factory
May 06, 2025
Industry Week
Ford reported a 65% drop in first-quarter profits Monday, citing a near-term drag on auto sales from new vehicle launches, as it withdrew its forecast amid tariff uncertainty.
The carmaker estimated a full-year net hit of about $1.5 billion in adjusted operating earnings following President Donald Trump's myriad tariff actions since returning to the White House in January.
The company has implemented some supply chain changes to mitigate any blowback from Trump's tariffs, shaving $1 billion from the overall tariff drag, which Ford estimated at $2.5 billion after levies on imported finished vehicles, steel and aluminum and imported parts.
"Our teams have done a lot to minimize the impact of tariffs on our business," Chief Financial Officer Sherry House said on a conference call with reporters.
Profits came in at $471 million, beating analyst expectations but just over a third of the level in the 2024 period, with revenues falling 5% to $40.7 billion.
In the first quarter, Ford wholesale units fell 7% from the year-ago level, a drop the automaker had previously telegraphed due to slowed output at plants in Kentucky and Michigan where new vehicles are being launched.
In March, Ford began shipping the new Ford Expedition and Lincoln Navigator to customers.
Profits fell in Ford's "Pro" division, which is geared toward fleet and sales to businesses, and in its "Blue" division, which consists of conventional internal combustion engine cars. But losses declined in Ford's electric vehicle division.
Ford described its underlying business as "strong," saying it had been on track with the prior projection of between $7 and $8.5 billion in adjusted operating earnings, excluding tariff-related impacts.
Ford's measures to limit tariffs thus far include adjusting vehicle shipments from Mexico to Canada to avoid triggering U.S. tariffs, said House. The company was also avoiding levies on parts that "merely pass through the U.S."
Last week, Trump announced steps to mitigate tariffs on auto parts, permitting companies to offset a fraction of imported part costs for two years to allow automakers time to relocate supply chains.
While the White House has not done anything to lessen the drag of 25% tariffs on finished autos, House said Ford expects an offset from U.S.-made parts assembled in foreign plants.
Chief Executive Officer Jim Farley said Ford intended to stay "very aggressive" in chasing customers. The company last week announced it was extending a promotion that offers employee pricing on many retail models, lifting car sales significantly in April.
But Ford executives expect pricing to rise later in 2025 as the tariffs reverberate through, likely denting sales in the second half of the year.
House expects "some potential compression" in sales in the second half of 2025 when prices could tick higher amid tariffs, resulting in a net for all of 2025 of flat or up about 1%.
Ford is "suspending" its guidance due to myriad uncertainties. Besides tariffs and potential retaliatory tariffs, Ford cited other "material near-term" risks as including potential supply chain disruption and uncertainty over emissions policy changes in Washington.
The company is monitoring the impact of China's restrictions on rare earth elements, which play an important part in manufacturing and could potentially cause disruptions in auto supply chain, said Ford Chief Operating Officer Kumar Galhotra.
That could result in lower production of vehicles at Ford or at a competitor, further altering the competitive pricing dynamics, Galhotra said.
Ford fell 2.3% in after-hours trading.
All rights reserved ©2025 Agence France-Presse
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Industry Week
Ford Sees $1.5 Billion Tariff Hit This Year, Suspends 2025 ForecastFord reported a 65% drop in first-quarter profits Monday, citing a near-term drag on auto sales from new vehicle launches, as it withdrew its forecast amid tariff uncertainty.
The carmaker estimated a full-year net hit of about $1.5 billion in adjusted operating earnings following President Donald Trump's myriad tariff actions since returning to the White House in January.
The company has implemented some supply chain changes to mitigate any blowback from Trump's tariffs, shaving $1 billion from the overall tariff drag, which Ford estimated at $2.5 billion after levies on imported finished vehicles, steel and aluminum and imported parts.
"Our teams have done a lot to minimize the impact of tariffs on our business," Chief Financial Officer Sherry House said on a conference call with reporters.
Profits came in at $471 million, beating analyst expectations but just over a third of the level in the 2024 period, with revenues falling 5% to $40.7 billion.
In the first quarter, Ford wholesale units fell 7% from the year-ago level, a drop the automaker had previously telegraphed due to slowed output at plants in Kentucky and Michigan where new vehicles are being launched.
In March, Ford began shipping the new Ford Expedition and Lincoln Navigator to customers.
Profits fell in Ford's "Pro" division, which is geared toward fleet and sales to businesses, and in its "Blue" division, which consists of conventional internal combustion engine cars. But losses declined in Ford's electric vehicle division.
Ford described its underlying business as "strong," saying it had been on track with the prior projection of between $7 and $8.5 billion in adjusted operating earnings, excluding tariff-related impacts.
Ford's measures to limit tariffs thus far include adjusting vehicle shipments from Mexico to Canada to avoid triggering U.S. tariffs, said House. The company was also avoiding levies on parts that "merely pass through the U.S."
Last week, Trump announced steps to mitigate tariffs on auto parts, permitting companies to offset a fraction of imported part costs for two years to allow automakers time to relocate supply chains.
While the White House has not done anything to lessen the drag of 25% tariffs on finished autos, House said Ford expects an offset from U.S.-made parts assembled in foreign plants.
Chief Executive Officer Jim Farley said Ford intended to stay "very aggressive" in chasing customers. The company last week announced it was extending a promotion that offers employee pricing on many retail models, lifting car sales significantly in April.
But Ford executives expect pricing to rise later in 2025 as the tariffs reverberate through, likely denting sales in the second half of the year.
