Mitsubishi Motors Philippines Corporation (MMPC) and Toyota Motors Philippines Corporation (TMPC) have announced that the Japanese companies will be investing approximately P8 billion (US$172 million) under the Philippine government’s Comprehensive Automotive Resurgence Strategy (CARS) programme by 2018.
Read more...Japan's largest steel producer, Nippon Steel & Sumitomo Metal Corp (NSSMC), is planning to spend US$50 million for a new plant in Shelbyville, Indiana.The Japanese firm has announced that it has set up a subsidiary to process cold heading steel wire for the auto industry.
Read more...Singapore Technologies Engineering Ltd's (ST Engineering) aerospace arm Singapore Technologies Aerospace Ltd (ST Aerospace) has announced that its subsidiary Elbe Flugzeugwerke GmbH (EFW) will be setting up a new subsidiary in Kodersdorf, Germany, with a planned equity of €5.5 million (US$6.2 million).
Read more...Sentiment in China’s steel market collapsed to a 16-month low, with most market participants expecting new steel orders and prices to weaken further over the next month, according to the latest S&P Global Platts China Steel Sentiment Index (CSSI) for June, which showed a headline reading of just 15.92 out of a possible 100 points.
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Luxembourg-based steelmaker ArcelorMittal is expanding its offerings of advanced high-strength steel grades to help automakers meet new emissions and fuel-efficiency standards. Named Usibor 2000 and Ductibor 100, the new steel grades will be unveiled next year.
Read more...Renishaw has opened a new Additive Manufacturing Solutions Centre in Pune, India. The new facility will provide a secure development environment in which customers can expand their knowledge and confidence using additive manufacturing (AM) technology.
Read more...Boeing is introducing a faster layer of automation into its 737 factory, adding a new robotic system to drill holes in the main beams inside each wing known as spars.
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Japanese company Mitsubishi Heavy Industries is looking to reduce costs at its steel-making equipment venture, Primetals Technologies, with Germany’s Siemens AG in the face of a steel glut in world markets.
Read more...US cutting tool consumption totalled US$173.64 million in April according to the US Cutting Tool Institute (USCTI) and the Association For Manufacturing Technology (AMT). With a year-to-date total of US$689.76 million, 2016 was down 10.3 percent when compared with 2015.
Read more...Ford Motor is in talks with China’s Changan Automobile Group to produce the brand’s Lincoln series in Chongqing as it aims to make the country its top market for the luxury line, Bloomberg reports.
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