To counter declining profits, Air Products will implement a global cost reduction plan to reduce capacity and costs. "First, we have shut down or will divest several underutilized facilities within our gases and chemicals segments," says chairman and CEO John P. Jones. "Second, we are implementing cost reductions to improve productivity, including balancing engineering resources with project activity. And third, we are reducing the number of management positions in the company to streamline our structure. Collectively, these actions will result in the elimination of 461 positions worldwide." The program is aimed at saving $38 million in fiscal 2004.As part of the restructuring, Air Products will shut down two liquid oxygen/liquid nitrogen plants at undisclosed locations. The company is also actively seeking a buyer for its $65 million to $70 million European methylamines business and is setting up its US methylamines business for divesture, having already closed its methanol and ammonia plant in Pensacola, Fla., notes Bane of America Securities analyst Mark Gulley.

In the compact backhoes, a much higher percentage of machines are coming from overseas suppliers. Terramite is the leading supplier in this category, and it produces its machines in West Virginia. Nebraska''s Allmand Bros. is another strong domestic supplier. Three other smaller suppliers -- Dig-It, Waldon and Ingersoll Equipment (not to be confused with Ingersoll-Rand) -- also manufacture in the drillpressvises US. The three top suppliers -- Terramite, Kubota and Allmand Bros. account for over 80 percent of the machines sold annually The other five companies in the market fight for the balance of what is left, although that will likely change soon in my opinion.

In a report, the panel said it is necessary to leave the gates open for ''''at least a few years'''' and to monitor drillpressvises any subsequent changes to the area''s ecosystem.Since Yatsu earlier pledged to live up to the panel''s recommendations, the gates are likely to remain open for a long period once they are opened.The panel made its recommendations after examining the findings of a ministry research team that gathered and analyzed samples of water and sludge drillpressvises from the area.The 12-day probe, which began March 15, covered water quality, organic materials and nutrient salts such as nitrogen and phosphorus in the sludge and soil inside and outside the 7,050-meter-long dike for the 1,710-hectare reservoir.

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