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Barings Acquires £145.2M Urban Logistics Portfolio From BlackstonePAID CONTENT
Property Week
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12 June 20255 min readBarings Acquires £145.2M Urban Logistics Portfolio From Blackstone
Property Week
12 June 2025
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Jetzero Plans $4.7 Billion Plant In North Carolina, Aims To Create 14,500 JobsGREENSBORO, N.C. (AP) — JetZero Inc. announced plans Thursday to build its first manufacturing plant for a next-generation passenger jet in central North Carolina, a project that if successful would create more than 14,500 jobs there in a decade.
The California-based startup intends to build the factory at Greensboro's airport, investing $4.7 billion. The planned hirings from 2027 through 2036 would be the largest job commitment in North Carolina history, according to Gov. Josh Stein.
The company previously identified Greensboro as one of three finalists for the factory to build its fixed-wing — also known as all-wing or blended-wing — Z4 aircraft, which JetZero says will be 50% more fuel-efficient than traditional tube-and-wing airliners.
JetZero has said it's already received about $300 million in investment in the Z4 project, including a U.S. Air Force grant to build and fly a demonstrator model by 2027.
JetZero is designing its greenfield factory to leverage the latest digital and industrial AI tools to ensure the most efficient and cost-effective production and operating model.
United Airlines and Alaska Airlines also are project investors and have made conditional purchase agreements for their fleets, the company said. JetZero aims for the planes to go into service in the early 2030s, with a goal of completing 20 airplanes per month at full production.
Stein, on hand with JetZero executives and other officials for the formal announcement at Piedmont Triad International Airport in Greensboro, cited North Carolina's robust aerospace industry and the first manned powered flights at Kitty Hawk by the Wright brothers in 1903.
"North Carolina is the perfect location," Stein said. "North Carolina was first in flight. We are also the future of flight."
The jobs would pay minimum average salaries of more than $89,000, according to the state Department of Commerce, which provided details of the project earlier Thursday to a state committee that awards economic incentives.
State and local monetary and training incentives for JetZero and the project described at the committee meeting could exceed $2.3 billion by the 2060s if investment and job-creation thresholds and other requirements are met.
A portion of state incentives awarded by the committee — more than $1 billion over 37 years — is based on a percentage of income taxes withheld from plant workers' paychecks. The incentives also include up to $784 million from Guilford County and Greensboro and $450 million from the General Assembly to help with infrastructure, officials said. The project includes a research facility for composite structures.
A commerce department official said that JetZero, headquartered in Long Beach, California, looked for over a year for a plant location, examining 25 sites in 17 states.
JetZero, currently with just 225 workers, enters a jet purchasing market dominated by industry behemoths U.S.-based Boeing and European Airbus.
"We have already shown strong commercial interest and momentum to meet the real airline demand for this aircraft," CEO Tom O'Leary said. "So this is more than just a factory. It's a launchpad for a new chapter of American aerospace."
While a variant of the Z4 would have tanker and transport uses in the military, JetZero has said that it would focus first on building a commercial jetliner with about 250 seats and a range of 5,000 nautical miles.
The 5-year-old company says the plane's shape will reduce drag and the mounting of engines on the top and back of the plane will make it much quieter than traditional airliners. The Z4 would run on conventional jet fuel but could be converted to hydrogen fuel, according to JetZero.
JetZero says Z4 travelers will board through larger doors and into shorter but wider cabins, and aisles will be less congested as bathrooms will be far away from galleys where meals are prepared.
"It's going to deliver a better passenger experience than you've ever had before on any other plane," O'Leary said.
The state is already home to more than 400 aerospace companies. And the Piedmont Triad airport has emerged as an industry hot spot, with Honda Aircraft placing its headquarters there and Boom Supersonic building its first full-scale manufacturing plant for next-generation supersonic passenger jets.
The central location and easy access to interstates also lured Toyota to build an electric battery plant in adjoining Randolph County.
North Carolina's previous largest economic development project, measured by employment, was revealed in 2022, when Vietnamese automaker VinFast announced plans to build an electric vehicle manufacturing plant in Chatham County, promising 7,500 jobs.
