Marvel Industries Inc. plans to shift refrigerator production from Richmond to its plant in Greenville, Mich., resulting in the loss of 140 jobs in the eastern Indiana city, according to the Palladium-Item. A timetable for the pull-out was not disclosed, the newspaper said. State and local officials offered $2.6 million in incentives to keep the […]
Employees of Tyson Foods Inc.’s hog slaughterhouse in Logansport have sued the company, claiming they weren’t paid for overtime work. More than 600 of the possible 2,000 workers covered by the suit have joined as plaintiffs, their Wilmington, Del., law firm Grant & Eiesenhofer said yesterday. Overtime work referenced in the suit includes production duties […]
Casting Technologies Co. plans to add 40 jobs to 85 existing positions as it expands its aluminum parts operation in Franklin. The company sells cast parts to carmakers that are looking to reduce weight. Casting Technologies is owned by Compass Automotive Group Inc., which is headquartered in the city south of Indianapolis. Compass was created […]
An undeveloped parcel of 189 acres in Muncie has been bought out of foreclosure by the bank that foreclosed on the property, according to The Star Press. First Merchants Bank paid $2.3 million for the property, which is along I-69 at State Road 332. The land is part of a business park called Park One/332. […]
Deaconess Health System in Evansville might buy Welborn Clinic, which has nine locations in Evansville and surrounding counties, according to the Evansville Courier & Press. Neither side confirmed the merger, but one Deaconess official said talks of a sale have been ongoing. The clinic has about 650 employees, including physicians. Deaconess employs more than 3,000 […]
Duke Realty Corp. reported late yesterday that it earned $89.2 million, or 58 cents per share, in funds from operations in the first quarter. The funds were down 4 cents from a year earlier and short of the 62 cents expected by analysts surveyed by Thomson Financial. Duke attributed the result to the sale of […]
Simon Property Group today reported that funds from operations, a common measure of real estate investment trusts like the Indianapolis-based shopping mall giant, rose 7 percent in the first quarter. The $420 million amounted to $1.46 per share, slightly more than the $1.44 expected by analysts surveyed by Thomson Financial. Net income fell 10.7 percent, […]
Dow AgroSciences, the Indianapolis-based agricultural arm of Dow Chemical Co., saw profit leap to $331 million in the first quarter from $282 million a year earlier due to internal growth and acquisitions. Sales increased 27 percent, to $1.3 billion, on price increases averaging 11 percent across its global footprint, particularly in Europe and Latin America. […]
Brightpoint Great Britain Ltd., a unit of Plainfield-based Brightpoint Inc., has bought the wireless distribution business of Hugh Symons Group Ltd. for $586,000. Hugh Symons also will receive up to an additional $7.2 million if it reaches certain performance goals over the next three years. The acquisition gives Brightpoint a long-desired entry into the United Kingdom. […]
Profit at Indianapolis-based Interactive Intelligence Inc. fell 36 percent, to $1.1 million, in the first quarter due to timing of taxes on its earnings. However, the developer of business communications software saw operating income climb to $1.5 million in the quarter ended March 31 from $1.4 million a year earlier. The income was driven by […]
United States Cold Storage Inc., a Voorhees, N.J., company specializing in logistics for refrigerated and frozen food, is considering building a warehouse in Lebanon. The $50 million warehouse eventually could be as large as 423,000 square feet, according to The Lebanon Reporter. It would be built on 59 acres in Lebanon Business Park. Duke Realty […]
Buehler Foods, which operates 22 grocery stores in Indiana, Illinois and Kentucky, is being sold to Bowling Green, Ky.-based Houchens Industries Inc., according to the Evansville Courier & Press. Buehler Foods, a family owned business founded in Jasper in 1940, employs about 1,500 workers. All stores are expected to remain open and all employees will […]
Toledo, Ohio-based Heidtman Steel is shutting down a plant in Crawfordsville, displacing all 71 employees, reports the Journal Review. The plant, slated to close June 30, processes flat-rolled steel. The decision to close the plant is part of the company’s ongoing strategic evaluation to improve productivity, the Crawfordsville newspaper said. Heidtman has 16 plants in […]
United Way of Southwestern Indiana’s 2007 fund raising drive fell $500,000 short of the approximately $5.5 million it raised in 2006, according to the Evansville Courier & Press. As a result, the agencies’ 33 partners will see their United Way funding curtailed, although no existing programs will go unfunded. United Way cut a full-time position […]
The Gary/Chicago International Airport Authority Board has approved temporarily leasing 50 acres of the airport’s designated foreign trade zone to Gary’s Chase Street Industrial Center, according to The Times of Munster. The Center has applied for a foreign trade zone designation from the federal government on behalf of a tenant. The process can take two […]
Indianapolis-based Duke Realty Corp. reported it spent $89.5 million on development and $28 million on acquisitions in the first quarter, down from a total of $137.1 million in the same period last year. About $43 million of the newly developed property will be added to the company’s rental inventory. The rest will be sold. The […]
Wall Street Journal technology columnist Walter Mossberg writes in a column today that the ChaCha Web browser is “a fun and useful service.” Answers supplied by ChaCha, the Carmel startup founded by tech entrepreneur Scott Jones, generally were fast, accurate and useful, the influential columnist said. By calling 800-2chacha, Mossberg was able to find local […]
BP Alternative Energy plans to buy NiSource Inc.’s Clean Energy plant in Whiting for $210 million. The Whiting facility uses heat generated by its power station to make electricity sold on the open market. Steam generated by the station is sold to a BP refinery, also in Whiting. No job cuts will result from the […]
A development company is buying 185 acres on the east side of Shelbyville with plans to turn it into retail space. Shelbyville Development Group LLC is owned by Wyoming retail developer Tom Kremer along with Robert Rynard Jr. of Greensburg and Chad Middendorf of Louisville. Kremer told The Shelbyville News that it’s too early to […]
West Terre Haute-based Marion Manufacturing said it plans to spend $2 million to expand its operations and more than double its work force by 2011. The woman-owned business provides machining services to heavy-equipment makers like Illinois-based Caterpillar, as well as automotive, aerospace, agriculture and medical clients. The company employs 35 and expects to hire another […]
