Calumet Specialty Products CEO set to leave company
Calumet CEO Tim Go, who has spearheaded turnaround efforts at the Indianapolis-based oil refiner and maker of specialty petroleum products, will leave his post at the end of May.
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Former SerVaas Laboratories employee sentenced in $772K fraud case
The long-term employee was sentenced to 27 months in prison after she admitted to stealing from the Indianapolis-based company, which makes the famous Bar Keepers Friend line of cleaning products.
U.S. orders for durable goods slipped 0.2% in January
Orders to U.S. factories for big-ticket manufactured goods were pulled down by decreased demand for cars, auto parts and military aircraft, but the category that tracks business investment rose significantly.
Best Chocolate in Town acquired, closes Mass Ave store
Longtime local candy company The Best Chocolate in Town has been acquired by Indianapolis-based Newfangled Confections, which is known for it popular signature Frittle candy.
China suspends more penalties on U.S. goods after trade truce
Goods affected by the latest reduction include industrial components and medical and factory equipment.
Allison Transmission’s 4Q performance beats analyst expectations
Indianapolis-based Allison Transmission Holdings Inc. on Wednesday reported lower fourth quarter revenue and earnings than a year ago, but the results beat Wall Street predictions.
Automakers in China gradually reopen after virus shutdown
Local officials have orders from the ruling Communist Party to get businesses functioning again while still enforcing anti-disease curbs that have shut down much of the world’s second-largest economy.
GM scrambles to shield U.S. plants from virus disruption
A United Auto Workers union member said the threat of parts shortages at GM facilities is growing, but the automaker doesn’t expect to have to pause production at plants in Indiana, Michigan and Texas, according to spokesman.
Real estate pros bullish on Diamond Chain site
The planned closing of the 102-year-old factory in the southwestern corner of downtown likely will throw into play a nearly 18-acre site that real estate experts say would be attractive for myriad uses.
Hoosier manufacturers prepping for NAFTA 2.0
The new agreement isn’t vastly different from NAFTA, observers say, but does contain new provisions automakers will be paying attention to—even if the impact of these provisions isn’t yet entirely clear.
Hamilton County key to hemp supply chain
Hemp-processing companies are investing millions of dollars into refineries across Hamilton County to close a gap in the state’s CBD supply chain.
Candy firm sues Jelly Belly over look-alike packaging
A Carmel-based company is suing the Jelly Belly Candy Co. because it says the jelly bean maker’s packaging is too similar to its own and could cause customer confusion.
Startup’s solution to back pain gaining traction with auto industry
Comfort Motion Global has five patents on a software-based system that uses algorithms to make periodic micro adjustments to automobile seats.
Cummins sees 4Q sales drop, expects bigger revenue decrease this year
The Columbus-based engine-maker said it expects sales to drop another 8% to 12% in 2020, it expects its full-year 2020 revenue to decline between 8% and 12%, mostly because of lower truck production in North America, Europe, China and India
Clock ticking for companies that depend on China imports
If much of industrial China remains on lockdown for the next few weeks, Western retailers, auto companies and manufacturers that depend on Chinese imports will start to run out of the goods they depend on.
Century-old Diamond Chain downtown plant with 240 employees set for closure
New owner Timken Co. plans to consolidate the local plant’s operations in Illinois. Diamond Chain was founded in 1890 as the Indianapolis Chain & Stamping Co., originally to produce chains for the nation’s fast-growing bicycle industry.
Survey: U.S. factories expand for first time since July
New orders, production and export orders all grew last month. Factory hiring dropped for the sixth straight month but at a slower pace than it did in December.
IU professor builds IoT-based system to save factories millions on energy bills
Amrou Awaysheh, an IU Kelley School of Business assistant professor of operations management, is building an IoT-based system he says can save factories $100 million annually in verified energy savings.
Lilly to build $470M manufacturing plant in North Carolina
Eli Lilly and Co. said it considered sites in Indianapolis and Pennsylvania but chose North Carolina for quality of life, cost of operations and geographical diversity.
GM says 1,350 temp employees to get full-time jobs
The workers got a path to full-time status in contract negotiations between the United Auto Workers union and the company.