Archive | Manufacturing

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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

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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

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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

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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, Tupelo0 Comments

roxul

Roxul opening 600K-square-foot Byhalia facility Sept. 24

Roxul is officially opening its 600,000-square-foot manufacturing plant in Byhalia next Wednesday. Roxul Inc. is based in Canada and is a subsidiary of Rockwool International, based in Denmark. The company makes insulation from natural stone and recycled content. The Marshall County facility is its first in the U.S. Roxul Inc. makes stone wool insulation from natural stone and […]

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Posted in Business news, Economic development, International, Manufacturing, Mississippi Development Authority, National, New business, Northeast Mississippi0 Comments

Stack of coins

NAM study: Federal regulations cost economy $2 trillion

According to a study by the National Association of Manufacturers, complying with federal regulations costs Americans $2.028 trillion in lost economic growth annually, or about 12 percent of total GDP that could be invested back into the nation’s businesses.  More from NAM: The study, conducted by economists Nicole V. and W. Mark Crain, concluded that manufacturing […]

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Posted in Business news, Economic development, Manufacturing, National0 Comments

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