The Institute for Supply Management reported Monday that its gauge of manufacturing activity rose to a reading of 60.8% last month, 2.1 percentage-points above the January level of 58.7%.
A Toyota spokesman would not answer questions about whether the SUVs should be parked outdoors until the matter is resolved, but said the company is cooperating in the probe.
The executive order will cover U.S. supply chains for large-capacity batteries, pharmaceuticals, critical minerals and semiconductors that power cars, phones, military equipment and other goods.
Allison Transmission’s fourth-quarter financial performance exceeded analysts’ revenue expectations but fell short of profitability forecasts.
Productivity in Indiana’s most advanced industries—including agricultural chemicals, medical equipment and adhesives production—has lagged behind the national average for the past 10 years and the gap is widening, according to a new Brookings Institution study.
Canada’s Bombardier announced Thursday that it will stop production of the Learjet later this year to focus on more profitable planes. The iconic jet was among the first private luxury planes.
For workers at GM and other automakers, the future could be perilous. The more environmentally focused plants of the future will need significantly fewer workers, mainly because electric vehicles contain 30% to 40% fewer moving parts than petroleum-run vehicles.
Tony Satterthwaite, president and COO since October 2019, will move into the new position of vice chairman, while Jennifer Rumsey, president of the company’s Components business, will succeed Satterthwaite as president and COO.
The Indiana-based manufacturer said sales in North America declined 21% last year, but its sales in China reached record levels, up 25% from the previous year.
Eric Stam, co-founder and CEO of the Carmel-based Crossroads Distillery, started diversifying his alcohol production facility’s operations in April to launch a cleaning solution fundraising business earlier this week.
The Institute for Supply Management’s survey of businesses showed that 16 of 18 manufacturing industries showed growth in January. The contracting industries were printing and petroleum.
De La Fontaine Industries announced Wednesday that it plans to open a plant in Indianapolis that will employ up to 20 workers by the end of 2023.
The ISM manufacturing index stood at 60.7 in December, up from 57.5 in November and 47.8 in December 2019. A number above 50 indicates growth in the manufacturing sector, while a number below 50 indicates contraction.
The first product for the new venture called BrightDrop will be an electric-powered wheeled pallet that will take goods from the warehouse to trucks and from trucks to destinations. Then GM will roll out a clean electric delivery van.
CEO Michael Doar said the company was encouraged by “growing demand we saw in certain markets in the second half of the fiscal year, particularly in Europe and Asia.”
The U.S. economy collapsed from April through June but since that time manufacturing has posted solid gains, while the services sector, which includes restaurants, bars and the travel industry, has been harder hit.
Safeguards manufacturers put in place to try to protect workers have helped plants nearly keep up with last year’s production levels. But with the virus spiking in communities that surround the plants, industry and union officials say it may be impossible to keep the virus out of factories.