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12 June 20255 min readJetzero Plans $4.7 Billion Plant In North Carolina, Aims To Create 14,500 Jobs
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12 June 2025
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General Motors Invests $4B To Expand Gas And Electric Vehicle Manufacturing Facilities In Michigan, Kansas, And TennesseeGeneral Motors has announced plans to invest $4 billion over the next two years to expand its vehicle manufacturing operations in Orion Township, Michigan; Kansas City, Kansas; and Spring Hill, Tennessee. The company produces gas-powered and electric vehicles under the Chevrolet, GMC, and Cadillac brands.
At the Orion Assembly plant in Michigan, GM will begin producing full-size SUVs and light-duty pickup trucks in early 2027. This shift will make Factory ZERO in Detroit-Hamtramck the dedicated assembly site for GM’s electric lineup, including the Chevrolet Silverado EV, GMC Sierra EV, Cadillac ESCALADE IQ, and GMC HUMMER EV models.
In Kansas City, Kansas, GM’s Fairfax Assembly will begin production of the gas-powered Chevrolet Equinox in mid-2027, with plans to start building the 2027 Chevrolet Bolt EV by the end of this year. Additional investments are expected for GM’s next generation of affordable electric vehicles at the site.
At Spring Hill Manufacturing in Tennessee, the company will add production of the gas-powered Chevrolet Blazer in 2027, joining existing production lines for the Cadillac LYRIQ and VISTIQ EVs, as well as the Cadillac XT5.
In a recent quote, Mary Barra, Chair and CEO, General Motors, said, “We believe the future of transportation will be driven by American innovation and manufacturing expertise. Today’s announcement demonstrates our ongoing commitment to build vehicles in the U.S and to support American jobs. We're focused on giving customers choice and offering a broad range of vehicles they love.”
Mark Reuss, President, General Motors, added, “Today’s news goes well beyond the investment numbers — this is about hardworking Americans making vehicles they are proud to build and that customers are proud to own. As you travel the country, you can see firsthand the scale of our manufacturing footprint and the positive economic impact on our communities and our country.”
Corning invests $1.5B to expand solar component manufacturing facility in Michigan The company plans to add 400 new advanced manufacturing jobs, bringing its total workforce in Saginaw County to 1,500.
ElectroCraft expands motor control manufacturing plant in MichiganThe expansion will improve operational performance, enable faster turnaround times and produce more reliable supply for customers across multiple industries.
Daimler Truck invests $285M to upgrade automotive manufacturing plant in MichiganThe funds will be invested in DTNA’s internal combustion engine (ICE) platform and research and development facilities.
Merck Animal Health invests $895M to expand manufacturing facility in Kansas The facility will support large molecule vaccine production and create more than 200 new jobs.
Marvin to open new window and door manufacturing plant in KansasInitially, the facility will employ 100 workers, but Marvin hopes to increase that number to 600 workers by 2028.
GAF to build new plant in Kansas to manufacture roofing materials and shingles The plant will be used to manufacture roofing products, including GAF Timberline HDZ and GAF Timberline ArmorShield II shingles.
Hyosung HICO invests $51M to expand transformer manufacturing facility in Tennessee The expansion will deepen Hyosung HICO’s footprint in Memphis and further strengthen its role in the U.S. energy infrastructure sector.
NOVONIX invests $4.6M to open synthetic graphite manufacturing facility in TennesseeNOVONIX has received approval to acquire land for its second mass production facility to meet the growing demand for synthetic graphite in the battery sector.
Blow Pops manufacturer invests $97.7M to expand production plant and distribution center in TennesseeThe expansion of its manufacturing plant and distribution center in Covington will bring Charms’ total employee count to nearly 500 workers.
This map shows where manufacturers are choosing to invest their resources, whether they are building new production facilities or expanding existing plants.
Plant Service
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12 June 20255 min readGeneral Motors Invests $4B To Expand Gas And Electric Vehicle Manufacturing Facilities In Michigan, Kansas, And Tennessee
Plant Service
12 June 2025
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Gm Announces $4 Billion Investment In Its Domestic Manufacturing PlantsGeneral Motors (GM) has announced it plans to invest $4 billion over the next two years to expand production of gas and electric vehicles in the U.S. Facilities in Michigan, Kansas and Tennessee will add finished vehicle production capabilities, giving the company the ability to build over two million vehicles domestically each year.
