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Emerson Subsidiary Expanding, Adding Jobs in North Carolina
ASCO Power Technologies, a subsidiary of global technology company Emerson, will invest $11.4 million to expand its manufacturing facility in Welcome, North Carolina, according to the North Carolina governor's office.
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Auto Supplier Building Plant, Creating 300 Jobs in Alabama
Royal Technologies Corporation, a supplier of plastic parts to the automobile industry, will invest up to $30 million to construct a manufacturing facility in Hanceville, Alabama.
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Industrial Production Down in January
U.S. industrial production was down sharply in January, according to figures from the U.S. Federal Reserve. Manufacturing fell 1.8 percent, more than the average industry prediction of 1.5 percent.
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Printing Company Expanding, Adding Jobs in Pennsylvania
W.S. Packaging Group, which provides printing services and flexible packaging to commercial and industrial markets, will invest $2.4 million to expand its facility in Franklin, Pennsylvania, according to the Pennsylvania governor's office.
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GM, Chrysler Request More Bailout Funds; Both to Cut Jobs and Models
General Motors (GM) and Chrysler have submitted their reorganization plans to the Treasury Department that request an additional $39 billion in federal bailout funds and promise massive job cuts and major corporate restructuring.
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Obama Signs Economic Stimulus Package
President Barack Obama has signed the American Recovery and Reinvestment Act, known familiarly as the economic stimulus package, into law.
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Auto Parts Manufacturer Expanding in Indiana
Adkev Inc., a manufacturer of plastic injection molded components and assemblies for automobiles, will invest more than $1.1 million to purchase and install additional automation features and production monitoring systems at its facility in Monticello, Indiana, according to the Indiana governor's office.
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Smithfield Foods Closing Six Plants, Cutting 1,800 Jobs
Smithfield Foods, Inc., the largest producer of fresh pork and packaged meats in the United States, will close six food processing facilities and cut 1,800 jobs as part of a company restructuring.
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Auto Suppliers Seek $25.5 Billion Government Bailout
The Original Equipment Suppliers Association and the Motor & Equipment Manufacturers Association, two trade groups representing U.S. automotive suppliers, have made a formal request to the Treasury Department for up to $25.5 billion in loans and government guarantees to stabilize their industry.
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Toyota Offering Buyouts to 18,000 U.S. Workers, Cutting Exec Pay
Toyota Motor Corporation will offer buyouts to approximately 18,000 of its employees in the United States and will cut executive compensation by up to 30 percent.
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