The CEO of AIT Laboratories in Indianapolis has won a Midwest Entrepreneur of the Year award from Ernst & Young in the “turnaround” category. Michael A. Evans received the award at a gala in Chicago last night. Evans spent his savings to found AIT 18 years ago. Growth initially came slowly for AIT, which conducts […]
Airports in Evansville, Fort Wayne and South Bend are in danger of losing air service due to the rising cost of aviation fuel, says a study released yesterday by a consumer group. The Business Travel Coalition, which advocates for lower business-travel costs, today planned to discuss the 50 regional airports identified in its study during […]
Eight months after Steel Dynamics Inc. acquired the scrap steel recycler OmniSource Corp., six OmniSource executives have resigned. Three of the six were members of the Rifkin family, which sold OmniSource to Steel Dynamics for $1.1 billion, according to The Journal Gazette of Fort Wayne. Fast-growing Steel Dynamics and OmniSource both are in Fort Wayne. […]
Lebanon‘s city council has voted to bring more than six square miles along Interstate 65 into the city and zone the land for single-family housing. The 3,675 acres extends half a mile on each side of the interstate, and as far south as State Road 267, according to The Lebanon Reporter. The council could make […]
Locally based Brightpoint Inc. today said that it has reached an agreement with New Jersey-based Verizon Wireless to distribute wireless devices to the carrier’s authorized agents and national retailers. Brightpoint spokesman Anurag Gupta called the pact “a significant deal for us.” Verizon is one of the nation’s largest wireless networks.
Intense bidding yesterday from parties in Asia, the Middle East, Europe and the United States pushed the auction price of a Claude Monet painting owned by Columbus industrialist J. Irwin Miller and his wife, Xenia, to $80.45 million. A spokesman for Christie’s Auction House said the “Le Basin aux Nympheas” nearly broke a record for […]
Miller Pipeline Corp., the pipeline contractor owned by Evansville-based Vectren Corp., has acquired a small pipeline contractor in Greenville, S.C., for an undisclosed price, Miller said yesterday. The South Carolina firm, E&M Pipeline, has 35 workers. E&M pushes Indianapolis-based Miller into its 22nd state. Most of Miller’s work is in Indiana and Ohio. The acquisition […]
Raj Bal will become president of WellPoint’s Inc.’s individual business on July 8, the company announced today. Bal comes from Milwaukee-based Assurant Health, where he was executive vice president and chief operating officer. He also serves on the policy committee for America’s Health Insurance Plans. He has an economics degree from Concordia University in Montreal, […]
Zimmer Inc. is racking up sales of a knee replacement designed for women despite lingering concern in the medical community that the implant is mostly a sales gimmick. More than 24,000 of the implants have been sold since the launch of Gender Solutions in 2006, according to The Journal Gazette of Fort Wayne. The women’s […]
Indianapolis-based Specialty Coating Systems Inc. has been acquired for an undisclosed price by Berwind Corp., a Philadelphia-based private investment manager. Specialty Coating was owned by Bunker Hill Capital LP of Boston, which had acquired it from Rhode Island-based Cookson Electronics in December 2005. Specialty Coating has nine facilities in the Americas, Europe and Asia that […]
Cedar Run Investments LLC, owned by Indianapolis developer Tim Shrout, has received the go-ahead from the Shelby County Plan Commission to build an industrial park in Shelbyville. The project will target suppliers to the Honda Manufacturing of Indiana plant in nearby Greensburg. The commission voted Wednesday to rezone 100 acres from agriculture to manufacturing, according […]
Freudenberg-NOK is shutting down a brake-parts plant it operates in the southern Indiana town of Scottsburg, throwing 135 out of work. The work will be moved to Queretaro in central Mexico to cut costs and follow auto-making customers that are adding locations in the area, according to WHAS-TV Channel 11 in Louisville. Headquartered in the […]
More than 460 workers at General Motors Corp.’s pickup truck assembly plant in Fort Wayne are taking early retirement or a buyout offer as part of the automaker’s most recent round of buyouts. The workers will leave GM on July 1, according to The Journal Gazette of Fort Wayne. The plant has 2,700 employees. Some […]
Hendricks Regional Health will spend $60 million to add 205,000 square feet to its Danville hospital, the system announced today. The expansion will begin right away with a scheduled completion in January 2010. At that time, Hendricks Regional will boast 789,000 square feet at its Danville facility. The new three-story wing will house six operating […]
LaCrosse Footwear Inc., the Portland, Ore.-based seller of work and outdoor boots, has contracted with Browning Investments Inc. and ProLogis to build a warehouse in the Boone County community of Whitestown. The 380,000-square-foot facility will be located in Park 267, an industrial park that Indianapolis-based Browning and ProLogis are developing near State Road 267 and […]
A new software company that’s developing music-teaching software plans to locate its headquarters in Stutz Business Center downtown and create 100 jobs by 2015. Musical DNA LLC will invest $2.3 million in the headquarters and development center, Indiana Economic Development Corp. announced yesterday. The company, which has 15 employees, received performance-based commitments of $1.1 million […]
Assembly of Tundra full-size pickup trucks will be slowed at Toyota’s plant in Princeton and its new plant near San Antonio for the second time in four months. The Princeton plant will be idled for six production days until the end of August, according to Bloomberg. However, Toyota is not planning to shift all production […]
The Indiana Department of Insurance is asking insurance companies doing business in the state to temporarily delay canceling Hoosiers’ policies due to late payments if the policy holders live in counties hit by tornados or flooding. The grace period applies for 60 days beginning May 30. The department also will allow a 60-day grace period […]
Colgate-Palmolive Co.’s toothpaste plant in Clarksville closes at the end of the month, but the landmark still has no buyer. The price on the 52-acre site near Louisville has been slashed to $9 million from $13 million, according to The Courier-Journal of Louisville. Observers say tight-fisted lending practices resulting from the credit crisis are likely […]
A planned merger of Bloomington Hospital into Indianapolis-based Clarian Health was approved 403-149 last night by the Bloomington facility’s governing body, the Local Council of Women. The Local Council, which founded the hospital more than 100 years ago, had to revise hospital bylaws to clear the way for the merger. Clarian will receive 51 percent […]