House expects "some potential compression" in sales in the second half of 2025 when prices could tick higher amid tariffs, resulting in a net for all of 2025 of flat or up about 1%.
Ford is "suspending" its guidance due to myriad uncertainties. Besides tariffs and potential retaliatory tariffs, Ford cited other "material near-term" risks as including potential supply chain disruption and uncertainty over emissions policy changes in Washington.
The company is monitoring the impact of China's restrictions on rare earth elements, which play an important part in manufacturing and could potentially cause disruptions in auto supply chain, said Ford Chief Operating Officer Kumar Galhotra.
That could result in lower production of vehicles at Ford or at a competitor, further altering the competitive pricing dynamics, Galhotra said.
Ford fell 2.3% in after-hours trading.
All rights reserved ©2025 Agence France-Pressefactory
06 May 2025
Manufacturing Net
Ford Expects $1.5 Billion Tariff Hit This YearDEARBORN, Mich. (AP) — Ford Motor Co. says it expects to take a $1.5 billion hit to its operating profit from tariffs this year and is withdrawing its full-year financial guidance due to the uncertainty created by the Trump administration's evolving trade policy.
Ford said Monday that its net income fell by about two-thirds in the first quarter to $473 million, or 12 cents per share, from $1.33 billion, or 33 cents per share in the year-earlier quarter. Revenue dropped 5% to $40.66 billion.
The results topped the expectations of analysts surveyed by FactSet, who forecast earnings per share for the quarter would be flat. Revenue was forecast to be $38.02 billion. Still, the stock fell more than 2% in after-hours trading.
Last week, General Motors said it is bracing for a potential impact from auto tariffs as high as $5 billion in 2025. Ford and Tesla are expected to see a smaller impact from tariffs than GM and other automakers because they assemble more of their cars in the U.S. Still, what impact they do see won't be insignificant.
Ford originally forecast 2025 earnings before interest and taxes in a range of $7 billion to $8.5 billion, but on Monday the company said the risks associated with tariffs “make updating full year guidance challenging right now given the potential range of outcomes.”
Ford CEO Jim Farley has been touting the advantage that higher domestic production gives his company and he did so again Monday, while acknowledging that the shake-up to the industry from tariffs is still in its early stages.
“It’s too early to gauge the related market dynamics, including the potential industrywide supply chain disruptions,” said Farley said on an earnings call with analysts. “Automakers with the largest U.S. footprint will have a big advantage, and, boy, that is that true for Ford. It puts us in the pole position.”
President Donald Trump says one goal of his trade policy is to move more manufacturing of products such as autos back to the U.S. Last week Trump signed executive orders to relax some of his 25% tariffs on automobiles and auto parts in a move the president said would allow automakers more time to transition their manufacturing operations.
Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales and make U.S. production less competitive worldwide.
The potential impact of tariffs dominated Ford's earnings calls, with one executive noting how just a little trouble with a few parts could have a dramatic effect.
“The rare earth materials from China, for example, how they are imported, not just for us, but for the entire industry, has become rather complicated over the last few weeks,” said Chief Operating Officer Kumar Galhotra. “It would take only a few parts to potentially cause some disruption into our production.”factory
06 May 2025
Manufacturing Net
American Battery Technology Company Receives Loi For $900 Million For Nevada Lithium ProjectAmerican Battery Technology Company (ABTC), an integrated critical battery materials provider, announced that it received a Letter of Interest (LOI) from the Export-Import Bank of the United States (EXIM) for $900 million. ABTC expects the financing to support the construction of a commercial-scale lithium mine and claystone-to-lithium hydroxide refinery near Tonopah, Nevada. Â
The LOI, which does not constitute a commitment of financing, comes a few weeks after ABTC revealed a partnership with engineering firm Black & Veatch to support the commercial-scale design and construction of a manufacturing facility in Nevada, which aims to produce nearly 33,000 tons of lithium hydroxide annually.
The development aligns with ABTC's goal of commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling.
“This proposed financial support can greatly accelerate the commercialization of our domestic critical mineral mine and refinery, and we are excited to implement at scale these first-of-kind technologies that we have been demonstrating over the past several years," American Battery Technology Company CEO Ryan Melsert said.
In accordance with SEC guidelines, in April 2024, ABTC published its amended Initial Assessment, which presented the technical and economic study of this project and concluded that this resource would serve as one of the largest known lithium resources in the U.S.
Throughout the world, lithium products are generally manufactured from conventional feedstock resources, which include hard rock spodumene materials primarily from western Australia and lithium-rich brines primarily from South America.
However, the U.S. lacks large quantities of these conventional resources. As a result, ABTC has developed to access the lithium within unconventional lithium-rich claystone material found in central Nevada, enabling domestic production of battery-grade lithium materials.
ABTC’s project supports EXIM’s “Make More in America” initiative and its “China and Transformational Export Program." EXIM designed both programs to provide financing for U.S. companies competing with China in certain critical export areas, including the domestic manufacturing of critical minerals.
The LOI follows an executive order from U.S. President Donald Trump on March 20 titled “Immediate Measures to Increase American Mineral Production,” which directed federal agencies to unlock permitting, funding and offtake agreements for domestic critical mineral manufacturing facilities.factory
06 May 2025
Manufacturing Net
U.S. Gives Initial Approval For $3.5 Billion Missile Sale To Saudi ArabiaDUBAI, United Arab Emirates (AP) — The United States has given initial approval to sell $3.5 billion worth of air-to-air missiles for Saudi Arabia's fighter jets, the latest proposed arms deal for the region ahead of President Donald Trump 's planned trip to the region later this month.
