IEN Radio

Eric Sorensen

Radio for manufacturing and engineering professionals. New industrial products, news and technical articles.

  1. LISTEN: Packaging Giant Closing Factory, Selling Division Amid Escalating Financial Scandal

    1D AGO

    LISTEN: Packaging Giant Closing Factory, Selling Division Amid Escalating Financial Scandal

    Last September, Gerresheimer's stock plunged after German regulators announced an investigation into potential accounting rule violations and compliance irregularities.  The packaging maker's issues started when BaFin, Germany’s federal financial authority, began looking into a potential bill-and-hold scandal. The company may have recognized €35 million in inflated revenues for some contracts before the revenue was actually realized.  In February, as the German manufacturer hired a second auditing firm to review accounting irregularities, the company also announced plans to cut costs, including the sale of Centor, its U.S. subsidiary in Ohio which makes packaging systems for dispensing prescription drugs.  Gerresheimer also announced plans to close a glass factory in Chicago Heights, Illinois, laying off 172 workers and offshoring production to factories in Italy and India. The layoffs at Gerresheimer Moulded Glass Chicago will take place on September 30, 2026, according to a local report.  A company spokesperson told IEN, "The planned closing of our facility in Chicago Heights is one of the measures of our comprehensive transformation program. It is a global program aimed at reducing costs and improving performance, including an optimized utilization of our global production network." After rejecting a takeover bid from U.S. rival Silgan earlier this month, the manufacturer faces heightened scrutiny. According to German financial media company Aktiencheck, BaFin has expanded its investigation even further as it looks into possible misstatements of millions in leasing liabilities, a review of supposed development costs and potentially inaccurate valuations of other company divisions.  Still, the company expects to make up to €2.4 billion euros in 2026 fiscal year. #GenZ, #manufacturing, #skilledtrades, #workforce, #futureofwork, #HVAC, #tradesjobs, #careers, #podcast, #manufacturingjobs, #industry40, #automation, #youngprofessionals, #workforcedevelopment, #careergrowth, #training, #education, #techcareers, #industrialcareers, #nextgen

    2 min
  2. LISTEN: New Alabama Factory Looks Like Rolling Hills

    6D AGO

    LISTEN: New Alabama Factory Looks Like Rolling Hills

    JST Corp. is a Japanese company that makes electronic connectors found in nearly every industry, from the automotive and medical markets to robotics, gaming and even amusement. The company’s plant in Guntersville made every cable assembly used in The Las Vegas Sphere. This week, JST announced a new project, a $500 million expansion effort in North Alabama. The move will create 80 new jobs and add 540,000 square feet. The component maker is familiar with expansion projects—it now has more than 70 facilities in 17 countries—but in some cases it has design aspirations that are particular.  For example, renderings of JST’s project in Guntersville are striking—the factory looks like rolling hills with a few loading docks. The connector maker wants the new site to incorporate a “natural setting” on the 240-acre property at Conners Island Business Park. More of a peninsula, Conners Island is about 40 minutes southeast of Huntsville. JST said the location is strategic given its proximity to Alabama’s auto manufacturing industry. However, Kevin Lauret, plant manager for the new facility, said the type of property also played a key role.  The architectural design is meant to reflect and protect the natural setting adjacent to Lake Guntersville. The company’s development philosophy is heavily influenced by Japanese beliefs that view land and nature as sacred.  #manufacturing, #advancedmanufacturing, #industrialdesign, #factorydesign, #sustainability, #greenmanufacturing, #architecture, #industrialarchitecture, #japanesedesign, #innovation, #automation, #supplychain, #automotiveindustry, #economicdevelopment, #madeinusa, #manufacturingjobs, #smartfactory, #engineering, #construction, #futureofwork

    3 min
  3. LISTEN: GM, Ford Asked to Support U.S. Weapons Supply Chain as Wars Drain Inventory

    APR 22

    LISTEN: GM, Ford Asked to Support U.S. Weapons Supply Chain as Wars Drain Inventory

    Senior defense officials in the Trump administration approached General Motors and Ford about supporting the U.S. military equipment supply chain, a source told the Detroit Free Press. The anonymous source said the separate conversations with CEOs Mary Barra and Jim Farley took place as early as last year. ****Original Post: https://www.ien.com/supply-chain/video/22965095/gm-ford-asked-to-support-us-weapons-supply-chain-as-wars-drain-inventory **** The Pentagon reportedly wants to use the automakers’ workforce and facility capacity to boost weapons production as wars in Ukraine and Iran have strained U.S. inventory. The Wall Street Journal first reported the discussions, noting that officials described the request as a “matter of national security.” The Journal also reported that German manufacturing is shifting toward defense production as the automotive sector combats a slump in demand and growing competition from China, with the government pushing to convert struggling operations into defense contractors. According to the Detroit Free Press, GM and Ford would likely not directly produce weapons but instead make structural components for subcontracting to weapons manufacturers. Relevant capabilities could include casting, stamping, forging and working with plastics and other composites. The conversations remain exploratory with no defined details. #DefenseIndustry #ManufacturingNews #AutoIndustry #Ford #GM #NationalSecurity #SupplyChain #MilitaryProduction #DefenseManufacturing #IndustrialBase #USMilitary #ArsenalOfDemocracy #WarProduction #IndustrialStrategy #Geopolitics #GlobalManufacturing #FactoryCapacity #IndustryTrends #BusinessNews #Production

    2 min

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Radio for manufacturing and engineering professionals. New industrial products, news and technical articles.