Construction Equipment Maker Caterpillar Inc Will Shutter Five Plants
Submitted by Apoorva Prasad on Fri, 04/29/2016 - 05:42
Peoria, Illinois based Caterpillar Inc, the maker of machinery and engines said on Thursday that the company will shutter five U. S. plants and trim approximately 820 positions.
The popular construction-equipment maker is cutting back production and employees as a response to continuous drop in demand.
Firearm Manufacturer Smith & Wesson Reported 61 Percent Jump in Revenue for the Third Quarter
Submitted by Jitendra Tiwari on Fri, 03/04/2016 - 09:13
Smith & Wesson Holding Corp, the manufacturers of guns reported a 61 percent jump in its quarterly revenue. In recent times, shootings incidents have fuelled fears of stricter gun laws and the issue is a key topic during the U. S. presidential election campaigns.
Manufacturing Sector Gains in January with Rise in New Orders; Unemployment Claims also Increase
Submitted by Jitendra Tiwari on Fri, 02/26/2016 - 08:54
The manufacturing sector of the U. S had good news in January as new orders for long-lasting manufactured goods climbed most in almost ten months. The broad up pick in demand offered reasons for an optimistic outlook for the demoralized manufacturing sector.
On Thursday, another set of data revealed that new applications submitted for availing unemployment benefits rose in the past week. However, the numbers remained under the levels connected with a tightening labor market. It should help in soothing fears of a recession which worried the stock market investors.
Faraday Future to build a $1bn production plant in Nevada
Submitted by Anil Dayal on Fri, 12/11/2015 - 07:26
California-based electric car start-up Faraday Future (FF) on Thursday announced a decision to build a $1 billion production facility in a suburb of Las Vegas, Nevada. FF, which has yet to build an electric car, was considering four states, including Nevada and California, for its production facility.
Global Market Slowdown Hurts Durable-Goods Orders in the U.S
Submitted by Jitendra Tiwari on Wed, 10/28/2015 - 11:49
The global markets have faced turmoil in recent months with the dollar strengthening and the commodity prices growing weaker. The global growth has been slow and that's restraining U. S. factories. There has been a noticeable divide between the service and the manufacturing sectors in America due to the international turmoil.
Carpet manufacturer Godfrey Hirst New Zealand Worried about Price-hike Risk if Wool Scourers’ Merger Deal Comes Through
Submitted by Apoorva Prasad on Mon, 10/05/2015 - 06:06
A decision of the Commerce Commission which hints towards allowing Cavalier Wool Holdings (CWH) to merge with New Zealand Wool Services International (NZWSI) is worrying Godfrey Hirst New Zealand, the carpet manufacturer. The preliminary view of the takeover of a smaller wool-scouring company by a rival business was given in March.
