Archive for February 19th, 2009
US car giants seek $21bn funding
Troubled US carmakers GM and Chrysler have asked the US government for another $21.6bn (£15.2bn) in support, on top of the $17.4bn already received.
The auto giants also plan to axe 47,000 and 3,000 jobs respectively, as well as shedding a number of car models.
The moves form part of their drastic restructuring plans submitted to [...]
Posted: February 19th, 2009 under Manufacturing News.
Comments: 1
Corus hit by cuts in credit insurance
Corus has become the first leading UK industrial company to find itself caught by the reduction of cover to its suppliers by one of the world’s largest credit insurers.
Euler Hermes said it was reducing the amount of cover it was willing to write for suppliers of the country’s largest steelmaker as a result of a [...]
Posted: February 19th, 2009 under Off Topic, Steel Comment.
Comments: none