Bemis Corp. of Neenah, Wis., said today it will invest $21 million to boost efficiency of its flexible packaging plant in Terre Haute. The project will include the addition of two ten-color presses and three extrusion lines this year. Twenty-nine workers will be added to the current roster of 1,000.
Indianapolis-based BioStorage Technologies Inc. said today it has raised $8.3 million in venture capital funding. Led by Radius Ventures of New York, other investors included Spring Mill Venture Partners of Carmel, Village Ventures of Williamstown, Mass., and Twilight Venture Partners of Indianapolis. BioStorage focuses on pharmaceuticals and other biomaterials, and recently expanded into Europe.
A federal jury in Manhattan Friday afternoon found former Brightpoint Inc. manager Timothy Harcharik aided and abetted securities fraud at the company in the late 1990s. After a four-day civil trial, the jury found against Harcharik on three counts of aiding and abetting. The jury found in his favor on another aiding-and-abetting count and on […]
The 7th Circuit Court of Appeals in Chicago today upheld a court decision that tossed out a class-action lawsuit brought by disgruntled Formula One fans. The unanimous decision affirmed a 2006 ruling by U.S. District Judge Sarah Evans Barker, who said the suit failed to state a claim for which relief could be granted, according […]
Central Indiana home sales fell to 2,577 in April, down 3.8 percent from the same month last year, the Metropolitan Indianapolis Board of Realtors said today. For the year, the sales are off 7.9 percent. New listings for April increased 5.5 percent from a year earlier, and prices held steady despite the slow sales and […]
Eli Lilly and Co. said today it has bought Ivy Animal Health Inc. for an undisclosed price. The Overland Park, Kan., company, which primarily sells cattle growth promotants, will compliment Lilly’s Elanco animal health arm, Lilly said. The deal is expected to close in the second quarter and result in a charge to earnings of […]
ATTC Manufacturing Inc., which supplies brake drums, rotors and differential cases to Toyota plants in North America, said today it will expand its plant at Tell City. Ninety jobs will be added by the $49 million project in the southern Indiana community. ATTC received $3.3 million in state and local economic development incentives.
Three counterfeit batches of Zyprexa, Eli Lilly and Co.’s blockbuster schizophrenia drug, have been discovered in the supply chain in the United Kingdom, according to Reuters. The product has been recalled by the U.K.’s Medicines and Healthcare Products Regulatory Agency to err on the side of caution even though the agency thinks only two batches […]
Several businesses have filed suit against the city of Fort Wayne in the hope of persuading a judge to declare a pending city-wide smoking ban unconstitutional. The business owners claim the ordinance is too broad, but the author, City Councilman John Crawford, says he is confident the suit will fail, according to The Journal Gazette […]
First-quarter profit fell to $7.3 million from $7.4 million a year earlier for Shoe Carnival Inc., the Evansville shoe retailer reported today. Comparable-store sales in the period ended April 29 dipped 3.7 percent. The company blamed the results on sluggish shoe sales across the industry.
Central Indiana Corporate Partnership Vice President Lee Lewellen is leaving the group over a transition ending July 31 to become senior vice president of community and regional development at Thomas P. Miller & Associates, the Greenfield consulting firm that wrote the state’s economic development plan. Lewellen, 54, spent most of his seven-year tenure at CICP heading research […]
3D Machine Inc. in Goodland will spend $3 million and create 27 jobs in an expansion, Indiana Economic Development Corp. said today. The northwest Indiana machined parts manufacturer received as much as $335,500 in state and local incentives. Family-owned 3D Machine supplies to Pitney Bowes Inc., the Stamford, Conn., mail- and message- equipment maker, among other customers.
Kevin B. Kelly has been named Economic Development Director for the city of Noblesville, Mayor John Ditslear announced today. The 47-year-old was president of the Illinois chapter of the Associated Builders and Contractors, based in Elgin, Ill. Kelly also has been mayor of the Chicago suburb and headed that city’s chamber of commerce.
Gerald R. Francis, who has engineered the sale of two Indiana banks to out-of-state concerns, has joined Financial Stocks Inc. of Cincinnati as managing director of its private equity group. Francis will identify and evaluate opportunities to recapitalize or turn around community banks and thrifts. Francis, who will work from Indianapolis, revived Kokomo-based First National […]
Sallie Mae parent SLM Corp. said late yesterday that CEO Thomas J. “Tim” Fitzpatrick had resigned and would be replaced by Executive Vice President and Chief Financial Officer C.E. Andrews. News outlets including The Wall Street Journal and Reuters reported that directors of the Reston, Va., student loan giant felt a fresh start was needed […]
Indianapolis-based Emmis Communications Corp. and Indianapolis Motor Speedway have signed a unique, exclusive deal that will allow Indianapolis 500 fans to answer trivia questions and make race and Carburetion Day predictions via their cell phones. Carb Day is Friday and the race is Sunday. Financial terms were not released, but sports marketers said it’s an […]
Wire-fraud charges against International Outsourcing Services have been dismissed by federal prosecutors after the Bloomington company’s new managers pledged to cooperate in the prosecutors’ case against 11 of its indicted officials.Topping the list of indicted executives are CEO Bruce A. Furr, Executive Vice President Lance Furr and Chief Financial Officer William L. Babler, all of […]
George Foreman, who twice won the world heavyweight boxing championship, has bought a part of Panther Racing, the Indianapolis company said today. Terms of the deal were not disclosed. Foreman will add savvy honed by years of involvement in professional sports, team owner John Barnes said in a statement. The Indy Racing League team has […]
