The Timken Company held a groundbreaking ceremony today to mark the commencement of work on a $225 million expansion of the Faircrest Steel Plant in Stark County, Ohio.

The investment by the specialty alloy steel and industrial components manufacturer is expected to improve the Faircrest plant's productivity, expand its product range and increase capacity to serve growing demand for Timken specialty alloy steel bars.

Swiss food giant Nestlé has agreed to acquire Pfizer Nutrition for $11.85 billion, it has been announced.

Nestlé said the acquisition would be a strategic fit with its infant nutrition business, given US-based Pfizer Nutrition’s complementary portfolio and strong presence in high-growth markets.

Nestlé described Pfizer Nutrition as a high-quality, high-growth infant nutrition business with strong brands, value-creating and accretive to the Nestlé model.

GE, the largest industrial company in the United States, reported its eighth consecutive quarter of operating earnings growth in Q1 2012.

While total revenue fell 8 percent to $35.2 billion compared with the same quarter of 2011, this year’s figures do not include revenues from NBC Universal, in which a majority stake has been sold to Comcast.

University College Dublin (UCD) has signed a memorandum of understanding with a leading Chinese dairy producer, Dairy United.

The agreement, which is expected to bring about multi-million Euro contracts for products and services, sets out the development of a China-Ireland Agricultural demonstration farm in Hohhot, Inner Mongolia, as well as collaborative research projects, the provision of education and training, and collaboration on creating a trade corridor to facilitate the export of Irish products to Inner Mongolia.

Otis Brazil has won a significant contract to install 21 energy-efficient elevators and escalators at Rio de Janeiro's famous Maracana Stadium, the site of the 2014 FIFA World Cup final championship match and the 2016 Summer Olympics' opening and closing ceremonies.

Otis Brazil, a unit of Otis Elevator Company and United Technologies Corp, also recently won contracts to supply equipment at two other Brazilian World Cup stadiums, the Salvador Arena in Bahia and Pernambuco Arena in Sao Lourenco da Mata.

Norwegian EPC specialist Kvaerner has been awarded an engineering, procurement, construction and management contract for the Shell-operated Ormen Lange/Nyhamna onshore facilities on the west coast of Norway.

The contract, worth NOK 6 billion (excluding options), is a framework agreement for a duration of six years, with options for an additional two-plus-two years.

After a significant gold discovery at Hope Brook in Newfoundland, Castillian Resources is forging ahead with an aggressive drilling programme to extend the resource and take the project forward to the preliminary economic assessment stage. CEO Dr Bill Pearson talks to Gay Sutton about the project’s prospects.

In minerals exploration, some people seem to have a knack for spotting huge potential where others see nothing. Dr Bill Pearson, CEO and president of junior exploration company Castillian Resources, has the knack.

Complex chronic disease has been described as the number one health care challenge of the 21st century: Bridgepoint Health is dedicated to meeting this challenge, and is building a magnificent campus in downtown Toronto.