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Manufacturing

Alaska corporation buys Selex facility in Hancock County

By LISA MONTI  Tyonek Services Group Inc. announced May 10 the acquisition of Selex Galileo’s avionics system integration facility at Stennis International Airport in Hancock County for an undisclosed amount. The company said Tyonek Services Overhaul Facility – Stennis will install state-of-the-art technology into aircraft and is expected to create at least 26 jobs over the next two years. Selex ...

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Oxford readies effort to replace departing Caterpillar

By JACK WEATHERLY Oxford already has its net out to snag a tenant when Caterpillar Inc. flies away. “Project Butterfly,” a play on the departing manufacturer’s name, is what the Oxford-Lafayette County Economic Development Foundation, calls its effort. “It’s a mission to (fill) the Caterpillar facility as rapidly as possible,” Jon Maynard, president and chief executive of the foundation, said in ...

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Huntington Ingalls beats first quarter revenue estimates

MBJ staff Huntington Ingalls Industries reported on Thursday first quarter 2016 revenues of $1.76 billion, up 12.3 percent from last year. Earnings per share in the quarter were $2.87, compared with $1.79 a year earlier. Increases were primarily driven by strong operating performance at Ingalls Shipbuilding in Pascagoula, according to the company. The company also operates a shipyard at Newport ...

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Caterpillar to close Oxford plant, eliminate 240 jobs

By JACK WEATHERLY Caterpillar Inc. announced Thursday that it will shut down its Oxford plant and eliminate 240 jobs. The shutdown will take 12 to 18 months and will not affect the Peoria, Ill.-based  heavy-equipment manufacturer’s operations in Corinth and Booneville, said spokeswoman Rachel Potts. It is part of a restructuring announced in September in which 10,000 of its 114,000 jobs ...

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Entergy unveils $1 million educational initiative

MBJ staff Entergy Mississippi announced on Thursday its People Power Initiative , an investment of more than $1 million from shareholders to help prepare the state’s work force and raise its competitive level to attract business and industry. Unveiled at the Mississippi Economic Council’s annual meeting, it comes on the heels of a $75,000 commitment parent Entergy Corp. made to ...

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No injuries reported in explosion at box maker’s plant

RICHLAND — Authorities say an explosion at a cardboard box manufacturing plant in Richland triggered a chemical spill, but no injuries were reported. Richland Fire Department spokesman Rob Martin said workers safely evacuated the International Paper facility after the explosion early Thursday. Ernie Shirley of the state Department of Environmental Quality said the explosion damaged tanks that spilled a hazardous ...

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Reshoring effort returning, keeping jobs in U.S.

By JACK WEATHERLY  The stream of millions of U.S. jobs going overseas has stopped, according to a report from the Chicago-based Reshoring Initiative. The net gain on reshoring and foreign investment in the United States was measured at 67,000 jobs nationwide in 2015, the organization said. That matched the loss of jobs, according to the initiative. Since the low point ...

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Hancock Fabrics stores to close by July 31

TUPELO — The liquidation of Hancock Fabrics is expected to be completed by July 31. That’s according to a filing with the Securities and Exchange Commission on Monday. Great American Group of California is conducting the sale of merchandise — along with furniture, trade fixtures and equipment – at the company’s remaining 185 stores. Last Thursday, Great American’s bid for ...

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Reed’s Metals hires Garcia

Reed’s Metals, metal roofing and metal building manufacturer in Brookhaven, recently hired Carlos Garcia to direct its Finance Department. Garcia, a native of Wesson, has variety of experience and graduated from the University of Mississippi with his degree in Accounting in 2006. Garcia, who has been in banking for five years, is charged with developing new financial procedures for the ...

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Nissan March US sales rise 13 percent to break record

Nissan’s March sales rose 13 percent to hit a record for any month in its history, a strong sign that U.S. auto sales are continuing to grow despite predictions that they have peaked. The Japanese automaker says it sold 163,559 Nissan and Infiniti models last month, led by the Rogue small SUV. Rogue sales rose 1 percent to nearly 28,000, ...

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