Factories

Old-line manufacturer poised to close for goodRestricted Content

September 28, 2013
 IBJ Staff
A manufacturer that has roots in Indianapolis dating to 1924 plans to permanently cease operations in late November unless it can find a buyer for the business.
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Local manufacturer with 100 workers set to close

September 25, 2013
 IBJ Staff
CMW International LLC, which has roots in Indianapolis dating to 1924, said all 100 of its employees would lose their jobs if a buyer wasn’t found before Nov. 23.
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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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Cummins plans to add 500 jobs for Nissan engine

August 20, 2013
 IBJ Staff, Bloomberg News
Cummins said the 5-liter, V-8 turbo diesel will be built in Indiana at the company's historic plant in downtown Columbus, creating up to 500 jobs over the next several years. About 300 people currently work on the V-8 program.
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Chemical cleanup planned at old factory site

August 16, 2013
Associated Press
The trust created to revitalize and market former General Motors properties has set aside about $7 million to clean up a contaminated site in Kokomo where a factory stood from 1915 to 1993.
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Massive job cuts in Indiana help Swiss firm turn profit

August 6, 2013
Bloomberg News
OC Oerlikon Corp. interim CEO Juerg Fedier said margins are improving in the Fairfield Drive Systems division in Lafayette after the Swiss manufacturer cut nearly 500 jobs in the second quarter.
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Slumping Caterpillar to lay off 125 workers in Lafayette

August 6, 2013
Associated Press
Caterpillar in July announced a 43-percent drop in earnings and cut its outlook for the rest of the year because of a downturn in the global mining industry.
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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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Flavor-maker to close Indy plants, lay off 47

July 23, 2013
Mason King
Kerry Ingredients & Flavours LLC plans to consolidate the Indianapolis manufacturing operations into other U.S. facilities. Thirty-five temporary workers also will lose positions.
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Hostess set to resume full production in Indy

July 3, 2013
Kathleen McLaughlin
Hostess Brands LLC wants to have its Indianapolis plant in full production by the end of next week, an executive said Wednesday. The company received a tax incentive agreement worth $536,000 from the city on Wednesday.
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Hurco acquires Italian machine-tool component business

July 2, 2013
 IBJ Staff
Hurco, which designs and produces interactive computer controls, software and computerized machine tools, does most of its business in Europe.
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Cummins plans office remodeling, $15M warehouse

July 1, 2013
Associated Press
Cummins proposes remodeling the four-story former Irwin Union Bank building in downtown Columbus that the company bought in 2010. The new warehouse planned near Cummins' Walesboro factory could add about 25 jobs.
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Hostess prepares to open plant despite tax-break question

June 25, 2013
Kathleen McLaughlin
Hostess Brands LLC has asked the city for a tax abatement on $10 million in new equipment. City officials might decide on July 3, but Hostess is moving ahead with its plans to reopen the plant that closed in November.
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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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New Hostess owners want abatement for equipment

June 14, 2013
Cory Schouten
The new owners of Hostess Brands are seeking a tax abatement to support investment of $10 million in new equipment for a plant on the east side that could employ up to 145 people.
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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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Locally produced laundry additive taking on skin cancer

June 8, 2013
Anthony Schoettle
In a nondescript manufacturing plant on Indianapolis’ east side, a manufacturer is producing one of the most unique weapons in the war on skin cancer. Called SunGuard, the laundry additive is being called by some dermatologists a potential life saver.
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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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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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Indy startup sees green in cheaper 3D printing

May 25, 2013
Dan Human
Launched in January, 3D Parts Manufacturing joined a recent surge in rapid prototyping and additive manufacturing operations known as 3D printers. Rather than screwing and gluing parts together, operators plug digital designs into machines that shape plastic and metal powders from the bottom up, one microscopic level at a time.
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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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Indiana ambulance plant with 165 workers closing

May 22, 2013
Associated Press
The decision to close the Elkhart factory comes two weeks after Allied Specialty Vehicles bought SJC Industries. Production will be moved to a Florida factory in the coming months.
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Work stops on Greenwood pharmaceutical plant

May 20, 2013
 IBJ Staff and Associated Press
Greenwood officials three years ago approved $8.4 million of incentives for the Elona Biotechnologies project, including the construction loan.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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