The sale, announced early Saturday, likely will be one of several heralded by Trump on his visit to the kingdom. Saudi Arabia has already said it wants to invest $600 billion in the United States over the next four years, likely as a way to woo Trump to again pick the kingdom for his first formal trip as president. Trump traveled to Italy briefly for Pope Francis' funeral.
Trump’s 2017 trip to Saudi Arabia upended a tradition of modern U.S. presidents typically first heading to Canada, Mexico or the United Kingdom for their first trip abroad. It also underscored his administration’s close ties to the rulers of the oil-rich Gulf states as his eponymous real estate company has pursued deals across the region.
The arms sale involves 1,000 AIM-120C-8 advanced medium range air-to-air missiles, guidance sections and other technical support. The missiles will be built by RTX Corp of Tucson, Ariz.
The Royal Saudi Air Force has the world's second-largest fleet of F-15 fighter jets after the U.S.
“This proposed sale will support the foreign policy goals and national security objectives of the United States by improving the security of a partner country that contributes to political stability and economic progress in the Gulf Region,” the U.S. Defense Security Cooperation Agency said in a statement.
The proposed sale now goes to the U.S. Congress. Lawmakers typically weigh in on such sales and, in some cases, can block them.
Saudi Arabia has faced intense Congressional scrutiny for years, first for launching a war on Yemen's Houthi rebels back in 2015 that saw the kingdom's airstrikes kill civilians. Then a Saudi assassination team killed Washington Post columnist Jamal Khashoggi at the Saudi Consulate in Istanbul in 2018.
The U.S. intelligence community concluded the Saudi Crown Prince Mohammed bin Salman, who likely will meet Trump on his visit this month and met with President Joe Biden in his term, ordered the operation against Khashoggi. The kingdom insists the prince was not involved in the killing.
Trump maintained close ties to the Gulf states after leaving office. His second administration has already given initial approval for the energy-rich Mideast nation of Qatar to buy eight armed MQ-9B Reaper drones for its military, a purchase estimated to be worth nearly $2 billion.factory
05 May 2025
Manufacturing Net
Shoemaker Skechers To Be Acquired For $9 BillionThe shoe company Skechers is being acquired for more than $9 billion to be taken private by the investment firm by 3G Capital.
The deal comes amid growing uncertainty over how U.S. President Donald Trump's tariffs on foreign goods will affect companies who make their products overseas, particularly in China. Athletic shoe makers have invested heavily in production in Asia.
The offer of $63 per share represents a premium of 30% to Skechers' 15-day volume-weighted average stock price. The deal was unanimously approved by Skechers' board.
Skechers shares jumped nearly 25% Monday, to $61.56.
In a press release announcing the deal, the companies did not mention the potential impacts of Trump's tariffs on its business going forward. However, Skechers says that about two-thirds of its revenue comes from sales outside of the U.S. China accounts for 15% of the company's revenue, according to the data firm FactSet.
The deal comes at a precarious time with Trump's ongoing, on-again-off-again tariff announcements. Like many other companies increasingly have done since Trump's widespread tariff announcements, Skechers did not issue guidance when it released its first quarter earnings in April. Chief Financial Officer John Vandemore told investors that the "current environment is simply too dynamic from which to plan results with a reasonable assurance of success."
Executives also said they would be looking to minimize products going to the U.S. from "high-cost locations," including the impact of tariffs. The company did not immediately provide a breakdown of foreign production, but many of their shoes come with a "Made in China" stamp.
Trump raised the tariff on Chinese imports to 125% in early April, hours after China boosted the duty on American goods to 84% in an escalating battle that threatens to disrupt trade between the world's two largest economies.
Skechers executives said last month that the company had several "levers" it could pull to deal with tariffs, including cost sharing with vendors, sourcing optimization, and price adjustments.
"We're looking at how we optimize the global cost of tariffs in all markets when we look to move production around," Vandemore said last month. "Obviously, with an effective tariff rate at about 159%, products from China to the U.S. are prohibitively expensive."
Skechers has about 5,300 retail stores worldwide, about 1,800 company-owned.
About 97% of the clothes and shoes purchased in the U.S. are imported, predominantly from Asia, according to the American Apparel & Footwear Association. Using factories overseas has kept labor costs down for U.S. companies, but neither they nor their overseas suppliers are likely to absorb price increases due to new tariffs.
When the deal closes, the company will be led by Skechers Chairman and CEO Robert Greenberg and his management team. Its headquarters will remain in Manhattan Beach, California, where it was founded more than three decades ago.
Skechers reported a record $9 billion in revenue in 2024 with net earnings of $640 million.
The deal with 3G Capital is expected to close in the third quarter this year.factory
05 May 2025
Construction Review
Egypt Signs $120 Million Deal For The Construction Of Kizad East Port Said Industrial And Logistics ZoneEgypt has signed a $120 million agreement with Abu Dhabi’s AD Ports Group to build KIZAD East Port Said project. This will be a 20-square-kilometre industrial and logistics zone in East Port Said. A Cabinet statement revealed that the government designed the ambitious move to bolster trade and investment at the northern entrance of the Suez Canal.
The agreement was signed in the presence of Egyptian Prime Minister Moustafa Madbouly, grants Abu Dhabi Ports 50-year usufruct rights—renewable—to finance, build, operate and manage the new zone, known as “KIZAD East Port Said.” Construction of the first 2.8-square-kilometre phase of the project is expected to commence by the end of 2025.
