Eden Prairie-based MTS Systems said its purchase of Roehrig Engineering is expected to close this summer.
Manufacturing
Minnesota’s labor force rebounded in May, driven in part by the construction and manufacturing sectors, although the state’s annual job-growth rate continues to lag the national average.
Quad/Graphics’ plant closure comes after other firms, including Creative Memories and Verso Paper, laid off area employees in recent years.
Despite a legal headquarters relocation, Medtronic is retaining its workforce in Minnesota, which remains a national leader based on med-tech jobs and concentration of medical device manufacturers.
The company said that, while it plans to relocate its headquarters from Fridley to Ireland, it will retain its “operational headquarters” in the Twin Cities.
A two-person committee appointed by the med-tech giant concluded that allegations against Medtronic’s leaders are “without merit”; it’s now seeking dismissal of shareholder lawsuits.
Longtime 3M employee Nicholas Gangestad is replacing David Meline, who had served as the company’s chief financial officer since 2011.
Essar Steel Minnesota, which recently landed $450 million in financing to support its planned Iron Range facility, denied media reports that it is for sale.
Wayzata Investment Partners has completed the sale of Grede Holdings to New York-based private equity firm American Securities.
To reach that goal the Environmental Protection Agency is setting customized targets for each state.
The Grand Rapids-based company, called Magnetation, is extracting iron ore from what has been considered waste rock left over from decades of earlier mining operations.
Willing to boldly go where no manufacturer has gone before.
Exports of manufactured goods climbed to a new high, but exports overall ticked down following modest increases in recent years.
National sales tied to the recreational boating industry increased amid higher demand and the introduction of new products.
Cargill significantly expanded capacity at a Vietnam plant, a move that will result in the addition of roughly 50 jobs.
Although local manufacturing executives are more confident in their firms’ future than they have been during the last six years, they are also concerned about health care costs, government policies, and a worker shortage.
The company said planned improvements to its existing Bayport facility will bring jobs that pay an average of $19 an hour, plus benefits.
While the diversified manufacturer fell just short of analysts’ expectations for sales and earnings, it saw revenue gains in most areas, led by growth in its health care products.