It’s been 50 years since workers began building heavy construction equipment at a plant in Shippensburg, Pa. Back then, the site was owned by Ingersoll-Rand and employed about 50 people. Today, it’s the North American headquarters of Volvo Construction Equipment and employs more than 650 people. Staff gathered to celebrate the milestone Thursday in conjunction with a visit from the…
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Sibanye-Stillwater PGM mines face layoffs
Sibanye-Stillwater – the owner of the only platinum and palladium mines in the U.S. – has plans to lay off 700 employees at its operations in Montana due to declining prices for palladium, reported the Associated Press. The news agency said Sibanye-Stillwater Executive Vice President Kevin Robertson explained in a letter to employees that the price of the precious metal…
Read MoreDoD invests millions in terbium production
The U.S. Department of Defense has announced a $4.22 million award to Rare Earth Salts in Beatrice, Neb., for developing and expanding production of terbium oxide from recycled fluorescent light bulbs. Terbium is an essential element for rare earth magnets in many key defense systems. It makes up less than 1% of the total rare earth content in most deposits.…
Read MoreTsurumi Pump celebrates 100th anniversary
Tsurumi Pump, a pioneering pump manufacturer founded in 1924 in Osaka, Japan, is proud to celebrate its 100th anniversary this year. The company has focused on technical excellence since its inception as an equipment manufacturer, gaining recognition across Asia and expanding to the United States and Europe. In 1979, Tsurumi America Inc. was established, creating a strong network of dealers,…
Read MoreMotion opens Texas facility
Alabama-based Motion Industries has opened a new repair shop in Houston, Tex., to benefit customers in the state and the region. The new location at 10710 Sharmon Road, will be entirely dedicated to repair and services. Its facilities include CNC and manual machine tools, lifting capacities to 30 tons, and diagnostic and testing equipment within at 75,000-square-foot space. It also…
Read More‘All-of-the-above’ strategy crucial to meet U.S. copper demand: report
The Copper Development Association has released a new report, “Copper in the US: Opportunities and Challenges”, that explores opportunities the United States has in sourcing copper, along with the need or a strategy to keep it front and center. The report was commissioned by the Copper Development Association (CDA) and conducted by S&P Global Market Intelligence. The study found that…
Read MoreFirst Majestic to acquire Gatos
First Majestic is making inroads for its silver expansion mission in Mexico with a confirmation it has inked a definitive merger agreement with Gatos Silver. Gatos has a 70% interest in the Los Gatos joint venture, which owns the producing Cerro Los Gatos underground silver mine in Chihuahua, Mexico. The proposed transaction implies a total equity value for Gatos of…
Read MoreRumors of merger untrue: Metso
Metso has denied recent reports of a merger between it and the mining business of Sandvik, releasing a statement confirming its position on August 19. The initial report alleging a tie-in between it and the Swedish equipment producer came from Swedish news outlet Dagens Industri. “Market rumors have been made public regarding Metso and Swedish Sandvik’s mining business. Metso has…
Read MoreGoodyear to sell off-the-road tire unit to Yokohama
U.S.-based Goodyear Tire & Rubber Co. has signed a definitive agreement to sell its off-the-road (OTR) tire business to the Yokohama Rubber Co. for $905 million in cash. The transaction follows a previously announced strategic review of the OTR tire business in connection with the Goodyear Forward transformation plan. “The sale of the OTR business marks an important milestone as…
Read MoreMintak retiring, Park taking over at Standard Lithium
September 1 will be a day of transition for the executive cabinet at Canadian miner Standard Lithium: it is the effective date of the retirement of CEO Robert Mintak and the start date for his replacement, David Park. In a transition that it said aligns with the company’s growth strategy and next steps in value creation, Standard confirmed Mintak will…
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