Developer and operator: AD Ports Group will be responsible for developing and operating this new industrial and logistics park.
Size: The zone will span across a 20-square-kilometer area.
Significance:
Also read: $1.65 Billion Egypt’s Xinfeng Integrated Metallurgical Complex Agreement Signed
The developers positioned the project to become a regional trade and logistics hub. This will leverage Egypt’s strategic location at the crossroads of three continents and make it a key point along global shipping routes. Furthermore, it integrates directly with East Port Said port, one of the most advanced Mediterranean ports. This will further boost its appeal to international investors.
“This is a strategic milestone that showcases the deepening partnership between Egypt and the UAE,” said Waleid Gamal El-Dien, Chairman of the Suez Canal Economic Zone (SCZone).
Additionally, the project includes plans for a 1.5-kilometre quay and another potential multipurpose cargo terminal. Abu Dhabi Ports has currently committed up to $120 million to early development and technical studies over the next three years.
Also read:Â Egypt and France Advance Cooperation on Cairo Metro and Alstom Complex Projects
Ahmed Al Mutawa, Regional CEO of AD Ports, said the East Port Said development would be a significant driver of investment and economic growth.
“By leveraging the natural assets of the Suez Canal region, the project will bolster Abu Dhabi Ports’ growing presence in Egypt. It will also support Egypt’s positioning as a strategic global trade gateway.” Al Mutawa added.
Lastly, the deal also follows a memorandum of understanding between Abu Dhabi Ports and Egypt’s Hassan Allam Holding to explore further logistics and industrial opportunities in East Port Said and beyond. Additionally, in the year 2024, the government tasked Hassan Allam Construction with setting up infrastructure for the $200 million Safaga multipurpose terminal on the Red Sea.
Also read: IRSC Signs agreement with ACO, Sungrow, and Tongwei for Egypt’s 75 MW Solar Projectsfactory
04 May 2025
Manufacturing Net
Corning Raises Investment To $1.5 Billion In MichiganCorning Incorporated announced an increased investment to its new manufacturing facility in Saginaw County, Michigan, to support increasing demand for U.S.-made solar components. The company raised the investment to $1.5 billion, which will add 400 jobs for a total of 1,500 at the location.
The company said its increased manufacturing capacity will enable it to supply high-quality solar wafers and help strengthen the domestic solar supply chain.Â
Corning expects the new facility to build off its production of hyper-pure polysilicon through its ownership of Hemlock Semiconductor (HSC). The announcement also follows a deal between Corning, Suniva and Heliene to develop a U.S.-made solar module with polysilicon, wafers and cells.
“We are proud to meet the increasing demand for U.S.-sourced solar products by accelerating the ramp of our advanced manufacturing assets and support the nation’s priority of domestic energy security," Corning Chairman and CEO Wendell P. Weeks said.factory
02 May 2025
Manufacturing Net
Kimberly-Clark To Invest Over $2 Billion In U.S. ManufacturingKimberly-Clark Corporation announced plans to invest over $2 billion over the next five years in its North America business, marking the company's largest domestic expansion in more than 30 years. The company expects the investments to enhance its U.S. manufacturing capacity.
The broad-based investment program will focus on two projects: a new advanced manufacturing facility in Warren, Ohio, and an expansion of its Beech Island, South Carolina, site with an automated distribution center. It will also include additional capital expenditure linked to innovation and automation upgrades across its North America supply chain network.
Most read on Manufacturing.net:
Kimberly-Clark expects the projects to create more than 900 jobs in industrial automation and advanced manufacturing.
The new Ohio facility, located in geographic proximity to roughly 117 million consumers, will feature more than 1 million square feet and serve as a vital hub for the Northeast and Midwest regions.
Designed to facilitate growth for Kimberly-Clark's personal care categories, the site's proprietary manufacturing technologies will enable the creation of new and improved next-generation consumer products, rooted in material invention, product engineering and manufacturing process innovation.
The new Regional Distribution Center (DC) in South Carolina will create the infrastructure necessary to support future scale and unlock network efficiencies. Located next to the company's largest manufacturing facility, the automated DC will significantly increase the site's ability to direct-ship and streamline its distribution footprint.
The facility will leverage advanced robotics, AI-powered logistics systems and high-density automated storage to dramatically improve operational efficiencies and fast-track speed to market.
"By bringing together manufacturing and distribution under one automated roof, we are building a more agile, responsive and resilient manufacturing network that will enhance service levels for our retail partners and contribute to our gross productivity plan," Kimberly-Clark Chief Supply Chain Officer Tamera Fenske said.Â
Construction for both facilities is scheduled to begin in May 2025 and expected to be completed over the next two to three years.
Click here to subscribe to daily newsletters featuring breaking manufacturing industry news.factory
02 May 2025
Manufacturing Net
Kodiak Acquires Sunocs, Plant That Can Produce Over 100 Million Pounds Of GreaseKodiak LLC, a provider of specialty chemicals, announced its acquisition of Sunocs LLC, the company's fifth acquisition since 2023.
Sunocs' assets amplify Kodiak's manufacturing platform and product portfolio of high-performance chemicals into the highly technical niche of silicones and greases. Furthermore, the acquisition of the Sunocs client base broadens Kodiak's reach into new markets by opening cross-selling opportunities for an already expansive product portfolio.
