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News - Page 362
Rio Tinto Alcan CEO's remuneration cut 27 per cent in 2012 on weak results
- Mar 18, 2013
- Metalworking
- News Release
MONTREAL -- Rio Tinto Alcan chief executive Jacynthe Cote's total remuneration was cut by nearly 27 per cent last year to C$3.1 million due to weak performance of the aluminum division and its US$11-billion writedown, according the London-based miner's annual report. The 54-year-old Quebec native's...
Airbus, Indonesian airline sign $24 billion contract, biggest ever for aircraft maker
- Mar 18, 2013
- Metalworking
- News Release
PARIS -- Airbus signed its biggest deal ever on Monday, an order from Indonesian's Lion Air worth (euro)18.4 billion ($24 billion) that President Francois Hollande said should inspire the struggling French economy and all of Europe. The CEOs of both companies signed the contract for 234 planes in...
US factory output rises in February, fueled by jump in auto production
- Mar 15, 2013
- Automation and Software
- News Release
WASHINGTON -- A strong increase in auto output boosted U.S. factory production last month, the latest sign that manufacturing is helping drive economic growth after lagging for much of 2012. The Federal Reserve says factory output rose a seasonally adjusted 0.8 per cent in February from January,...
Magna founder tours George Brown campus
- Mar 14, 2013
- Fabricating
- News Release
TORONTO – Magna International founder, Frank Stronach visited one of the campuses of Toronto's George Brown College on Thursday, touring the college’s trade facilities. Stronach was at the college to visit the tool and die program, speak to the students about the issues facing the...
Canadian dollar rises amid positive U.S. employment news, mixed commodities
- Mar 14, 2013
- Metalworking
- News Release
TORONTO -- The Canadian dollar was higher Thursday amid mixed commodity prices and economic data. The loonie was up 0.1 of a cent to 97.44 cents US. Statistics Canada reports that Canadian industries operated at 80.7 per cent of their production capacity in the fourth quarter, down slightly from...
PEMA Welding to supply Vancouver’s Seaspan shipyard with equipment
- Mar 14, 2013
- Welding
- News Release
[gallery type="slideshow" ids="95144,95293,95292,95143,95145"] Vancouver’s Seaspan shipyard is adding new welding equipment as part of a $200 million upgrade to the facility. The upgrade was needed after the shipyard won an $8 billion shipbuilding contract from the government in late 2011....
Mazak Canada Assembles New Ontario Sales Team
- Mar 14, 2013
- Management
- News Release
Mazak Corp. Canada, Cambridge, Ont., has assembled a new, sevenmember sales team to support the province’s manufacturing customer base. Among those members are three recently hired sales professionals: Bob Kanarek, Martin Craven, and Darcy Ball. “Ontario has extremely competitive and complex...
Fives acquires machine tool company MAG Americas
- Mar 13, 2013
- Metalworking
- News Release
The French industrial engineering group Fives has acquired MAG Americas, a global supplier of high-performance machining solutions and composite processing. MAG Americas is a subsidiary of the MAG Group, and enjoys a unique position in the high-end segment of large and complex parts machining...
Industrial production across the eurozone down by 0.4 pct in January
- Mar 13, 2013
- Automation and Software
- News Release
Official figures show that industrial production across the 17 European Union countries that use the euro fell by 0.4 per cent in January. Eurostat, the EU's statistics office, added Tuesday that production for durable consumer goods in the eurozone fell by 1.4 per cent, with capital good...
German to replace Andre Navarri as head of Bombardier Transportation
- Mar 12, 2013
- Metalworking
- News Release
MONTREAL -- Bombardier has appointed a German executive with rail and aerospace experience to replace Andre Navarri as president and chief operating officer of Bombardier Transportation, its Berlin-based railway division. Lutz Bertling, 50, who was selected following a global search, takes over the...
Labrador Iron to get $30 million cash as part of pact with Tata Steel Minerals
- Mar 12, 2013
- Metalworking
- News Release
TORONTO -- Labrador Iron Mines Holdings Ltd. and a subsidiary of India's Tata Steel Ltd. have reached a strategic co-operation pact on operations near the Quebec-Labrador border. Labrador Iron has agreed to sell a 51 per cent stake in its Howse iron deposit to Tata Steel Minerals Canada for $30...
Industrial figures stoke concerns over another British recession
- Mar 12, 2013
- Automation and Software
- News Release
LONDON -- British industrial production fell sharply in January, official figures showed Tuesday, raising fears that the country will suffer its third recession in not much more than four years. The Office for National Statistics said industrial production dropped a monthly rate of 1.2 per cent...
CMTS venue to showcase a European design this fall
- Mar 12, 2013
- Metalworking
- News Release
The location of the 2013 edition of the Canadian Manufacturing Technology Show (CMTS) – “back at the airport” – has many in the industry talking of big change for Canada’s national manufacturing event. After 14 years in downtown Toronto, CMTS is returning to The...
Latest developments in high brightness diode lasers and their applications
- Mar 11, 2013
- Welding
- News Release
Within the past couple of years one can see a general trend in high power diode lasers among others towards the highest possible brightness. The product portfolio of TRUMPF high brightness diode lasers with output power < 1kW will be presented. The architecture of these diode lasers, their main...
Fives acquires MAG Americas
- Mar 11, 2013
- Metalworking
- News Release
Thanks to its high innovation track record, it has developed strong relationships within the key and demanding industries it serves, such as aerospace, oil & gas, mining, agriculture and off-road vehicles. In 2012, it displayed a turnover of around $400m, of which 67% was generated in North...
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