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Cleveland, Ohio Business News
Cleveland Ohio Business News
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Category: Manufacturing    RSS

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Boeing accelerates production of 747, 777 models

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By Associated Press business staff

March 19, 2010, 1:34PM
Both are wide-body planes capable of carrying more than 300 passengers and flying longer routes. Several Asian airlines have ordered the planes, which are also more fuel-efficient than other aircraft models. Full story »

KraftMaid moving headquarters from Middlefield to Michigan

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By Olivera Perkins, The Plain Dealer

March 16, 2010, 6:37PM
The move could affect 327 jobs locally. About 100 customer service positions will remain in Middlefield. Some of the others may transfer to Michigan, but the number has not been determined. Full story »

Industrial production rises 0.1 percent in February

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By Associated Press business staff

March 15, 2010, 9:19AM
Industrial production edged up 0.1 percent in February, beating expectations and marking the eighth straight monthly increase. But the key manufacturing sector produced less, showing that economic recovery is still a ways off. Full story »

Phillips-Van Heusen to buy clothing company Tommy Hilfiger for $3 billion

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By Associated Press business staff

March 15, 2010, 8:34AM
The cash-and-stock deal is valued at about $3 billion and will create one of the world's biggest clothing companies. It includes approximately 1.9 billion euros in cash ($2.6 billion) and 276 million euros ($379.9 million) in Phillips-Van Heusen stock. Full story »

Chrysler's Twinsburg plant surrounded by grim mood

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By Alison Grant, The Plain Dealer

March 11, 2010, 6:34PM
Maynards Industries Ltd. of Canada offered $45.5 million for the 2 million-square-foot plant at an auction in New York on Wednesday. Judge Arthur Gonzalez had to sign off on the deal at a hearing this morning in his courtroom, also in New York, before it could be finalized. Full story »

Obama pushing a new export initiative

By Associated Press business staff

March 11, 2010, 11:03AM
President Barack Obama says doubling exports over the next five years will boost the economy by helping U.S. companies sell their goods and services abroad and creating new jobs at home. Full story »

Canadian liquidator buys Chrysler's Twinsburg plant for $45.5 million

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By Robert Schoenberger, The Plain Dealer

March 10, 2010, 5:17PM
Park Corp. lost its bid to buy Chrysler's Twinsburg stamping plant. The company said it raised its initial $27.5 million bid to $45 million, but another bidder offered more. Full story »

Hawk Corp.'s profit shrinks for fourth quarter, year

By Alison Grant, The Plain Dealer

March 10, 2010, 1:03PM
Hawk Corp., the Cleveland manufacturer of materials used in brakes, clutches and transmissions, said today its fourth-quarter profit fell by a third, to $1.6 million, or 18 cents a diluted share, from $2.4 million, or 26 cents a share, in the final three months of 2008. For the year, Hawk (AMEX: HWK) reported a profit of $6.4 million, or 73 cents a diluted share, a decrease of 69 percent from 2008's profit of $20.8 million, or $2.21 per share. Full story »

Hawk Corp. reports fourth quarter income off a third from a year earlier

By Alison Grant, The Plain Dealer

March 10, 2010, 11:58AM
Hawk Corp. said its fourth quarter net income fell by a third from a year earlier, to $1.6 million, or $0.18 per diluted share. Income in the 2008 fourth quarter was $2.4 million, or $0.26 per diluted share. Full story »

Park-Ohio loss narrows in fourth quarter as sales fall

By Robert Schoenberger, The Plain Dealer

March 09, 2010, 2:25PM
Park-Ohio Holdings Corp., the Cleveland logistics and manufacturing company, today reported a profit of $205,000, or 2 cents a share, in the final three months of last year, an improvement from a loss of $120 million, or $10.96 a share, in 2008's fourth quarter.  Full story »

Second company bids on Chrysler's Twinsburg stamping plant

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By Robert Schoenberger, The Plain Dealer

March 08, 2010, 6:00PM
At least one rival bidder has made an offer on Chrysler's Twinsburg Stamping Plant. Cleveland's Park Corp. made its $27.5 million bid last month.  Full story »

Voting machine maker must sell some assets, Justice Department says

By Associated Press business staff

March 08, 2010, 5:05PM
The Justice Department says it is requiring the biggest voting machine company in the country to sell off key assets following a merger. Full story »

Toyota schedules Webcast to dispute critic who blames electronics for sudden acceleration

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By Associated Press business staff

March 08, 2010, 8:30AM
Toyota Motor Corp. plans to try to undercut suggestions that its electronics systems caused the sudden acceleration problems that led to the recall of more than 8 million vehicles. The automaker will host a Webcast at 1 p.m. EST today during which it will seek to debunk a critic who claims faulty gas pedals did not cause the sudden acceleration. Full story »

GE's CEO declines bonus for second year

By Associated Press business staff

March 05, 2010, 2:53PM
General Electric Co. said Friday that Chief Executive Jeffrey Immelt did not receive 2009 bonus, the second straight year he gave up extra pay as the industrial and financial conglomerate struggled with one of its worst years on record. Full story »

How to cash in on Ohio's appliance rebates

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By Janet Cho, The Plain Dealer

March 05, 2010, 12:00PM
Ohio's Energy Star appliance rebates are coming in 20 days. And when they're gone, they're gone. Ohio only has 89,335 rebates available for the entire state, worth nearly $10.5 million. Rebates are first-come and first-served.  Full story »
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