March 12 (Reuters) – United Technologies Corp’s
Sikorsky helicopter unit could be acquired by another big
defense company, but the potential for a big tax bill means the
maker of Black Hawk helicopters will more likely be spun off
into a standalone company, analysts said.
UTC shares were up 1.9 percent on Thursday as company
executives were scheduled to discuss alternatives for Sikorsky,
including a split-off, at an investor day.
March 11 (Reuters) – United Technologies Corp will
explore splitting off its Sikorsky helicopter unit, including a
spinoff into a standalone company, the U.S. manufacturer said.
The company’s board authorized the review, which also could
include a sale of the maker of Black Hawk helicopters. Sikorsky
had $7.5 billion in sales last year. The review is expected to
finish before the end of the year.
Niskayuna, NEW YORK, March 11 (Reuters) – General Electric
Co expects to sell 500 of its more highly efficient gas
power turbines in the next 15 years, a company executive said on
Wednesday during a meeting to spotlight the U.S. conglomerate’s
ability to innovate.
The H-class gas turbine is designed to be more efficient at
converting natural gas to electricity than older turbines. It is
a critical new product for GE’s power business — the company’s
biggest industrial segment — and its prospects are being
closely watched by Wall Street.
(Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) Chief Executive Officer Jeff Immelt earned roughly 8 percent increases in his salary and cash bonus in 2014, the U.S. conglomerate said in its proxy statement on Tuesday, despite a sluggish performance by GE’s shares last year.
Immelt’s salary rose to $3.75 million while his cash bonus increased to $5.4 million.
NEW YORK, March 5 (Reuters) – St. Paul-based 3M Co,
one of the world’s largest manufacturers and the maker of
Post-it notes, will take new steps to ensure that its suppliers
of paper, pulp and packaging provide materials that come from
sustainably logged timber.
The new paper-sourcing policy, aimed at preventing the
destruction of fragile forests, comes after pressure on 3M from
environmental activists, who accused the company of outdated
NEW YORK (Reuters) – St. Paul-based 3M Co, one of the world’s largest manufacturers and the maker of Post-it notes, will take new steps to ensure that its suppliers of paper, pulp and packaging provide materials that come from sustainably logged timber.
The new paper-sourcing policy, aimed at preventing the destruction of forests, comes after pressure on 3M from environmental activists, who accused the company of outdated practices that jeopardized fragile forests.
(Reuters) – U.S. chief executive officers are modestly more upbeat about the economy and almost half plan to increase capital spending over the next six months, a business group survey said on Tuesday.
CEOs expect U.S. gross domestic product to rise by 2.8 percent this year, compared to a projection of a 2.4 percent increase a quarter earlier, according to the first-quarter survey by the Business Roundtable.
NEW YORK, Feb 25 (Reuters) – German automaker Daimler AG
plans to offset higher costs for technology to cut
carbon dioxide emissions with material cost savings for at least
the next several years, Chief Financial Officer Bodo Uebber said
The cost of fuel-efficiency technology is a challenge for
big automakers, particularly as tumbling energy prices encourage
consumers to buy larger, less-efficient models.
Feb 23 (Reuters) – Congestion at the U.S. West Coast ports
could take as much as two months to unwind, according to port
and trade group officials, with retailers and other companies
bracing for further shipment delays after the apparent
resolution of a months-long labor dispute.
A tentative labor agreement involving 29 ports was announced
late on Friday involving 20,000 dockworkers. Tensions over their
lack of a contract since July had led to chronic cargo backups.
But port officials and companies warned it will take time to
restore a normal flow of traffic. [ID: nL1N0VV0KZ]
NEW YORK, Feb 19 (Reuters) – Diversified U.S. manufacturer
Emerson Electric Co is “moving to being more of a buyer”
- after shedding businesses worth $3.5 billion in recent years -
and would consider multi-billion-dollar acquisitions, the
company’s president said on Thursday.
Emerson is still exploring $500 million to $1 billion worth
of divestitures to focus the business, but President Edward
Monser said in an interview: “We’re moving to the acquisition
phase. I think we’ve done the clean-up that we needed to do.”