Electric vehicle maker Workhorse Group Inc said on Wednesday it had requested more information from the U.S. Postal Service after it lost a multibillion-dollar contract to Oshkosh Defense for making a new generation of postal delivery vehicles.
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CHICAGO (Reuters) - An aerospace parts maker in California is struggling to procure cold-rolled steel, while an auto and appliance parts manufacturer in Indiana is unable to secure additional supplies of hot-rolled steel from mills.
An operator stacks heavy gauge steel brace used for industrial workbench leg at Tennsco s factory in Dickson, Tennessee, U.S. February 17, 2021. Tennsco/Handout via REUTERS
Both companies and more are getting hit by a fresh round of disruption in the U.S. steel industry. Steel is in short supply in the United States and prices are surging. Unfilled orders for steel in the last quarter were at the highest level in five years, while inventories were near a 3-1/2-year low, according to data from the Census Bureau. The benchmark price for hot-rolled steel hit $1,176/ton this month, its highest level in at least 13 years.
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BERLIN (Reuters) - German braking systems maker Knorr-Bremse said its majority shareholder Heinz Hermann Thiele, who shaped the company since buying it from his then-employer in 1985, has died unexpectedly at the age of 79.
FILE PHOTO: The Lufthansa logo is pictured at Frankfurt Airport in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski
Thiele was also a major shareholder in Lufthansa, becoming a highly visible public figure last year when he was portrayed as the main obstacle to the state bailout the airline needed to survive the coronavirus crisis.
“The Board of Directors and the Supervisory Board mourn the loss of a global and visionary entrepreneur who has been shaping the global rail and commercial vehicle industry for decades,” Munich-based Knorr-Bremse said in a statement on Tuesday.
Bombardier Inc said on Thursday it would halt Learjet aircraft production and slash about 1,600 jobs this year as it becomes a pure-play business jet maker, after reporting an adjusted loss before interest and taxes for the fourth quarter due to the coronavirus pandemic.