GE Ordered to Make Repairs and 3 Dow Movers to Watch
Alcoa’s (NYSE:AA) Wheel and Transportation division launches a production facility in Suzhou, China, representing an expansion which creates a full wheel manufacturing, distribution, sales and service network in that country. The company already has wheel facilities in North America, Europe and Japan, but this is the first wheel manufacturing facility Alcoa has opened in China.
Chevron Corporation’s (NYSE:CVX) is supported by the Kazakhstan government, said Prime Minister Serik Akhmetov at the meeting with Chevron Chairman of the Board and Chief Executive John Watson in Astana, according to the Prime-Minister’s press-service.
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General Electric Company (NYSE:GE) is being ordered by the Federal Aviation Administration to repair 300 of its turbofan engines due to bad valves that have caused two engine fires in which no one was injured. The CF34-8C and CF34-8E engines are on the Bombardier CRJ700/900 and Embraer 170/175 aircraft. Some 15 percent of the fleet for these engines are affected by the order, which were built from 2001 to 2006 at the time General Electric switched valve vendors.
Exxon Mobil Corporation (NYSE:XOM) and BHP Billiton will invest a combined $1 billion to expand the Longford gas plant in Victoria State’s Gippsland region. The endeavor will create 250 jobs with the firms constructing a separate gas conditioning plant at the Longford facility to treat gas being tapped in the Kipper, Tuna and Turrum fields in Bass Strait.
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