Manufacturing

Blackland Aerospace, LP, the aerospace component manufacturing platform of Dallas based private equity firm, Blackland Group, LLC, has acquired Lewis Machine Company.

Based in East Hartford, Connecticut, Lewis Machine specializes in manufacturing complex precision-machined components for clients in the commercial and military jet engine, airframe, missile and power plant industries.

Pennsylvania Governor Tom Corbett today cut the ribbon on Pratt Industries' new corrugated box plant, a facility that will bring at least 125 new jobs to Lehigh County.

The company established the new plant in Macungie to service its northeast United States customers. It will receive rolls of 100-percent recycled paper to convert into boxes and customized point-of-sale materials.

Economic activity in the US manufacturing sector expanded in April for the 33rd consecutive month, according to the latest Manufacturing ISM Report On Business.

The Institute for Supply Management index of manufacturing activity rose to 54.8 last month, from 53.4 in March. An index figure above 50 indicates growth. The ISM's measure of employment in the sector also rose to a nine-month high.

Horizon Milling announced its intention today to invest in its Saginaw flour milling facility, the largest flour mill in Texas, to enhance milling efficiencies and capabilities.

Pending civil and regulatory approval, the project is slated to begin this summer and be completed in summer 2013.

Ford Motor Company has reported 2012 first quarter pre-tax operating profit of $2.3 billion, and net income of $1.4 billion, led by a strong performance in North America.

The overall results are down from 2011 first quarter pre-tax operating profit of $2.8 billion, and net income of $2.6 billion, partly due to weaker economic conditions in Europe, and partly due to tax considerations and special charges, such as buyouts of hourly workers in the US in accordance with the 2011 UAW agreement.

German car manufacturer Daimler has reported a steep rise in its quarterly profits, boosted by record sales of Mercedes-Benz cars.

The company’s net profit for the first quarter of the year increased by 20 per cent to €1.42 billion, with revenue rising nine per cent to €27 billion.

Raleigh, one of the UK’s best-known brands, has been sold to Netherlands-based Accell Group for €60 million.

Accell said the acquisition of Raleigh adds well-known global brands to its portfolio, further strengthening its position in North America and the UK in the markets for bicycles and bicycle parts & accessories.

Anglo American has announced the sale of Scaw South Africa, completing its divestment of the Scaw Metals Group.

The company has sold Scaw South Africa to an investment consortium led by the Industrial Development Corporation (IDC) of South Africa, Izingwe Holdings, Shanduka Resources and the Southern Palace Group of Companies.

China espouses the concept of balance and in this it has a natural partner in Nestlé, a company that is finding its established philosophy of shared value and localisation appreciated in the world’s fastest changing society.

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.