008
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BAE Wins £1.2BN US Bomb Disposal Deal
January 9, 2008 -- BAE Systems was today selected as the sole producer on a $2.3 billion (£1.2 billion) contract to make mine-proof vehicles for the US Department of Defense. Jan 09, 2008
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Gaio Named CFO Of Hardinge
January 9, 2008 -- Charles R. Trego, Jr. has resigned as senior vice president and chief financial officer of Hardinge Inc. (NASDAQ: HDNG), effective March 2. Edward J. Gaio has been named as VP and CFO as of that date. Jan 09, 2008
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Indian Giant Tata Puts Iranian Steel Project on Hold
January 9, 2008 -- Amid reports that it has put its three million tonne greenfield project in Iran on hold, Tata Steel (BSE:500470) said that it was working on "some issues" pertaining to it. The reports attributed the decision to put the project on hold to political uncertainty and larger geopolitical concerns. Earlier, Essar Group had dropped plans to develop an oil refinery in the Persian Gulf nation. Jan 09, 2008
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Lockheed Martin awarded $556 million U.S. Army contract related to Patriot missile program
January 8, 2008 -- Lockheed Martin Corp., the nation's largest military contractor, said Tuesday it was awarded a $556 million from the U.S. Army Aviation and Missile Command for work related to the Patriot Missile program. The Bethesda, Md.-based company will provide hardware, including production of 148 Patriot Advanced Capability-3, or PAC-3, Missiles, 17 launcher modification kits and other equipment, as well as program management and engineering services. Jan 08, 2008
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Hitachi Construction Machinery to Build Excavators in Russia
January 8, 2008 -- Hitachi Construction Machinery Co. (TSE:6305) plans to establish a joint venture in Russia to start producing excavator parts there this year and to churn out finished goods by 2012, The Nikkei learned Monday. The Japanese firm, which to date has exported hydraulic excavators to the Russian market, will switch to local production because of anticipated demand growth in Russia for infrastructure and mine development amid high resource prices. Jan 08, 2008
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Soaring Materials Prices Cause Problems for Machine-tool Makers
January 7, 2008 -- Thanks to sharp price hikes for Brazilian pig iron, Taiwan's importers have boosted their pig-iron quotations for second-quarter delivery to US$545 per metric ton, up 12.37% from prices quoted just three months ago. The price of coke, which is used as a fuel to reduce metallic oxides in metals, has skyrocketed 28.5% over the past three months. Jan 07, 2008
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Japanese Car Output in BRICs to Top North America Prod'n in 2011
January 7, 2008 -- Japanese carmakers will manufacture more automobiles in the so-called BRIC nations than in North America as early as 2011, according to their production schedules, which include plans to build new factories and boost output in Brazil, Russia, India and China. Corporate plans show that their collective production in the BRIC countries will increase to 5.4 million units in the early 2010s, compared to the 2 million made there in 2006. In contrast, their total output in North America is projected to grow only gradually to around 4.8 million vehicles from 4 million in 2006. Jan 07, 2008
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Belgium's IMEC to Establish Liaison Office in Taiwan
January 7, 2008 -- The Interuniversity Microelectronic Center (IMEC), Europe's leading independent research center in the field of micro- and nanoelectronics as well as nanotechnology, has decided to establish a liaison office in Taiwan to further encourage exchanges with this country. The IMEC Taiwan office, expected to be located in the Hsinchu Science Park, Taiwan's first and largest "Silicon Valley, " is scheduled to be inaugurated Jan. 22, a source from the preparatory office said Sunday. Jan 07, 2008
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Hyundai Motor to Start Building Plant in Brazil
January 4, 2008 -- South Korea's largest automaker Hyundai Motor Co. (KSE:005380) said Friday it will start building an auto assembly factory in Brazil this year, in addition to a previously announced plan for a plant in Russia. The new investment plan was disclosed by company vice chairman Kim Dong-jin in a speech to the company's new employees in Seoul. Jan 04, 2008
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Clough sells Shedden Uhde stake for $40m
January 4, 2008 -- Embattled Perth engineering group Clough has sold its 50 per cent stake in engineering firm Shedden Uhde, for $40 million as the company moves to axe non-core investments to bolster its balance book ahead of potential further fallout from the G1 arbitration process. The sale marks the end of a seven-year strategic alliance between the two engineering groups, which was formed in 2001 when Shedden Uhde (a subsidiary of Germanys Uhde group) and Clough Engineering began to co-operate on the ill-fated $400 million Origin Energys BassGas onshore gas plant project. Jan 04, 2008
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China's Aviation Makers Eye Consolidation to Make Large Jets
January 3, 2008 -- China Aviation Industry Corporation I (Avic I), which in 2007 elevated China into the world's fourth country to develop its own advanced fighter aircraft - the "Jian 10" - is considering consolidation with another domestic large jet maker. The discussion between Beijing-based Avic I and China Aviation Industry Corporation II (Avic II) might lead to the re-merging of the two state-owned enterprises spun off in 1999 from the former Aviation Industries of China. Jan 03, 2008
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Magna to boost presence in Turkey; Plans To Buy Land
January 3, 2008 -- Canadian auto supplier Magna International Inc. plans to expand its presence in Turkey, part of a growing push by manufacturers into car-hungry Eastern Europe as auto sales stall further west. Company spokeswoman Tracy Fuerst confirmed yesterday the Aurora, Ont.-based auto-parts giant intends to buy land in Turkey. She declined to say how much Magna would spend on the expansion. Press reports in Turkey have given figures in the range of $400-million to $500-million. Jan 03, 2008
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Mindray Hires Hsu As Vice President
January 2, 2008 -- Mindray Medical International Ltd. (NYSE: MR), a leading developer, manufacturer, and marketer of medical devices in China, has appointed Peter Hsu as vice president of sales, marketing, and services for North America. Jan 02, 2008
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Federal-Mogul Corp Emerges From Chapter 11
January 2, 2008 -- Federal-Mogul Corp., a major auto-parts supplier, Wednesday said it emerged from Chapter 11 bankrupcy-court protection on Dec. 27, with plans for a public listing of its shares. Jan 02, 2008
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SPX acquires APV
January 2, 2008 -- SPX Corporation has announced the acquisition of APV, a manufacturer of process equipment and engineered solutions and a division of Invensys. SPX first announced that it had entered into a definitive agreement to acquire APV on October 31, 2007. APV will be operated as part of SPX's flow technology segment. Jan 02, 2008
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