Manufacturers

Hurco sees smaller profit on drop in sales

March 6, 2013
Dan Human
Machine-tool manufacturer Hurco Cos. Inc. saw earnings drop 51 percent in its latest fiscal quarter on falling revenue, the Indianapolis-based company announced Wednesday.
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Chrysler confirms state investment of $374 million

February 28, 2013
Dan Human
Chrysler Group LLC plans to invest a total $374 million and add 1,250 jobs in Kokomo and Tipton, the company confirmed Thursday.
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Indiana auto parts supplier lays off 130 workers

February 25, 2013
Associated Press
A Contech Castings spokesman said the company's Auburn plant laid off about half of its work force Friday after losing a contract last week.
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Union workers at Goshen's Cequent plant take severance deal

February 23, 2013
Associated Press
The trailer-hitch manufacturer plans to close the 450-employee plant and move operations to Mexico. Union workers voted Friday to forego arbitration and accept a severance agreement that will pay the most senior employees $36,000.
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Cummins lowers previously reported earnings

February 20, 2013
Dan Human
Columbus-based diesel engine manufacturer Cummins Inc. lowered its previously reported quarterly profit by $12 million, or 3.1 percent, after discovering legal fees that the company initially missed.
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Allison Transmission cuts 2013 sales outlook

February 19, 2013
Dan Human
Allison Transmission Inc. predicted 2013 sales declines after it closed 2012 with an inflated $514.2 million annual profit and a massive slide in sales for a key market during the fourth quarter.
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Remy International reports $138M annual profit

February 19, 2013
Dan Human
A one-time tax benefit more than doubled Remy International Inc.’s annual profit to $138.6 million, the Pendleton-based manufacturer reported late Monday.
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Lilly to expand partnership with diagnostic firm

February 14, 2013
 IBJ Staff and Associated Press
Diagnostic products maker Qiagen NV said Wednesday that it will work with Eli Lilly and Co. to develop new tests that could identify patients who could be helped by Lilly's drugs.
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Firm's Klipsch purchase hasn't rocked Wall StreetRestricted Content

February 9, 2013
Dan Human
Voxx International Corp.’s $166 million buyout of Indianapolis-based speaker maker Klipsch Group two years ago so far hasn’t generated the excitement on Wall Street that Voxx wants.
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Calumet jumps into $300 million refinery joint venture

February 7, 2013
Dan Human
Calumet Specialty Products Partners LP plans to build a $300 million diesel refinery in North Dakota as part of a joint venture with energy company MDU Resources Group Inc., the firms announced after markets closed Thursday.
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Cummins' earnings, revenue fall on weaker demand

February 6, 2013
 IBJ Staff
Engine maker Cummins Inc. saw profit sink 30 percent in the fourth quarter as demand for its products fell in both domestic and international markets. Full-year profit and revenue also fell.
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Remy International CEO Weber stepping down

February 1, 2013
Dan Human
Remy International Inc. President and CEO John Weber will resign at the end of February after leading the company for seven years, the Pendleton-based automotive supplier announced Friday.
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Tool-maker Hurco makes headway after tough stretchRestricted Content

January 26, 2013
Dan Human
The company, which develops computer-controlled equipment for cutting and forming metal, made progress in fiscal 2012 toward restoring profitability to pre-recession levels.
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Rolls-Royce cutting production jobs in Indy

January 25, 2013
Dan Human
Rolls-Royce has offered buyouts and early retirement to 28 union production workers because of decreased product demand. The company declined to say whether any non-union workers were being cut.
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Local tooling manufacturer acquired by private-equity firm

January 21, 2013
Techniks Inc., a designer and distributor of industrial cutting tools, has been acquired by Tenex Capital Management. Tenex, in turn, merged Techniks into another of its companies, Jasper-based Nap Gladu, to form a new holding company.
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Trafalgar company bringing reflective technology to consumer marketRestricted Content

January 19, 2013
Chris O'Malley
Halo Coatings, founded in 2007, spent its early years licensing its proprietary reflective technology for powder-coating applications to companies involved in highway infrastructure, such as guardrails. But it's now shifting its focus to the big players in the apparel, medical and consumer-product fields.
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Fishers auto supplier moving to Anderson

January 16, 2013
Keihin North America Inc. plans to relocate between 130 and 175 management, engineering and development jobs to the Flagship Enterprise Center.
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Sun King brewery lands tax breaks for expansion

January 16, 2013
Scott Olson
The downtown brewery plans to spend $2.1 million on additional equipment and add 20 jobs by 2016 in exchange for a tax abatement from the city.
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Foul odor spurs Oliver Winery hard-cider lawsuit

January 15, 2013
Scott Olson
The Bloomington-based winery claims in a federal lawsuit that it was forced to recall its hard apple cider due to defective cans provided by Ball Metal Beverage Container Corp.
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Muncie-based glass maker to be sold for $1.6B

January 14, 2013
Bloomberg News
Ardagh Group said it has agreed to buy Indiana-based glass bottle and jar manufacturer Verallia North America, which has about 4,400 employees at 13 manufacturing plants in the United States, including more than 650 workers in Indiana.
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Analyst cuts Cummins rating, citing rise in shares

January 11, 2013
Associated Press
Analyst Stephen Volkmann lowered his rating on the engine maker's stock to "Hold" from "Buy," noting that the shares have risen 30 percent from their October lows and are now just 10 percent below all-time highs.
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Hurco reports increase in quarterly, annual profit

January 11, 2013
The Indianapolis-based maker of computer-controlled machining tools attributed much of the increase to higher demand for its products in North America and Europe.
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Tipton manufacturer with 173 workers says its closing

January 3, 2013
 IBJ Staff
Steel Parts Manufacturing Inc. says it plans to close its plant in Tipton, ending employment for 173 workers. The company told the state the closure and layoffs will begin Feb. 28 and end by March 14.
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Report: Plug-in vehicles slow to spark interest in Indy

January 2, 2013
Dan Human
Plug-in electric vehicles, which are struggling to gain traction nationwide, have even less appeal in central Indiana than they do in most areas of the country, a new study says.
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Sensient settles over use of 'popcorn lung' chemical

December 26, 2012
Scott Olson
The locally based flavor maker has agreed to reduce its usage of diacetyl, which had prompted fines from the state. The deal significantly reduces the amount of the penalty—from $325,500 to $99,000.
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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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