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Toyota Donates $5M to American Center for Mobility

Toyota Motor North America (TMNA) and the Toyota Research Institute (TRI) announced today their intent to support the American Center for Mobility (ACM) as a Founder-level sponsor with a $5 million contribution.

Machine Tool Orders Rise in May, AMT Says

Machine tool orders rose in May as the industry recovers from a two-year slump, the Association for Manufacturing Technology (McLean, VA) said in a monthly report.

Northrop Grumman Lands $9.6-M Navy Torpedo Contract

The U.S. Navy has awarded Northrop Grumman Corporation (NYSE: NOC) a $9.6 million contract, with options up to $40.5 million, to produce the Transducer Array/Nose Shell Assembly of the MK 48 heavyweight torpedo.

Kennametal Names Christopher Rossi CEO

Kennametal Inc. (Pittsburgh) announced June 29 that its board of directors has appointed Christopher (Chris) Rossi as president and CEO and has named him a director. Rossi succeeds Ron De Feo, whom the board has appointed executive chairman. Both appointments are effective August 1.