Cummins sees more revenue, less profit in latest quarter
Cummins said its profitability was affected by several expenses last quarter, the largest of which was the $56 million that the company spent on a one-time bonus to employees.
Manufacturing
Articles
U.S. manufacturing nears stagnation as price gauge hits 2-year low
Ten manufacturing industries reported a contraction in October, led by furniture, wood products, paper products and textiles. Eight industries expanded.
Industry: Advanced recycling is a solution to plastic crisis
Environmental groups say advanced recycling is a distraction from real solutions like using less plastic. They suspect the idea of recyclable plastics will enable the steep ramp up in plastic production to continue.
US awards $2.8B in grants for EV batteries in 12 states
A total of 20 companies will receive grants for projects to extract and process lithium, graphite and other battery materials, manufacture components and strengthen U.S. supply of critical minerals, officials said.
EnPower’s pivot to battery-making leads company to Indianapolis
The company has recently begun testing its first products with customers and is working to ramp up production in coming months.
Council pledges incentives for proposed $2.4B battery plant in New Carlisle
The South Bend Regional Chamber says if the New Carlisle site is chosen for the project, the plant could generate an estimated $652 million in annual economic impact once fully operational.
Senator says electric car tax credit needs ‘flexibility’
U.S. Sen. Raphael Warnock from Georgia is raising concerns that the tax credit President Joe Biden signed into law last month could place some automakers at a competitive disadvantage.
Indiana-based Vera Bradley hires longtime retail exec as new CEO
Jacqueline Ardrey Ardrey will succeed president and CEO Robert Wallstrom, who earlier this year announced his plans to retire after leading the company since 2013.
GM to spend $491M to support EV production at Indiana plant
The company said it will add two press lines at its Marion Metal Center and invest in upgraded equipment to equip new and future electric vehicle models, including the Chevrolet Silverado EV, GMC Hummer EV, Hummer EV SUV, and Cadillac Lyriq.
Biden officials visit Purdue as part of national push to bolster semiconductor production
Officials discussed their push to see Indiana ramp up its role at designing and manufacturing of semiconductor chips that are used to power the nation’s smartphones, cars, computers, medical equipment, military weapons and other technology.
Jim Beam plans $400M expansion to ramp up bourbon production
The expansion will be used to produce two mainstays — Jim Beam white and black label bourbons — and will mostly support expected sales growth overseas.
Pet food maker begins construction on $260M plant in Rushville
The new facility will be Diamond Pet Foods’ first in Indiana and represents one of the largest private investments in Rushville’s history, according to the Rush County Economic Development Corp.
Italian manufacturer expands plan for Fishers by $367M, 265 workers
City officials said Stevanato Group wants to increase its total investment in its Fishers plant to $512 million and its hiring plan to 515 employees. The facility is under construction near 126th Street and Cumberland Road.
UPDATE: Work at Stellantis plant to resume after deal with UAW
Stellantis said that operations at the plant in Kokomo would resume late Monday after UAW Local 1166 workers voted to ratify the agreement.
UAW workers go on strike at Stellantis plant in Indiana
The 1,200-worker plant, Kokomo Casting, is the world’s largest die cast facility, according to Stellantis. It makes aluminum parts for components including transmissions and engine blocks.
Biden’s visit shows high stakes of $20B Ohio chip factory
Nearby states hope to benefit from the cluster of suppliers that industry experts say is bound to develop around the Ohio site. Indiana officials also have made semiconductor manufacturing a critical element in economic development strategies.
Manufacturing tech grants helped Hoosier companies grow their workforce, report says
On average, recipients of the state’s Manufacturing Readiness Grants added five new jobs as a result of the technology investments.
Product-liability lawsuits against 3M can proceed, Indianapolis judge rules
Indianapolis-based Aearo Technologies LLC’s recent bankruptcy filing won’t shield its corporate parent 3M Co. from the massive flood of product-liability lawsuits over Aeros’ military earplugs, a judge has ruled.
Westfield council delays vote on controversial NorthPoint II business park
Holladay Properties says a “global company” is interested in occupying the whole 180-acre park proposed in rural Westfield and wants to move quickly.
Battery maker seeks tax break to build potentially massive plant in Indiana
A joint venture between General Motors Co. and LG Energy Solution has filed a tax abatement application for a facility in New Carlisle that—based on similar projects elsewhere—could bring more than $2 billion in investment and more than 1,000 jobs to northern Indiana.