Archive | Manufacturing

United logo

United Furniture buys former Lane plant for $1.45 million

United Furniture Industries was the winning bidder for the former Lane Furniture Industries plant in Verona. United offered $1.45 million for the 475,000-square-foot facility . Doug Hanby, United’s chief financial officer, told the Daily Journal that the company will use it as a manufacturing facility for stationary furniture, and hopes to open it during the first […]

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Posted in Business news, Economic development, Furniture, Manufacturing, National, Northeast Mississippi, Tupelo1 Comment

Cooper Tire logo

Cooper Tire sells interest in China joint venture for $262 million

Cooper Tire and Rubber Co. said today it has closed on a deal to sell its 65 percent stake in its joint-venture operation in China for $262 million. The Cooper Chengshan (Shandong) Tire Co., or CCT,  was a joint-venture between Cooper and Chengshan Group Co. The Wall Street Journal said last month  Chengshan was buying Cooper’s share for $284 million, […]

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Posted in Business news, Cooper Tire, International, Manufacturing, National, Northeast Mississippi, Tupelo0 Comments

Philips logo

Philips confirms 49 ‘temporary’ layoffs at Tupelo plant

Philips Lighting today confirmed it had laid off some workers at its Tupelo plant, but said there’s no reason for alarm. “We did announce 49 temporary layoffs of hourly workers,” said Sylvie Casanova, a spokeswoman for Philips North America. Casanova said it’s a seasonal, cyclical move tied to the usual slowdown in construction across the country […]

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Posted in Business news, Community Development Foundation, Economic development, Employment and jobs, International, Manufacturing, Mississippi Development Authority, National, Northeast Mississippi, Tupelo, Unemployment1 Comment

KIOR logo

KiOR files for bankruptcy; Mississippi subsidiary doesn’t

From the Associated Press:  Biofuel maker KiOR Inc. has filed for bankruptcy, although its Mississippi subsidiary has not, preserving the chance that its Columbus plant could be sold quickly. The company, based in Pasadena, Texas, filed for Chapter 11 bankruptcy protection late Sunday in U.S. Bankruptcy Court in Delaware, where it’s incorporated. KiOR defaulted on […]

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Posted in Business news, Economic development, Energy, Manufacturing, State0 Comments

Cooper Tire logo

Cooper Tire drives to $48M profit in third quarter

Cooper Tire & Rubber Co., which employs 1,300 workers at its Tupelo manufacturing facility,  today reported third-quarter net income of $48 million, or 77 cents a share.  That compares to a loss of $168,000 for the same period last year, when the company was in the midst of  a merger with India-based Apollo Tyres. Cooper’s […]

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Posted in Business news, Cooper Tire, International, Manufacturing, National, Northeast Mississippi, Tupelo0 Comments

villa_logo

Villa International adding 75 jobs in Belmont

The Mississippi Development Authority announced that Villa International, a manufacturer of luxury furniture for motorhomes, announces the company is locating operations in the former Falcon Products facility in Belmont, in Tishomingo County. The project represents a $250,000 corporate investment and will create 75 jobs over a five year period. “I am proud to welcome Villa International […]

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Posted in Business news, Economic development, Employment and jobs, Manufacturing, National, New business, Northeast Mississippi0 Comments

Cooper Tire logo

Cooper Tire to sell stake in China plant for $284 million

Cooper Tire & Rubber Co. confirmed today that its joint-venture partner in China, Chengshan Group Co. Ltd., has exercised its option to buy Cooper’s 65 percent state in the Cooper Chengshan (Shandong) Tire Company Ltd, or CCT. According to the Wall Street Journal, Chengshan Group has offered to buy Cooper’s stake for $284.5 million. In […]

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Posted in Business news, Cooper Tire, International, Manufacturing, National, Northeast Mississippi, Tupelo1 Comment

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