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More from Canadian Metalworking
Lear workers approve new contract
- By Canadian Metalworking
- Nov 5, 2012
- Metalworking
- Article
WHITBY, Ont. – CAW members at the Lear facility in Whitby approved a new collective agreement at a meeting earlier on Sunday. The deal was originally reached on October 29, after a two-day long strike, but only just finalized at the recent meeting. Production workers approved the contract by...
Methods Machine Tools introduces new FEELER FT-Series turning centres
- By Canadian Metalworking
- Nov 2, 2012
- Metalworking
- Article
Methods Machine Tools, Inc., has introduced FEELER FT-Series high-performance CNC turning centres featuring a new all-boxway design to increase cutting capacity. “For increased productivity, the new FT-Series design provides customers with exceptional cutting capacity,” said Mr. Paul...
Benteler Steel/Tube to open $900M facility in U.S.
- By Canadian Metalworking
- Nov 2, 2012
- Metalworking
- Article
Caddo, La. – In a decision that will no doubt be welcomed by a weary U.S. economy, Benteler Steel/Tube announced it will build a new hot rolling tube mill in Caddo, Louisiana. The project will be the company’s first U.S. production facility and expected to cost around $900...
Bombardier taking steps to avoid production delays due to Quebec rail plant strike
- By Canadian Metalworking
- Nov 1, 2012
- Metalworking
- Article
MONTREAL – Bombardier says it is taking steps to avoid delivery delays for a series of railway projects, including Toronto and Montreal's subway cars, after workers at its plant in La Pocatiere, Que., launched a strike Thursday. “We are taking all measures to ensure that we deliver on...
Chrysler Canada reports 35th consecutive month over month sales gain
- By Canadian Metalworking
- Nov 1, 2012
- Metalworking
- Article
TORONTO – Chrysler Canada says it sold three per cent more vehicles in October than it did in the same month a year ago, giving the automaker its 35th consecutive month of year-over-year sales growth. Chrysler said vehicle sales totalled 17,504 last month, up from 17,049 in October 2011....
Survey: US manufacturing activity expands for second straight month in October
- By Canadian Metalworking
- Nov 1, 2012
- Metalworking
- Article
WASHINGTON – U.S. manufacturing expanded for the second straight month in October, boosted by growth in new orders and production. The Institute for Supply Management said Thursday that its index of factory activity rose last month to 51.7, up from September's reading of 51.5. A reading above...
Analyst downgrades Bombardier on forecast of weak third quarter results
- By Canadian Metalworking
- Nov 1, 2012
- Metalworking
- Article
MONTREAL – Bombardier is expected to post soft third-quarter results next week, prompting at least one analyst to downgrade his rating for the plane and train manufacturer and trim his share target price. Analysts on average expect that the Montreal-based plane and train manufacturer will...
Steelmaker ArcelorMittal posts $709 million Q3 loss on heels of China slowdown
- By Canadian Metalworking
- Oct 31, 2012
- Metalworking
- Article
LUXEMBOURG – ArcelorMittal, the world's largest steelmaker, slashed its dividend as it slid into a third-quarter loss on the back of a slowdown in China. The company reported Wednesday that it made a $709 million loss during the July-September period in contrast to last year's equivalent...
WIDIA adds to their VictoryTM tooling line
- By Canadian Metalworking
- Oct 30, 2012
- Metalworking
- Article
WIDIA has announced the addition of the M200TM copy mill to the company’s VictoryTM tooling line. The new M200 series can be used for applications in the die and mold, energy, and aerospace industries and is engineered to be used in anything from roughing to semi-finishing applications. The...
US Steel 3Q profit doubles despite revenue drop, economic pressures
- By Canadian Metalworking
- Oct 30, 2012
- Metalworking
- Article
U.S Steel doubled its third-quarter net income as a tax benefit helped balance pressure from price decreases and a challenging global economy. The Pittsburgh manufacturer said Tuesday that it earned $44 million, or 28 cents per share, in the quarter that ended Sept. 30. That compares with $22...
Bombardier could face strikes on two flanks as Quebec rail workers give mandate
- By Canadian Metalworking
- Oct 30, 2012
- Metalworking
- Article
MONTREAL – Bombardier could face strikes in both of its business units as workers at its rail plant in La Pocatiere, Que., have taken a step towards joining Learjet employees in the U.S. on separate picket lines. The strike in Wichita, Kan., has reached four weeks, the longest in the business...
Steelworkers negotiate new deal at Basin Custom Machining
- By Canadian Metalworking
- Oct 30, 2012
- Metalworking
- Article
SUDBURY, Ont. – United Steelworkers (USW) members employed at Basin Custom Machining Ltd. have ratified a new, three-year collective agreement with the Sudbury machine shop. The new contract was ratified October 30 – two days prior to the expiry of the existing collective agreement. Ten...
Ford earns $1.63 billion in 3Q, but record North American results hurt by Europe
- By Canadian Metalworking
- Oct 30, 2012
- Metalworking
- Article
DEARBORN, Mich. – Ford's third-quarter profit eased 1 per cent to $1.63 billion as European losses swamped record North American profits. Ford Motor Co. said Tuesday its per-share net income was 41 cents, unchanged from the July-September period a year earlier. Before special items, including...
Chrysler 3Q profit nearly doubles to $381 million on big US sales gain
- By Canadian Metalworking
- Oct 29, 2012
- Metalworking
- Article
DETROIT – Strong U.S. sales powered Chrysler to a healthy third-quarter profit. The company on Monday reported net income of $381 million, up 80 per cent from $212 million a year earlier. The profit was due mainly to a 13-per cent sales increase in the U.S., where Chrysler does three quarters...
Bombardier employees at La Pocatiere, Quebec plant give union strike mandate
- By Canadian Metalworking
- Oct 29, 2012
- Metalworking
- Article
LA POCATIERE, Que. – Workers at a Bombardier rail plant in La Pocatiere, Que have given their union a strong strike mandate. Local union president Mario Levesque says 96 per cent of ballots cast today supported the move. Levesque says workers have been without a new contract since last...
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