Posted: 07 Oct 2009 05:26 PM PDT

PITTSBURGH (AP) - Alcoa says it earned $77 million in its third quarter as cost-cutting helped the aluminum producer return to profitability. It says global aluminum demand is expected to grow 11 percent in the second half of 2009.

The results reflect cost-cutting by Alcoa as it tried to keep pace with lower orders from the aerospace, automotive and construction industries. Alcoa says it earned $268 million, or 33 cents per share, in the year-earlier period.

Aluminum demand fell with the global economy late last year. Stockpiles rose and prices plunged. Alcoa responded by slashing production and cutting costs.

Analysts predicted a loss of 9 cents per share.

Automotive Equipment - Chicago Tribune

Posted: 07 Oct 2009 08:54 PM PDT

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Startup carmaker unveils prototypes - Jackson Clarion-Ledger

Posted: 07 Oct 2009 09:44 PM PDT

TUNICA — A startup car company run by a Chinese businessman unveiled four prototype vehicles on Tuesday that it hopes to build at a proposed multibillion-dollar car plant in northwestern Mississippi.

GreenTech Automotive Inc. planned to break ground later in the day on what officials said would be a $6.5 billion plant on 1,500 acres Tunica County. The company said it has an option to buy more land as needed.

State officials have met with the company's owner, Xiaolin "Charles" Wang, but they have not discussed whether the company will be receiving any incentives to start the project.

"Because it's an ongoing project, we are not at liberty to make a comment on this," Melissa Medley, a spokeswoman for the Mississippi Development Authority, told The Clarion-Ledger. "We are certainly being supportive from the standpoint of we are watching as this company tries to pull together their capital to bring this project to fruition."

Wang said the plant hopes to eventually employ 4,500 people and produce up to 250,000 fuel-efficient cars a year. That's a fraction of the number of employees listed in a messy lawsuit between Wang and his former partner, Yung "Benjamin" Yeung, that in June made the plans for the plant public.

Documents for the lawsuit showed plans for 25,000 employees, an unusually high number in a modern manufacturing era that stresses cost savings by relying on efficiencies and automation.

An automotive plant that produces 250,000 cars a year typically employs 2,000 to 3,000, said Lindsay Chappell, a Nashville-based Automotive News writer who covered the industry for more than 20 years.

The Nissan manufacturing plant in Canton produced nearly 300,000 vehicles in 2007 with about 3,500 employees.

Toyota is investing about $1.3 billion for the Blue Springs plant that will hire approximately 2,000 people. It is scheduled to build the Prius, the world's best-selling hybrid. Toyota sold 158,000 Priuses in the U.S. in 2008.

GreenTech attorney Bill Brabec had told The Associated Press on Monday that the company eventually would build 1 million cars a year. Tuesday, Wang said that figure was too high.

Reports: Auto parts plant sold - Spartanburg Herald-Journal

Posted: 08 Oct 2009 12:14 AM PDT

According to the reports, Laepple intends to focus capital on its German operations. Terms of the sale were not released.

LSP's $60 million plant in Union employs around 150 people and supplies stampings and assemblies for the BMW X6 manufactured in Spartanburg County, the company's Web site says.

Madrid-based Gestamp is building a $90 million automotive parts stamping operation near the new Volkswagen plant in Tennessee.

Officials for both companies could not be reached for comment Wednesday. Adrena Powell-Baker, director of the Union County Economic Development Board, said her office was still waiting for confirmation about the deal on Wednesday.

LSP was founded in 2005 and was the first automotive supplier in Union County.

The Spartanburg Area Regional Transit Agency (SPARTA) will host a job fair from 8 a.m.-12 p.m. of Friday at the Hangar at First Baptist Spartanburg.

The event is intended to connect local jobseekers with companies who are hiring or to give them information about furthering their education.

Several local agencies that offer job services in Spartanburg County will be in attendance, including the S.C. Employment Security Commission, the Spartanburg County Adult Education Center, Urban League of the Upstate, Goodwill Job Connection, Career Source, United Way of the Piedmont, Upstate Fatherhood Coalition and Spartanburg Community College.

Chick-Fil-A will provide a lunch. There will be drawings for prizes and giveaways.

For information call Marc Keenan at 595-2710, or e-mail mkeenan3@charter.net.

ROUND ROCK, Texas

Dell Inc. said Wednesday it will close a desktop computer manufacturing plant in Winston-Salem, N.C., by the end of January.

The computer maker said 905 people will be laid off, with around 600 to be let go next month. The plant was opened in 2005.

Dell was promised more than $300 million in state and local incentives to open the plant. But it was required to invest $100 million, create 1,700 jobs by September 2010 and maintain those jobs for 10 more years. If those terms weren't met, the company would forfeit the incentive package.

Dell said it would comply with the terms of the incentive agreement.

Compiled from staff and wire reports