Cummins shares fall after quarterly report
Cummins Inc. reported $283 million in third quarter profit, a three-fold increase from the year-ago period, but the performance missed analyst expectations.
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Local Raytheon operation lands $47M Army contract
Raytheon Technical Services Co. in Indianapolis won a $47 million deal to make infrared systems for U.S. Army armored vehicles, continuing a string of sizable military contracts it has scored this year.
Canadian company plans to create 175 jobs in Miami County
Conforce International Inc., a manufacturer of composite flooring systems for the transportation industry, plans to invest more than $13.8 million to purchase and equip a plant in Peru, which would be the company’s first location in the United States.
Thinner margins squeeze Steel Dynamics profit
The Fort Wayne-based steelmaker reported profit of $19 million, or 9 cents per share, compared with $69 million, or 30 cents per share, in the same period last year.
GE to pump $161 million into Bloomington plant
General Electric announced Monday morning that it plans to invest $161 million at its Bloomington refrigerator plant, creating up to 200 jobs by 2014. The plant, which was once slated for closure, now has more than 500 employees.
Electric car maker to start work at former RV plant
Think North America plans to start production work on electric cars at a Middlebury-area factory before the end of this year.
Stanley moving production to new Greenfield plant
Connecticut-based Stanley Black & Decker Inc. plans to combine two of its manufacturing operations at a new facility in Greenfield, transferring about 100 workers from Shelbyville and adding as many as 80 jobs in the next two years.
Furniture distributor plans Gas City operations
New Jersey-based Munire Furniture says it will locate its U.S. manufacturing headquarters in Gas City, with plans to create as many as 100 jobs by the end of the year and as many as 350 by 2013.
UAW rejects pay cuts; local GM plant could close
Union employees at General Motors' Indianapolis metal-stamping plant have overwhelmingly rejected a proposed pay cut that would have kept the facility open.
Raytheon’s local plant lands $42M Navy order
Raytheon Technical Services Co. in Indianapolis has scored a $42 million contract to make forward-looking infrared sensors for the U.S. Air Force’s HH-60G helicopter, the Department of Defense said late last week.
Durable goods rise outside volatile transportation
The overall demand for durable goods fell 1.3 percent in August, the Commerce Department said Friday. But that was pulled down by a significant drop in orders for aircraft.
EnerDel parent nets $20M from Russian investor
New York-based Ener1 didn't disclose how it will use the funds coming from Ener1 Group Inc., a company led by Russian industrialist Boris Zingarevich.
Rolls-Royce scores $19.2M helicopter contract
The local operations of the British aerospace firm has won an Army contract to build 40 more engines for the OH-58D Kiowa Warrior helicopter.
Indy metal-stamping plant faces many hurdles
Persuading workers at General Motors' Indianapolis metal-stamping plant to accept a pay cut would be a feat, but it won't be the last challenge that JD Norman Industries would face.
Schlage acquires Fusion door-hardware division
Schlage’s purchase of the Georgia-based company’s division gives it immediate access to the decorative door hardware and lock market, the company said.
Company sets closing of southern Indiana furniture plant
DMI Furniture says in a filing with the state Department of Workforce Development that it expects to permanently close the Huntingburg factory on Nov. 19, eliminating about 60 jobs.
Fort Wayne hopes Navistar workers will attract business
The president of an organization that aims to attract businesses to northeast Indiana says the region is hoping to use Navistar International Corp.’s 1,000-plus workers as an asset.
Medical equipment maker primed to expand in Greenwood
Advantis Medical Inc., a maker of cases and trays for surgical instruments, plans to add more than 100 jobs in Greenwood over the next five years.
Factory production creeps up again
Production at U.S. factories grew in August for the 12th time in 14 months, but at a slower rate than earlier this year.
Cummins awarded $6.9 million Army contract
The three-year deal calls for the Columbus, Ind.-based diesel engine manufacturer to develop a power train that improves efficiency by reducing fuel consumption and noise, and can run on a wide range of fuels and fuel mixtures.