Interesting engineering news and general interest to get you through the week. » Latest Engineering News » Business and FinancialBusiness and Financial Engineering is fun but at the end of the day you need money with which to carry out your activities. Here we take a look at the news behind the wheeling and dealing that goes on in this industry. Business and financial engineering news really does make the world go round.
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Clipped to the Drawing Board by Ryan
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The majority of Canadian manufacturers responding to a new Deloitte survey paint a positive picture of their experiences with the North American Free Trade Agreement (NAFTA). Yet they struggle to remain competitive globally as the lack of competitiveness of production activity in Canada remains the industry's Achilles heel.
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Thursday 26 June, 2008 06:36 AM |
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Clipped to the Drawing Board by Dave Ellery
Saudi Basic Industries Corporation (SABIC) and China Petrochemical Corporation (SINOPEC) signed on Saturday, June 21, 2008 in Jeddah, a strategic cooperation agreement to expand the scope of partnership at Tianjin industrial complex, China, currently under construction.
The agreement signed during the visit of Chinese Vice President Xi Jinping is designed to expand the heads of agreement (HOA) signed by the two companies on Jan 31, 2008, whereby SABIC will have 50% of the Tianjin complex joint venture together with a feasibility for adding a new product (polycarbonates) by using raw materials produced at the complex based on SABIC Innovative Plastics technology.
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Monday 23 June, 2008 06:15 AM |
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Clipped to the Drawing Board by Administrator
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Siemens VAI is reorganizing its Russian business. “The share of Russian value added to our projects in the iron and steel industry will more than treble in the next two years”, Werner Auer, CFO of international plant builder Siemens VAI, announced to the press in Yekaterinburg on Thursday. “By acquiring other companies, establishing joint ventures and using our own resources, we intend to expand our network for engineering, plant and maintenance services in order to be closer to the customer”, said Andreas Lemp, who is responsible for business in the Russian iron and steel industry
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Saturday 21 June, 2008 02:32 AM |
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Clipped to the Drawing Board by Administrator
Despite intense global competition, manufacturers consider North America the most desirable region for expansion over the next three years, according to a new survey released today by Deloitte.
The survey, Made in North America, targeted top-tier executives of manufacturing companies with North American operations
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Thursday 19 June, 2008 04:08 PM |
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Clipped to the Drawing Board by Sean
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State officials gave approval Tuesday to tax incentives for projects proposed by nine companies constituting more than $179 million in investment and more than 3,900 new jobs.
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Thursday 19 June, 2008 06:01 AM |
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Clipped to the Drawing Board by Tony Elmasri
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GE's announcement a week ago that it would accept offers for its appliances business marked the death-knell of yet another US manufacturing business, one among so many in US manufacturing's long and seemingly unstoppable downtrend since 1980.
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Wednesday 18 June, 2008 06:27 PM |
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Clipped to the Drawing Board by Administrator
The weak U.S. economy -- reflected in the nation's currency -- does offer a bit of an upside.
The U.S. dollar has lost so much value compared with the euro that European auto parts makers -- and even automakers -- are moving some of their purchasing, engineering and manufacturing to the United States, or countries with currencies closely tied to the U.S. dollar.
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Wednesday 18 June, 2008 08:10 AM |
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Clipped to the Drawing Board by Dave Ellery
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2007 was yet another successful year for international trade in machines and equipment which grew by 11.7%. “German exports increased by 10.6% ”, said Manfred Wittenstein who is chairman of the German association for mechanical and plant engineering (VDMA). This places Germany on top of the list of the world’s most important exporting countries of such products.
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Tuesday 17 June, 2008 10:57 PM |
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Clipped to the Drawing Board by Sean
PEORIA — Caterpillar Inc . announced today it will embark on a multi-year, $1 billion expansion of some of its key Illinois factories, including East Peoria and Mossville, while also undergoing some reorganization of those facilities.
In an early morning news release, the company said the decision to invest in its Illinois factories over the next two years demonstrates confidence in its ability to compete globally from a strong U.S. manufacturing base.
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Saturday 14 June, 2008 06:55 AM |
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Clipped to the Drawing Board by Administrator
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Scottish polymer engineering specialist Devol Engineering Ltd has become a member of the James Walker Group, following the acquisition of 59 per cent of Devol’s equity. The existing management team holds the remaining 41 per cent.
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Tuesday 10 June, 2008 04:50 PM |
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Clipped to the Drawing Board by Administrator
If we are lucky, the current electricity crisis will mark the end of a 15-year battle to privatise electricity production . But it is a crisis that has already cost us dearly.
It cost lives. Apart from a few deaths in hospitals as a result of power cuts, far more have been caused by poverty, which has been aggravated by the cuts.
It cost jobs. One reason poverty has increased is that there have been direct job losses in mining and manufacturing, and indirect losses as less money circulated in a stalled economy.
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Monday 9 June, 2008 06:36 AM |
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Clipped to the Drawing Board by George Tan
After a long slump, the world's second-largest economy now shows a lot of promise, reports Chuang Peck Ming
Japan's economy is slowing but this should not turn off investors.