Kodiak now owns and operates 44 stainless steel, glass lined and hastalloy high temperature reactors, 35 mixing kettles and 50-plus temperature controlled bulk storage tanks with 1.25 million gallons of storage. Additionally, Kodiak can now produce over 100 million pounds of grease and 30 million pounds of silicone and die casting lubricants at its new plant in Valparaiso, Indiana.Â
The acquisition of Sunocs responds to a notorious shortage in grease supply since 2021. With laboratories and manufacturing in four different locations nationwide, Kodiak expects to develop new technologies and solve operational challenges. The company hopes its growth strategy delivers value to its customer base in the steel, metalworking, machining, wire-drawing, aerospace, automotive, packaging and energy industries.factory
02 May 2025
Industry Week
Gm Cuts 2025 Outlook, Projects Up To $5 Billion Hit From TariffsGeneral Motors pledged Thursday to take additional steps to boost its U.S. supply chain after projecting a $4-5 billion hit to the U.S. auto giant's 2025 earnings from President Donald Trump's tariffs.
GM expects to offset "at least" 30% of that tariff hit from "self help" measures that include relatively quick changes to its production and supply chain footprint, executives said.
Chief Executive Mary Barra described her talks with Trump and his administration as "very productive," praising a White House move on Tuesday to temper tariffs on auto parts as advancing "our shared goals of growing the U.S. auto industry, which will be good for America in the long term."
On Thursday, GM updated its adjusted earnings range to $10 billion to $12.5 billion from the earlier $13.7 billion to $15.7 billion.
The impact includes $2 billion in estimated tariffs on finished vehicles from South Korea, where GM manufactures a number of value-priced autos, including the Chevrolet Trax, a small sport utility vehicle.
GM postponed its earnings conference call until Thursday after Trump's tariffs move.
The U.S. president also released a proclamation that gives the industry a two-year grace period to reduce "American reliance on imports of foreign automobiles and their parts" -- designed to encourage firms to move supply chains stateside.
Under that policy, companies that import parts for vehicles assembled in the United States would be able to offset 3.75% of a vehicle's list price in the first year and 2.5% in the second year.
But Trump has not taken steps to mitigate a 25% tariff on auto imports, which also affects GM vehicles made in Canada and Mexico.
In media interviews Thursday, Barra said the company is considering its global operations in light of Trump's tariff policy, while monitoring trade talks between the United States and South Korea.
"Our entire footprint is under review," Barra said on Fox Business.
GM said earlier this month that it plans to boost truck production at its plant in Fort Wayne, Indiana.
Barra signaled similar steps at other plants were likely, noting the company has "excess capacity" at manufacturing facilities in the United States and adjustments would be faster to make at existing factories.
Other quick "self help" measures include shifting more electric battery module production to the United States and working with auto suppliers to boost their U.S.-supplied content for GM vehicles, said Barra, who noted that the company is also working to avoid unnecessary discretionary spending.
"There's a lot of levers that we can pull," Barra said. "We'll be announcing more as we go forward."
GM's American rival Ford reported a 16.2% surge in U.S. auto sales for April after the company extended employee pricing to retail customers.
Chief Executive Jim Farley told Fox Business on Wednesday that Ford will extend that promotion through the July 4 Independence Day holiday.
Ford will have additional comment on tariffs when it reports earnings next week, but Farley told Fox Business that a push to have U.S.-assembled vehicles made entirely of U.S.-made parts would mean higher prices for customers.
Even with Trump's modifications, automakers face a 25% tariff on imported parts after the two-year grace period. Ford currently imports 15% of its parts.
"What is the right balance between affordability and making 100% of the parts here?" Farley asked. "The issue is that it would increase the price a couple of thousand dollars, so that's the debate right there."
Shares of GM rose 1.7% in morning trading, while Ford jumped 3.0%.
All rights reserved ©2025 Agence France-Pressefactory
01 May 2025Manufacturing Net
General Motors Trims 2025 Guidance, Anticipating Potential $5 Billion Tariff ImpactGeneral Motors is lowering its profit expectations for the year as the carmaker braces for a potential impact from auto tariffs as high as $5 billion in 2025.
GM announced early this week that it was reassessing its expectations for 2025 due to tariffs. The company said at the time that its initial full-year financial outlook didn’t contemplate their potential impact.
On Thursday the automaker said that it now foresees full-year adjusted earnings before interest and taxes in a range of $10 billion to $12.5 billion. The guidance includes a current tariff exposure of $4 billion to $5 billion.
GM previously predicted 2025 adjusted EBIT between $13.7 billion and $15.7 billion.
The revised forecast comes after President Donald Trump signed executive orders Tuesday to relax some of his 25% tariffs on automobiles and auto parts, a significant reversal as the import taxes threatened to hurt domestic manufacturers.
Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales and make U.S. production less competitive worldwide. Trump portrayed the changes as a bridge toward automakers moving more production into the United States.
Still, it remains unclear what impact Trump’s broader tariffs will have on the U.S. economy and auto sales. Most economists say the tariffs — which could ultimately hit most imports — would raise prices and slow economic growth, possibly hurting auto sales despite the relief that the administration intends to offer on its previous policies.
In a letter to shareholders on Thursday, General Motors CEO Mary Barra said that the automaker looks forward to maintaining its strong dialogue with the Trump administration on trade and other evolving policies.
“As you know, there are ongoing discussions with key trade partners that may also have an impact,” she said. “We will continue to be nimble and disciplined and update you as we know more.”
