Calumet said Winter Storm Uri, which brought snow and record cold across the U.S. in February, hurt production at the company’s Gulf Coast refineries during the quarter. The first-quarter losses push the company’s total losses since 2014 above $1 billion.
Cummins raises full-year outlook after better-than-expected quarterly results
Indiana-based engine manufacturer Cummins Inc. on Tuesday reported first-quarter revenue and profit that exceeded analyst expectations.Read More
Allison Transmission raises sales forecast amid ongoing pandemic recovery
The Indianapolis-based manufacturer said it expects 2021 net sales to range from $2.33 billion to $2.48 billion. That’s an improvement from the guidance the company issued in February.Read More
Toyota hiring 1,400, investing $803M to expand production at Indiana plant
Production of two new electric vehicles—one branded Toyota and the other in the Lexus line—is expected to begin in mid- to late 2023 at the plant in Princeton.Read More
The demand is sending used-car costs soaring. The Manheim Index, which measures prices at wholesale auctions, shows that they’re 52% higher than they were a year ago.
April was the 11th consecutive month manufacturing has grown after contracting in April 2020, when the country was struggling to deal with the shutdowns caused by a global pandemic.
Automakers sold more than 3.9 million vehicles during the first three months of the year, with several major companies reporting March sales that were nearly double from the same month a year earlier.
All but one of 18 manufacturing industries reported growth in March, led by textiles, electrical equipment and appliances, machinery and computers and electronic products.
The ambitious plan, to be unveiled Wednesday, is expected to devote hundreds of billions of dollars to infrastructure, home care for the elderly and the disabled, efforts to revive manufacturing, and bolstering the nation’s electric grid, broadband access and water systems.
Bastian Solutions, which makes conveyor systems, robotics and other automated materials-handling items often used by the retail industry, has seen growth accelerate because of the pandemic.
The world’s major automakers have made something abundantly clear: They believe electric vehicles will dominate their industry in the years ahead. But the American public is far from sold on the idea.
Allison Transmission’s fourth-quarter financial performance exceeded analysts’ revenue expectations but fell short of profitability forecasts.
Luis Orbegoso, 50, joins Allegion from American Residential Services. He’ll be based in Allegion’s Carmel office and oversee the security-products company’s operations in the Americas.
The Indiana-based manufacturer said sales in North America declined 21% last year, but its sales in China reached record levels, up 25% from the previous year.
Mitsubishi Heavy Industries Climate Control Inc., which has operated in Franklin since the 1990s, will cease production next month. Mitsubishi has a turbocharger business in the same facility that will continue to operate.
The electric-vehicle industry has grown exponentially in the past decade but still represents less than 2% of automobiles sold in the United States.
National Trade Supply, located at 2011 Southtech Drive, employs 157 people in Greenwood and 167 at retail locations throughout the state and country. That includes 43 local employees it added last year.
A key reason for the closing is because turbochargers are lasting longer, “decreasing the demand for remanufactured turbochargers,” the company said in a statement.
Carmakers with more software and chip expertise are set to face a smoother ride, while those whose traditional strength is metal-bending are potentially more prone to supply hiccups.
During his presidential campaign, Biden detailed a multi-pronged plan to address climate change by, among other things, tightening fuel economy standards and moving the United States to 100% clean-energy sources by 2050.