Here is today's summary of economic development news, a free service of the Economic Development Partnership of Alabama, representing Alabama's private sector investment in economic development. If you enjoy NewsFlash, thank an EDPA Partner.
ThyssenKrupp hires banks to examine options for Alabama and Brazil mills
Published: Wednesday, June 27, 2012, 10:10 AM Updated: Wednesday, June 27, 2012, 10:13 AM
MOBILE, Alabama -- ThyssenKrupp said today that it has hired Goldman Sachs and Morgan Stanley to review strategic options for its steel plants in Brazil and Calvert.
"This may involve a partnership or sale to a best owner whose strategy can better utilize the outstanding quality and fundamental competitiveness of the plants," ThyssenKrupp said in a statement. "The strategic review is being carried out with an open mind and in parallel with the further technical and commercial optimization of the plants."
ThyssenKrupp put its steel slab-making unit in Rio de Janeiro and its flat-rolled carbon steel mill in Calvert up for sale in May after years of struggling with delays and cost overruns.
ThyssenKrupp has invested a total of $15 billion in the two mills, valued together at about $9 billion.
No 'material' layoffs at Mobile shipyard from Austal shakeup, Alabama governor's office says
Published: Tuesday, June 26, 2012, 3:35 PM Updated: Tuesday, June 26, 2012, 3:58 PM
By George Altman -- Montgomery Bureau Press-Register
MONTGOMERY, Alabama -- Austal USA has told the state that its change in management will not mean a significant reduction in employees at its Mobile shipyard, the office of Republican Gov. Robert Bentley said in a statement.
"Austal has spoken with our Alabama Department of Commerce, and it appears there will not be any material scaling back of operations or reduction in the workforce at the facility in Mobile," Bentley spokeswoman Jennifer Ardis said in an email.
"In fact, Austal confirmed that they are continuing to move forward with plans to be the largest employer in the State of Alabama. The Governor is committed to working with officials at Austal and continuing the great partnership between Austal and the state."
Austal today acknowledged that its president and chief operating officer, Joe Rella, resigned on Friday.
Southeast dominates economic development awards
Staff Report Published June 27, 2012
ATLANTA - Southeastern states dominated Area Developmentmagazine's 2012 Gold and Silver Shovel awards for excellence in economic development.
Texas, Tennessee and South Carolina earned Gold Shovels, while North Carolina, Georgia, Virginia, Alabama, Louisiana, Kentucky and Mississippi picked up silvers.
The magazine, which covers corporate site selection and facility planning, noted that projects announced during the year brought "high-value-added new jobs as well as investment" to the states.
"Our annual Shovel Awards recognize state economic development agencies that drive significant job creation through innovative policies, infrastructure improvements, processes and promotions that attract new employers as well as investments in expanded facilities," the magazine's editors said. "The Gold Shovels are presented annually to the states that have achieved the most success in terms of new job creation and economic impact."
Award categories were based on state's populations: 9 million or more; 5 million to 9 million; 3 million to 5 million; and less than 3 million.
Charleston Regional Business Journal
Agency says it has power to give Ga. water
12:28 AM, Jun. 27, 2012 |
Written byRay Henry Associated Press