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New orders for manufactured goods climb in June
New orders for manufactured goods in June increased $3.9 billion (1 percent) to $400.5 billion, according to the Commerce Department. This was the highest level since the series was first stated on a NAICS basis in 1992 and followed a 3.6 percent increase in May.
New orders for manufactured durable goods in June increased $4.2 billion (2 percent) to $216.7 billion, revised from the previously published 1.4 percent increase. This followed a 6.4 percent May increase. It marks the third consecutive monthly increase.
Computers and electronic products, up four of the last five months, had the largest increase, $3.8 billion (10.8 percent) to $38.9 billion. This was led by communications equipment, which increased $2.1 billion.
New orders for manufactured nondurable goods decreased $0.3 billion (0.2 percent) to $183.9 billion.
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Hitachi wins IDEA Award for industrial design excellence
One of Hitachi Power Tools’ products, an 18-Volt cordless drill, won a 2005 IDEA Award for industrial design excellence. The unique ergonomic design of the drill, model DS18DMR, which was introduced by Hitachi in September 2004, has filtered through to all new Hitachi tool releases. Hitachi’s “inspire” design is now recognized by the Industrial Designers Society of America (IDSA), sponsor of the awards along with Business Week magazine.
The ISDA is dedicated to growing public recognition that design is a critical part of the product innovation process with a strong impact on profit.
The DS18DMR cordless drill was judged on innovation, aesthetics, solution benefit, ecological responsibility and how the design improved business. It was reported that Hitachi’s design addressed ergonomic and safety issues while adding additional functionality and a new aesthetic to the power tool industry.
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Kimberly-Clark to eliminate 6,000 jobs
Kimberly-Clark recently announced plans to consolidate production at fewer facilities as part of a competitive improvement initiative. The company anticipates selling or closing approximately 20 manufacturing facilities, or 17 percent of the company’s worldwide total. An additional four facilities will be streamlined. Seven other facilities will be expanded.
Kimberly-Clark estimates a net workforce reduction of about 10 percent, or approximately 6,000 employees, by the end of 2008.
The initial phase of the cost reduction initiatives will occur between now and mid-2007 and will include the sale, closure or streamlining of 15 of the facilities and the expansion of 3 others.
After tax charges are expected to total approximately $355 million to $390 million. The company plans to designate these charges as unusual items in future quarterly earnings news releases.
The company will report on the progress of these strategic cost reduction activities on a quarterly basis and provide information about future phases as specific projects are approved and implemented.
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