“We believe the future of transportation will be driven by American innovation and manufacturing expertise,” says GM Chair and CEO Mary Barra. “Today’s announcement demonstrates our ongoing commitment to build vehicles in the U.S and to support American jobs.”
This announcement comes just weeks after the company said it would invest $888 million in its Tonawanda Propulsion Plant to build new sixth-generation V-8 engines.
The United Auto Workers union praised GM's announcement, saying it will bring good jobs back to the U.S. and help to rebuild the domestic auto industry.
“GM’s decision to invest billions in American plants and prioritize U.S. workers is exactly why we spoke up in favor of these auto tariffs,” said UAW President Shawn Fain. “We have excess manufacturing capacity at our existing plants, and auto companies can easily bring good union jobs back to the U.S. They can prove the naysayers wrong by investing in our communities and putting workers before corporate greed. GM is showing that it can be done.”
Industry Week
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11 June 20255 min readGm Announces $4 Billion Investment In Its Domestic Manufacturing Plants
Industry Week
11 June 2025
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Ecopro Halts $1.2 Billion Quebec Battery Plant As Tariffs Weigh On Ev MarketEcoPro BM, a South Korea–based battery materials manufacturer, announced that it will pause construction on its $1.2 billion plant in Bécancour, Quebec, starting in early June. This interruption stems from pressure from U.S. tariffs and slower-than-expected EV demand, which have introduced significant uncertainty into the North American market. Although the company didn’t specify a date, its statement noted that the decision followed “several weeks” of internal discussions as it navigates a shifting policy landscape .
EcoPro clarified that the suspension is temporary, but conceded that it’s too soon to say how long the pause might last given current market conditions. This isn’t the first delay at the Bécancour site, work was previously halted twice last year. Despite these interruptions, the facility, which began construction in fall 2023, remains targeted for production in early 2026 under the original schedule.
Also Read AESC $1.6 Billion Battery Plant in Florence on Hold Due to Economic Concerns
Originally, Ford was a partner in this venture, but the automaker pulled out last year, citing evolving EV technologies and cost considerations. Even after Ford’s exit, EcoPro expressed confidence in the project’s long-term viability and reaffirmed its intent to continue construction. Nonetheless, the current tariff environment and weak EV growth have forced the company to pause and reevaluate its next steps.
Also Read $1.85 Billion North America’s Largest Hydrogen Plant Breaks Ground in Lancaster, California
This construction pause reflects broader challenges facing Canada’s battery supply chain, as cross-border dependencies, trade friction, and uneven EV adoption continue to create instability. Still, EcoPro remains actively engaged with automakers and battery producers in an effort to readjust and proceed when conditions improve. While the company labels the suspension temporary, it acknowledges that timing for resumption will depend on broader market clarity and policy stability.
Project Name: EcoPro BM Battery Materials Plant
Total Investment: CAD 1.2 billion (~USD 900 million)
Location: Bécancour, Quebec (midway between Montreal and Quebec City)
Developer: EcoPro BM (South Korea-based)
Original Timeline:
Construction began: Fall 2023
Production targeted: Early 2026
Latest Update:
Construction paused: Early June 2025
Reason: Temporary halt due to U.S. tariffs and softening EV demand
Previous pauses: Occurred twice in 2024 due to market and design challenges
Former Partner: Ford Motor Company (left in 2024, citing shifting EV tech and costs)
Construction Review
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11 June 20255 min readEcopro Halts $1.2 Billion Quebec Battery Plant As Tariffs Weigh On Ev Market
Construction Review
11 June 2025
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Gm Commits $4 Billion To Expand U.S. Vehicle ProductionIllustration courtesy of General Motors
KANSAS CITY, KS—General Motors has announced a sweeping $4 billion investment across its U.S. manufacturing facilities over the next two years, aimed at increasing domestic production of both internal combustion and electric vehicles.
This announcement follows last month’s commitment of $888 million to GM’s Tonawanda Propulsion plant in Buffalo, New York, which will support
the company’s next-generation V-8 engine.
Key Plant Expansions:
“We believe the future of transportation will be driven by American innovation and manufacturing expertise,” said GM Chair and CEO Mary Barra. “This investment reflects our continued commitment to building vehicles in the U.S. and supporting American jobs while giving customers the freedom to choose from a wide range of vehicles they love.”
