Industry News

Tennant Co. has expanded its Floor Coatings business with the purchase of assets and liabilities related to the commercial floor coatings business of from Crawford Laboratories, Inc., and affiliates, the company said. Crawford Laboratories and its affiliates are owners of the Florock Polymer Flooring brand of Chicago, Illinois. Florock, a third-generation, family-run business, offers a range of floor coating..."/>
Tennant Coatings Acquires Florock Polymer Flooring Brand from Crawford Laboratories
Caterpillar Inc. has laid off an undisclosed number of workers at its Tucson Proving Ground in Green Valley, as part of a global cost-cutting effort. Caterpillar has made some job reductions but is not specifying numbers of cuts by location, company spokeswoman Lisa Miller said. Caterpillar's Tucson Proving Ground employed about 300 workers as of May, when it announced it would move a regional headquarters and some 600 jobs to a new office in..."/>
Caterpillar trims workforce at Tucson Proving Ground [The Arizona Daily Star, Tucson]
SolarCity for $2.6 billion, merging two businesses dominated by Elon Musk into an energy and transportation company. The proposed deal must be approved by the Securities and Exchange Commission and stockholders. Tesla CEO Musk, who did not participate in an independent panel's evaluation of the deal, said he would not vote."/>
Tesla to acquire SolarCity in $2.6 billion deal [Mercury News]
Kennametal Inc. will eliminate 1,000 jobs over the next 15 months as the Downtown-based toolmaker cuts deeper into expenses to deal with sluggish demand from coal miners and gas drillers. The company, which has been laying off workers and selling and closing plants over the past year to deal with the downturn, announced the cut to its workforce of 12,000 people Monday as it reported a financial loss and an 18 percent drop in sales in the April-June quarter."/>
BRIEF: Kennametal to eliminate 1,000 jobs amid downturn [The Pittsburgh Tribune-Review]
Magna International. A new wave of collaborative robots will likely be introduced at plants operated by Magna over the next five to 10 years, Simmons said Monday during a talk at the Management Briefing Seminars, sponsored by the Ann Arbor based Center for..."/>
Magna predicts smarter robots coming soon to auto plants [Detroit Free Press]
SolarCity shareholders. First, the solar energy systems installer said it once again will install fewer solar energy systems this year than it had been predicting-- another blow to investor confidence in SolarCity's growth promises, even after the company greatly scaled back its expansion plans last fall. Then, Tesla Motors and SolarCity said they had reached a formal agreement to merge, but at a slightly lower price than the companies had..."/>
A disappointing start to the week for SolarCity [The Buffalo News, N.Y.]
Tesla Motors formally agreed to acquire SolarCity in a $2.6 billion deal that will combine electric vehicles and battery storage with rooftop solar energy systems. Merging the two companies would turn Tesla into a one-stop shop for sustainable energy, allowing customers to walk into a Tesla store not only to buy an electric vehicle, but also SolarCity's rooftop solar panels,..."/>
Tesla offers $2.6 billion for SolarCity, lower shareholder buyout than initial offer [The Buffalo News, N.Y.]
Lockheed Martin. Lockheed Martin will invest an initial $13 million over three years to establish a Science Technology Engineering Leadership and Research Laboratory to undertake R&D to solve the technology challenges of the future, and work in the art of the possible."/>
Lockheed Martin to Establish Leading Edge Research & Development Facility in Melbourne
International Shipholding Corp. has filed for bankruptcy and will attempt to reorganize its business under a New York federal bankruptcy court's protection. The cargo company said it intends to continue operating without interrupting its business. It's unclear how the filing will affect International Shipholding's previously announced plans to move its corporate headquarters to New Orleans."/>
BRIEF: International Shipholding bankruptcy may complicate move to New Orleans [The Advocate, Baton Rouge, La.]
Greenbrier Companies, Inc. today announced that it has closed on the previously announced acquisition of a 19.5% ownership stake in Amsted-Maxion Cruzeiro for $10 million. Based in Cruzeiro, Brazil, Amsted-Maxion Cruzeiro is a manufacturer of castings and components for railcars and other heavy equipment. In addition to Greenbrier, Amsted-Maxion Cruzeiro is owned by Amsted Rail Brasil and Iochpe-Maxion S.A., each holding 40.25% of..."/>
Greenbrier closes strategic investment in Brazil with stake in railcar castings and component manufacturing business
Terex Corporation today announced second quarter 2016 income from continuing operations of $109.6 million, or $1.00 per share, on net sales of $1.3 billion. In the second quarter a year ago, the reported income from continuing operations was $75.9 million, or $0.70 per share, on net sales of $1.4 billion. Excluding a benefit of $67.7 million related to the release of certain tax valuation allowances, after-tax charges of $19.4 million from restructuring and..."/>
Terex Announces Second Quarter 2016 Results
FreightCar America, Inc. today reported results for the second quarter ended June 30, 2016, with a net loss of $0.5 million, or$ per diluted share, compared to net income of $7.4 million, or..."/>
FreightCar America, Inc. Reports Second Quarter 2016 Results
Macquarie Infrastructure Corporation reported its financial results for the second quarter of 2016 including net income..."/>
Macquarie Infrastructure Corporation Reports Second Quarter 2016 Financial Results, Increased Dividend
Douglas Dynamics, Inc., North America’ s..."/>
Douglas Dynamics Announces Record Second Quarter 2016 Results

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