Assessment, Shipment, Payment—MAGNET Provides the Exporting Guidance

Globalization is a reality for all manufacturers—regardless of size, location, product or past performance. Even if your company is not exporting, globalization has changed your business.

Starting an export process or expanding an existing one can be challenging for small and midsized manufacturers in Northeast Ohio that lack on-staff resources and need guidance in choosing viable paths forward. Additionally, leaders must spend their time—the raw material in greatest demand and shortest supply these days—on today’s challenges, not tomorrow’s plans. This combination makes it nearly impossible for many companies to invest in their future through export development. This is why MAGNET is offering its Global Product Management (GPM) service to manufacturers in Northeast Ohio.

Learn more here.

Global Business Events Calendar

Hover over an event for more details, or click on the link for complete listing.

Global Manufacturing News Briefs

Lubrizol agrees to buy Spanish polymers company, by Robert Schoenberger, Cleveland Plain Dealer, November 3, 2011
Cleveland—Company spokeswoman Julie Young said the Merquinsa purchase gives Lubrizol more presence in Europe, expands its product offerings and gives it a factory in Barcelona.

Honda to cut U.S., Canada production by half, AP via Cleveland Plain Dealer, November 1, 2011
Detroit—Parts shortages from three months of catastrophic flooding in Thailand have forced Honda to cut U.S. and Canadian factory production by 50 percent for the second time this year, the automaker said Monday.

New Cardinal Fastener owner mobilizes, by Dan Shingler, Crain's Cleveland Business, October 31, 2011
Bedford Heights, Ohio—“We hope to close on it by Nov. 1,” said Marc Strandquist, CEO of Germany-based Wurth Group's Michigan-based Dokka Fasteners unit. He was in court representing Wurth and will oversee Cardinal going forward as it continues to operate locally under its current president, John Grabner.

Saab signs deal to be bought by Chinese firms for £88m, , October 28, 2011
London—Cash-strapped Swedish carmaker Saab signed a memorandum of understanding with Pang Da and Youngman, having previously rejected takeover offers from them.

Toyota cancels overtime at North American sites due to Thailand floods, AP via Toledo Blade, October 27, 2011
Tokyo—Toyota Motor Corp. canceled overtime production planned for this week at assembly plants in Indiana, Kentucky, and Canada and an engine factory in West Virginia as floods in Thailand disrupt parts shipments.

Steelworkers seek White House inquiry into University of Akron, China polymer connection, by Jim Mackinnon, Akron Beacon Journal, October 26, 2011
Akron—The Steelworkers, whose membership includes thousands of tire makers at Goodyear, Bridgestone Americas, Michelin and other manufacturers, asked in a letter to the White House earlier this month to“coordinate an inquiry … into the recent agreement by the University of Akron to share university research in the critical area of polymers with China’s Triangle Group.”

VW likely to be No. 1 carmaker in 2011, Bloomberg News via Akron Beacon Journal, October 25, 2011
New York—The German company’s sales, third among carmakers in 2010, will probably rise 13 percent to 8.1 million vehicles this year, based on the average of three analysts surveyed by Bloomberg News.

Area lawmakers urge action against China, Warren Tribune-Chronicle, October 25, 2011
Newton Falls, Ohio—During a visit to Venture Plastics, U.S. Rep. Timothy J. Ryan, D-Niles, and U.S. Sen. Sherrod Brown, D-Ohio, urged House of Representatives to act on a bill they said would create and protect jobs by "cracking down on Chinese currency manipulation."

• China lashes out against U.S. bill aimed at currency manipulators, Los Angeles Times, October 4, 2011
• Proposed China currency bill gives new hope to a tool & die shop in Brunswick, by Robert L. Smith, Cleveland Plain Dealer, October 3, 2011
• Senate votes to proceed on China currency bill, by Felicia Sonmez, Washington Post, October 3, 2011
  

7 U.S. firms allege China 'dumping' solar panels, New York Times via Toledo Blade, October 20, 2011
Washington— Seven U.S. solar panel makers yesterday filed a broad trade case against the solar panel industry in China, accusing it of using billions of dollars in government subsidies to help gain sales in the U.S. market.

Materion Corp. acquires China's EIS Optics Ltd. in $24 million deal, Crain's Cleveland Business, October 20, 2011
Cleveland—Materion said EIS Optics operates a 97,000-square-foot manufacturing plant in Shanghai that employs 350.

RTI to buy British firm, Warren Tribune-Chronicle, October 19, 2011
Pittsburgh—RTI International Metals Inc. said Tuesday it will spend $34 million to acquire Aeromet International PLC 's Forming Division. The British company makes titanium products closer to the final form required by customers.

