Allison profit upshifts on North American demand
In its second quarter, the Indianapolis-based manufacturer of transmissions and propulsion systems rode accelerating sales for rugged-duty, student transport, and hydraulic fracturing equipment.
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Steel demand feeds shipping boom in Indiana
The automotive industry is behind the increase, pushing steel ahead of longtime leaders iron ore and coal.
Steel Dynamics buying Mississippi plant for $1.6B
Fort Wayne-based Steel Dynamics said the plant it is buying from a company controlled by Russian billionaire Alexey Mordashov is one of the newest and most technologically advanced mini-mills in North America.
Drone startup off to flying start
Two friends and drone enthusiasts in 2012 hatched the idea, as a side gig, to build flying devices small enough to fit in a briefcase. But the idea shifted to a full-scale manufacturing operation that will launch in mid-August and is projected to produce up to $10 million in revenue next year.
IU says no victims reported in data breach
Data including names, addresses and Social Security numbers of those who attended IU from 2011 to 2014 was unsecured for more than 11 months because protections weren’t working correctly.
UPDATE: Microsoft to cut up to 18,000 jobs in next year
The layoffs were double what Wall Street was expecting after the computing giant’s CEO altered course last week. The firm had just completed its acquisition of Nokia’s devices business in April.
Interactive Intelligence shares dive on expected shortfall
The local software and services firm has released disappointing preliminary results for its second quarter, leading to a 16-percent stock tumble.
GM planning $27M investment in Bedford plant
The automaker filed a tax abatement request for the Bedford factory project, saying it would add about 40 jobs and raise the plant’s employment to some 650 workers.
Tower maker gets OK for factory, plans to hire 600
Nello Corp., a South Bend firm that manufactures steel towers, plans to sink about $60 million into the project.
House votes to extend moratorium on Internet taxes
Under current law, the moratorium expires Nov. 1, exposing Internet users to the same kind of connection fees that often show up on telephone bills.
Herff Jones to close division with 110 local workers
Indianapolis-based Herff Jones said the move would result in the permanent closure of a facility at 4719 W. 62nd St., where 110 production, support and administrative employees work.
Chicago-made medical gel wins Innovation Showcase pitch contest
The Indianapolis-based expo for featuring innovations and courting potential investors crowned an unusual winner of its pitch contest on Thursday.
Indiana Rail Road to speed up trains
The Indiana Rail Road Co. is investing about $1 million this year so trains can move faster and more quietly through the Indianapolis area.
Beer technology firm buys N.C. company
Carmel software startup SteadyServ Technologies acquired North Carolina beer-app developer PintLabs.
Greensburg factory to invest $28M, add 250 workers
Workers will be hired as global firm Valeo buys new equipment for its 400,000-square-foot engine cooling factory to start new product lines for Honda, Nissan, Chrysler and Ford.
Web startup Bookit planning expansion
Bookit Commerce Inc., which operates the website bookacoach.com, plans to hire 93 people by 2018, the locally based company announced Monday morning.
MISO data breach latest in hackers’ efforts to reach power grid
Operating cost data from participants in Carmel-based MISO's power network was compromised in a computer breach that highlighted the rising vulnerability of the U.S. electricity infrastructure.
Ex-Hoosier funnels millions back home to local tech firms
West Coast investor Parker Hinshaw and his wife, Jean Balgrosky, in 2012 founded San Diego investment firm Bootstrap Incubation LLC and in 2013 the Bootstrap Venture Fund, which have funded three Indiana companies in less than a year. A fourth deal is about to close.
Tech firms get chance to pitch investors
Seventy-six startups and small tech companies will vie for investors’ interest July 10 at the Innovation Showcase.
Telemon unit acquires automotive manufacturer
Westbrook Mfg., founded in 1977, makes electro-mechanical assemblies and wiring harnesses for the automotive industry at its manufacturing plant in Fresnillo, Mexico. The company has about 400 workers.