The size of the drop surprised economists, although it is likely that there was significant disruption from severe winter storms that hit much of the country last month, on top of ongoing supply-chain problems.
Automakers have said they don’t expect the chip shortage to get any better before the third quarter of the year, potentially costing them billions of dollars in revenue.
Mark Howell, 56, who joined Conexus in 2018, plans to focus on volunteer and philanthropic activities after leaving the Indianapolis-based not-for-profit, the organization said Wednesday.
Bastian Solutions, which makes conveyor systems, robotics and other automated materials-handling items often used by the retail industry, has seen growth accelerate because of the pandemic.
The company said it will invest $33 million to expand its bustling Elkhart campus, which opened in 2009. It is slated to receive up to $11 million in tax credits.
Eli Lilly and Co. told Reuters news agency that it is working closely with the FDA to address concerns about the factory in Branchburg, New Jersey, which makes Trulicity.
Indianapolis-based Hurco Cos. Inc. shares jumped more than 13% Friday morning after the manufacturer reported a rebound to profitability and increased sales and orders in its fiscal first quarter.
The Indianapolis-based company, which makes specialty petroleum products, last posted an annual profit in 2013. Calumet’s cumulative annual losses since then total $931.7 million.
The world’s largest retailer said it plans to invest $350 billion in products made, grown or assembled in the United States over the next 10 years, a move it says will help create 750,000 jobs.
The Institute for Supply Management reported Monday that its gauge of manufacturing activity rose to a reading of 60.8% last month, 2.1 percentage-points above the January level of 58.7%.
A Toyota spokesman would not answer questions about whether the SUVs should be parked outdoors until the matter is resolved, but said the company is cooperating in the probe.
The executive order will cover U.S. supply chains for large-capacity batteries, pharmaceuticals, critical minerals and semiconductors that power cars, phones, military equipment and other goods.
Allison Transmission’s fourth-quarter financial performance exceeded analysts’ revenue expectations but fell short of profitability forecasts.
Productivity in Indiana’s most advanced industries—including agricultural chemicals, medical equipment and adhesives production—has lagged behind the national average for the past 10 years and the gap is widening, according to a new Brookings Institution study.
Canada’s Bombardier announced Thursday that it will stop production of the Learjet later this year to focus on more profitable planes. The iconic jet was among the first private luxury planes.
For workers at GM and other automakers, the future could be perilous. The more environmentally focused plants of the future will need significantly fewer workers, mainly because electric vehicles contain 30% to 40% fewer moving parts than petroleum-run vehicles.
Tony Satterthwaite, president and COO since October 2019, will move into the new position of vice chairman, while Jennifer Rumsey, president of the company’s Components business, will succeed Satterthwaite as president and COO.
The Indiana-based manufacturer said sales in North America declined 21% last year, but its sales in China reached record levels, up 25% from the previous year.
Eric Stam, co-founder and CEO of the Carmel-based Crossroads Distillery, started diversifying his alcohol production facility’s operations in April to launch a cleaning solution fundraising business earlier this week.
The Institute for Supply Management’s survey of businesses showed that 16 of 18 manufacturing industries showed growth in January. The contracting industries were printing and petroleum.
