Stanley Black & Decker, a storied American tool brand, wanted to build wrenches in America, but failed to do so profitably. Here's the sad story of what transpired when the company tried to make wrenches in Texas, as told by John Keilman in The Wall Street Journal: The world’s largest tool company couldn’t figure out how to make a wrench. Stanley Black & Decker SWK -0.08%decrease; red down pointing triangle built a $90 million factory on the edge of Fort Worth, Texas, intending to burnish the Made-in-the-U.S.A. luster of the Craftsman brand by forging mechanics’ tools with … [Read more...]
Swiss Company to Build New Solar Cell Facility in Colorado
Swiss solar cell manufacturer Meyer Burger is building a new production facility in Colorado Springs. Aldo Svaldi reports in The Denver Post: Meyer Burger, a Swiss maker of solar cells and modules, will locate a new manufacturing plant in Colorado Springs as it boosts its U.S. presence, the Colorado Office of Economic Development and International Trade announced Monday. The new plant is expected to bring up to 380 paying an average annual wage of $77,842, which is nearly 130% of the average annual wage in El Paso County. Project managers, operators, facility managers, process engineers, … [Read more...]
American Companies Paying More Attention to India
As tensions with China rise, American businesses are spending more time considering India as a new location for manufacturing. Tesla CEO Elon Musk recently met with India's Prime Minister Narendra Modi and afterwards told Reuters that a significant investment in India is "something we intend to do." Hyunjoo Jin and Shivangi Acharya report for Reuters: India has strong potential for a sustainable energy future including solar power, stationary battery packs and electric vehicles, Musk said, adding that he hopes to bring SpaceX's Starlink satellite internet service to India as well. "He … [Read more...]
America Experiencing a Factory Building Boom
After COVID-19 supply chain struggles raised red flags about dependence on imports from China and elsewhere, many companies are building new production facilities in America to retake control of their logistical plans. John Keilman reports in The Wall Street Journal: Production at U.S. factories rose last year, but few things were produced at a more furious pace than factories themselves. Construction spending related to manufacturing reached $108 billion in 2022, Census Bureau data show, the highest annual total on record—more than was spent to build schools, healthcare centers or office … [Read more...]
American Manufacturers ALARMED by Schumer-Manchin Tax Hike Plan
The National Association of Manufacturers (NAM) is sounding the alarm over the recently unveiled Schumer-Manchin tax plan that would disproportionately burden their operations. NAM reports: The proposed “book tax” in the Senate’s reconciliation bill “would overwhelmingly hit U.S. manufacturers,” according to a new analysis by the Joint Committee on Taxation, Congress’s non-partisan tax scorekeeper. What’s going on: The reconciliation bill, the outline of which was released Wednesday by Senate Majority Leader Chuck Schumer (D-NY) and Sen. Joe Manchin (D-WVA), proposes a 15% minimum … [Read more...]
Peloton to Outsource Bike Manufacturing to Taiwanese Firm
After trying to bring more production in-house during the pandemic, Peloton will outsource manufacturing of its bikes and treadmills to Taiwanese firm, Rexon Industrial Corp. Sharon Terlep reports in The Wall Street Journal: The New York company said Taiwanese manufacturer Rexon Industrial Corp., which has been working with Peloton for years, will become the primary maker of hardware for its bike and tread product lines. The change reverses a pandemic-driven strategy to bring its production in-house. It will reduce the cash burden on the business, said Peloton Chief Executive Barry … [Read more...]
Orders for Manufacturing Tech Hit All-Time High
Last year, orders for manufacturing technologies hit a new record, according to the Association for Manufacturing Technology. In 2021, manufacturers purchased an all-time high of $5.9 billion worth of manufacturing technology. Industry Week reports: According to AMT, the later half of the year in particular saw orders increase dramatically. August through December 2021, the association reported, saw a streak of orders breaking $500 million each month, the first such five-month streak on the agency’s records. In total, the $5.9 billion spent on manufacturing technology in 2021 was more $2 … [Read more...]
IKEA UPGRADE: Furniture, Meatballs and…Robots?
IKEA is best known for its self-assembled furniture, and Swedish meatballs available at its stores. But the next big thing people may associate with IKEA are robots. The company plans to employ many more robots and automation in its business to adapt to surging demand. Colin Campbell reports for Supply Chain Dive: Ikea is seeking to improve its e-commerce capabilities after struggling to adapt to the surge in orders at the beginning of the pandemic. Ikea upgraded its physical stores in addition to its distribution and customer fulfillment networks as it pursues … [Read more...]
SOLD OUT: Inflation, Supply Issues Limit Customer Options
Companies faced with limited supplies of raw materials and rising costs of goods are narrowing down the models of products they make to only the most profitable. That usually means that they are building the higher-end, pricier models in their product portfolios, leaving families with lower earnings unable to find cheaper alternatives. The Wall Street Journal reports: Anthony Coughlin’s appliance shop has little trouble filling orders for high-tech washing machines or designer ovens. More difficult: satisfying customers on the hunt for bare-bones, low-budget machines. “There was a day when … [Read more...]
No Workers and No Chips Holding Back American Factories
American factories are being held back by a lack of people willing to work, and by a lack of chips to put in products. Justin Lahart reports for The Wall Street Journal: Factory production is having a hard time shifting into higher gear. This isn’t because manufacturers don’t want to turn their wheels any faster, but because for now they can’t. The Federal Reserve on Thursday reported that industrial production—the combined output of U.S. factories, utilities and mines—rose 0.4% last month from May. That increase was largely due to a 2.7% increase in utility output, as the country cranked … [Read more...]