The automotive industry certainly suffered during the global financial crisis and the knock-on effect for many lower tier affiliates was devastating. Jackie Barclay, managing director at Acoustex, tells Andrew Pelis how reduced order volumes lead to a re-think on inventory strategy that saw the company ride out the storm.

Ford Motor Company has reported net income of $1.7 billion for the third quarter, a rise of 68 percent on the same period a year ago. Pre-tax operating profit totaled $2.1 billion, a $1.1 billion improvement from third quarter 2009.

Total revenue for the quarter declined by $1.3 billion to $29 billion, compared with the third quarter of 2009, which included revenue from Volvo; excluding Volvo’s 2009 sales, revenue increased by $1.7 billion.

ArcelorMittal, the world's biggest steel company, has reported a profits rise of 48 per cent in the three months to the end of September compared with the same period a year earlier.

Net profit for the third quarter was $1.35 billion (approximately €978 million), up from $910 million (approx. €660 million) a year earlier.

Sales also increased, by 30 per cent against the previous year.

Demand for steel demand has once again been rising, though it still remains below pre-crisis levels.

The Chinese-designed Elevated High-Speed Super Bus may be pulling up to bus stops in North America in the not-too-distant-future.

Song Youzhou, designer of the super bus, has formed US Elevated High-Speed Bus (Group) Inc, to plan distribution and manufacturing of the vehicle outside of China, beginning with North America.

Birmingham, UK-based engineering group IMI is to spend €135 million (£120 million) to acquire German industrial valve maker Zimmermann & Jansen.

Zimmermann & Jansen (Z&J), which has manufacturing facilities in Germany, US and South Africa, as well as a sales and purchasing office in China, specialises in the manufacture of heavy-duty valves used in the petrochemical, iron and steel markets.

Z&J also has a strong aftermarket business, with around two thirds of its sales coming from refurbishment, replacement, parts and service.

BP announced today that it has reached agreement to sell its recently acquired interests in four mature producing deepwater oil and gas fields in the US Gulf of Mexico to Marubeni Oil and Gas for $650 million.

BP acquired the interests in the Magnolia, Merganser, Nansen and Zia fields from Devon Energy earlier in 2010 as part of a wider acquisition of assets in the Gulf of Mexico, Brazil and Azerbaijan.

Spain’s Ferrovial plans to sell a 10 per cent stake in BAA, the owner of London’s Heathrow airport, to pay off debt and fund other projects.

In 2006 the Madrid-based infrastructure group led a consortium that acquired BAA for €16 billion (£14.2 billion), as part of a plan to expand its activities beyond construction.

Ferrovial will now reduce its 55.9 per cent stake in the UK business, but will still remain the largest shareholder.

10. Colombia (EPI: 76.8)

Despite its relatively small size, Colombia is the second most biologically diverse country on earth, home to about 10 percent of the world’s species. This biodiversity results from Colombia's varied ecosystems—from the rich tropical rainforest to the coastal cloud forests to the open savannas. Recently, the Colombian government has taken steps to make the country more eco-friendly.

Caterpillar Inc. has signed an agreement with investment firm 3i to acquire MWM Holding GmbH, a leading global supplier of highly sustainable alternative engines.

The total transaction value amounts to €580 million (approximately $810 million) and will be paid in cash.