Shares of GM climbed more than 2% before the opening bell.factory
01 May 2025Property Week
Valor And Quadreal Land ÂŁ260M Refinancing Deal With BlackstonePAID CONTENTfactory
30 April 2025Assembly Magazine
Ibm To Invest $150 Billion In U.S. R&D And ManufacturingThe machines made at IBM’s Poughkeepsie plant can each process more than 12 billion encrypted transactions per day.
Photo courtesy IBM Corp.
ARMONK, NY—IBM Corp. plans to invest $150 billion in America over the next five years to "accelerate its role as the global leader in computing." This includes an investment of more than $30 billion in research and development to continue Big Blue's prowess in manufacturing mainframe and quantum computers.  Â
"Technology doesn't just build the future—it defines it," says Arvind Krishna, chairman, president and CEO of IBM. "We have been focused on American jobs and manufacturing since our founding 114 years ago, and with this investment and manufacturing commitment we are ensuring that IBM remains the epicenter of the world's most advanced computing and AI capabilities.Â
“IBM is one of the nation's largest technology employers and has ushered in innovations that include the data processing systems that enabled the U.S. social security system and the Apollo program that put a man on the moon,” explains Krishna. Â
“That legacy continues in Poughkeepsie, NY, where we manufacture the cutting-edge mainframes that are the technology backbone of the American and global economies,” adds Krishna. “More than 70 percent of the entire world’s transactions by value run through the IBM mainframes that are manufactured right here in America.
“IBM also operates the world's largest fleet of quantum computer systems, and will continue to design, build and assemble quantum computers in America,” claims Krishna. “Quantum computing represents one of the biggest technology platform shifts and economic opportunities in decades, and will solve problems that today's conventional computers cannot solve. Enabling these solutions will not only help us better understand the fundamentals of how the world works, but are projected to transform American competitiveness, jobs and national security.”
IBM’s flagship factory in Poughkeepsie was the 2008 Assembly Plant of the Year. To learn about the history of IBM manufacturing, click here.
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28 April 2025Construction Review
$400 Million Ogun Stellar Steel Plant Breaks Ground In NigeriaThe Federal Government of Nigeria has taken a crucial step to slash Nigeria’s $4 billion annual steel import bill with the groundbreaking of a $400 Million Ogun Stellar Steel Plant owned by Inner Galaxy Group in Ogun State.
The Minister of Steel Development, Shuaibu Audu, who performed the official groundbreaking ceremony of the steel plant, said the move is aimed at revitalising the country’s steel sector and reducing dependence on imports.
Project name: Stellar Steel Plant
Investor: Inner Galaxy Group
Location: Ogun State, Nigeria (specific location within the state is not detailed in the provided sources but is situated on over 100 hectares of land).
Investment value: $400 million
Expected completion: April 2026
Products: Hot-rolled coil, a key raw material for industries including:
Capacity: The specific production capacity in tonnes per annum is not explicitly stated in the provided sources. However, the plant is expected to significantly reduce Nigeria’s $4 billion annual steel import bill.
Job creation: Over 3,500 direct and indirect jobs are expected to be generated.
Industrial growth: The plant is anticipated to bolster industrial development in Nigeria.
Backward Integration: Production of hot-rolled coil locally supports other manufacturing sectors.
Also read: Dangote to build Nigeria’s largest seaport in Ogun State, expands cement capacity to 18 million tons
This information was revealed in a statement that was signed by the Principal Information Officer, Ijomah Opia, on Thursday.
Located on over 100 hectares of land, the Stellar Steel Plant is expected to produce hot-rolled coil. This is a key raw material for various industries including construction, automotive, and manufacturing.
The project is anticipated to significantly bolster the nation’s foreign exchange earnings by reducing steel imports while also contributing to economic diversification away from oil and gas.
According to the minister, the facility will enhance industrial growth. It will also generate more than 3,500 direct and indirect jobs, thereby contributing to the administration’s employment drive and economic development agenda.
“This groundbreaking ceremony is a crucial milestone in our journey to revive Nigeria’s steel industry. The completion of this steel plant will reduce our reliance on foreign steel, conserve foreign exchange, and position Nigeria as a key player in the regional and global steel market.
The Stellar Steel plant, which will sit on over 100 hectares of land once completed. Furthermore, it is expected to produce hot-rolled coil thereby reducing Nigeria’s $4 billion annual steel import bill. This will strengthen the nation’s foreign-exchange position, growing, and diversifying the economy away from oil and gas and also creating over 3,500 direct and indirect jobs for Nigerians,” Audu said.
Also read: Nigeria’s $3.3 Billion Brass Industrial Park and Methanol Complex
He also reaffirmed Nigeria’s government commitment to supporting investors in the steel secto. This is showcased through policies that encourage local production, ensure ease of doing business, and drive sustainable industrial development.
The event followed the recent commissioning of the African Industries Group’s Galvanised Steel Plant in Lagos. This is a facility with an estimated annual turnover of $100 million.
The statement noted that both events were part of the Minister’s one-week working visit to Lagos and Ogun States to engage with key private players in the steel sector.
The minister also expressed confidence in the capacity of the Inner Galaxy Group to deliver on its plans for the completion of the Stellar Steel Plant. Additionally, he expects to commission the completed plant by next April 2026.
“As you are all aware, this is one of the most robust cabinet teams that has been put together by any President since the advent of the democratic dispensation in the Fourth Republic in 1999 because President Tinubu is renowned for selecting the best hands and leaders to actualise his vision,” he added.factory
25 April 2025PV Magazine
Das Solar Plans 3 Gw Solar Module Factory In FranceFrom pv magazine France
Chinese solar module manufacturer DAS Solar plans to build a 3 GW solar module assembly factory in Mandeure, a commune in Doubs department in the Bourgogne-Franche-Comté region of eastern France.
