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Manufacturing & Engineering
Sherrill Manufacturing reorganization plan approved
SHERRILL — A little more than three years after filing for Chapter 11 bankruptcy protection, Sherrill Manufacturing’s reorganization plan received approval from the U.S. Bankruptcy Court for the Northern District of New York. On Nov. 6, Judge Diane Davis signed off on a plan that repays all Sherrill’s secured creditors and sets the company on […]
Cuomo unveils NY’s plan to build high-tech manufacturing complex in Buffalo
BUFFALO — Gov. Andrew Cuomo on Nov. 21 announced New York will build an anchor hub facility for high-tech and green-energy businesses in the city of Buffalo. The effort is part of Cuomo’s Buffalo Billion initiative to attract companies and jobs to the region. Soraa and Silevo, two California–based clean-energy companies, will invest a total
N.Y. manufacturing index registers first negative reading since May
The Empire State Manufacturing Survey general-business conditions index fell 4 points to -2.2 in November, its first negative reading since May. The Federal Reserve
Cuomo announces FuzeHub initiative to help manufacturers grow
New York Gov. Andrew Cuomo today announced the launch of FuzeHub, a new resource platform developed to spur the growth of New York manufacturers. FuzeHub
Lockheed to cut 4,000 jobs and close four plants, but not Syracuse-area site
Lockheed Martin Corp. (NYSE: LMT) announced today that it will close four plants across the U.S., cutting 4,000 jobs, by mid-2015, in response to continued
Anaren to go private with $381 million sale to Veritas
DeWITT — Anaren, Inc. (NASDAQ: ANEN) will become a private company with its planned sale to a New York City private-equity firm, and Anaren leaders say that will offer the technology firm some competitive advantages. Veritas Capital, an affiliate of Veritas Capital Fund IV, L.P., is acquiring DeWitt–based Anaren in a cash transaction worth about
Hardinge profit declines 63 percent in third quarter
ELMIRA — Hardinge, Inc. (NASDAQ: HDNG), an international manufacturer of advanced metal-cutting tools, reported that its profit fell 63 percent in the third quarter as acquisitions couldn’t offset declining internal sales. The Elmira–based manufacturer, which generates three-fourths of its sales outside North America, posted net income of $1.5 million, or 13 cents a share, in
Lockheed Martin lays off 80 in Salina, 65 in Owego
Defense contractor Lockheed Martin Corp. (NYSE: LMT) on Wednesday announced plans to lay off 80 employees from its site in Salina and 65 employees from its location
Ephesus Lighting installs LED system at URI’s Ryan Center
SYRACUSE — Ephesus Lighting, Inc. of Syracuse today announced it installed a new LED (light-emitting diode) lighting system at the Thomas M. Ryan Center in
Private-equity firm Veritas Capital to acquire Anaren for about $381M
DeWITT — Veritas Capital, an affiliate of the New York City–based Veritas Capital Fund IV, L.P., is acquiring Anaren, Inc. (NASDAQ: ANEN) of DeWitt in
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