Capital Goods
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The Pentagon’s proposed $495.6 billion budget for the coming fiscal year would provide $154 billion for weapons purchases and research, $25 billion less than projected a year ago, according to the Defense Department. more
Alex and Ani LLC CEO Giovanni Feroce has left the company, according to a release issued Thursday afternoon, leaving founder and creative director Carolyn Rafaelian to assume the role of interim CEO while the board of directors conducts a search for a replacement. more
Textron Inc. on Friday completed the acquisition of Beech Holdings LLC, parent company of Witchita, Kan.-based planemaker Beechcraft Corp. Textron’s Cessna business and Beechcraft will form a new segment within the company called Textron Aviation. more
Looking to expand its capabilities and markets, Nortek has agreed to pay about $260 million in cash for the heating, ventilation and air conditioning business of Thomas & Betts Corp., a wholly-owned subsidiary of ABB Ltd., an international power and automation manufacturer. more
Construction employment in Rhode Island rose 1.9 percent in February compared with the same period last year, adding 300 jobs for a total of 16,400 jobs, the Associated General Contractors of America reported Friday. more
The city has started the second year of work in its $40 million road re-surfacing project. Funded with a voter-approved bond in 2012, the road project completed 32 miles of repaving last year and began this year’s work Wednesday on Moses Brown Street in the Wayland Square neighborhood. more
Gains in manufacturing are helping power the U.S. out of the winter doldrums, while homebuilding shows signs of lagging behind. more
Construction employment in Rhode Island rose six-tenths of a percent in March compared with the same period last year, adding 100 jobs for a total of 16,300 jobs, the Associated General Contractors of America reported Friday. more
The brainchild of cousins Dave Evans and Charlie Dewey, the Evans Capacitor Co. in East Providence has been inventing, developing and producing unique, high-energy, density capacitors since it opened its doors in 1996. Today, Evans Capacitor’s hybrid capacitors have established a niche for very high-power, high-reliability pieces with aerospace and defense applications. more
The V-22 Osprey’s deadliest accident stemmed partly from “undeniably intense” pressure to show progress for the new tilt-rotor aircraft, according to the U.S. Marine Corps commandant. more
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