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General Motors today presented an updated Viability Plan designed to speed the reinvention of GM's U.S. operations into a leaner, more customer-focused and more cost-competitive automaker.

Ford Motor Co., Dearborn, MI, today reported a first quarter net loss of $1.4 billion, or $0.60 per share. This compares with net income of $70 million, or $0.03 per share, in the first quarter of 2008.

Adhesives specialist Collano, headquartered in Sempach-Station near Luzern, Switzerland, has reported a drop in both sales and earnings for 2008.

The Associated Press reports that sources within General Motors have revealed that the automaker plans to close most of its U.S. manufacturing plants for as long as nine weeks this summer because of declining sales and a surplus of unsold vehicles.

Hexion Specialty Chemicals Inc., Columbus, OH, has announced preliminary results for the first quarter ended March 31, 2009.

Univar Chairman and CEO Gary Pruitt announced today that he has decided to retire as chief executive officer.

The Associated Press reports that General Motors will eliminate 1,600 white-collar jobs over the next few days as part of a cost-cutting strategy to qualify for additional government aid.

The Associated Press reports that Italian automaker Fiat Group SpA will pass up the opportunity to take a 20% stake in Chrysler if the U.S. automaker’s unions do not agree to major cost cuts.

Reuters reports that U.S. consumer prices have dropped on a year-by-year basis for the first time in more than 50 years.

MAPEI, a world leader in the production of adhesives for the building sector, has acquired the assets of All-Purpose Adhesive Company (APAC) of Dalton, GA.