Let $\Omega$ be a signature without predicate symbols and let $\mathcal{A}$ and $\mathcal{B}$ be two finitely generated $\Omega$-algebras. Consider their product in the category of all $\Omega$-algebras, let it be $\mathcal{A} \times \mathcal{B}$.
Is it true that $\mathcal{A} \times \mathcal{B}$ is also finitely generated?
I know that it is true for monoids, for example. But maybe there exists a simple example why it is not true for an arbitrary two finitely generated $\Omega$-algebras? Or is it always true?
Here is an explicit counterexample (covered by the theorem cited in Martin's answer). Let $N$ be the semigroup of natural numbers (excluding $0$) under addition. This is finitely generated by $\{ 1 \}$. On the other hand, $N \times N$ is the semigroup of pairs of natural numbers (excluding $0$) under addition. This semigroup is not finitely generated, because there are infinitely many pairs of the form $(1, n)$ or $(n, 1)$ and they are indecomposable; they can't be written as a nontrivial sum of other pairs at all.