Owens-Illinois to invest in Ohio sites
Owens-Illinois, Inc., will invest $11.5 million in laboratory and applied glass science research facilities, the company’s chief executive, Al Stroucken, announced in a joint press conference with Ohio Gov. Ted Strickland on Monday. The investment will create 32 new research-and-development positions at the company’s Advanced Glass Technology Center in Perrysburg, the company said. Owens-Illinois also plans to invest $6 million to start new product and manufacturing research and development at the company’s plant in Zanesville, Ohio. Owens-Illinois employs 850 people at its Perrysburg headquarters and 332 people at the Zanesville plant.
GM to double size of auto-battery lab
General Motors is investing $8 million to double the size of its automotive-battery lab in order to speed up the development of electric cars, the company said in a press release Monday. The investment will improve on-site testing of battery cell, module and pack technologies by doubling the size of the lab to 63,000 square feet. Construction on the new facility will begin this month and is scheduled to be completed this summer. The lab expansion will help the company put affordable, fuel-efficient cars on the road more quickly, Micky Bly, executive director for global electrical systems, hybrids, electric vehicles and batteries, said in a statement.
Alcoa reports loss of $201M in 1st quarter
Alcoa Inc. opened the earnings season with a narrower first-quarter loss as demand for some aluminum products picked up from a year ago and prices rose.
For the quarter that ended March 31, Alcoa on Monday reported a net loss of $201 million or 20 cents per share. That compared with a net loss of $497 million, or 61 cents a share, a year ago, when the company struggled with weak demand in the depths of the recession.
Alcoa, based in Pittsburgh, is the first company in the Dow Jones Industrial average to issue earnings results, and its performance can reflect economic trends because of its diverse customer base, which ranges from aerospace and construction to electronics and beverage cans.
From staff and wire reports