BUSINESS DIGEST || Collecting donations


Collecting donations

VIENNA

Millwood Inc., a locally based industrial packaging equipment company, recently partnered with Northeast Ohio Adoption Services to collect donations for the local young adults who are aging out of foster care.

The donations are intended to help those young adults transition to new living situations.

Millwood said the first round of collecting donations was a success, and the company wants to continue the Giving Hearts for Fresh Starts program.

The company asks community members to donate gently used items such as televisions, kitchenware, small appliances, towels, cleaning supplies and toiletries.

Donations can be dropped off from 7:30 a.m. to 5:30 p.m. through June 29 at Millwood, 3708 International Blvd., Vienna, or at Northeast Ohio Adoption Services, 5000 E. Market St., Suite 26, Warren.

Trade seminar

CLEVELAND

The Northeast Ohio Trade & Economic Consortium and the Port of Cleveland will host a half-day seminar on Foreign-Trade Zones (FTZ).

The seminar will focus on how companies can mitigate the impact of increased import duty rates on manufacturing and distribution costs, and on “how the FTZ program can help American companies remain globally competitive,” according to a news release.

The seminar is scheduled for June 13 at the Embassy Suites in Independence. Registration begins at 8 a.m., and the seminar ends at noon.

The cost, which includes breakfast, is $60.

To register, visit the “upcoming events” section on the NEOTEC’s website, www.neotec.org.

Effects of tariffs

SANTA MONICA, CALIF.

An auto-industry analyst said the Trump administration’s proposal of imposing tariffs on automobile imports could be a “lose-lose situation for automakers and consumers alike.”

“The implementation of these tariffs would be a major blow to the entire automotive industry,” said Jeremy Acevedo, manager of industry analysis for Edmunds. “The vast majority of manufacturers produce at least some models abroad, and the build-out of these production factories cannot easily or cheaply be moved across borders. Automakers will have to contend with a significant hit to their bottom line at a time when the market is already more competitive than ever.”

Acevedo said tariffs also could result in higher prices for consumers.

“If foreign manufacturers pass the 25 percent import tax on to car buyers, then those who manufacture vehicles here can, in theory, charge that much more for their vehicles and still be price competitive,” he said.

Automobile sales

SANTA MONICA, CALIF.

Edmunds, an auto-industry analyst, forecasts a 3.5 percent year-over-year increase in U.S. auto sales for May.

General Motors, which makes the Lordstown-built Chevrolet Cruze, no longer releases monthly sales numbers, but Edmunds estimates GM’s May sales will be 13.2 percent higher compared with May 2017.

Automakers will release May sales numbers next week.

Vallourec selection

BOULOGNE-BILLANCOURT, FRANCE

Vallourec, the France-based parent company of local Vallourec Star and VAM USA, announced the appointment of R mi Dujon as group general secretary, member of the executive committee and reporting to Olivier Mallet, member of the management board.

Dujon is responsible for legal, compliance and sustainable development. He is also secretary of the supervisory board, according to a news release.

Mercedes van recall

FRANKFURT, GERMANY

Automaker Daimler said it is being told to recall models of its Mercedes-Benz Vito delivery van by Germany’s motor-vehicle authority, which has ruled that the vehicle’s diesel emissions controls do not meet legal requirements.

Daimler said Thursday it was preparing software updates for the vehicles’ engine control systems and would carry out the updates at no cost to vehicle owners.

Staff/wire reports

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