Auto Industry

RV exec seeking new start in IndyRestricted Content

September 28, 2013
Dan Human
A member of one of the recreational vehicle industry’s elite families hopes to get a fresh start in Indianapolis by launching a manufacturer of super-high-end RVs.
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Auto parts supplier expanding Indiana factory

September 27, 2013
Associated Press
Heartland Automotive plans to spend $38 million on a factory expansion that could add up to 220 jobs in the next two years.
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Auto parts supplier hiring 100 for Indiana plant

September 25, 2013
Associated Press
Tenneco Inc. officials say the factory in the Noble County city of Ligonier is increasing production to make parts on a new line for Chrysler.
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Asian automakers dominate in good month for car sales

September 5, 2013
Bloomberg News, Associated Press
Honda and Subaru led U.S. sales gains in August as auto demand beat projections and Asia-based carmakers, buoyed by Toyota Motor Corp., combined for their best month ever.
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Ford recalls 370,000 cars

September 1, 2013
Associated Press
Potential corrosion to the cars' steering shafts might result in loss of control. No incidents or injuries have been reported.
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Subaru considers ways to fix its supply problem

August 28, 2013
Bloomberg News
Subaru,  which employs about 3,600 people in Lafayette, is taking measured steps to expand its production capacity, but today it is worried about running out of cars.
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Cummins to announce engine contract, more jobs

August 20, 2013
 IBJ Staff
Columbus-based Cummins Inc. plans to announce Tuesday afternoon an agreement with Nissan Motor Co. to supply diesel engines for Titan pickup trucks.
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Subaru parent set to reevaluate strategy amid rapid growth

August 9, 2013
Bloomberg News
Executives at the company, which counts Toyota Motor Corp. as its biggest shareholder, will begin discussions this month through next year to determine the long-term direction of the Tokyo-based company.
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State adds manufacturing jobs for second year in a row

August 3, 2013
Associated Press
Indiana Manufacturers Association President Patrick Kiely says Indiana has added 64,000 manufacturing jobs since the industry bottomed out in June 2009.
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Cummins shares jump on 2-percent revenue boost

July 30, 2013
 IBJ Staff
Shares of Columbus-based engine maker Cummins Inc. shot up 4 percent in Tuesday morning trading despite a reported 11-percent dip in profit for its second quarter.
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Gears slip for Allison Transmission in second quarter

July 30, 2013
 IBJ Staff
Profit and revenue fell for Allison Transmission Holdings Inc. in its second quarter, as demand in its mining and military markets slipped.
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Toyota to add 200 jobs at Indiana factory in 2014

July 26, 2013
Associated Press
Toyota Motor Manufacturing Indiana Inc. announced Friday that it's increasing Highlander production by 15,000 units at its Princeton plant as part of a $30 million investment.
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Car parts maker expands in Hancock County

July 19, 2013
Mason King
A 250,000-square-foot distribution center that sat empty since the recession has finally nailed down a tenant—a Canadian firm relocating operations from nearby Knightstown.
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Two automotive suppliers plan expansions in Marion County

July 12, 2013
 IBJ Staff
Innovative Coating Solutions and Reflex & Allen USA expect to add a total of 93 employees over five years and are seeking tax breaks on $3.5 million in new equipment.
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GM supplier plans opening factory near Fort Wayne

July 3, 2013
Associated Press
A Canadian-based General Motors supplier plans to open a new facility near Fort Wayne and hire up to 160 workers in the next few years.
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Manufacturer to relocate to Muncie, add 288 jobs

June 19, 2013
Mason King
A maker of a new heavy-equipment vehicle that uses clean energy plans to invest $4.6 million in an engineering and assembly facility and ramp up operations as orders come in.
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Report: People problems persist in manufacturing, logistics

June 14, 2013
Dan Human
Indiana's manufacturing and logistics sectors are undoubtedly strong, but work-force quality issues continue to nag the state, according to an industry report card released Friday morning.
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Japanese auto supplier adding 103 jobs in Columbus

June 14, 2013
Sunright America, a maker of nuts, bolts and specialty fasteners, plans to invest $35 million to build and equip two additional facilities on its 33-acre campus.
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Carbon Motors’ Chapter 7 filing marks official end for firm

June 12, 2013
Scott Olson
The once-promising firm that had planned to build high-tech police cars at a Connersville plant filed for bankruptcy Friday, listing liabilities of $21.7 million.
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Remy seeks greater share of Chinese market with buyout

June 12, 2013
Dan Human
Pendleton-based auto parts manufacturer Remy International Inc. plans to buy out a partner’s share in a Chinese joint venture, potentially paving the way for a greater share of the growing Asian market.
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Manufacturer plans $30.2M expansion in Franklin

June 7, 2013
 IBJ Staff
NSK Corp. and NSK Precision America Inc. said the project will allow them to hire 46 additional workers by 2016 at their 63-acre corporate campus.
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Vacant GM stamping plant to be demolished

June 7, 2013
Kathleen McLaughlin
The 2.1 million-square-foot plant, which sits on 102 acres near downtown, opened in 1930 and employed more than 5,000 at its peak. That number was fewer than 700 when it closed two years ago.
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Toyota's Indiana plant adding more jobs than expected

June 5, 2013
Associated Press
Toyota says it is hiring slightly more new workers than first expected as it increases production at its southwestern Indiana factory.
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Three former executives sue Carbon Motors over pay

May 22, 2013
Associated Press
Executive vice presidents of a company that planned to build high-tech police cars at an eastern Indiana factory are seeking more than $600,000 in deferred wages.
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New owner shutting down 520-worker Indiana plant

May 17, 2013
Associated Press
Allied Specialty Vehicles announced Thursday it was buying Monaco RV and shifting production to a factory in Decatur, near Fort Wayne. The 520 jobs lost in Wakarusa won't be replaced on a one-to-one basis.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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