Singapore: The Purchasing Managers’ Index (PMI) for Singapore dropped 0.3 points in May to a slower expansion rate of 50.8, according to the Singapore Institute Of Purchasing And Materials Management.
Singapore: Industrial cutting system provider Hypertherm hosted an event for channel partners, where they were introduced to two new additions: plasma cutting system XPR-300 and CNC automated control system Edge Connect.
Michigan, USA: Ford Motor, facing pressure to improve profitability, announced it would cut nearly 10 percent of jobs in its North America and Asia Pacific divisions. The company’s chief executive officer, Mark Fields, will also be stepping down amidst plummeting stock prices.
Singapore: General Motors will cut jobs in its international headquarters in Singapore as part of its global efforts to reduce costs.
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Singapore: The local government will support companies in the use of advanced machine tools for prototyping and testing, said Singapore’s Finance Minister Heng Swee Keat in his Budget 2017 speech on 20 February.
Singapore: Singapore Airlines (SIA) has ordered 39 aircraft from Boeing Commercial Airplanes, as Southeast Asia’s biggest long-distance carrier plans to upgrade its fleet with fuel-efficient models in order to cut costs.
The airline signed a letter of intent with the US airframe manufacturer comprising 20 777-9s and 19 787-10s. The deal is valued at US$13.8 billion based on published list prices, and also includes options to extend orders to as many as 51 aircraft.
The 777-9s utilise the GE9X engines, which are intended primarily for use on long-haul routes. This represents a subsidiary contract to engine maker General Electric Aviation for 45 GE9X engines, which are estimated to be worth more than US$2 billion.
The airline also selected the Trent 1000 engines from Rolls Royce to power the 787-10s, which are to be operated on medium-range routes.
The 777-9s are due for delivery from the 2021/22 financial year, while the 787-10s for delivery from the 2020/21 financial year.
APMEN News, Feb 2017
Singapore: According to the Singapore Economic Development Board manufacturing output increased 21.3 percent in December 2016 on a year-on-year basis. Excluding biomedical manufacturing, output grew 16.1 percent. Overall, manufacturing output rose 3.6 percent in 2016 over 2015.
USA: President Trump has signed an executive order withdrawing the United States from the Trans-Pacific Partnership (TPP). The 12-nation deal would have significantly lowered tariffs for American imports and exports with the 11 other countries: Canada, Mexico, Japan, Australia, New Zealand, Chile, Peru, Malaysia, Singapore, Vietnam and Brunei.