Manufacturing

GENERAL ELECTRIC STOCK jumped the most in almost a decade as the new CEO Larry Culp detailed his efforts to reduce the company’s debilitating debt load, fix the ailing power business and ease lingering uncertainties weighing on the shares. The company also announced a deal to settle a Justice Department probe into its defunct subprime-mortgage unit for less than investors had feared. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER

GE soars most since 2009 as new CEO’s rescue plan gains...

NEW YORK - Larry Culp’s first appeal to General Electric Co. investors didn’t go so well back in October. This time it’s a different story.GE...
GENERAL DYNAMICS reported a profit of $3.3 billion in 2018, with its Marine Systems segment, which includes General Dynamics Electric Boat, posting operating profit of $761 million for the year. / COURTESY GENERAL DYNAMICS ELECTRIC BOAT

General Dynamics reports $3.3B profit in 2018

NORTH KINGSTOWN – General Dynamics reported a profit of $3.35 billion in 2018, a 14.9 percent increase from $2.9 billion in 2017, the company...

Five Questions With: Mary Johnson

The manufacturing worker shortage is prompting some companies to encourage almost-retirees to stay at work at bit longer, with offers of flexible schedules, job-sharing,...

BSC Industries marks 100th year

PROVIDENCE – Known as Bearings Specialty Co. at its founding in 1919 and up until a few years ago, BSC Industries Inc. is marking...
REWARDING WORK: Joe Lomastro, center, franchise owner of Signarama on Post Road in North Kingstown, with Tom Iacobucci, owner of Sears Hometown Store, and Lauren DeAquair, graphic designer.
 / PBN PHOTO/MICHAEL SALERNO

Franchisee: Joe Lomastro

Joe Lomastro | Signarama | 6855 Post Road, North KingstownThe pitch: Signarama is a full-service sign company, where custom signs, such as banners or...
TEXTRON REPORTED $1.2 billion in profit in 2018, in part due to a $419 million post-tax gain from selling its Tools & Test Equipment product line. / COURTESY TEXTRON

Textron reports $1.2B profit in 2018

PROVIDENCE – Textron Inc. reported net income of $1.2 billion for 2018, nearly quadrupling its 2017 earnings of $307 million, according to a company...
FORMETRIX INC. , spun out from NanoSteel's additive manufacturing segment, appointed a new CEO, Scott Pearson, and is planning to move its headquarters to a mixed use space in the Greater Boston Area.

Formetrix spins out from Nanosteel, appoints CEO, plans move to Mass.

PROVIDENCE – Formetrix Inc., a designer and producer of steel alloys for 3D printed components, was recently spun out of Providence-based company NanoSteel.The spin...
COLONIAL MILLS, a braided rug and accessory maker, will relocate from Pawtucket, the location shown above, to East Providence this year. / COURTESY COLONIAL MILLS

Colonial Mills to relocate to East Providence

PAWTUCKET – Colonial Mills Inc., a manufacturer of braided rugs and accessories for more than 40 years, is leaving its location in Pawtucket for...
UNITED STATES manufacturing output rose 1.1 percent from November to December. / BLOOMBERG NEWS FILE PHOTO/TY WRIGHT

U.S. manufacturing production increases by most in 10 months

NEW YORK - United States factory production expanded in December by the most in 10 months, ending the year stronger than expected thanks to a...
FOR THE FIRST TIME in 11 months, the Rhode Island seasonally adjusted unemployment rate ticked up in December 2018. The measure stood at 3.9 percent: a 0.1 percentage point increase from November but a 0.6 percentage point decrease from December 2017. / COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING

R.I. ends 2018 with 3.9% unemployment

PROVIDENCE – The seasonally adjusted Rhode Island unemployment rate ticked up month to month for the first time since January 2018 according to the...
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