AGP Executive Report
Last update: an hour agoFactory Momentum: U.S. manufacturing expanded for a 10th straight month in October, with the PMI rising to 55.5. Factory job growth hit a five-year high, and September orders beat expectations. New Capacity: Hyundai plans to invest $450 million in its Alabama plant for future SUV and extended-range electric vehicle production. U.S. Steel has broken ground on a $1.9 billion direct-reduced-iron facility in Arkansas, while ACT-ion opened a Texas pilot plant for cathode materials. Pharma Manufacturing: Lonza will acquire five U.S. contract manufacturing sites from Merck, adding about 1,100 employees and expanding its U.S. footprint; the deal is expected to close in 2027. Trade Policy: The White House paused new robotics and industrial machinery tariffs while directing trade negotiations, but left open the option of restrictions or incentives to spur domestic production.
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