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“American Factory” Owner Fuyao Glass To Raise $550 Mln, Eyes

admin May 3, 2021

China-based Fuyao Glass Industry Group, whose U.S. plant was the subject of the Oscar-winning documentary “American Factory” in 2020, plans to raise to HK$4.3 billion, or $550 million, in a stock sale amid improvement in its business this year, according to a Hong Kong Stock Exchange filing on Sunday. The glass supplier, whose auto industry customers include Toyota, Volkswagen, General Motors, Ford and Hyundai, plans to sell 101.1 million shares at HK$42.64, representing a fully diluted 3.9% stake. Fuyao’s shares trade in Hong Kong and Shanghai. Fuyao expects that China’s automobile industry “will recover and rebound in 2021” compared with pandemic-hit 2020, the readmore

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With $1 Billion Monthly Surplus, U.S. Gold Trade Shaking Off

admin April 30, 2021

U.S. gold exports topped imports by more than $1 billion in February, an increasingly rare occurrence, according to the latest government data available. It would seem that American traders in the precious metal who were unnerved by Covid-19 in the spring of 2020 are increasingly confident in the U.S. economy now. But what a ride 2020 was. In 2020, the value of U.S. gold imports tripled over the total in 2019 and was more than double to the 2016 record. Overall U.S. gold trade — exports and imports — set a record at $55.24 billion. What was the impact of that $34.68 billion import total in 2020? readmore

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The World’s First Robotics Venture Factory Is On ‘Robot Island’

admin April 29, 2021

There are more than 10,000 robot companies in China. Reportedly, less than 5% of them are doing well. But what if they didn’t all have to reinvent the wheel? Or the servomotor. Or computer vision, spatial recognition, natural language processing, gripping, navigating, or any of a host of different problems that robots need to understand in order to be useful. What if they only had to learn the specific pieces of functionality that are unique to their specific set of tasks? “70% [of each robot’s software stack] is generic; 30% is very specialized,” Blue Ocean Robotics CEO Claus Risager told me recently readmore

Business Manufacturing

Michael Collins Chose A Life On Earth Over Walking On

admin April 28, 2021

Michael Collins, whose passing at age 90 we mourn today, had been a hero of mine since childhood. But I first noticed something special about him when reading his memoir, Carrying the Fire while researching my 2008 book about the Apollo Guidance Computer, Digital Apollo. Collins wrote the best, least maudlin of the Apollo-era astronaut memoirs, with the broadest and the most pragmatic perspective on spaceflight. Writing of his childhood, he described an early encounter with the barnstormer pilot Roscoe Turner in the 1930s. “‘Roscoe had flown with a waxed mustache and a pet lion named Gilmore,” Collins wrote of the picaresque readmore

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Tesla Extends Profit Streak On Strong Q1 Sales Of Electric

admin April 26, 2021

Tesla stayed profitable in the first quarter, posting earnings and revenue figures that topped consensus expectations, helped by the electric-car maker’s robust first-quarter vehicle deliveries and sales of pollution credits to other automakers. The company also said it’s targeting annual growth in deliveries of 50% a year. The Palo Alto, California-based company led by billionaire Elon Musk reported net income of $438 million for the quarter that ended in March, with 39 cents of earnings per share on a GAAP basis, and 93 cents per share, excluding some items, beating a consensus estimate of 79 cents a share. Revenue was $10.4 billion, just ahead readmore

Category : Manufacturing

“American Factory” Owner Fuyao Glass To Raise $550 Mln, Eyes

With $1 Billion Monthly Surplus, U.S. Gold Trade Shaking Off

The World’s First Robotics Venture Factory Is On ‘Robot Island’

Michael Collins Chose A Life On Earth Over Walking On

Tesla Extends Profit Streak On Strong Q1 Sales Of Electric

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