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General Motors said Friday that it is boosting production capacity for its new Chevrolet Volt due to strong public interest in the electric car that goes on sale this year.
GM will now have a production capacity of 45,000 vehicles in 2012, up from previous plans for 30,000.
The automaker made the announcement as President Barack Obama toured the Volt production facility in Detroit.
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Heavy-equipment manufacturer Caterpillar Inc. said Friday it will build a parts plant for large mining machines in North Carolina, and it expects to employ about 510 full-time and contract workers in five years.
Construction is scheduled to begin in November on the Winston-Salem factory where workers will machine, assemble, test and paint axle assemblies for large mining machines. Production is expected to begin in the first quarter of 2012. Get the full story »
Chrysler Group LLC said Friday that it will add nearly 900 jobs at a factory in suburban Detroit and spare it from closure. The decision is a show of optimism that consumers will embrace the company’s refurbished midsize sedans.
The jobs will staff a second shift at Chrysler’s assembly plant in Sterling Heights, Mich., just north of Detroit, which makes the slow-selling Dodge Avenger and Chrysler Sebring midsize sedans. Get the full story »
New orders for long-lasting U.S. manufactured goods unexpectedly fell for a second straight month in June, posting their largest decline since August, according to a government report Wednesday that was further evidence economic growth cooled in the second quarter.
The Commerce Department said durable goods orders fell 1.0 percent after a revised 0.8 percent drop in May. Get the full story »
Corn Products International Inc. posted a higher-than-expected quarterly profit, helped by strong volume growth, and raised its 2010 profit outlook.
The company expects a full-year profit of $2.55 to $2.75 per share, compared with its earlier estimate of $2.25 to $2.60 a share. Get the full story »
Toyota Motor Corp. has pushed back plans to build its Prius in the United States by as much as six years, with a top executive saying U.S. production is likely to start only when the best-selling hybrid is remodelled. Get the full story »
Motorola Inc. is facing a lawsuit from a group of former employees alleging that exposure to hazardous chemicals caused birth defects in their children.
The suit, filed last week in Cook County Circuit Court, names 71 plaintiffs. The filing also lists more than 30 children who, according to the suit, suffered injuries as a result of their parents’ exposure to hazardous substances used to make semiconductors. Get the full story »
Diversified manufacturer Dover Corp. posted a second-quarter profit that handily beat expectations on Friday, raised its forecast, and said order rates are running ahead of shipments. Dover, which is based in Downers Grove, reported net earnings of $169.9 million, or 90 cents per share, up from $97.1 million, or 52 cents a share, a year before.
Caterpillar Inc. reported a stronger-than-expected quarterly profit Thursday, and raised its full-year outlook, citing continued strong sales growth in emerging markets. The world’s largest maker of construction and mining equipment posted a second-quarter profit of $707 million, or $1.09 a share, up from $371 million, or 60 cents a share, a year earlier. Get the full story »
From Forbes | A stronger freight market sent Hub Group Inc.’s profit up 15 percent in the second quarter, the logistics and trucking company said Wednesday.
The European Union plans on Wednesday appealed a World Trade Organization ruling that Airbus SAS received $20 billion in illegal government subsidies that unfairly tilted the global aircraft market — to the detriment of Chicago-based Boeing Co. The appeal had been widely expected, and will likely prolong the already long-running dispute between the E.U. and U.S. over government funding to planemakers Airbus and Boeing. Get the full story »
Boeing Co has won U.S. antitrust approval to buy defense manufacturer Argon ST Inc , the Federal Trade Commission said Tuesday.
Boeing said in early June that it would buy Argon for about $775 million to beef up its capabilities in sensors, communications technologies and information management. Get the full story »
Illinois Tool Works Inc reported improved quarterly results Tuesday, driven by especially strong demand for automotive, industrial packaging and welding products. But the results came in a penny per share shy of expectations, pulled down by a higher tax rate than the company had forecast. Get the full story »
Lake Forest-based Pactiv Corp. said Monday it will spend $14.5 million to expand a plant near Moorehead, Minn. that makes egg cartons and carryout containers for restaurants. Pactiv said it will add three new manufacturing lines, allowing it to make molded-fiber carryout containers.
Nissan Motor Co. said Tuesday that a delay in the supply of electronic control units from Hitachi Ltd. that is disrupting production in Japan could also affect its U.S. and Mexico factories.
Japan’s No.3 automaker said Monday it would halt part of its domestic production for three days starting Wednesday after Hitachi said delivery of engine control units was running behind schedule. Production would return to normal next week, it said. Get the full story »
