Honda Manufacturing of Indiana LLC, which produces the Civic Sedan and alternative-fuel Civic Natural Gas at its plant in Greensburg, on Monday launched a second shift, bringing the south-central Indiana factory to full capacity.
The expansion also creates about 1,000 new jobs at the Decatur County plant. Hiring began in June, in virtually every major production process, including stamping, welding, painting and final assembly operations.
The expansion follows a return to normal production levels at all seven of the Honda automobile plants in North America after the disruption of parts supplies as a result of the March 11 earthquake and tsunami in Japan.
Local Navistar workers eligible for benefits
The Indiana Department of Workforce Development on Monday announced that certain employees of Navistar International Truck Development and Technology and Navistar Truck Reliability Center are eligible for benefits under the federal Trade Adjustment Assistance program.
The U.S. Department of Labor ruling was issued Oct. 20. It applies to workers who lost some or all of their work hours on or after January 2010. TAA benefits are for those workers who are displaced because of foreign imports or shifts in production out of the country.
Services include training, job search assistance and relocation allowances. Temp workers who were assigned to Navistar are also eligible for benefits. Eligible workers can obtain information from WorkOne centers or at www.workoneworks.com.
Caterpillar earnings up as metals hunt booms
Caterpillar Inc., the world’s largest construction and mining-equipment maker, posted a third-quarter profit and sales Monday that topped analysts’ estimates as demand rose for shovels and drills used to dig up metals.
Net income climbed 44 percent to $1.14 billion, or $1.71 a share, from $792 million, or $1.22, a year earlier, the Peoria, Ill., company said in a statement. The average of 15 analysts’ estimates compiled by Bloomberg was for $1.57. Sales increased 41 percent to $15.7 billion from $11.1 billion.
Kimberly-Clark profit falls, though sales rise
Rising costs led Kimberly-Clark Corp., maker of Kleenex and Huggies, to report an 8 percent decline in third-quarter net income Monday.
Like many companies, Kimberly-Clark is struggling with higher costs for oil, wood, pulp and other materials it needs to make and transport its products. To offset costs, Kimberly-Clark has raised prices on some products, risking driving away budget-conscious customers.
Net income fell to $432 million, or $1.09 a share. That was down from $469 million, or $1.14 a share, last year. Revenue was a bright spot, rising 8 percent to $5.38 billion.
Mattel buying parent of Thomas, Bob
Mattel has agreed to buy the company behind Thomas the Tank Engine and Bob the Builder for $680 million in cash.
The owner of Barbie, Hot Wheels and Fisher Price toys announced Monday that it is buying Hit Entertainment from a consortium led by private equity firm Apax Partners. Mattel Inc. already markets many Thomas & Friends toys under a license that extends until 2014. The deal is expected to close in 2012.
