The Chronicle-Tribune in Marion has been sold to Paducah, Ky.-based Paxton Media Group LLC. Financial terms were not disclosed. The paper’s previous owner, McLean, Va.-based Gannett Co. Inc., in May donated the newspaper to the Gannett Foundation, which completed the sale. The new owner plans to revive the paper’s business office and printing presses within […]
Gotec Plus USA in Huntington has closed, displacing about 25 workers, reports The Herald-Press. The company, which prepares metal for vehicle parts, said the downturn in the automotive industry caused the shutdown. The last day for employees was June 29. Huntington is about 30 miles southwest of Fort Wayne.
Fort Wayne-based Steel Dynamics Inc. has closed on its $360 million acquisition of The Techs, a flat-rolled-steel company based in Pennsylvania. The company has three galvanizing facilities in Pennsylvania, including two in Pittsburgh. The deal was announced last month.
Pended homes sales in the United States fell 3.5 percent in May from the month before. It was the third consecutive monthly drop, according to the National Association of Realtors. Pended sales fell 3.2 percent in April. Pended sales in May were 13.3 down from the same month a year ago.
Private equity firm Monomoy Capital Partners LP has acquired Middlebury-based Pilgrim International Inc. and plans to combine it with another recreational vehicle maker it owns, Washington-based Western Recreational Vehicles Inc. The merged company will be headquartered in Middlebury. No impact to the 750 workers the two companies employ is expected. New York-based Monomoy Capital did […]
ATA Airlines plans to discontinue line maintenance in Indianapolis by Nov. 1 and appears ready to deactivate its Indianapolis maintenance operations entirely. The discontinuation of line maintenance-which involves quick, overnight-type aircraft work rather than overhauls-underscores the increasing irrelevance of Indianapolis to the locally based airline. Once the busiest carrier at Indianapolis International Airport, ATA ended […]
Indianapolis law firm Ice Miller LLP has expanded its presence in DuPage County, Ill., and is staffing its new office there with 14 attorneys absorbed from another practice in suburban Chicago. The lawyers from Wildman Harrold in Lisle bring a broad base of experience and represent a diverse clientele, including Fortune 500 companies, private businesses, […]
Apple Inc. sold about 200,000 iPhones in the first 24 hours the product was on store shelves. By late Sunday, 520,000 gadgets had sold. The iPhone, which also works as an iPod music player and a wireless Web device, went on sale the evening of June 29. It sells for $500 for the 4-gigabyte version […]
Elkhart- based CTS Corp. today said it plans to repurchase as many as 2 million of its outstanding shares of common stock. The shares represent about 6 percent of the company’s 36 million outstanding shares. Details related to the timing and price have not been determined. Shares of the company, which makes electronic components and […]
Jasper-based Kimball International has won a contract to produce automobile steering systems for the European market. The value of the five-year contract is about $170 million. Production will begin next year at an existing Kimball Electronics Group facility in Poland. The new business is related to the next generation of electronically power-assisted steering. Kimball-the state’s […]
IBJ was named the best large-market business journal and collected five other awards at the Alliance of Area Business Publications’
summer conference June 23 in Denver.
United Water said today it has acquired AOS Operating System for $6.7 million, sweeping in 82 contracts and 180 workers mostly in Eastern and Western states. United Water’s North American headquarters is in Indianapolis at 151 N. Delaware St. It oversees wastewater services at Indianapolis’ two wastewater treatment plants and wastewater plants in Cumberland and […]
Sixty-eight percent of voting United Auto Workers members approved an agreement with bankrupt Delphi Corp., the union said today. Ratifying the deal will help the Michigan auto parts maker emerge from two years of bankruptcy reorganization. Delphi’s operation in Kokomo was among operations voting in favor, according to Bloomberg.
Shares of The Finish Line Inc. fell 6 percent, to $9.03, this morning after the company announced that it lost $3.9 million in its first fiscal quarter ended June 2. The loss of 8 cents per share is less than the 9 to 11 cents the Indianapolis company expected. Finish Line reported a $4.4 million […]
St. Vincent Sports Performance Center got to pound its chest a bit last night. Four of its clients were selected in National Basketball Association draft-including Greg Oden, the Indianapolis native picked first by the Portland Trail Blazers. The other clients include Indianapolis native Mike Conley Jr. at No. 4; Daequan Cook, a teammate of Oden […]
Conseco Inc. expects to cough up another $35 million to settle a massive consumer lawsuit about changes to its life insurance policies. That brings the Carmel-based insurer’s total pre-tax expense on the case to $250 million-and there’s always a chance the bill could run higher, the company warned today. The settlement is subject to court […]
A Purdue University fund-raising campaign launched in 2000 has amassed $1.7 billion, $400 million more than the original goal. The fund-raising results, to be officially announced tomorrow, cap a stint by Purdue President Martin Jischke that includes a furious economic development effort advanced yesterday by the unveiling of a tech park project near Indianapolis International […]
Shares of The Finish Line Inc. fell 6 percent, to $9.03, this morning after the company announced that it lost $3.9 million in its first fiscal quarter ended June 2. The loss of 8 cents per share is less than the 9 to 11 cents the Indianapolis company expected. Finish Line reported a $4.4 million […]
Purdue Research Foundation has purchased a half-interest in 78 acres in AmeriPlex industrial park on the far west side to start a technology park that the university anticipates filling with as many as 75 businesses and 1,500 jobs. The announcement is expected during a 1 p.m. news conference at the site. AmeriPlex is south of […]
When it comes to throwing money at doctors in Vermont, Eli Lilly and Co. is tops. According to Vermont’s attorney general, Indianapolis-based Lilly exceeded all other drugmakers in 2006 for doling out cash, food and gifts to doctors, as well as hospitals, clinics and universities. The report did not specify how much Lilly gave. But […]