GM’s U.S. operations include 50 manufacturing and parts facilities across 19 states, with 11 dedicated assembly plants. Nearly one million Americans—employees, suppliers, and dealers—are economically connected to GM.
“This is about more than just dollars—it’s about American workers building vehicles they’re proud of, and customers proud to drive,” said GM President Mark Reuss. “You can see the real economic impact of our footprint as you travel across the country.”
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11 June 20255 min readGm Commits $4 Billion To Expand U.S. Vehicle Production
Assembly Magazine
11 June 2025
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Honeywell Acquires Sundyne For $2.16 BillionHoneywell announced that it acquired Sundyne from private equity firm Warburg Pincus for $2.16 billion in an all-cash transaction.
The company expects the acquisition of Sundyne, a designer, manufacturer and aftermarket supporter of highly-engineered pumps and gas compressors for process industries, to be immediately accretive to its sales growth and segment margins as well as to adjusted EPS in the first full year of ownership.
Honeywell added that the deal would help unlock growth potential for its UOP's value chains in refining and petrochemicals, liquefied natural gas and clean and renewable fuels.
Unified under the Honeywell Forge platform, the combined solution provides a scalable, full-spectrum approach that strategically positions Honeywell in the energy transition.
"Merging Sundyne's differentiated products with Honeywell's leading technology and R&D capabilities positions our business for significant growth," Honeywell Energy and Sustainability Solutions President and CEO Ken West said. "By enhancing our end-to-end process technology and critical equipment offerings, this acquisition allows us to provide improved solutions for our customers."
The completion of this acquisition follows Honeywell's announcement of the planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials businesses, which will result in three publicly listed industry leaders with distinct strategies and growth drivers.
Since December 2023, Honeywell has announced a number of strategic actions to drive organic growth and simplify its portfolio, including $13.5 billion of accretive acquisitions.
In addition to Sundyne, these acquisitions include the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products and Johnson Matthey's Catalyst Technologies Business.
Honeywell also completed the sale of its Personal Protective Equipment business to Protective Industrial Products last month.
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10 June 20255 min readHoneywell Acquires Sundyne For $2.16 Billion
Manufacturing Net
10 June 2025
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Pentagon Requests $3.5 Billion For Ngad In Fiscal 2026The Pentagon is requesting $3.5 billion for its F-47 Next Generation Air Dominance (NGAD) program, a slight jump from previous expectations months after the announcement of Boeing winning the contract.
Defense Secretary Pete Hegseth outlined the spending plan June 10 in testimony to the House Appropriations Defense subcommittee, though the Pentagon has not provided a full breakdown of its upcoming budget request. The $3.5 billion total is up from $3.19 billion projected in the department’s previous fiscal 2025 spending plan.
“The F-47 will significantly strengthen America’s air power and improves our global position,” Hegseth said in the testimony. “It will keep our skies secure—even as it ensures we are able to reach [our] adversaries wherever they may hide. The decision to proceed with the F-47 is the first of several decisions to maintain air dominance into the future.”
The testimony did not explain those further decisions. But the U.S. Air Force is also poised to make a production decision on the first increment of its Collaborative Combat Aircraft (CCA) program along with moving forward on a second increment this year. The Pentagon will also request $804 million for CCA in fiscal 2026.
While fiscal 2026 deliberations are beginning, the Pentagon still has four months left of fiscal 2025 with no budget in place. While the department has not yet provided additional information on the $3.5 billion for NGAD, it will likely include $400 million for F-47 that is included in a $150 billion reconciliation package that passed the House and is under consideration in the Senate.
Aviation Week Network-Factory
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10 June 20255 min readPentagon Requests $3.5 Billion For Ngad In Fiscal 2026
Aviation Week Network-Factory
10 June 2025
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Raytheon Wins $646 Million Hardware Contract For Naval RadarRaytheon, an RTX business, was awarded a $646 million contract to continue producing AN/SPY-6(V) radars for the U.S. Navy. This is the fourth option exercised from the March 2022 hardware, production and sustainment contract that is valued up to $3 billion over five years.
Under this contract, the U.S. Navy will receive four additional radars, increasing the total amount of radars under contract for procurement to 42.
