Tag Archives: Industrial Goods (TRBC level 2)

Leonardo will invest $ 440 million to upgrade a plant in southern Italy -CEO | Instant News


MILAN, 20 Jan (Reuters) – Leonardo’s aerospace and defense group will invest 360 million euros ($ 436 million) over the next few years to modernize four plants based in southern Italy, Chief Executive Alessandro Profumo said on Wednesday.

Speaking at the digital event, Profumo said the investment was aimed at upgrading factories in Pomigliano and Nola, near Naples, as well as sites in Grottaglie and Foggia, in the Apulia region.

These factories produce components for the C27J military transport aircraft, ATR commercial and military turbo-prop aircraft, as well as parts for Boeing and Airbus aircraft.

This investment, part of a plan dubbed ‘Betomorrow 2030’, aims to make factories more flexible so that the same production line can produce components for a wide range of products, Profumo said.

Profumo added that the state-controlled group will also support investment to reduce the digital divide in southern Italy and increase cooperation with universities through research and innovation. ($ 1 = 0.8262 euros) (Reported by Francesca Landini; Editing by David Gregorio)

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Germany’s hard coal imports could fall by a fifth by 2021 – VDKi | Instant News


FRANKFURT, Jan 15 (Reuters) – German hard coal imports in 2021 could fall 18.6% year-on-year to 26.7 million tonnes, according to forecasts of the VDKi lobby group on Friday, citing lower use by steelmakers. in the COVID-19 crisis and price competition with gas and renewable energy in power generation.

The coal importer group also published preliminary data for the past year. It said imports had fallen to 32.8 million tonnes in 2020, a 24% decrease from 2019. (reporting by Vera Eckert; editing by Thomas Seythal)

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The German economy is expected to grow 3.5% this year – BDI | Instant News


BERLIN, Jan 12 (Reuters) – The German BDI industry association said on Tuesday that it expects Europe’s largest economy to grow 3.5% this year after gross domestic product fell by about 5% in 2020 due to the COVID-19 pandemic.

The BDI forecast is less optimistic than the government forecast published in October, in which Berlin forecast gross domestic product to recover at a 4.4% expansion rate.

The Federal Statistical Office will release a short forecast for 2020 full-year GDP on Thursday. The government will update its GDP growth forecast for 2021 later this month. (Reporting by Michael Nienaber; editing by Thomas Seythal)

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UPDATE 1-The German economy is expected to grow by 3.5% this year – BDI | Instant News


(Added export estimates, Russwurm quote)

BERLIN, Jan 12 (Reuters) – The German BDI industry association said on Tuesday that it expects Europe’s largest economy to grow 3.5% this year after falling about 5% in 2020 but will not be able to return to pre-pandemic levels until next year the soonest.

The BDI forecast is less optimistic than the government forecast published in October, in which Berlin forecast gross domestic product to recover at a 4.4% expansion rate.

BDI President Siegfried Russwurm said the economy will not be able to return to pre-crisis levels in 2021 due to the second wave of the pandemic.

“But there has to be a good chance that it will happen in the first half of 2022,” added Russwurm.

The Federal Statistical Office will release a brief estimate for the 2020 full-year GDP figures on Thursday. The government will update its GDP growth forecast for 2021 later this month.

BDI said it expected Germany’s export-oriented industrial sector to boost recovery this year as the global economic outlook for 2021 has improved. The lobby group sees exports soaring 6% this year after falling about 11% in 2020.

“The election of Joe Biden as US President facilitates the pathway for multilateral solutions and joint initiatives for fair competition in world markets,” Russwurm said.

“Our company will benefit from China, a global growth driver, and an agreement on an investment pact, even if it’s not perfect.”

The industry group called on the government to increase public investment in infrastructure over the next decade, cut corporate taxes and reduce bureaucracy for companies trying to innovate.

BDI warned that the newly introduced CO2 price could force the energy-intensive sector to move to other countries with less restrictive climate protection regimes. Therefore, Berlin must think of a “correction mechanism” to avoid job losses. (Reporting by Michael Nienaber; editing by Thomas Seythal and Nick Macfie)

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UPDATE 1-German industrial output, exports rose in November | Instant News


(Adds details, analyst, background)

BERLIN, Jan 8 (Reuters) – German industrial output and exports rose in November, adding to signs that the manufacturing sector provided a boost to Europe’s largest economy in the fourth quarter.

Industrial output rose 0.9% for the month and exports rose 2.2%, figures released by the Federal Statistical Office on Friday showed.

It was the seventh month in a row that both readings rose, following lockdowns in March and April to contain the first wave of the coronavirus pandemic that fueled an economic crisis that is expected to push Germany into its worst recession since World War Two.

Detailed output data show that manufacturing and construction compensated for the drop in energy output, which fell by nearly 4%.

Imports surged by 4.4%, which resulted in the current account and trade balance shrinking from the previous month.

Germany imposed another lockdown in November that was strengthened and extended this month as it struggled to contain a second wave of infections, with restaurants, theaters, fitness studios and all other non-essential businesses forced to close.

“Data published today confirms that German manufacturers are holding back the restrictions imposed in November much better than many feared and suggest that the economy is almost certain to expand in Q4 last year,” Andrew Kenningham, Chief European Economist at Capital Economics said in a note.

“However, we suspect it will contract again in Q1 due to the lockdown … unlikely to ease until spring.” (Reporting by Joseph Nasr and RenĂ© Wagner; Editing by Maria Sheahan and John Stonestreet)

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