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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
- August 2007
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BAE Systems Wins $1.18 Million Contract
August 31, 2007 -- The U.S. Navy has awarded a $1.18 million contract to BAE Systems, Nashua, N.H., for transmitter counters and other replacement parts. Aug 31, 2007
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Citizen Machinery to Assemble Tools in China to Cut Prices
August 31, 2007 -- Until now, the Citizen Holdings Co. subsidiary had shipped machinery tools for the Chinese market mainly from Thailand. Aug 31, 2007
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Taiwan's Machinery Output Value Estimated to Rise 10% in 2007
August 31, 2007 -- Thanks to the growth in demand for PCB (printed circuit board) manufacturing equipment, the machinery for the TFT-LCD (thin film transistor-liquid crystal display) manufacturing industry, and high-value-added precision machinery and related components, the overall production value for domestic machinery industry will increase 8% to 10% year-on-year this year. Aug 31, 2007
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Nissan to Expand Global Production
August 30, 2007 -- Nissan Motor Co., Ltd. today announced that it will expand the the production of its popular Qashqai/Dualis mid-size crossover, adding new capacity at the Kyushu plant in Japan. Aug 30, 2007
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SPX Wins $6.28 Million Contract
August 30, 2007 -- The U.S. Army has awarded a $6.28 million contract to SPX Corp., Newington, Conn., for helicopter rotor blades, drive mechanisms and components. Aug 30, 2007
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ThyssenKrupp Takes Over Dutch Stokvis Plastics
August 30, 2007 -- German ThyssenKrupp Services AG, the services unit of local steel and engineering group ThyssenKrupp AG, has bought Dutch plastics company Stokvis Plastics BV. Aug 30, 2007
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Boeing Awarded Contract to Support Apache Helicopters
August 28, 2007 -- The Boeing Company has been awarded a $19.9 million U.S. Army contract modification to expand its support of the Apache Reliability and Safety Recapitalization program. Aug 28, 2007
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Brazil Mail Service in Talks on Embraer Cargo Jet Plan
August 28, 2007 -- Brazil's mail service Correios is studying the creation of its own air fleet to transport mail and is in talks with local aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ), or Embraer, to produce specially adapted jets, Correios President Carlos Henrique Almeida Custodio said Tuesday, according to the local Estado newswire. Correios hopes to formulate plans for the service by the end of the year, which could involve a private sector partner. At present, the mail service hires third parties to transport mail in contracts totaling approximately 500 million Brazilian reals ($250 million). Aug 28, 2007
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Timken Wins New Rail Customer in Norway
August 28, 2007 -- The Timken Company announced that it recently supplied Norwegian mining company Rana Gruber AS with cartridge bearings that significantly increased the load capacity of freight cars transporting iron ore. Aug 28, 2007
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Emerson to Set Up $30 Million Production Base in China
August 27, 2007 -- The Emerson Process Management Co Ltd, a business of US-based Emerson, has announced an investment of $30 million to establish a production base in Nanjing, capital of East China's Jiangsu Province. Aug 27, 2007
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DJ ThyssenKrupp AG to Set Up Crankshaft Production Site in China
August 27, 2007 -- With this step, ThyssenKrupp intends to expand its position in the Chinese market. Aug 27, 2007
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Taiwan to Promote Development of Vehicle Electronics Industry
August 27, 2007 -- The global vehicle electronics industry's annual output is expected to reach US$166.4 billion by 2009, the official said. Aug 27, 2007
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Tanoi to Build Plant in Hokkaido
August 24, 2007 -- Japanese Tokyo-based screw maker Tanoi MFG Co will buy a 6,800 sq m land plot in Shiraoi, Hokkaido prefecture. Aug 24, 2007
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Bosch to Produce Common Rail Injectors in India
August 24, 2007 -- German car parts producer Robert Bosch GmbH has launched production of common rail injectors in its Nashik plant, in western India. Aug 24, 2007
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Hitachi Chemical to Boost Electrode Materials Production
August 24, 2007 -- Hitachi Chemical Co. plans to expand output capacity for graphite materials used in lithium ion battery electrodes by 20 per cent by March 2008 in response to growing demand. Aug 24, 2007
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Boeing, VSMPO form Russian Titanium Joint Venture
August 21, 2007 -- U.S. aircraft maker Boeing Co on Tuesday announced the formation of a joint venture with Russia's VSMPO-Avisma to produce titanium parts for its 787 Dreamliner jets. Aug 21, 2007
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Harris Picks Up $30 Million Contract for F-22 Work
August 21, 2007 -- Melbourne-based Harris Corp. has received a $30 million contract from Lockheed Martin Corp. to produce high-speed fiber-optic communications equipment for the F-22 Raptor fighter-jet fleet. Aug 21, 2007
