Catalent laying off 400 employees in Bloomington
Since 2020, Catalent had been rapidly expanding operations as it produced vaccines for both Johnson & Johnson and Moderna Inc.
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U.S. business equipment orders rebounded sharply in October
The data suggest companies are largely adhering to capital spending plans as they seek to improve productivity and help counter lingering cost pressures.
Semiconductor firms plan to spend $300M, hire nearly 550 at tech campus
The Indiana Economic Development Corp. says the WestGate One campus in Odon will accelerate the re-shoring of semiconductor research and manufacturing in the U.S.
Hickory Furniture Collective buys 130-year-old Shelbyville manufacturer
Old Hickory Furniture Co., which was founded in 1892, joins the collective’s other three brands: Hickory Furniture Designs, Flat Rock Furniture and Rocky Top Furniture.
RV industry sees reduced shipments as ‘normalization’ after blockbuster year
As the recreational vehicle industry approaches the end of 2022, the nation’s economic malaise and spiking interest rates have caused buyers to tap the brakes on purchasing RVs and drift from 2021’s record-setting numbers.
Morrell Group opens facility in new Noblesville biz park
Morrell Group, which says it outgrew its location in Indianapolis, is occupying about 32,000 square feet and will employ 33 people.
Ohio offers $156M in incentives for Honda battery plant
Honda had also considered Indiana for the $3.5 billion plant, which is expected to employ 2,200 people when completed.
World Trade Organization predicts trade growth to slow next year amid crises
The World Trade Organization is predicting global trade volumes will grow a lackluster 1% next year as challenges weigh on markets, including high energy prices, rising interest rates and uncertainties about Chinese manufacturing output amid the lingering COVID-19 pandemic.
Biogen pays $900M to settle doctor kickback allegations
The deal resolves allegations that the pharmaceutical maker violated federal law by paying kickbacks to doctors to persuade them to prescribe its multiple sclerosis drugs.
Cummins posts record quarterly revenue
The Columbus-based manufacturer says its strong second-quarter was due mostly to its North American market, where revenues grew 15%.
Indianapolis-based Aearo files for bankruptcy protection amid flood of lawsuits
Aearo Technologies filed for Chapter 11 bankruptcy protection this week as a way to deal with the more than 230,000 product liability suits filed against the company and its corporate parent, 3M, in recent years over its now-discontinued Combat Arms earplugs.
Q&A: Rolls-Royce exec on $8M redesign of Indy offices
Tom Bell learned that his team of skilled workers in Indianapolis could digitally show how the Rolls-Royce engine would integrate in to the U.S. Air Force B-52 aircraft—all while working remotely.
Chip shortage leaves 95K GM vehicles incomplete in storage
The chip shortage has limited the supply of new vehicles on dealer lots in the U.S. to about 1 million, when in normal years it’s about 4 million at any given time.
Lilly faces lawsuit over alleged excessive retirement-plan fees
The drugmaker is one of hundreds of U.S. companies being sued in the recent trend in litigation: excessive fees on 401(k) retirement plans.
Electric vehicle business with big plans for Indiana to file for bankruptcy
Electric vehicle startup Electric Last Mile Solutions Inc. planned to use a 650,000-square-foot plant that was formerly used to make Hummers to manufacture “last mile” battery-powered, urban delivery vans.
U.S. producer prices soar 10.8% as energy costs spike
The producer price data captures inflation at an earlier stage of production and can sometimes signal where consumer prices are headed. It also feeds into the Federal Reserve’s preferred measure of inflation, the personal consumption expenditures price index.
Stellantis lands lithium hydroxide supply for EV batteries
Automaker Stellantis has reached a deal to have Controlled Thermal Resources Ltd. supply battery-grade lithium hydroxide for its electric vehicles in North America.
Lawn care equipment company plans expansion in Lebanon
Steel Green Manufacturing LLC plans to add to its workforce once it moves into a new building south of Interstate 65 at the intersection of State Road 39 and Enterprise Boulevard in Lebanon.
Ford CEO sees electric vehicle price war as EV costs decline
Ford CEO Jim Farley predicted big cost reductions are coming with new battery chemistries that use fewer expensive and scarce precious metals such as nickel and cobalt. Plus, EVs will take less time and labor to build, saving more money, he said.
IBJ Podcast: What Indiana’s auto industry must do to adapt to EVs
Podcast host Mason King talks with Ananth Iyer, a professor of management at Purdue’s Krannert School of Management, who is part of a group studying the potential disruption in the auto industry and how Indiana manufacturers can adapt.