U.S. factories showed growth in January, but at slower pace
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.
Suppliers
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Staples seeks to buy Office Depot parent in $2.1 billion deal
Staples previously tried to buy Office Depot, but the $6.3 billion acquisition was called off in 2016 amid antitrust scrutiny.
Company specializing in steel wheels plans Indiana facility
Officials announced Friday that Indiana Wheel Corp. plans to spend nearly $23 million to purchase, renovate and equip the facility, where it will hire up to 117 workers.
Cummins possible suitor for VW peripheral unit valued at $3.4B
Volkswagen AG is renewing efforts to sell minority stakes in non-core operations to streamline its business and focus on the main passenger-car brands, according to people familiar with the matter.
U.S. expands probe into air bag failures to 12.3M vehicles
Vehicles made by Toyota, Honda, Kia, Hyundai, Mitsubishi and Fiat Chrysler from the 2010 through 2019 model years are included in the probe, which was revealed Tuesday in documents posted by the National Highway Traffic Safety Administration.
Allison Transmission seeking $2.7M tax break from city on $34.5M testing facility
Officials for the Indianapolis-based transmission giant tell city officials that the project would create 193 jobs that pay an average of $20.39 per hour, as well as help it retain current employees.
Automakers recall 1.7M cars with potentially fatal airbags
Cars from Subaru, Tesla, BMW, Volkswagen, Daimler Vans, Mercedes and Ferrari are included in the latest round of recalls involving airbag inflators that can hurl shrapnel into drivers and passengers.
Car parts maker planning to triple workforce in Richmond
The subsidiary of Israel-based Omen Casting Group wants to boost production to help meet demand in America and Germany for its aluminum drivelines, steering components and oil pumps.
Sears suppliers haunted by ghosts of Toys ‘R’ Us
Suppliers are still gun-shy after their experience with Toys ‘R’ Us, which went out of business months after filing for Chapter 11 reorganization in the fall of 2017, leaving them with millions of dollars in unpaid bills.
Indianapolis consulting firm acquired by Cincinnati company
Indianapolis-based Allegiant International has seen tremendous growth in recent years thanks to its supply-chain work with General Motors.
Allison Transmission reports big jumps in profit, revenue
The Indianapolis-based manufacturer exceeded Wall Street expectations in both earnings and sales in the latest quarter.
German auto parts maker plans Indiana expansion, 120 hires
ElringKlinger intends to add $20.6 million in manufacturing, logistics and information technology equipment to its Fort Wayne plant.
Vehicle parts maker plans $7M tech center in Fishers
Thyssenkrupp Steering will create 64 new jobs and plans to move existing positions from its operations in Indianapolis to the new location at Exit Five Parkway.
Indianapolis-based engineering firm acquires automotive supplier
Echo Engineering and Production Supplies Inc. expects its revenue to swell to $50 million next year as it takes on more outsourced work from stressed car makers.
Allison Transmission raises forecast after solid quarterly report
Allison Transmission Holdings Inc. raised its full-year sales projections after reporting better-than-expected revenue and earnings in the third quarter.
Auto parts firm plans Fort Wayne expansion, adding 313 workers
Android Industries provides components for the nearby General Motors truck assembly plant.
Auto industry supplier plans $40M manufacturing facility, 180 hires
Canada-based Multimatic Inc. says the 125,000-square-foot facility should be in operation in New Haven by the end of the year.
Subaru supplier adding more than 100 Boone County jobs as part of $57M expansion
A joint venture of two Japanese companies that makes steel frames and other parts, primarily for Subaru, said it will double the size of its Jamestown plant to 250,000 square feet.
Indy 500’s first presenting sponsor sees growth spike, gears up for more
Since local entrepreneur Mike Protogere bought D-A Lubricant Co. Inc. in 2002, the manufacturer of oil, grease, antifreeze and other industrial products has shifted into overdrive and punched the gas.
Inspection firm grows with changing auto industry
Steve Cage started a quality-control business focused on the automotive industry near the peak of the Great Recession. In 2009, the company made $8 million in revenue. In 2016, revenue hit $122 million.