Barbara Borgonovi, president of Naval Power at Raytheon, said, "SPY-6 enables the U.S. Navy to see further than they've ever seen before, providing sailors with more time to respond to detected threats. This latest contract builds on our decades of experience and technical expertise in developing modular, scalable, and highly maintainable radars."
SPY-6 is one of several radar programs designed and manufactured at Raytheon's Radar Development Facility in Andover, Massachusetts, a 30,000-square foot site supporting the production of diverse types of radars for U.S. and allied forces. This vertically integrated and highly automated site includes sophisticated radar testing and integration happening around the clock.
The majority of the work under this contract will take place at the Andover facility through 2028.
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09 June 20255 min readRaytheon Wins $646 Million Hardware Contract For Naval Radar
Manufacturing Net
09 June 2025
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India Converts Adversity Into Accomplishment: Afcons Builds World'S Highest Single-Arch Railway Bridge, 35M Taller Than Eiffel Tower, In Himalayan TerrainMUMBAI, India, June 9, 2025 /PRNewswire/ -- When many international construction giants shied away from the formidable challenge of building the world's highest single-arch railway bridge in the treacherous Himalayan terrain, Afcons rose to the occasion and turned adversity into achievement. Towering 359 metres above the river and 35 metres higher than the Eiffel Tower in Paris, the bridge now stands as a marvel of engineering. Now operational, it connects the Kashmir Valley to the Indian subcontinent by rail for the first time. The bridge is designed to withstand earthquakes and bomb blasts and is a testament to resilience and innovation.
Afcons Infrastructure, the leading global EPC company of the Shapoorji Pallonji Group, has constructed this engineering marvel, showcasing its exceptional engineering prowess and ability to deliver world-class infrastructure in the most challenging terrains.
The 1.3 km long bridge is part of the Government of India's ambitious Udhampur-Srinagar-Baramulla Rail Link (USBRL) Project, which aims to connect Jammu & Kashmir to the rest of the country through an all-weather railway connectivity. The design life of the bridge is of 120 years, showcasing robust engineering standards.
The Chenab Railway Bridge incorporates several unique features that set new benchmarks in bridge engineering. It is designed to withstand extreme wind speeds of up to 266 km/h (74 m/s), making it resilient against harsh environmental conditions. In addition, it has been engineered to resist seismic forces of Zone-V, the highest-intensity earthquake zone in India. Notably, it is also India's first railway bridge designed to resist blast loads, underscoring a new level of safety and structural fortification. The bridge has been constructed with built-in redundancy; even if a pier or trestle were to be removed, it would remain operational at a restricted speed of 30 km/h and would not collapse under its own weight.
To execute this iconic project, Afcons deployed some of the world's most advanced construction technologies and equipment. The erection of piers, trestles, and the steel arch segments was carried out using the world's largest-capacity crossbar cable cranes, custom-designed for the project. The pylon height of the cable crane at the Srinagar end stands at 127 metres, which is significantly taller than Delhi's Qutub Minar (72 metres). These innovations made construction possible in a remote and geologically complex Himalayan region.
The construction of the Chenab Bridge also marked several engineering firsts in Indian Railways. For the first time, Phased Array Ultrasonic Testing (PAUT) technology was used for the inspection of welds. A National Accreditation Board for Testing and Calibration Laboratories (NABL) accredited testing laboratory was established onsite — another first — to maintain stringent quality controls for weld testing during construction. The project also saw the first-ever execution of incremental launching of a deck structure on combined circular and transition curves on Indian Railways, a feat of precision engineering rarely achieved anywhere in the world.
Krishnamurthy Subramanian, Executive Vice Chairman, Afcons, said, "The Chenab Railway Bridge is more than just a marvel of engineering. It is a symbol of India's resolve to conquer the most formidable challenges with ingenuity and courage."
S Paramasivan, Managing Director, Afcons, said, "For Afcons, it represents our unwavering commitment to nation-building and our ability to reimagine infrastructure in the toughest terrains. This bridge will inspire generations of engineers and stands as a tribute to the power of Indian engineering and teamwork."
About Afcons Infrastructure Ltd
Afcons Infrastructure Ltd is flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group. It has a legacy of over six decades, with strong track record of executing numerous technologically complex EPC projects both within India and internationally. As per the latest ENR survey, Afcons is ranked in Top 140 international Contractors globally; 12th in Bridges and 14th in Marine & Ports.