“Work on the new manufacturing facility is progressing rapidly,” Frédéric Barbier, the director of the factory project, told pv magazine France, noting that it will require an initial investment of €109 million ($124.1 million).
Das Solar purchased a production site from the French government on Nov. 18, 2024, for €1.4 million. The site had been abandoned since French automotive company Faurecia vacated it in 2020. Asbestos removal began on Dec. 16, 2024, and the main building – set to house PV module assembly lines – has since been cleaned.
“We are therefore meeting our deadlines for the three planned 1 GW lines,” said Barbier. “We plan to commission the first two by the end of 2025 and the third by 2026.”
The modules will be based on n-type tunnel oxide passivated contact (TOPCon) technology, already in use at the group’s Asian facilities, and designed for floating, rooftop, and carport PV applications.
Das Solar will import PV cells produced in China. It also plans to build a 5 GW cell manufacturing plant – using the same technology as in China – in a building next to the first facility. The project could require a €650 million investment and create 2,500 jobs. The company aims to apply for a building permit in May 2025, begin construction in October 2025, and start operations in 2026.
Das Solar said on April 11 that it had signed its first two agreements in France: one with Suez to reprocess end-of-life solar panels, and another with the ĂŽle-de-France Photovoltaic Institute for technological development. The company aims to build a regional industrial hub for the solar sector, though it did not discuss its future projects. For the other components of the solar panels, it plans to work with its Chinese and European subcontractors.
Das Solar operates 14 factories throughout the world, with a total panel and cell capacity of 55 GW. It exports its products to 73 countries. Its revenue reached $3.71 billion in 2023.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.powerplant
24 April 2025Construction Review
Chobani Announces Us$1.2 Billion Yogurt Plant In Rome, New YorkChobani, one of the largest yogurt producers in the United States has announced that it will be constructing a US$1.2 billion plant in Rome, Oneida County. This is one of the largest yogurt plant investments in the nation. It will make New York the number one producer in the country. Along with the large investment announcement, the company also stated that the project is expected to bring numerous benefits to the community. These benefits include the employment of over 1,000 locals during production which will help support numerous families across the state.
Also Read Construction Begins on New York City’s First-Ever Professional Soccer-Specific Stadium, Etihad Park
The plant will be built in the Griffiss Business and Technology Park, located in Rome. The Chobani yogurt plant will take up 1.4 million square feet. Additionally, the plant will be able to process over a billion pounds of yogurt and other dairy products yearly. Furthermore, the company has been offered US$73 million in state tax credit for the plant. The location of the billion-dollar plant is also significant as there are over 3,000 dairy farms in New York. They all produce over 16 billion pounds of milk each year which will be to Chobani’s benefit as this is their main ingredient.Â
Location: Griffiss Business and Technology Park, Rome, New York
Project cost: US$1.2 billion
Scope: 1.4 million square feet
With a market share of 20% in the United States, the company was established in New York state nearly two decades ago. It has since grown tremendously. Further, it also recently announced a US$500 million expansion plan for their facility in Twin Falls Idaho. This upgrade is set to bring the factory to the same level as the planned Rome facility. Additionally, it operates two factories in Chenango County. These include the original plant in South Edmeston and the second plant in New Berlin. The company currently has approximately 500 employees in New York alone but once the plant is completed, the number is set to triple.
Also Read Bravo Property Trust finances New York residential towerfactory
24 April 2025Manufacturing Net
Jury Decides Norfolk Southern Should Pay $600 Million Settlement In 2023 Ohio DerailmentThe company that owned the railcar that caused the devastating East Palestine train derailment in 2023 won't have to help pay for the $600 million settlement Norfolk Southern agreed to with residents.
An Ohio jury decided Wednesday that GATX isn't liable for the settlement even though the failure of a bearing on its railcar carrying plastic pellets caused the pileup on Feb. 3, 2023. GATX has maintained Norfolk Southern operated and inspected the train and all the cars and was responsible for delivering the cargo safely.
“GATX is pleased with the trial outcome, which affirms what we have known for some time: Norfolk Southern alone is responsible for the derailment and resulting damage in East Palestine,” the company said in a statement.
Norfolk Southern called the verdict disappointing but said it won't affect the railroad's commitments to everyone affected by the derailment.
“For more than two years, Norfolk Southern has paid the costs related to the derailment while acknowledging and acting on our own responsibility for the accident. Our belief has always been that GATX shares in that responsibility and should also be held to account,” the railroad said in a statement.
After the train derailed in East Palestine, an assortment of chemicals spilled and caught fire. Then three days later, officials blew open five tank cars filled with vinyl chloride because they feared those cars might explode, generating a massive black plume of smoke that spread over the area and forcing evacuations.
Norfolk Southern lost a similar lawsuit last year when it tried to force GATX and OxyVinyls, which made the vinyl chloride, to help pay for the environmental cleanup after the derailment that has cost the Atlanta-based railroad more than $1 billion. It made similar arguments in this trial.
These lawsuits have no effect on how much money residents or the village of East Palestine will receive from their settlements with the railroad. This cases only affect which company writes the check.
