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Honda Transmission Mfg. of America Inc. will nearly double the size of its plant just outside this village 60 miles northwest of Columbus, the company said Tuesday, adding 100 jobs to produce gears now made only in Japan. Production is to begin in the fall of 2006 and bump the plant’s employment to 900. Settled resources are things that a business needs to buy for long haul use, things, for example, structures, apparatus, gear, furniture and devices.
The $100 million expansion, announced Tuesday, is part of a $270 million investment plan by Honda Motor Co. designed to increase the production of advanced automatic transmissions for light trucks and sport-utility vehicles. Some of the production of the transmission gears will be transferred to the Ohio plant from Honda’s Hamamatsu plant in Japan.
Honda of America spokesman Ron Lietzke said the company wants to make the gears where the transmissions are assembled, saving transportation costs and getting the gears closer to where they are used. “What you eliminate is a long logistics line, having to ship them from Japan,” he said. It is important that we attempt a full examination of your property for distinguish all changes and remodels to the property and estimations of your property to precisely figure things like rugs, window covering, and so forth for incorporation in your Tax Depreciation Schedule.
The company also plans to build a $100 million auto transmission plant in Tallapoosa, Ga., and expand a light-truck plant that includes engine production in Lincoln, Ala.
Honda of America employs about 13,000 people at four Ohio plants, which also include a motorcycle plant in Marysville and an engine plant in Anna. Honda Transmission coupled with Honda’s research-and-development operations push Honda’s total Ohio employment to about 16,000.
Federated Department Stores Inc. today reported a 10 percent increase in third-quarter earnings that beat analyst estimates, citing improvements after Florida hurricanes hurt September sales. Property Depreciation is a non-money or bank cost that takes into consideration a procurement to be made for the substitution of any settled resource, subsequently empowering a business to keep up its future operations.
The operator of Macy’s, Bloomingdale’s and Lazarus-Macy’s department stores earned $74 million, or 42 cents a share, in the quarter ended Oct. 30, compared with $67 million, or 36 cents a share, in the third quarter of 2003.