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Moraine Delphi Plant to Close; 315 to Lose Jobs
August 20, 2007 -- Delphi Corp. has alerted the state that it intends to close its Kettering Boulevard plant in early- to mid-October, displacing about 275 hourly and 40 salaried workers. Aug 20, 2007
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China's Machinery Industry Posts $440 Billion Ouput in H1
August 20, 2007 -- China's machinery industry posted a total output value of 3,342.315 billion yuan (US$439.8 billion) in the first half of this year. Aug 20, 2007
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China Buys $4 Billion Worth of Electric Locomotives
August 20, 2007 -- Chinese Ministry of Railways and CSR Zhuzhou Electric Locomotive CO., LTD recently signed an agreement for buying 1,200 high power 6-axle alternating current electric locomotives valued at 30 billion yuan (US$4 billion) from the latter. Aug 20, 2007
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Hyundai Mobis to Spend $55.6 Million to Expand US Plant
August 17, 2007 -- Hyundai Mobis Co., South Korea's top auto-parts maker, said Friday it will spend US$55.6 million to expand its production facility in the U.S. state of Alabama. Hyundai Mobis senior vice president Kim Soon-hwa and Alabama Governor Bob Riley recently signed a preliminary contract for the expansion, the South Korean company said. Aug 17, 2007
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Umicore to Buy Delphi Plant
August 17, 2007 -- Belgian metals giant Umicore's $75 million bid to buy Delphi Corp.'s automotive catalyst plant at the Tulsa Port of Catoosa was approved Thursday by a federal bankruptcy judge in New York. It was not known how many of Delphi's 300 local jobs will be retained by Umicore after the acquisition is complete. Company executives, however, previously expressed excitement about expanding Umicore's move into the U.S. catalyst market. Aug 17, 2007
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Romi Announces New CEO
August 17, 2007 -- Industrias Romi S.A., a Brazilian market leader in machine tools, plastic injection molding machines and rough and machined cast iron parts, announces to its shareholders and the market in general that the Board of Directors, at its meeting held on August 16, 2007, elected Mr. Livaldo Aguiar dos Santos to the post of Chief Executive Officer of the Company, this position having been exercised on a cumulative basis by Mr. Americo Emilio Romi Neto, who remains as Chairman of the Board of Directors. Aug 17, 2007
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Spartan Chassis Receives $53 Million Subcontract Orders from BAE Systems
August 16, 2007 -- Spartan Chassis Inc., a subsidiary of Spartan Motors Inc. (SPAR), received $53 million in subcontract orders from BAE Systems to produce advanced tactical vehicles. The Charlotte, Mich., company said it expects to complete the orders by the end of 2007. Aug 16, 2007
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Ford to Sell Mexican Plant to Linamar
August 16, 2007 -- Ford Motor Co., Dearborn, Mich., has agreed to sell its power transfer unit business and a plant in Nuevo Laredo, Mexico, to Linamar Corp., Guelph, Ontario. Financial terms were not disclosed. The operations had been part of Ford's Automotive Components Holdings group, which was formed in 2005 when the automaker reacquired parts businesses from Visteon Corp., Van Buren Township, Mich., as part of a bailout of the former Ford parts business, which was spun off five years earlier. Aug 16, 2007
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New Century Companies, Inc. Announces Second Quarter 2007 Financial Results
August 15, 2007 -- New Century posted revenue of approximately $2.6 million for the quarter ended June 30, 2007, an increase of 13% compared to the approximately $2.3 million for the comparable period of 2006. New Century ended the quarter with approximately $5.3 million of new orders year-to-date, an increase of 60% over orders booked for the same period in 2006. The number of orders in work process remains strong, a trend management believes will continue throughout the year. Aug 15, 2007
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Lear Shuffles Execs
August 15, 2007 -- Lear Corp.'s president and chief operating officer, Douglas DelGrosso, is leaving the auto supplier as the company restructures and pares executive positions to cut costs. Effective Tuesday, Lear Chairman and CEO Bob Rossiter assumed the additional role of president, which includes overseeing the Southfield-based supplier's global business units. Aug 15, 2007
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Profits for Brazil's Embraer Plunge 49 Percent
August 15, 2007 -- Brazil's Embraer, the world's fourth-largest airplane maker, said Wednesday that its second-quarter net profit plunged 49 percent as production costs rose sharply with the hiring of thousands of new employees. Empresa Brasileira de Aeronautica SA earned 79.7 million Brazilian reals (US$39.9 million, €29.2 million) in the March-June period, or 0.11 reals (US$0.06, €.04) per share, compared with 155.8 million reals (US$77.9 million, €57.1 million) or 0.21 reals (US$0.11, €.08) per share in last year's second quarter. Second quarter revenue was virtually flat at 2.2 billion reals (US$1.1 billion, €820 million) compared to the same period last year. Aug 15, 2007
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Smith & Nephew to Close U.S. Plant, Expand in China