Last week, OxyVinyls agreed to a settlement with Norfolk Southern in this lawsuit over the class-action settlement after the railroad's lawyers raised questions about the inconsistent information the chemical company provided about whether it was necessary to perform the vent-and-burn operation and release the vinyl chloride. The details of that settlement weren't released.
The National Transportation Safety Board confirmed in its investigation that the vent-and-burn operation was unnecessary because the tank cars were starting to cool off and the railroad failed to listen to the advice from OxyVinyls’ experts or share their opinions with the officials who made the decision.
The railroad said GATX should have done more to take care of its railcar, particularly after it was surrounded by floodwaters, which could have damaged its bearings.
But GATX said it complied with all the relevant regulations for taking care of its railcars. The company said that even if the car was damaged six years earlier by standing parked in the middle of floodwaters from Hurricane Harvey, the railroad should have spotted the problem and repaired it, sending GATX the bill for the repairs.
The National Transportation Safety Board said the crash was caused by the failure of an overheating bearing on GATX’s railcar. The railroad’s sensors spotted the bearing starting to heat up in the miles before the derailment, but it didn’t reach a critical temperature and trigger an alarm until just before the derailment. That left the crew little time to stop the train.factory
24 April 2025Battery News
Lg Consortium Abandons Multi-Billion Dollar Project In IndonesiaA South Korean consortium led by LG has withdrawn from a major investment project to develop a battery value chain in Indonesia. According to media reports, the decision concerns a project worth equivalent to approximately 8.45 billion US dollars. Among the participants were LG Energy Solution, LG Chem and LX International as well as Indonesian state-owned enterprises.
The Indonesia Grand Package project was launched in late 2020 and aimed to establish a complete supply chain for electric vehicle batteries. The plan was to integrate all stages of production, from raw material extraction and processing of nickel and other materials to the manufacture of cathodes, precursors, and battery cells.
LG cited changing market conditions and declining global demand for electric vehicles as reasons for the withdrawal. Despite the decision, LG said it intends to continue its existing operations in Indonesia, particularly as part of its HLI Green Power joint venture with Hyundai. The cell production facility there is already operational and will be expanded in the future. Meanwhile, the Indonesian authorities continue to be open to foreign investors and emphasize the economic potential of the nationĘĽs nickel deposits.
Source:https://www.reuters.com/business/energy/south-koreas-lg-energy-solution-pulls-out-indonesia-ev-battery-investment-2025-04-21/factory
22 April 2025Manufacturing Net
Boeing To Sell Portions Of Digital Aviation Solutions To Thoma Bravo For $10.55 BillionBoeing announced that it entered a definitive agreement to sell portions of its Digital Aviation Solutions business, including its Jeppesen, ForeFlight, AerData and OzRunways assets, to software investment firm Thoma Bravo. This all-cash transaction is valued at $10.55 billion.
Boeing will retain core digital capabilities that harness both aircraft and fleet-specific data to provide commercial and defense customers with fleet maintenance, diagnostics and repair services. This digital expertise will continue to provide predictive and prognostic maintenance insights.
"This transaction is an important component of our strategy to focus on core businesses, supplement the balance sheet and prioritize the investment grade credit rating," Boeing President and CEO Kelly Ortberg said.
Approximately 3,900 employees around the globe work in Boeing's Digital Aviation Solutions organization, which includes elements of the business remaining within Boeing and those included in the sale.
Boeing said it would work with Thoma Bravo to help ensure as seamless of a transition as possible for employees while continuing to meet the needs of customers in accordance with all obligations.
The transaction is expected to close by the end of the year and is subject to regulatory approval.factory
22 April 2025Manufacturing Net
Electra Raises $115 Million For Aircraft That Can Take Off And Land In 150 FeetElectra has announced it has secured $115 million in Series B funding to enter the pre-production and certification phase of the EL9, the first-ever Ultra Short aircraft, which can take off and land in 150 feet – roughly 10% of the footprint required for similarly-sized legacy airplanes.
By integrating blown lift technology with hybrid-electric propulsion, Electra's 9-passenger EL9 Ultra Short offers a range of transformative dual-use capabilities. It operates with the landing and takeoff versatility of a helicopter, the quiet of an electric vehicle, and the cost advantage and safety of a fixed-wing, fixed-propeller aircraft. With the EL9, commercial operators can connect communities that lack traditional aviation infrastructure, fly into airports with strict noise restrictions, create new opportunities and business models for cargo services, and save travelers significant time.
For defense operators, the EL9 introduces novel logistics and troop transport capabilities, including the ability to take off and land with a low signature in helicopter-sized spaces in remote, austere areas and providing mobile power capabilities while building on the safety, cost, and range advantages of a fixed-wing aircraft.
Electra has secured more than 2,200 pre-orders valued at over $10 billion for the EL9 – marking one of the largest provisional order pipelines in the commercial Advanced Air Mobility sector. Additionally, Electra has won over 20 Small Business Innovation Research (SBIR) contracts from the U.S. Air Force, U.S. Army, U.S. Navy, and NASA, and is currently performing on a Strategic Funding Increase contract with the U.S. Air Force to develop the EL9 for military use cases.
The EL9 delivers up to 3,000 pounds of payload and a range of up to 1,100 nautical miles, with in-flight battery recharging that eliminates the need for ground charging stations. The ability to operate from compact spaces and unimproved surfaces such as grass fields, parking lots, and repurposed heliports opens new routes and economic opportunities, making regional air mobility for passengers and cargo more affordable and accessible than ever before.
Lockheed Martin Ventures, Honeywell, and Safran are among Electra's strategic investors.factory
22 April 2025