During Wednesday’s Afternoon trade, Shares of General Motors Company (NYSE:GM), lost -1.40% to $32.87.
General Motors Company, has halted production at its single assembly plant in Russia as sales have plummeted amid an economic downturn, according to AP.
GM declared the plant’s closure in March, citing a shrinking auto market. The plant, GM’s only fully owned production facility in Russia, opened in late 2008 amid much fanfare when foreign automakers were crowding into a booming market. It cost $300 million and has a capacity of 70,000 cars a year. AP Reports.
GM also said it would withdraw its mass-market Opel brand from Russia by December, and production of Chevrolets under license by Russian firm GAZ will also end this year. AP added.
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments.
Shares of Hanesbrands Inc. (NYSE:HBI), inclined 2.13% to $34.03, during its current trading session.
Hanesbrands Inc., declared that the company has made the Fortune 500 list of America’s largest companies for the first time. Hanes, a leading global marketer of everyday basic innerwear and activewear apparel under world-class brands, is one of just five apparel companies on the Fortune 500.
Hanes ranks No. 490 on the list of largest American public companies by revenue published in the Fortune magazine issue dated June 15, 2015, and accessible on newsstands. Hanes made the list after posting record sales of $5.32 billion in 2014, up 15 percent over the company’s previous record for sales in 2013.
In March, S&P Dow Jones Indices added Hanes to the S&P 500 stock market index designed to reflect the U.S. economy through leading large-cap companies in leading industries.
- By several measures, Hanes ranks higher than its revenue ranking contrast with Fortune 500 companies in 2014. Highlights comprise:
- For 2014, Hanes’ 61 percent total return to shareholders ranked No. 17
- For the past five years, Hanes’ 36.5 percent rate of annual total return to shareholders ranked No. 20
- Hanes ranked No. 341 for profit
- Hanes ranked No. 211 for profit as a percentage of sales
- Hanes profit growth of 22.4 percent exceeded the Fortune 500 median of 9.9 percent
- Hanes sales growth of 15.1 percent exceeded the Fortune 500 median of 4.3 percent.
Hanesbrands Inc., a consumer goods company, designs, manufactures, sources, and sells a range of basic apparels for men, women, and children in the United States. The company operates through four segments: Innerwear, Activewear, Direct to Consumer, and International.
Finally, Noranda Aluminum Holding Corp. (NYSE:NOR), gained 3.95%, and is now trading at $0.88, hitting its lowest level.
Noranda Aluminum Holding Corporation, declared the hiring of Julio Costa as President of the Company`s Bauxite and Alumina business. Noranda also declared that Mike Griffin, the Company`s Vice President of Manufacturing, has been named President of the Primary Aluminum business. Costa and Griffin join Scott Croft, who continues as President of the Flat-Rolled Products business, and who has also been named Noranda`s Chief Commercial Officer, as the core of Noranda`s senior operations administration team.
“Julio is an excellent operational leader with deep experience in bauxite mining and alumina refining. We are proud to add his talents to our team,” said Layle K. “Kip” Smith, Noranda`s President and Chief Executive Officer. “The appointment of Julio and Mike to their respective senior leadership positions demonstrates the commitment by our board and administration to creating long term shareholder value through an emphasis on improving the reliability and performance of our integrated upstream business. Additionally, Scott`s designation as Chief Commercial Officer demonstrates our commitment to leveraging the success of our Flat-Rolled Products business across the Company as we drive a culture of excellence in our relationships with our customers and suppliers.”
Costa joined Noranda from Rio Tinto where he most recently served as the chief operating officer in the coal mining businesses in Mozambique and Australia. Costa was the general manager for Rio Tinto`s bauxite mine and alumina refinery in Gove, Australia from 2008 to 2012. Costa brings a total of 23 years of experience in technical, operating, and planned roles in mining and refinery operations across the globe.
Noranda Aluminum Holding Corporation produces and sells primary aluminum and rolled aluminum coils in the United States. The company’s Bauxite segment mines, produces, and sells bauxite used for alumina production.
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