Eaton Corp., the Cleveland-based maker of motor vehicle parts and aircraft fuel pumps, plans to slash 5,200 more jobs worldwide amid weak demand after already shedding 3,400 workers last year.
The two rounds of reductions represent about 10 percent of the workforce, and the company began notifying employees yesterday, spokeswoman Kelly Jasko said in a phone interview.
Some of the nation's largest auto-parts makers are planning for potential bankruptcy filings, or are scrambling to avoid them, amid uncertainty about Washington's willingness to increase its $17.4 billion bailout plan for Detroit's Big Three auto makers.
Visteon Corp., one of Ford Motor Co.'s biggest parts suppliers, has hired legal and financial advisers to prepare for possible bankruptcy proceedings, said people familiar with the matter. The hirings don't mean a bankruptcy filing is imminent, these people said.
Volvo Buses is to launch the Volvo 9700 in the US and Canada under the Volvo brand, the first time the brand will have been seen on buses in the region in more than 20 years. Volvo Bus Corporation has already substantial operations in North America through its Canadian subsidiaries Prevost and Nova Bus, but is now launching Volvo branded buses in North America to coincide with the UMA coach trade show in Orlando, Florida.
"Prevost offers the most luxurious coaches available in North America today," says Tore Baeckstroem, senior vice president responsible for Volvo Buses' North and South America business area. "By launching the Volvo 9700 in the segment slightly below the Prevost coaches, we foresee good possibilities to further enhance our penetration within tour & charter and line haul traffic."
EVANSVILLE, Ind. -- Accuride Corporation announced Wednesday that its Board of Directors has appointed William M. (Bill) Lasky, Accuride's President and Chief Executive Officer, to the additional role of Chairman of the Board, effective immediately. Lasky succeeds Terrence J. (Terry) Keating, who has tendered his resignation as the Board's Chairman and as a Director effective Wednesday.
"We wish Terry well in his retirement and thank him for his years of service to Accuride's Board of Directors and for his leadership and insight as Accuride's former President and CEO," said Don Johnson, Accuride's Lead Independent Director.
Senator Mark Warner (D-Virginia) on January 19 offered to work closely with manufacturers to forge a “clearly articulated, comprehensive, national competitiveness strategy” in an address to more than 100 manufacturers at the National Association of Manufacturers (NAM) Leadership Luncheon, held in conjunction with the inaugural celebration for President-elect Barack Obama.
Warner said there is a great worldwide race “on for the future” to determine who will lead the 21st century, and that “America has no national plan to get in, and win, that race during a time of transformative change.”
Coca-Cola Enterprises on Friday, Jan. 16, announced plans to deploy an incremental 185 hybrid-electric trucks across the United States and Canada in 2009, bringing their total number of hybrid-electric delivery trucks to 327, the largest such fleet in North America.
Stan Meiburg, deputy regional administrator of the U.S. Environmental Protection Agency, presented CCE with a leadership award on behalf of the Southeast Diesel Collaborative for the company's commitment to hybrid vehicles to reduce diesel emissions. "EPA is proud to recognize the efforts of Coca-Cola Enterprises to improve air quality and protect public health," Meiburg says. "Emissions from diesel engines are a serious public health threat and environmental challenge, and reducing these emissions is a priority for EPA."