Chung Tze Khin, regional director for North Asia and the Pacific at International Enterprise (IE) Singapore, sees "a silver lining" in these challenging times for the Japanese economy such that Singapore companies can move in to make real gains.
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Monday 9 June, 2008 02:34 AM |
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Clipped to the Drawing Board by Administrator
Wholesaler Craig Valentine, of Perrysburg, buys thousands of cordless drills and other power tools from Chinese manufacturers.
But as the Asian nation's cost advantages erode as a result of skyrocketing raw material prices, rising shipping expenses, and strengthened labor laws, the president of Clarke Power Products Inc. has begun to turn to an unfamiliar source: U.S. manufacturers.
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Saturday 7 June, 2008 10:24 AM |
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Clipped to the Drawing Board by Tony Elmasri
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Economic slumps are vicious things , and not just because they cause financial pain. They make the more comfortable parts of the world mean and selfish. For proof, just look at the debate in western Europe about enlargement of the EU, and the sour turn it has taken even in countries like Britain, which was the only big EU country to open its labour markets to workers from ex-communist nations when they joined the union in 2004.
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Thursday 5 June, 2008 10:52 PM |
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Clipped to the Drawing Board by Pat Sheen
OTTAWA — The contrasting reality of a commodities bubble and manufacturing bust has more than turned Canada into a land of two distinct economies, it may be sowing the seeds of a hard crash if current trends continue, say economists and industry analysts.
So far the economy as a whole has experienced relatively minor pains from the ongoing manufacturing crisis, which reached a new low Tuesday with the announcement that General Motors is closing its truck plant in Oshawa, phasing out as many as 2,600 jobs.
The gross domestic product retreated by 0.3 per cent for the first time in five years during the first quarter, but as Prime Minister Stephen Harper and Finance Minister Jim Flaherty point out, more Canadians are working today than ever before.
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Thursday 5 June, 2008 06:49 PM |
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Clipped to the Drawing Board by Ali Hamoud
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“Made in America.” The imprint means innovation, high quality, safety and reliability. So why should companies even consider exchanging that stamp for “Assembled in USA” and components manufactured in other nations? Not so long ago, the main reason was to gain lower prices for labor-intensive goods. That’s still a good reason, but there are several other circumstances in which “Made in America” isn’t the best choice. Here are ten, culled from the experience of Mark Thompson, global commodity leader at Pioneer Hi-Bred International, an international leader in plant genetics.
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Thursday 5 June, 2008 02:36 PM |
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Clipped to the Drawing Board by Administrator
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Some years ago I wrote a paper called ‘A ‘New’ World Oil Market’ (2004), which I presented at a conference somewhere. The intention of that paper was to argue that the world oil market was in the process of a rapid transition, and the combination of resource scarcity and accelerating demand (relative to supply) would cause a fundamental shift in the market. I said in that paper essentially what I am going to say here, only at that time I couldn’t prove a few of the things that needed proving. All that has changed: it changed when the price of oil reached $100/b and continued to rise, because with that price and the present movements of global oil supply and demand, proofs are no longer necessary. This time the wolf is here!
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Thursday 5 June, 2008 10:33 AM |
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Clipped to the Drawing Board by Pat Sheen
While the CIPS/NTC Purchasing Managers’ Index reported a halt in output production, EEF gained more positive results from its Engineering Outlook Report, sponsored by Grant Thornton.
This survey identified a tenth consecutive quarter of growth, with evidence of an increase in domestic orders, which rose from +2 per cent to +4 per cent, and an output balance of +16 per cent.
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Wednesday 4 June, 2008 12:05 AM |
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Clipped to the Drawing Board by Administrator
The record price of crude oil is adversely affecting the fortunes of several plastic manufacturing firms in the UAE and the GCC region as their raw material costs go up to unprecedented levels, pushing down their margins.
Manufacturers of various plastic products – packaging materials for food and beverages, plastic pipes and fittings, plastic bags, footwear, furniture, household plastic items, luggage and other plastic items – use various forms of polymer and polythene resin, which are direct byproducts of the petroleum industry.
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Tuesday 3 June, 2008 10:12 PM |
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Clipped to the Drawing Board by Dillon Smatcher
A week of dismal economic news has left British families feeling under greater pressure than ever
Filling up her Ford Focus at a Southampton petrol station on Friday afternoon, Deborah James became the victim of a modern phenomenon: pump rage. The 31-year-old marketing assistant had just spent £55 on something that would have cost her less than £45 just a few months ago.
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Monday 2 June, 2008 12:32 AM |
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Clipped to the Drawing Board by George Tan
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Quantum Fuel Systems Technologies Worldwide , Inc. today announced that its German solar partner, Asola Advanced and Automotive Solar Systems GmbH, has won a $17 million contract from Sunworx GmbH, for the supply of high-efficiency silicon photovoltaic solar modules. Sunworx, which is one of the leading solar system suppliers in Germany, will take delivery of these modules in 2008.
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Saturday 31 May, 2008 04:45 AM |
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