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New Incentives for Equipment Orders in Tax Bill

Tuesday, June 10, 2003
 
The tax-relief bill just passed by the U.S. Congress contains a new 50-percent expensing allowance for machine tools and other equipment ordered between May, 2003, and December 31, 2004, and placed in service by December 31, 2004, according to the Association for Manufacturing Technology (AMT). This replaces the temporary 30-percent allowance enacted in 2002. “The 50-percent expensing allowance for all manufacturers will prove a real boost for (tool-and-equipment builders and buyers),” says Albert W. Moore, AMT president. “It will add jobs by enabling America’s manufacturers to more rapidly improve their productivity.” For more, visit www.amtonline.org.

Tower Oil & Technology Gains ISO Registration

Tuesday, June 10, 2003
 
Tower Oil & Technology Co., Chicago, IL, has been registered to ISO 9001:2000. The company manufactures lubricants for metalforming, metal removal, rollforming, tube forming and other metalworking processes.

Canadian Automakers Trim Production

Monday, June 09, 2003
 
Weak U.S. sales has forced automakers in Canada to trim production, with more cuts possible over the summer, according to analysts interviewed by The Canadian Press. Production cuts, say the analysts, may very well lead to layoffs at Canadian assembly and parts plants. Ford and General Motors already have announced lower production for the third quarter—down 15 percent and 6 percent, respectively--while DaimlerChrysler is looking at a second-quarter U.S. operating loss, which may lead to production cuts at its Canadian plants.

 

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