A renewable energy company that is building an ethanol plant in Bluffton has agreed to be sold to an Omaha, Neb., ethanol firm. The acquisition of VBV LLC is valued at $383 million, the buyer, Green Plains Renewable Energy Inc., announced late yesterday. VBV is a Delaware company owned by Ireland-based NTR plc and the […]
FinishMaster Inc. posted first-quarter profit of $6.3 million, nearly double the $3.2 million of a year earlier, the Indianapolis company announced late yesterday. FinishMaster attributed the upswing to a settlement from a lawsuit and a one-time prior year charge. Without the two items, profit would have been $3.2 million, down from $4.2 million a year […]
Shares of Plainfield-based Brightpoint Inc. increased 3 percent, to $9.76, this morning after sliding nearly 5 percent earlier in the day. The gyrations came after the cell phone distributor announced late yesterday that it earned $7.3 million, or 9 cents per share, in adjusted net income in the first quarter, less than the 12 cents per […]
MD Logistics added 120,000 square feet to its warehouse in Plainfield and hired 80 workers after expanding a contract it holds with Audiovox Corp. MD will label and repackage Thomson Consumer Electronics products arriving in bulk from Asia, then distribute the repackaged products. Audiovox, headquartered in Hauppauge, N.Y., in October 2006 acquired Thomson’s consumer electronics […]
A key company in Elwood closed abruptly on Friday, pushing 60 to 70 people out of jobs. State Plating, which coated steel with nickel, had been in business in the town north of Fishers since 1962. The company didn’t respond to messages from The Herald Bulletin of Anderson, but the newspaper said the rising cost […]
A call center operator has chosen Anderson for a new operation and plans to hire as many as 400 workers within a year, Mayor Kris Ockomon said this morning. Agape LLC, a startup, picked Anderson for its available work force and access to fiber optics. Agape will set up shop in the Union Building, which […]
Indianapolis-based Arcadia Resources Inc. has acquired a small in-home health care company in North Carolina for an undisclosed price. Carolina Care generated $2.1 million in revenue last year serving Medicaid patients from three locations. Both companies have home health care offices in Winston-Salem, N.C., which Arcadia plans to merge to save money. “Expanding our in-home […]
Marvel Industries Inc. plans to shift refrigerator production from Richmond to its plant in Greenville, Mich., resulting in the loss of 140 jobs in the eastern Indiana city, according to the Palladium-Item. A timetable for the pull-out was not disclosed, the newspaper said. State and local officials offered $2.6 million in incentives to keep the […]
Employees of Tyson Foods Inc.’s hog slaughterhouse in Logansport have sued the company, claiming they weren’t paid for overtime work. More than 600 of the possible 2,000 workers covered by the suit have joined as plaintiffs, their Wilmington, Del., law firm Grant & Eiesenhofer said yesterday. Overtime work referenced in the suit includes production duties […]
Casting Technologies Co. plans to add 40 jobs to 85 existing positions as it expands its aluminum parts operation in Franklin. The company sells cast parts to carmakers that are looking to reduce weight. Casting Technologies is owned by Compass Automotive Group Inc., which is headquartered in the city south of Indianapolis. Compass was created […]
An undeveloped parcel of 189 acres in Muncie has been bought out of foreclosure by the bank that foreclosed on the property, according to The Star Press. First Merchants Bank paid $2.3 million for the property, which is along I-69 at State Road 332. The land is part of a business park called Park One/332. […]
Deaconess Health System in Evansville might buy Welborn Clinic, which has nine locations in Evansville and surrounding counties, according to the Evansville Courier & Press. Neither side confirmed the merger, but one Deaconess official said talks of a sale have been ongoing. The clinic has about 650 employees, including physicians. Deaconess employs more than 3,000 […]
Duke Realty Corp. reported late yesterday that it earned $89.2 million, or 58 cents per share, in funds from operations in the first quarter. The funds were down 4 cents from a year earlier and short of the 62 cents expected by analysts surveyed by Thomson Financial. Duke attributed the result to the sale of […]
Simon Property Group today reported that funds from operations, a common measure of real estate investment trusts like the Indianapolis-based shopping mall giant, rose 7 percent in the first quarter. The $420 million amounted to $1.46 per share, slightly more than the $1.44 expected by analysts surveyed by Thomson Financial. Net income fell 10.7 percent, […]
Dow AgroSciences, the Indianapolis-based agricultural arm of Dow Chemical Co., saw profit leap to $331 million in the first quarter from $282 million a year earlier due to internal growth and acquisitions. Sales increased 27 percent, to $1.3 billion, on price increases averaging 11 percent across its global footprint, particularly in Europe and Latin America. […]
Brightpoint Great Britain Ltd., a unit of Plainfield-based Brightpoint Inc., has bought the wireless distribution business of Hugh Symons Group Ltd. for $586,000. Hugh Symons also will receive up to an additional $7.2 million if it reaches certain performance goals over the next three years. The acquisition gives Brightpoint a long-desired entry into the United Kingdom. […]
Profit at Indianapolis-based Interactive Intelligence Inc. fell 36 percent, to $1.1 million, in the first quarter due to timing of taxes on its earnings. However, the developer of business communications software saw operating income climb to $1.5 million in the quarter ended March 31 from $1.4 million a year earlier. The income was driven by […]
United States Cold Storage Inc., a Voorhees, N.J., company specializing in logistics for refrigerated and frozen food, is considering building a warehouse in Lebanon. The $50 million warehouse eventually could be as large as 423,000 square feet, according to The Lebanon Reporter. It would be built on 59 acres in Lebanon Business Park. Duke Realty […]
Buehler Foods, which operates 22 grocery stores in Indiana, Illinois and Kentucky, is being sold to Bowling Green, Ky.-based Houchens Industries Inc., according to the Evansville Courier & Press. Buehler Foods, a family owned business founded in Jasper in 1940, employs about 1,500 workers. All stores are expected to remain open and all employees will […]
Toledo, Ohio-based Heidtman Steel is shutting down a plant in Crawfordsville, displacing all 71 employees, reports the Journal Review. The plant, slated to close June 30, processes flat-rolled steel. The decision to close the plant is part of the company’s ongoing strategic evaluation to improve productivity, the Crawfordsville newspaper said. Heidtman has 16 plants in […]