August 14, 2007 -- Smith & Nephew , Europe's biggest medical devices firm, said on Tuesday it planned to close its manufacturing operation in Florida, United States, and build a new plant in China. A spokeswoman said around 150 people would be affected by the closure of the plant in Largo, Florida, which is expected to take place during 2009. "Smith & Nephew is purchasing land to provide manufacturing capacity in China and plans for construction of a facility are underway," the British firm said in a statement. Aug 14, 2007
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Delphi to Open New Plant in Morroco
August 14, 2007 -- Delphi Corporation, a world leader in mobile electronics and transportation components and systems technology, is opening a new plant in Morroco, according to El Mundo. Aug 14, 2007
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Italy Plans to Reduce Order for Eurofighter
August 14, 2007 -- Italy is planning to reduce its order for 46 Eurofighters, French daily Les Echos reports Tuesday. Aug 14, 2007
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Dana Posts Q2 Loss of $133 Million
August 13, 2007 -- Dana Corp. has posted a second-quarter net loss of US$133 million amid continuing efforts to restructure under Chapter 11 bankruptcy protection. Dana posted the earnings result, nearly five times the loss suffered in the same quarter last year, a day late in a statement filed on Friday (10 August) with the Securities and Exchange Commission (SEC), explaining that it missed the 9 August filing deadline because it needed additional time to complete the statement due to the complexity of reporting requirements during bankruptcy proceedings. Aug 13, 2007
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TransDigm Acquires Bruce Industries Assets for $35 Million in Cash
August 13, 2007 -- Aircraft parts maker TransDigm Group Inc. has acquired certain unspecified assets from Bruce Industries Inc., a supplier to the aerospace and defense industry, for $35 million in cash. Aug 13, 2007
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Orders Rise at Fastest Rate for a Decade
August 13, 2007 -- Small and medium-sized manufacturers are seeing their domestic orders rising at their highest rate in a decade despite higher borrowing costs, according to new figures. In its quarterly SME survey, the Confederation of British Industry (CBI) said seven per cent more firms said their domestic orders were up rather than down between April and July - the best performance since January 1997. The CBI also said that SMEs firmed better than the sector as a whole. Aug 13, 2007
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ThyssenKrupp in the 3rd Quarter 2006/2007
August 10, 2007 -- The ThyssenKrupp success trend continues unabated. The favorable market environment and above all ThyssenKrupp’s good strategic positioning are paying off. All segments produced a very pleasing performance in the 3rd quarter 2006/2007. Aug 10, 2007
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Timken Bearings Equip Arcelor Mittal Steel Mill
August 10, 2007 -- The Timken Company announced that it is the exclusive supplier of tapered, spherical and cylindrical roller bearings for Arcelor Mittal's new high-capacity hot-strip steel rolling mill in Krakow, Poland. Timken received the $2 million contract from Siemens Metals Technologies, which is building the mill. Aug 10, 2007
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Arthrex to Move Manufacturing to Ave Maria
August 9, 007 -- A Naples-based maker of medical devices will move its manufacturing operations to Ave Maria, bringing hundreds of jobs to the new town that's rising in eastern Collier County. Aug 09, 2007
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Hardinge Increases Earnings by 99% over Second Quarter 2006
August 9, 2007 -- The company produced net income of $6.0 million during the second quarter of 2007, or $0.57 per diluted share, compared to the $3.0 million, or $0.34 per diluted share, it earned in the second quarter of 2006. Aug 09, 2007
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Semp Toshiba to Manufacture White Line Appliances
August 9, 2007 -- Semp Toshiba, known as a manufacturer of TV sets, radios and DVD readers would start the local manufacturing of white line appliances, cellular handsets and GPS devices, as announced by president Afonso Hennel and the Toshiba CEO Atsutoshi Nishida. Aug 09, 2007
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Delphi's Second Quarter 2007 Results
August 8, 2007 -- Delphi's net loss reflects a charge of $332 million recorded in the second quarter of 2007 for its current estimate of liability. Aug 08, 2007
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Autoliv Continues its Consolidation Strategy
August 8, 2007 -- Autoliv announced plans to close its Madisonville Kentucky plant, which produces seat belt products for the North American market. Aug 08, 2007
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Steel Plant to Be Built in Vietnam
August 8, 2007 -- Shengli Investment and Development Ltd Co will build a US$130 million steel processing plant in northern Thai Binh province. Aug 08, 2007
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ArvinMeritor Says Sells European LVA Unit
August 7, 2007 -- ArvinMeritor Inc. said it sold its Light Vehicle Aftermarket European exhaust operations to Klarius Group Ltd., affecting 1,000 jobs. Aug 07, 2007
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Toyota Targets Global Production of Over 10 Million Vehicles
