Eaton wins Rolls-Royce work that could total $750 million in revenue, Crain's Cleveland Business, January 23, 2009 (Subscription)
Cleveland—In a deal that could yield more than three-quarter billion dollars of revenue over the next 40 years, Eaton Corp. will develop and supply the main engine fuel pump and engine build up sub-systems for the next generation of for the Trent XWB aircraft engine for the Airbus A350.

Former Ford plant moves closer to reopening, Toledo Blade, January 23, 2009
Maumee, Ohio—Keith Obey, who has spearheaded the effort to restart Ford Motor Co.'s former Maumee Stamping Plant, said yesterday the building has been purchased by what he called a private investor and that the building is "being prepared for manufacturing." The 800,000-square-foot plant closed its doors in 2007.

Severstal plans to shut Mingo Junction plant next month, AP via Warren Tribune Chronicle, January 23, 2009
Morgantown, W. Va.—Severstal North America will idle its electric arc furnace in Mingo Junction, Ohio, next month because of poor steel market conditions.

Upcoming Event: Alternative Energy Economic Development Symposium, Thursday, Feb. 12, 11:30 am to 2:00 pm, Metropolitan Centre, Canton. Fee: $20, includes lunch.
Sherry Hubbard, Chief of the Ohio Energy Office in the Ohio Department of Development, and Athan Barkoukis, NE Ohio Program Manager for Green Energy Ohio, will discuss incentives for investment in renewable energy. The event will include a discussion on the link between development and deployment of technologies (solar, electric, solar thermal, and wind) and outline state incentives as well as federal tax incentives available. Sponsored by Stark County Community Improvement Corp., Canton Regional Chamber of Commerce and Stark Development Board.

Earnings Reports:

• GE fourth quarter profit falls 46 percent, hurt by finance unit, by Stephen Manning, AP via Cleveland Plain Dealer, January 23, 2009
• Sherwin-Williams sees fourth-quarter profits fall, Crain's Cleveland Business, January 22, 2009 (Subscription)
• Parker Hannifin sees profits fall 27 percent, cuts earnings expectations, by Michelle Jarboe, Cleveland Plain Dealer, January 20, 2009
• Lubrizol expects 40-cents-a-share loss for 2008, Cleveland Plain Dealer, January 16, 2009
  

Owens-Illinois heralds benefits of glass with new Ideation Center, by Larry P. Vellequette, Toledo Blade, January 22, 2009
Perrysburg, Ohio—Owens-Illinois Inc. launched its new "ideation center" in its world headquarters to show clients the benefits of glass, help them design new glass containers for their products, and assist in their consumer marketing efforts.

Quality Electrodynamics helps expand Cleveland's medical imaging industry, by Sarah Jane Tribble, Cleveland Plain Dealer, January 22, 2009
Cleveland—Quality Electrodynamics, a medical imaging startup on Cleveland's East Side, plans to add to its manufacturing space and double its work force from about 40 to 80 employees during the next year.

Parker Hannifin plans to eliminate another 4,500 positions, by Dan Shingler, Crain's Cleveland Business, January 22, 2009 (Subscription)
Cleveland—Parker Hannifin Corp. expects to cut another 4,500 positions from its rolls and will have eliminated 9,000 employees by the time it’s done reducing costs to combat the global economic slowdown.

American Greetings to cut 200 jobs, to shut 60 retail stores, by Janet H. Cho, Cleveland Plain Dealer, January 22, 2009
Brooklyn, Ohio—American Greetings Corp. is closing 60 stores nationwide—including seven in Northeast Ohio—and cutting at least 200 more jobs as it continues to pare expenses during what is traditionally its strongest quarter.

Despite slump, Toyota outsells GM worldwide for first time, Toledo Blade, January 22, 2009
New York—Japan's Toyota Motor Corp. sold more cars and trucks last year than General Motors Corp., stripping the Detroit automaker of the No. 1 global sales crown.

• Toyota dethrones GM as top automaker, by Jeff Green, Bloomberg News via Akron Beacon Journal, January 22, 2009
• GM official says cash could run out by March 31, by Tom Krisher, AP Akron Beacon Journal, January 21, 2009

China, Asian economic troubles growing, by Joe McDonald, AP via Cleveland Plain Dealer, January 22, 2009
Beijing—China's economic slump deepened in the fourth quarter as the impact of the global crisis spread, data showed Thursday, adding to the threat of more heavy job losses and possible unrest.

Eaton cutting 60 jobs in Cleveland, 5,140 worldwide, by Michelle Jarboe, Cleveland Plain Dealer, January 21, 2009
Cleveland—Eaton Corp. is cutting 5,200 jobs in its attempt to save $125 million and offset dropping demand for its products and the effects of the global economic slump. The cuts include 60 workers in the Cleveland area.

Study: NE Ohio ripe for foreign business investors, by G. Patrick Kelley, Canton Repository, January 21, 2009
Akron—A University of Akron research project says there are plenty of opportunities for international companies to do business in Northeast Ohio. The report—Is the Glass Half Empty or Half Full?— is optimistic that Northeast Ohio is positioned to succeed in the global business arena, despite the current economic downtown facing the world.

Metalforming Association members express less pessimism, by Dan Shingler, Crain's Cleveland Business, January 21, 2009 (Subscription)
Independence, Ohio—Hopes are up slightly, while employment is down at metalforming shops, according to the latest monthly survey by the Precision Metalforming Association in Independence of its roughly 1,200 members across North America.

Related links:

• PMA Press Release
• PMA Full-text Report (PDF)

Fiat to take stake in Chrysler, by Stacy Meichtry and John Stoll, Wall Street Journal, January 20, 2009 (Subscription)
Rome and Detroit—Fiat SpA and Chrysler LLC on Tuesday confirmed the Italian auto maker will take at least a 35% stake in Chrysler as part of a deal to share technology and bring small cars developed by Fiat to the U.S.

