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Bankrupt automotive supply giant Delphi Corp., Troy, Mich., has agreed to accept $3.4 billion in financing from a private equity group led by Appaloosa Management LP and Cerberus Capital Management LP.
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Ford Motor Co. sources have confirmed that Magna International Inc., Aurora, Ontario, has won an order to be a second source of frames for the automaker’s next generation of F-150 pickup trucks, taking business from struggling Dana Corp., Toledo, Ohio.
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Despite playing down expectations, Treasury Secretary Henry Paulson came under fire for a lack of progress during his recent trip to China.
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Truck and engine manufacturer Navistar International Corp., Warrenville, Ill., said its steel and precious metal costs had increased $185 million in the first 10 months of this year, while warning that the company will be delisted by the New York Stock Exchange after missing deadlines for financial reporting.
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Despite playing down expectations, Treasury Secretary Henry Paulson came under fire for his lack of progress on his recent trip to China.
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U.S. machine tool consumption totaled $368.6 million in October, down 9.9 percent from a six-and-a-half-year high of $409.0 million in September but up 41.4 percent from $260.6 million in October last year, according to a joint report by the American Machine Tool Distributors’ Association, Rockville, Md., and the Association for Manufacturing Technology (AMT), McLean. Va.
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Bernard Kleiman, a longtime attorney and the United Steelworkers union’s chief steel industry negotiator, died Wednesday of cardiac arrest.
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Executives of General Motors Corp. and supplier and former subsidiary Delphi Corp. are expecting further delays in efforts to wrap up labor deals and the Chapter 11 reorganization of Delphi.
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FreightCar America Inc., Chicago, has delivered its 100,000th aluminum rail car to a customer, 20 years after the company unveiled its first aluminum-sided coal gondola.
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Automotive parts supplier Dana Corp., which is operating under Chapter 11 bankruptcy protection, has named four of eight plants it plans to close in the next two years. Further closures are expected to be finalized next year.
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Quanex Corp., Houston, has agreed to buy the Atmosphere Annealing Inc. subsidiary of Maxco Inc., Grand Ledge, Mich.
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More than a dozen after-fabrication galvanizers have banded together to form the Independent Galvanizers Cooperative (IGC) in an attempt to protect small, independent companies from the current wave of consolidation in the metals industry.
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Applications for the third year of Ferrous Metallurgy Education Today (FeMet) scholarships are being accepted through March 2, the American Iron and Steel Institute (AISI), Washington, and the Association for Iron and Steel Technology (AIST), Pittsburgh, said.
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Samuel, Son & Co. Ltd., Mississauga, Ontario, is moving into the western United States with the acquisition of an engineered metals group known as EMG from parts manufacturer Esco Corp., Portland, Ore.
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Samuel, Son & Co. Ltd., Mississauga, Ontario, is moving into the western United States with the acquisition of an engineered metals group known as EMG from parts manufacturer Esco Corp., Portland, Ore.
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A group of automakers is making one last push to convince the U.S. International Trade Commission (ITC) to end duties on imports of corrosion-resistant steel.
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Metal components manufacturer Precision Castparts Corp., Portland, Ore., has agreed to purchase GSC Foundries Inc., a privately held company making aluminum and steel structural investment castings in Ogden, Utah, and Saltillo, Mexico.
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A consortium of the Big Three automakers has issued a $15-million technology development contract for a lithium iron phosphate battery to A123Systems, a Watertown, Mass.,-based nanoscale electrode technology company.
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A consortium of the Big Three automakers has issued a $15-million technology development contract for a lithium iron phosphate battery to A123Systems, a Watertown, Mass.,-based nanoscale electrode technology company.
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Steel and manufacturing groups are celebrating the passage of a bill that will allow for increased exploration for oil and natural gas in the Gulf of Mexico.
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The troubled free-trade agreement (FTA) negotiations between the United States and South Korea broke down last week at a meeting in Montana.
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Chinese steel traders think it is unlikely that their government will further adjust steel export taxes in the middle of December, as it has been widely expected to do.
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Dozens of major U.S. manufacturing industries continue to lose large portions of their home market to foreign-produced goods, according to a new report addressing import penetration.
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Global investment bank Lehman Brothers Inc. is recalibrating its commodity index for 2007, with metals gaining at the expense of energy and other sectors.