August 7, 2007 -- Toyota is targeting global production of 10.4 million vehicles next year, a major business daily reported Tuesday. The Japanese automaker, which is on pace to beat General Motors Corp. as the world's biggest automaker, declined to comment on the report. Aug 07, 2007
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Abbott President to Retire
August 7, 2007 -- Abbott Laboratories announced Aug. 3 that Richard Gonzalez, president, chief operating officer and member of the board, plans to retire after a 30-year career with the company. Aug 07, 2007
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Stent Slowdown Spurs SurModics
August 6, 2007 -- As revenue linked to sales of drug-coated stents continues to decline, Eden Prairie-based SurModics Inc. announced another deal aimed at diversifying the company. Aug 06, 2007
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Spartan Motors Unit Gets $28 Million Chassis Components Subcontract
August 3, 2007 -- Spartan Chassis Inc., a unit of automotive chassis maker Spartan Motors Inc., said it received a $28 million subcontract from a unit of General Dynamics Corp. to supply components to produce mine resistant vehicles. Aug 03, 2007
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Gildemeister Surpasses Expectations in Second Quarter
August 3, 2007 -- Gildemeister, the German manufacturer of machine tools, surpassed both its own targets and the expectations of the market in the second quarter. For the first half of 2007, the group registered turnover of 709.2m euros, up 21 per cent on the same period of last year. Aug 03, 2007
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DJ Komatsu Mulling Building Russia Construction Equipment Plant
August 3, 2007 -- Komatsu Ltd. said Friday it is considering building a plant in Russia to make excavators, as Russia's economic growth continues to boost demand for construction equipment. If the Russian economy continues to grow at its current pace, the construction equipment market there will likely be large enough around 2010 or 2011 for Komatsu to benefit from local production, a company spokesman said. Aug 03, 2007
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Auto Suppliers Find their Prosperity Overseas
August 2, 2007 -- Although U.S.-based auto suppliers aren't showing uniform gains in their quarterly earnings, the results show that they are showing promise - and in some cases prospering - by moving major operations overseas. Continued growth in Asia and other markets beyond North America helped TRW Automotive Holdings Corp. report a 7 percent increase in second-quarter net income on Wednesday. Quarterly earnings rose to $97 million, or 94 cents a share - beating Wall Street's expectations. Aug 02, 2007
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Lear Reports 2Q Profit as It Reduces Costs
August 2, 2007 -- Automotive parts supplier Lear Corp., whose shareholders recently rejected a $2.9 billion buyout bid led by billionaire investor Carl Icahn, said Thursday it recorded a profit in the second quarter as its cost-cutting efforts more than offset the impact of lower revenues. The Southfield-based maker of automotive seating and electrical distribution systems earned $123.6 million, or $1.58 per share, in the three months ended June 30 versus a loss of $6.4 million, or 10 cents per share, a year ago. Aug 02, 2007
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Nissan's Catalyst Breakthrough
August 2, 2007 -- Nissan said it has developed a new catalyst for petrol-powered cars that uses half the amount of precious metals used in existing products. This new technology, developed as part of the Renault-Nissan Alliance, results in no changes in the performance despite using a significantly less amount of precious metal. Aug 02, 2007
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Sharp to Build World's Biggest LCD Panel Production Center
August 1, 2007 -- Sharp Corp. on Tuesday unveiled plans to construct the world's largest LCD panel production hub, which will be capable of churning out 72,000 large substrates a month during peak operation. The manufacturing complex in Sakai, Osaka Prefecture, will be built on vacant land adjacent to Nippon Steel Corp.'s Sakai works. At 127 hectares, the property, which the manufacturing giant will purchase from Nippon Steel, is nearly four times the size of its key Kameyama facility in Mie Prefecture. Aug 01, 2007
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GM Posts 2Q Profit of $891 Million
August 1, 2007 -- General Motors Corp. posts a second-quarter net income of $891 million that came largely from overseas operations, along with $520 million in charges associated with the bankruptcy reorganization of Delphi Corp. Rival Ford Motor Co. last week posted its first quarterly profit in two years at $750 million, although the company warned it had not turned the corner to consistent profitability. Aug 01, 2007
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Auto Supplier Visteon Reports $67 Million Loss in 2Q
August 1, 2007 -- Visteon Corp. on Wednesday reported a net loss of $67 million in the second quarter as it continued a multiyear restructuring plan and grappled with production cuts by North American automakers, including its largest customer, Ford. The loss compared with net income of $50 million in the same quarter last year. The Van Buren Township-based auto parts maker lost 52 cents per share for the April-June quarter, compared with a gain of 39 cents per share in the same period a year ago. Ten analysts polled by Thomson Financial expected a loss of 51 cents per share. Aug 01, 2007
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