Hurco suffers loss despite better sales
Indianapolis-based machine tool maker lost $1.5 million in its second fiscal quarter, which was much greater than the loss
it reported in the same period last year.
Manufacturers
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EnerDel’s potential luring backers despite steep losses
The parent of locally based lithium-ion battery maker EnerDel is putting together hundreds of millions of dollars in financing
to fund a business plan that could bring revenue to nearly $1 billion within five years.
EnerDel parent lands $65M investment
The parent company of lithium-ion battery maker EnerDel has landed a $65 million investment from its largest shareholder.
Toyota to move Highlander production to Indiana
Toyota began manufacturing the Highlander SUVs in November 2000 and has been making between 1,000 to 9,000 gasoline vehicles
a month. In April, it produced about 1,900 units.
UPDATE: Alcoa, union reach tentative agreement
Aluminum giant Alcoa Inc. reached a tentative agreement on a new contract with its largest union Tuesday. It still must be ratified by union members in Indiana and seven other states.
EnerDel forms joint venture with Chinese autoparts maker
Battery company will offer expertise to help Wanxiang build Chinese factory, fill backlogs. Indiana employment could reach 3,000, but there’s no target date for achieving that milestone.
Northstar Aerospace closing Anderson plant
The Anderson plant, which opened in 2006 and makes aircraft parts, has about 40 employees.
Mitsubishi planning Franklin expansion
A Franklin manufacturing facility is planning a $9.4 million expansion project that would more than double employment over
the next two years.
Tipton County Council to vote on Getrag site incentive
The $13 million bond would be used to lower the price of the abandoned plant to help lure a company that is considering
manufacturing solar panels at the site.
Knauf Insulation sues NatCity over $8M investment loss
One of Shelby County’s largest employers is suing NatCity Investments Inc. to try to recover nearly $8 million in losses on
auction-rate securities. Knauf Insulation filed suit in Shelby Superior Court in March, saying NatCity should repay the money
in accordance with a settlement the bank reached with federal regulators in March 2009.
Sale of GM plant could come as soon as June
UAW official says General Motors and prospective buyer are working on a “real aggressive” schedule to have the acquisition
completed by the end of June.
Navistar finalizes foundry closing
Navistar Inc. has notified state leaders that its Indianapolis Casting Corp. foundry at 5565 Brookville Road will close in
July, costing about 220 employees their jobs.
Cummins profit jumps on demand from emerging markets
The Columbus-based engine maker sees sales increase in developing countries such as China, India and Brazil.
Calumet wins $132M federal defense contract
The one-year agreement calls for the Indianapolis-based company to supply aviation fuel to the Defense Energy Support Center
in Virginia.
California brewer to open Franklin plant, hire up to 150
TailGate Beer said it will invest millions of dollars in machinery, equipment and energy-efficiency upgrades to establish
operations in an existing 48,000-square-foot building in Franklin Business Park.
Shelbyville insulation company laying off 100 workers
Knauf Insulation will idle employees in June for at least six months, as demand for its building products remains soft.
Rolls-Royce bags $51 million Marine contract
Four-year agreement to provide engines for tanker aircraft is the latest military contract snared by Rolls-Royce’s local operations.
Hundreds show interest in jobs at police car maker
Company executives told those at Monday’s information sessions that many jobs will require an associate’s degree in engineering
and computer literacy to operate assembly-line machines.
Packaging company seeks abatement for expansion
Just Packaging on the east side of Indianapolis says it plans to invest in new equipment and hire 35 people by 2014.
Hillenbrand closes $435M K-Tron International purchase
K-Tron will become a unit of the Batesville company. K-Tron shareholders received about $150 per share in cash for their common
stock in the deal, which was announced in January.