Manufacturing & Technology

Cummins earnings widely miss predictions

April 30, 2013
 IBJ Staff
The Indiana-based engine maker announced a larger-than-expected drop in quarterly profit Tuesday morning, as revenue fell 12 percent on weak demand for its products in domestic and international markets.
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Hostess to open bakery in Indianapolis

April 29, 2013
Associated Press
Hostess Brands LLC said Monday that it will open bakeries in Indiana and Illinois, following announcements last week that it will reopen bakeries in Georgia and Kansas in its effort to bring back some of its snack brands.
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Venture capital favoring later-stage firmsRestricted Content

April 27, 2013
Dan Human
Getting $50,000—often from friends and relatives—to develop a product and set up a company still is easy enough in Indiana, small-business leaders and venture capitalists say. But once a firm needs a few million dollars to grow into a revenue-generating operation, the area can’t compete with Silicon Valley’s magnetism for venture capital.
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Dow AgroSciences grows sales, earnings to new heights

April 25, 2013
Mason King, Bloomberg News
Record sales for seeds and new crop protection products helped boost revenue 14 percent at Indianapolis-based Dow AgroSciences LLC in its new fiscal year.
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Brown, Interactive Intelligence among Mira winners

April 20, 2013
 IBJ Staff
BidPal picked up two awards at TechPoint's annual event, which drew 1,000 to the JW Marriott downtown Saturday night.
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Execs at Chromcraft Revington enter talks to buy firm

April 19, 2013
 IBJ Staff
Members of the management team are in negotiations to buy the West Lafayette-based furniture maker, which recently moved to delist from the New York Stock Exchange.
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Grand Design RV plans 500 jobs in Elkhart County

April 18, 2013
Associated Press
Grand Design RV in Middlebury on Thursday said it plans to locate its headquarters and manufacturing operations in the Elkhart County town about 30 miles east of South Bend.
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Lilly's $30.6M tax abatement request clears hurdle

April 18, 2013
 IBJ Staff
The pharmaceutical firm has $400 million in projects in the works for its facilities south of downtown. City officials have advanced its request for tax breaks to a public hearing and final consideration May 1.
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Lafayette key to Subaru ending dealer shortages, exec says

April 18, 2013
Bloomberg News
Fuji Heavy Industries Ltd., the Japanese maker of Subaru cars, intends to end a shortage of its vehicles at U.S. dealerships soon by expanding capacity at its Lafayette plant.
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Allison expects 50-percent drop in quarterly earnings

April 15, 2013
Associated Press
The Indianapolis-based transmissions manufacturer said its profit would be hurt by a steep drop in revenue in the first quarter.
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IU medical school's push to launch startups bears fruitRestricted Content

April 13, 2013
J.K. Wall
The Indiana University School of Medicine has launched 12 companies in the past 18 months—a burst of startup activity the school has never seen before.
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'Beer geeks' hatch plan for east-side hops farm

April 13, 2013
Scott Olson
A couple of fledgling entrepreneurs hope to tap into the increasing popularity of local microbreweries—not by starting one but by supplying them with a key flavoring ingredient integral to making beer.
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Indiana furniture maker to exit stock exchange

April 9, 2013
Mason King
The board of directors of Chromcraft Revington Inc., a West Lafayette-based designer and manufacturer of furniture, has decided to pull its shares from the New York Stock Exchange.
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Smartphone videos rewrite rules of customer researchRestricted Content

April 6, 2013
Chris O'Malley
Carmel-based Strategic Marketing & Research Inc. is among firms tapping the capabilities of video-enabled smartphones to gain insights into consumers’ thoughts and emotions. They’re doing this by having consumers use their phones to shoot a video diary of their product experiences.
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GM to invest $332M in factories, including Indiana plant

April 4, 2013
Associated Press
In Indiana, GM plans to spend $29.4 million for a metal castings plant in Bedford to make parts for small engines and for the new eight-speed and existing six-speed automatic transmissions.
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Lawmakers hope to woo gun manufacturers to Indiana

April 3, 2013
 The Statehouse File
Two resolutions, including one that passed the House on Tuesday, aim to attract gun manufacturers to Indiana by touting the state's tax climate and gun-rights laws.
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Indiana bottle maker pushing for refund law

April 2, 2013
 IBJ Staff and Associated Press
A central Indiana company that makes glass bottles and jars is urging state lawmakers to pass legislation requiring refundable deposits on beverages sold in recyclable bottles and cans.
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Sherry Labs snapped up by Netherlands corporation

April 1, 2013
Jeff Newman
The materials-testing business with nearly 300 employees has been acquired by Element Materials Technology. Sherry had been owned by a group of well-connected central Indiana businessmen.
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Carbon Motors pulls equipment from Indiana plant

March 31, 2013
Associated Press
A company that had hoped to open a high-tech police car plant employing as many as 1,500 workers in eastern Indiana has cleared out its plant amid the resignation of a key official.
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ExactTarget lands on tech shopping list for buyout

March 30, 2013
Dan Human
ExactTarget Inc.’s strong position in digital marketing has made the Indianapolis company a tempting acquisition target for Salesforce.com and other tech-industry suitors, Wall Street analysts believe.
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Chrysler, General Motors plants take divergent pathsRestricted Content

March 30, 2013
Dan Human
In Kokomo, Chrysler plants rise with the resurgent automaker, while a GM plant across the highway hasn't been so fortunate.
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Crunching the numbers on Obamacare

March 30, 2013
J.K. Wall
The biggest changes from President Obama’s 2010 health reform law take effect nine months from now, so many Hoosier employers have started crunching detailed numbers to cost out their options.
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Indiana corn dog maker with 87 workers closing

March 29, 2013
Associated Press
A company founded more than 50 years ago as Al Pete Meats is closing its doors, ending 87 jobs.
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Toyota model made in Indiana getting sleek overhaul

March 27, 2013
Bloomberg News
Toyota Motor Corp. is revamping the Highlander SUV, turning the car-based crossover into a more wagon-like model as the automaker seeks to keep its U.S. sales rising for a third consecutive year.
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Calumet goes back to market with public offering

March 26, 2013
 IBJ Staff, Associated Press
The Indianapolis-based petroleum refiner plans to use proceeds from the 5.3 million unit stock offering for working capital, acquisitions and possibly the redemption or repurchase of debt.
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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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