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Machine tool market up more than 50 percent in March
IndustryWeek    Share    Share on FacebookTwitterShare on LinkedinE-mail
March U.S. manufacturing technology consumption totaled $511.15 million according to the American Machine Tool Distributors' Association and The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was up 57.6 percent from February and up 99 percent when compared with the total of $256.88 million reported for March 2010. With a year-to-date total of $1,203.57 million, 2011 is up 118.6 percent compared with 2010. More

National Association of Manufacturers economic report
NAM News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A number of economic reports recently echoed similar findings from previous weeks. Most of the figures from April, for instance, show declines in manufacturing activity, with growth below the rapid paces in prior months. Surveys from federal reserve banks in Kansas City, Kan., and Richmond, Va., reported declines in new orders and shipments among manufacturers. Supply chain disruptions account for much of this decline, particularly for durables. The Census Bureau reported that durable goods orders fell 3.6 percent in April, with the largest declines in transportation. More

Timken to acquire Philadelphia Gear
Cecil Whig    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Timken Company recently announced an agreement to acquire the assets of Philadelphia Gear Corp., a leading provider of high-performance gear drives and components with a focus on service capabilities in the industrial and military marine sectors. Based in King of Prussia, Pa. Philadelphia Gear had 12-month sales through March of approximately $85 million. More

Schaeffler receives PACE Award for lightweight balancer shaft with rolling bearing supports
Schaeffler Group    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Schaeffler's lightweight balancer shaft with rolling bearing supports has won the PACE Award in the "Product" category. Presented annually since 1994 by Automotive News magazine in cooperation with audit and consulting firm Ernst & Young and the Transportation Research Center, the Pace Award honors outstanding product innovations of automotive suppliers. More

Manufacturers more optimistic about 2011
ThomasNet News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Purchasing and supply executives in the United States expect the nation's economy to continue to grow throughout the remainder of 2011, despite rising materials prices, new findings indicate. Manufacturers in the U.S. have a more optimistic outlook for sales, spending and hiring in 2011, yet prices for materials are seen climbing further, according to new findings from the Institute for Supply Management. In its spring 2011 semiannual economic forecast, ISM reports that purchasing and supply executives anticipate sales will rise 7.5 percent in 2011, up significantly from 5.6 percent forecast in December 2010. More

Biden trumpets resurgent US auto industry
The Associated Press via Detroit Free Press    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Vice President Joe Biden recently credited the Obama administration's intervention for the American auto industry's recovery from "the brink of extinction" and pointed to Chrysler's early repayment of the federal loan that saved it from disaster. "This announcement came six years ahead of schedule — and just two years after Chrysler Corp. emerged from bankruptcy," Biden said in the administration's weekly radio and Internet address. "It's a sign of what's happening throughout the American automobile industry." More

US Chamber praises senate action to move forward with PROTECT IP Act
Global Intellectual Property Center    Share    Share on FacebookTwitterShare on LinkedinE-mail article
David Hirschmann, president and CEO of the U.S. Chamber of Commerce's Global Intellectual Property Center, recently released the following statement commending the Senate Judiciary Committee's unanimous passage of the Preventing Real Online Threats to Economic Creativity and Theft of Intellectual Property Act. More

Producer's group: China steel's demand may rise as much 25 percent by 2015
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail
Steel demand in China, the world's biggest consumer, may rise by as much as a quarter by 2015 compared with demand last year, according to a projection from the China Iron & Steel Association, which represents producers. Consumption may increase between 12 percent and 25 percent from the level in 2010 to as much as 750 million metric tons in 2015, Luo Bingsheng, deputy party secretary of the association, which is known as CISA, said at a conference in Shanghai, China. More

Businesses expand less than forecast, Chicago index shows
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Business activity in the U.S. cooled more than forecast in May, a sign manufacturing may be leveling off after leading the recovery in the world's largest economy. The Institute for Supply Management-Chicago Inc. said its business barometer fell to 56.6 in May, the lowest since November 2009, from 67.6 in April. Figures greater than 50 signal expansion. Economists forecast the gauge would fall to 62, according to the median estimate in a Bloomberg News survey. More

Energy prices finally cool off
The Associated Press via    Share    Share on FacebookTwitterShare on LinkedinE-mail article
After surging to the highest levels since 2008, oil dropped 10 percent in May, the biggest monthly decline in a year. Pump prices slipped nearly 4 percent. The May decline gave consumers and businesses a bit of a breather from high fuel prices, though oil was climbing again as the month ended. Here's a look at how commodities fared in May, and where they may be headed. More

Linking supply chain performance to a firm's financial performance
Supply Chain Management Review    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Supply chain managers make decisions and use organizational resources that eventually impact the financial outcomes of the firm. To do so effectively, they need to link the results of supply chain decisions to the financial goals and related metrics of the company. By creating a set of linkages between the work that is being performed and the financial outcomes of the firm, the supply chain function can gain organizational visibility. More

General Motors to invest $88 million on Michigan Cadillac plant
The Associated Press via Google News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
General Motors says it will invest $88 million in a Cadillac factory in Lansing, Mich. The company says the investment won't create any new jobs but will equip the plant to make a new model. The factory now has 971 workers and makes the Cadillac CTS sports sedan. GM wouldn't identify the new model, but the CTS is due to be revamped soon. More

Toyota production to recover faster than expected
The Associated Press via Chicago Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Toyota production in Japan will recover to 90 percent of pre-disaster levels in June, faster than the world's biggest automaker had projected and highlighting its power to bounce back from the supply disruptions caused by the March earthquake and tsunami. The disasters in northeastern Japan had damaged the plants of key parts suppliers, disrupting production at all Japanese automakers. Even with production increasing, some vehicle models could be in short supply for months. More
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