SOURCE Afcons Infrastructure Limited
PR Newswire
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09 June 20255 min readIndia Converts Adversity Into Accomplishment: Afcons Builds World'S Highest Single-Arch Railway Bridge, 35M Taller Than Eiffel Tower, In Himalayan Terrain
PR Newswire
09 June 2025
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Nigeria Set To Revive The Multi-Billion Dollar Ajaokuta Steel Plant ProjectNigeria’s Minister of Steel Development Shuaibu Abubakar Audu has stated that the Federal Government has reached an advanced stage in its efforts to revive the long awaited comatose Ajaokuta Steel Plant Project that is located in Kogi state.
This information regarding the project was disclosed by the minister during the weekend while hosting various stakeholders of the All Progressives Congress (APC). This event was held in Kogi State at his country home in Ogbonicha, Ofu Local Government Area of the state.
Location: Ajaokuta, Kogi State, Nigeria
Initial capacity (Phase 1): 1.3 million tonnes of liquid steel every year.
Planned expansion: the expansion is expected to increase capacity to 2.6 million tonnes and further to 5.2 million tonnes per annum in coming phases.
Thermal power plant: 110 MW capacity (2 generators of 55MW each).
Other facilities: the project also entails a lime production plant and an alumino silicate refractory plant. Also, it entails a tar bonded dolomite plant, water treatment and recirculation facilities, extensive gas facilities.
Recent revival efforts:
Also read: $400 Million Ogun Stellar Steel Plant Breaks Ground in Nigeria
The minister mentioned that the Federal Government has already signed a Memorandum of Understanding (MOU) with the Original Equipment Manufacturers (OEM). Additionally, the minister said that the government has further extended its search for private investors to China to make investments in the steel plant. This move is expected to mark a big step towards the plant’s resuscitation eventually.
“We are doing an amazing job. The journey has kicked off, and we will be able to turn Ajaokuta and deliver results hastily”, Audu mentioned.
Furthermore, he stressed that the move underscored the bold reforms and developmental strides of the President Bola Tinubu-led administration over the previous two years to boom the economy through steel development.
Also read: Nigeria’s $3.3 Billion Brass Industrial Park and Methanol Complex
Construction Review
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08 June 20255 min readNigeria Set To Revive The Multi-Billion Dollar Ajaokuta Steel Plant Project
Construction Review
08 June 2025
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John Deere Reinforces $20 Billion Commitment To U.S. ManufacturingJohn Deere this week reiterated that it would spend billions on its U.S. operations in the coming years — and refuted a report that it would freeze its domestic manufacturing.
The report, first published on Style on Main, suggested that the ag equipment and machinery giant would freeze U.S. production in an "unprecedented shutdown."
A statement issued by the company Thursday apparently sought to make everyone thaw the heck out, bluntly titling the piece, "Myth Busted: John Deere is NOT Freezing U.S. Manufacturing."
The company said it wants to "clear the air," and that it's not shutting down U.S. manufacturing. Rather, John Deere — as announced in its most recent earnings report — is committing some $20 billion to domestic production over the next 10 years.
"Our commitment to delivering value for our customers includes ongoing investment in advanced products, solutions and manufacturing capabilities," Deere CEO John May said in the statement.
The company operates some 60 U.S. facilities and has more than 30,000 employees.
"Over the next decade, we will continue to make significant investments in our core U.S. market," May added. "This underscores our dedication to innovation and growth while staying cost-competitive in a global market."
According to May, nearly 80% of Deere's U.S. sales and 25% of the company's international sales stem from domestically-made products.
John Deere, according to a company fact sheet, has already invested some $100 million in U.S. factories this year, including a 120,000-square-foot addition in Missouri, additional expansion in Greeneville, Tennessee, a new excavator factory being built in Kernersville, North Carolina, and new assembly lines being installed in Waterloo, Iowa to build the 9RX tractor.
John Deere has been in acquisition mode recently. In late May, the company bought Sentera, a company that makes drone cameras. It's the latest move by the company to further solidify its lead as an agricultural tech provider, helping farmers make more informed operational decisions.
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06 June 20255 min readJohn Deere Reinforces $20 Billion Commitment To U.S. Manufacturing
Manufacturing Net
06 June 2025
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