Millennium Industries, an auto-parts maker in the northern Indiana town of Ligonier, plans to build an additional 30,000 square feet of production and warehouse space, the Indiana Economic Development Corp. said yesterday. The expansion would create 170 jobs in addition to 250 existing positions. Millennium, which makes fuel rails and power-steering components, received $625,000 in […]
Parsons Corp., a Pasadena, Calif., company that is destroying the V-X nerve gas stored at the Newport Chemical Depot in western Indiana, has started closing down the operation as the three-year project nears completion. Parsons has informed the Indiana Department of Workforce Development that it will begin laying off 412 workers at the site in […]
Plainfield distributor MD Logistics plans to expand its pharmaceutical warehouse and add 75 workers by 2012, the Indiana Economic Development Corp. said today. The $1 million project would add 15,000 square feet of cold storage. MD operates three sites in Plainfield totaling more than 750,000 square feet.
Escalade Inc., an Evansville-based sporting goods manufacturer, plans to close its final Evansville plant in an effort to restore profits and boost a sagging stock price. Table tennis production will be moved to Mexico beginning Sept. 5, causing 30 workers to lose their jobs, according to the Evansville Courier & Press. In February the company […]
The decision by Toyota Motor Manufacturing Indiana to stop assembling Tundra pickup trucks at its plant in Princeton will result in as many as 40 of its workers being transferred temporarily to the Subaru of Indiana Automotive Inc. assembly plant in Lafayette. Subaru, which assembles Camry sedans for Toyota, will absorb the Toyota workers as […]
A farm auction scheduled near Frankfort is thought to be one of the largest in the state in the past couple of years. Schrader Real Estate and Auction Co. Inc. of Columbia City plans to auction 1,222 acres from the estate of Ron Unger, a farmer who started from scratch and built the operation to […]
Huntingburg office furniture manufacturer OFS Brands Inc. has acquired Loewenstein Inc., a maker of hotel furniture headquartered in Pompano Beach, Fla., for undisclosed terms. Family-owned OFS said the deal opens a seamless expansion into the hospitality market, and that OFS would protect the character of the Loewenstein brand and allow it to operate independently in […]
Indianapolis-based Pharmakon LTC Pharmacy Inc. will pay an average of $50,000 a year to each of the 52 employees it plans to add in the next five years. The institutional pharmacy will move to a larger headquarters and warehouse in Carmel as part of its expansion, Indiana Economic Development Corp. said today. The $1.2 million […]
One-time events caused Finish Master Inc. profit to rise to $5.3 million in the second quarter from $4.6 million a year earlier, the Indianapolis company reported yesterday. However, the improvement was driven by proceeds from a lawsuit settlement and a non-recurring charge from the second quarter of 2007. Not taking those one-time changes into consideration, […]
Delphi Corp. plans meetings today with salaried workers at the company’s Electronics & Safety Division in Kokomo – meetings that employees fear will precede massive layoffs. Rumors of sweeping layoffs are unfounded, a Delphi spokesman told the The Kokomo Tribune. The Troy, Mich., auto parts maker learned Friday that that it must shift $1.5 billion […]
Lafayette-area leaders anticipate meeting soon with Eli Lilly and Co. officials to try to play a role in the Indianapolis-based drug giant’s plans for the 54-year-old Tippecanoe Laboratories, according to The Journal & Courier of Lafayette. Lilly said July 30 that an announcement on the future of the plant would be forthcoming within a year. […]
Rick Nisbeth, a prominent investment banker in Indianapolis before leaving the city in 2002, has retired from Citrus Bank in Boca Raton, Fla. Nisbeth, 60, was Citrus chairman, president and CEO. The bank is a subsidiary of CIB Marine Bancshares Inc., which is headquartered in the Milwaukee suburb of Pewaukee. CIB sold Citrus to 1st […]
Indianapolis-based CTI Group Holdings Inc. reported $533,412 in red ink in the second quarter after turning a $48,957 profit a year earlier. The company, which focuses on software for enterprise networks and telecommunication services providers, attributed the loss to ongoing costs to enforce its patents. CTI stock, which closed yesterday at 34 cents per share, […]
Polaris Laboratories LLC, an Indianapolis company that analyzes oil, fuel and coolants, plans to create 80 jobs in the next six years, Indiana Economic Development Corp. said today. Polaris, which has 84 workers and is based at 7898 Zionsville Road on the far northwest side, will spend $1.65 million to add 10,000 square feet to […]
The 500-employee office complex Cummins Inc. is building near its headquarters in downtown Columbus might have ended up in another state had the city not offered to pay for a new parking garage. The claim came Tuesday during Mayor Fred Armstrong’s mid-year State of the City report, according to The Republic of Columbus. Armstrong’s remarks […]
Poet LLC, a Sioux Falls, S.D., ethanol distiller, wants to build a fourth plant in Indiana, according to The Journal & Courier of Lafayette. The $260 million plant would be located at West Lebanon, which is west of Lafayette, and produce 115 million gallons a year. Poet operates sites in Jay and Madison counties and […]
Olympic divers in Beijing are jumping off aluminum springboards made at Alcoa Inc.’s plant in Lafayette, according to The Journal & Courier of Lafayette. The boards were extruded in Lafayette and sent to a Nevada company, Duraflex International, to be finished and coated. The Lafayette plant also supplied boards used in U.S. Olympics Diving Trials […]
AIT Laboratories has added 77 local jobs this year, exceeding the 50 jobs it promised to add by the end of the year. Seventeen are sales jobs outside the Indianapolis area. The job growth brings total AIT employment to 224. The growth is in addition to the 60 jobs added in 2007. In the past […]
Carmel-based KAR Holdings Inc., which owns the Adesa Inc. auto auction and Insurance Auto Auctions Inc., reported late yesterday that second-quarter profit increased nearly 35 percent to $6.2 million from the second quarter last year. KAR, which didn’t elaborate on the performance, had no operations until its acquisition of Adesa closed on April 20 in 2007. […]
Tony Lennen, who has led Major Hospital in Shelbyville for 15 years and has been one of the city’s most energetic economic development leaders, resigned unexpectedly on Monday. Lennen wouldn’t comment on the move, according to the Shelbyville News. Hospital officials deferred questions to Lennen, saying it was a personnel matter. However, board members accepted […]