PolyOne Corp. forms joint venture with Saudi firm for Middle East plant, by Scott Suttell, Crain's Cleveland Business, October 18, 2011
Avon Lake, Ohio—The joint venture will be investing in a new manufacturing plant focused on the production of specialty color concentrates with the potential for expansion into other product lines in future phases.

RPM International reports double-digit profits and a Spanish acquisition (, by Janet Cho, Cleveland Plain Dealer, October 5, 2011
Medina, Ohio—Frank C. Sullivan, RPM chairman and chief executive, said the deal to buy Grupo P&V of Barcelona, Spain, expands the Medina company's fireproofing and insulation products and is expected to help the company increase sales and market share throughout Europe.

Imported vehicles get finishing touches at U.S. port factories, New York Times via Toledo Blade, October 2, 2011
Port Newark, N.J.—Here, as at other seaports, dedicated facilities owned by individual automakers, as well as giant multibrand processing centers, shepherd autos arriving from overseas and ready them for buyers.

GE Aviation lands $450 million agreement, Cincinnati Enquirer, September 29, 2011
Cincinnati—GE Aviation in Evendale and its partner Snecma in France have landed an agreement valued at more than $450 million to supply engines for 22 Airbus A320 jets for ICBC Financial Leasing Co., Ltd, a subsidiary of Industrial and Commercial Bank of China (ICBC).

Owens-Illinois enters arbitration on overtaken plants, Blade News Services via Toledo Blade, September 29, 2011
Perrysburg, Ohio—Owens-Illinois Inc. has entered arbitration to seek payment for two plants expropriated by Venezuela's government last fall.

Cleveland-China team aims to channel $100 million in overseas cash to U.S. medical-device companies, by Michelle Jarboe McFee, Cleveland Plain Dealer, September 27, 2011
Pepper Pike, Ohio—Newsummit Pharmaceutical Group, a biomedical company based in Shanghai, and its partners in Cleveland and China have secured commitments from investors for $100 million. Executives from Newsummit are visiting Northeast Ohio this week to evaluate a dozen local medical-device companies for a slice of the first round, $30 million.

Stalking horse bidder emerges with $3.9M offer for Cardinal Fastener, by Dan Shingler, Crain's Cleveland Business, September 26, 2011
Cleveland—Wurth Group North America Inc. has agreed to buy Cardinal's assets, including its equipment, for $3.9 million, according to documents that are part of Cardinal's bankruptcy filing in Cleveland.

GM to boost role in Chinese venture; Firms working on electric autos, AP via Toledo Blade, September 21, 2011
Shanghai— General Motors Co. agreed yesterday to deepen cooperation with its flagship Chinese partner on development of electric-vehicle know-how amid pressure from Beijing to hand over proprietary technology.

Leaders discuss ways to revitalize manufacturing, by Larry Ringler, Warren Tribune-Chronicle, September 20, 2011
Rootstown, Ohio—Talk about trade and tax reform was prominent Monday as more than 170 regional business, labor, community and political leaders met to discuss ways to revitalize America's manufacturing.

GM, SAIC join to develop electric cars, Youngstown Business Journal, September 20, 2011
Shanghai—The Pan Asia Technical Automotive Center -- SAIC and GM's engineering and design joint venture in Shanghai -- will serve as the development center for the architecture, GM said.

Saab denied bankruptcy protection, AP via Cleveland Plain Dealer, September 8, 2011
Stockholm—A Swedish court on Thursday rejected Saab Automobile's application for creditor protection, paving the way for possible bankruptcy filings from labor unions.

• Sweden's Saab files for bankruptcy protection, AP via Cleveland Plain Dealer, September 7, 2011

Japanese companies could consider more U.S. investment, consul general says, by Robert Schoenberger, Cleveland Plain Dealer, September 8, 2011
Cleveland— Japanese companies may consider building more plants in the United States for backup operations after being hit with a set of natural disasaters last spring, said the country's consul general for the Midwest.

Shipping terms on an international transaction can make the difference between profit and loss

By Randolph R. Nemetz, Director, Global Affairs, MAGNET

Randolph R. Nemetz

Thanks to the weak dollar, doing business internationally is a lot more attractive to businesses in our region. In negotiating a contract to sell to a foreign party, one aspect that needs special attention is shipping terms of sale.

Check out this real-life example from our World Trade Center-Cleveland files on how shipping terms can impact a company's profit on an international sale. (More...)