• Fiat confirms plan for 35% Chrysler stake, by Luca Ciferri, Automotive News Europe, January 20, 2009 (Free registration required)
• Chrysler, Fiat discuss partnership, 2 reports say, Cleveland Plain Dealer, January 20, 2009

France ready to inject up to $7.9 billion into auto sector, by David Pearson, Wall Street Journal, January 20, 2009 (Subscription)
Paris—The French government plans to provide "massive" aid of up to $7.9 billion to the country's automobile industry to help it weather the worst crisis in decades, Prime Minister Francois Fillon said Tuesday.

• France may pump up to 6 bln euros into car industry, by Helen Massy-Beresford and Francois Murphy, Reuters UK, January 20, 2009
• EU nations seek fairness in vow to aid auto sector, by Adam Cohen, Wall Street Journal, January 18, 2009 (Subscription)

Steel jobs leave Fairlawn for Massillon, Akron Beacon Journal, January 20, 2009
Fairlawn, Ohio—Republic Engineered Products has created a new division headquarters in Massillon for its cold-finished bar products and relocated nine Fairlawn-based employees to the Massilon location.

Related story:

• Republic moves cold-bar headquarters to Massillon, by G. Patrick Kelley, Canton Repository, January 19, 2009

Brinkmanship impacts aluminum prices, by Andrea Hotter, Wall Street Journal, January 20, 2009 (Subscription)
London—Unless large aluminum producers make deeper cuts in output instead of waiting for peers to do it, prices will take years to recover from their slump, industry executives said. The crux of the problem is that consumption has collapsed by far more than the reduced supply.

Difficulties expected as Mazda, Ford split, by Bryce G. Hoffman, Detroit News via Akron Beacon Journal, January 20, 2009
Detroit—In November, Ford announced it would sell its controlling steak in Japan-based Mazda, but would retain a close, collaborative relationship. But behind the scenes, walls are going up at Mazda in Hiroshima, Japan, and at Ford in Dearborn, Mich. There are risks to both companies in changing their symbiotic relationship.

Iconic light bulb is on the way out, AP via Youngstown Vindicator, January 20, 2009
New York—The public does not seem to be aware that the phase-out of the iconic light bulb begins in three years as part of the energy bill signed in 2007. They will be edged out by light-emitting diodes, or LEDs, made from semiconductors, and compact fluorescent bulbs, known by their twisty, tubular shape.

Upcoming Events:

Solar Power: How nanotechnology is leading the way, Tuesday, Feb. 3, CWRU Nord Hall, Room 310, co-sponsored by the Great Lakes Institute for Energy Innovation, University of Toledo and The Cleveland Foundation. Free. Registration required.

Empowering Solar Energy in Ohio Conference, Thursday, Feb. 5, University of Toledo, Dana Conference Center, 3110 Glendale Avenue, Toledo. Sponsored by the Wright Center for Photovoltaic Innovation and Commercialization.

OMA requests urgent action from OMA members on FirstEnergy policy changes, Ohio Manufacturers Association, January 19, 2009
Columbus—The OMA plans to file a complaint next week on behalf of its members that have interruptible rates or contracts with FirstEnergy. The utility has modified its internal protocol as to when its customers with "interruptible" rates or contracts will have to buy power at above-market rates. To benefit from the complaint manufacturers must be listed on the filing. For more information, call the OMA at *800) 662-4463 or e-mail Kevin Schmidt.

Defense work windfall for manufacturers, by Dan Shingler, Crain's Cleveland Business, January 19, 2009 (Subscription)
Cleveland—Northeast Ohio manufacturers with defense contracts say their businesses are going strong. Crain's interviews Roger Sustar, CEO of Mentor-based Fredon Corp., Dan Moore, president of Cleveland-based Dan T. Moore Co., and Clifton Steel CEO Herb Neides (Maple Heights).

Swagelok names director of technology development, by Scott Suttell, Crain's Cleveland Business, January 19, 2009 (Subscription)
Solon, Ohio—Swagelok Co. of Solon, a producer of valves and fittings, has named Greg S. Shaw as director of technology development. Dr. Shaw will be responsible for implementing a technology assessment and development methodology for the company.

Textileather to close its Toledo factory, Toledo Blade, January 19, 2009
Toledo—Textileather Corp., a long-time Toledo manufacturer of fabric for car interiors, will close by April 30.

Two Toledo start-up firms awarded $50,000 grants, Toledo Blade, January 19, 2009
Toledo—Innovative Thin Films Ltd. and SuGanit Systems Inc. have received $50,000 grant each from Rocket Ventures, an investment arm of Toledo’s nonprofit Regional Growth Partnership.

Chinese automakers face headwinds to U.S. sales, AP via Youngstown Vindicator, January 19, 2009
Detroit—Chinese automakers looking to make the jump to the key U.S. market are facing increasingly strong headwinds, including a global financial crisis that has slowed growth where they already sell cars and sapped the potential for partnerships that would ease their expansion.

Obama’s clean-air plans put more jitters into auto industry, by Ken Bensinger, Los Angeles Times via Canton Repository, January 19, 2009
Los Angeles—Not long after assuming the presidency, Obama is expected to grant a waiver allowing more than 13 states to enforce their own greenhouse-gas emissions standards on autos.

UAW leader Ron Gettelfinger says deadline for auto makeover is unrealistic, AP via Cleveland Plain Dealer, January 19, 2009
Washington—United Auto Workers president Ron Gettelfinger suggested Monday that a mid-February deadline for General Motors and Chrysler to complete their restructuring plans may be "almost unattainable" and no formal talks had commenced between the union and car makers.