Denver-based Sport-Haley would pay $2.7 million when the deal closes. It would pay another $750,000 when Chromcraft's plant in Delphi is sold or mortgaged, or 180 days after the merger is complete, whichever is earlier.
Cummins spokesman Jon Mills said the company wants to consolidate its two offices in downtown Indianapolis where about 100 employees work in areas such as communications, information technology and investor relations.
CMW International LLC, which has roots in Indianapolis dating to 1924, said all 100 of its employees would lose their jobs if a buyer wasn’t found before Nov. 23.
Tenneco Inc. officials say the factory in the Noble County city of Ligonier is increasing production to make parts on a new line for Chrysler.
The state saw sizable job increases in manufacturing, health services and educational sectors, but that was offset by decreases in trade, transportation, utilities and construction.
Anderson Mayor Kevin Smith said he'll meet with executives from five manufacturing companies near the city of Milan during the trip that starts Saturday.
Dallara is preparing to install a $5 million automobile simulator in its Speedway plant—a move that could fuel the company’s plan to dramatically grow its local operation.
The Indiana Economic Development Corp. said Tuesday that Pratt Industries will invest $260 million to build the recycling plant next to its existing box-making plant in Valparaiso.
Sales for the Indianapolis-based manufacturer decreased across all regions during the quarter, including in its biggest market, Europe, where they fell 11 percent.
Honda and Subaru led U.S. sales gains in August as auto demand beat projections and Asia-based carmakers, buoyed by Toyota Motor Corp., combined for their best month ever.
United Kingdom-based Meggitt PLC plans to acquire Piezotech LLC, a manufacturer founded in Indianapolis in 1967, for $41.2 million, the companies announced Wednesday.
TWeatherford Inc. was launched in 2006 as a reseller for additive manufacturing equipment, often called 3D printers or rapid prototypers. It has done well with the machinery sales and rentals, but has begun providing actual manufacturing services on a larger scale.
Cummins said the 5-liter, V-8 turbo diesel will be built in Indiana at the company's historic plant in downtown Columbus, creating up to 500 jobs over the next several years. About 300 people currently work on the V-8 program.
Columbus-based Cummins Inc. plans to announce Tuesday afternoon an agreement with Nissan Motor Co. to supply diesel engines for Titan pickup trucks.
The trust created to revitalize and market former General Motors properties has set aside about $7 million to clean up a contaminated site in Kokomo where a factory stood from 1915 to 1993.
Indianapolis is losing manufacturing jobs at a steady, some would say alarming, rate. And the Circle City is not alone, as many metro areas face serious challenges in retaining and attracting manufacturers.
Indiana exports rose to a record $34.4 billion in 2012 while growing at a rate exceeding the Midwest’s and the nation’s.
Shares of Pendleton-based Remy International Inc. closed at a 52-week high Tuesday, a day after the manufacturer announced declining sales and earnings in the second quarter.
The primary investors in Allison Transmission Holdings Inc. are looking to lock in profits by unloading 16.6 million shares of the company for more than $350 million.
OC Oerlikon Corp. interim CEO Juerg Fedier said margins are improving in the Fairfield Drive Systems division in Lafayette after the Swiss manufacturer cut nearly 500 jobs in the second quarter.
