Friends of Manufacturing

Global market for plastic products to reach $1.175 trillion by 2020

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The global market for plastic products is growing at about 3% year on year, according to research from the Business Research Co. (Philadelphia) in its report, Plastics Product Manufacturing Global Market 2017. It was worth $1.06 trillion in 2016, and will grow to $1.175 trillion by 2020. The biggest segment is plastic packaging materials and unlaminated film and sheet manufacturing, which accounts for about 20% of the total.

The United States and China are neck and neck as markets for plastic products manufacturers, though China is likely to draw ahead soon, as its market is growing at 3% year on year versus 1.6% for the United States. The markets in India and Brazil, though small by comparison with China and the United States, are the fastest growing of the big economies at more than 8% annually.

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Airbus delivers 50th aircraft to Delta

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Airbus has really taken off in the Port City. The facility at Brookley Aeroplex hit another milestone on Friday, delivering its 50th plane to Delta Air Lines. 

This, just one day after the Atlanta-based carrier announced plans to buy 100 jetliners from Airbus. 

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Lithium Battery Maker to Employ Hundreds in Kentucky Plant

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A maker of lithium batteries is promising to provide an economic jolt to the Appalachian region, announcing plans Friday to relocate from California to Kentucky and build a factory employing hundreds of workers in an area reeling from the coal industry's decline.

EnerBlu Inc. announced it will invest $372 million and create 875 full-time jobs in eastern Kentucky with the production facility in Pikeville. The company also will move its headquarters from Riverside, California, bringing another $40 million investment and 110 administrative, research-and-development and executive jobs to Lexington, Kentucky's second-largest city.

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Baker Hughes reports a decline in the weekly U.S. oil-rig count

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Baker Hughes BHGE, +0.10% on Friday reported that the number of active U.S. rigs drilling for oil was down 4 at 747 this week. The decline follows increases over the last three weeks in a row. The total active U.S. rig count, which includes oil and natural-gas rigs, also fell by 1 to 930, according to Baker Hughes. January West Texas Intermediate crude CLF8, +0.40% was up 31 cents, or 0.5%, from Thursday, to $57.35 a barrel, up from $57.31 shortly before the rig data.

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