Calumet posts $6 million loss, still beats analyst expectations
The Indianapolis-based refinery company’s financial results, released Thursday morning, showed marked improvement over the same period a year ago.
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BorgWarner plans to spend $28M on new Noblesville tech center
BorgWarner Inc. is set to close two technical centers in central Indiana and consolidate them into a newly constructed facility in Noblesville that will house more than 300 high-wage employees, the Hamilton County city announced Wednesday afternoon.
Cummins raises outlook after strong quarterly results
The engine maker’s profit and revenue in the first quarter beat the expectations of analysts.
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.
Allegion reports improved quarterly sales, profits
The security-product maker’s first-quarter financial results topped analyst expectations.
Allison Transmission posts stronger-than-expected quarterly sales
The Indianapolis-based manufacturer revised its full-year sales expectations after revenue rose 8 percent.
Supreme Court turns away GM appeal over ignition switches
General Motors Co. was seeking to block dozens of lawsuits over faulty ignition switches that could expose the company to billions of dollars in additional claims.
Rise in internet-connected devices creates new cybersecurity concerns
Aerospace and defense companies are working to thwart digital attacks from several sources and expect huge demand for workers in the field.
Toyota Industrial plans $17.5M expansion of forklift plant
The company, which makes forklifts and other material-handling equipment, announced Tuesday that it will add 150,000 square feet to its complex, bringing the total to 1.3 million square feet.
Big bakery meets early goals, plans $16.5M in new equipment
Fast-rising CraftMark Bakery wants to sweeten its investment and hire 32 more workers by expanding production capacity at a $75 million headquarters and manufacturing facility built in 2014 in Indianapolis.
Indianapolis furniture manufacturer relocating to Whitestown
Facility Concepts Inc., one the country’s largest commercial furniture makers, plans to move its headquarters and 117 jobs to a $10 million development in AllPoints at Anson by Duke Realty and Browning Investments.
China auto-parts maker to build $80M plant in Greenfield, hire 441
A Beijing-based manufacturer of brake and suspension systems has chosen the Indianapolis area as the site of its first U.S. production facility.
Cummins, Eaton planning $1.2 billion joint venture
Each company is expected to have equal ownership of the joint venture, which will focus on medium- and heavy-duty automated transmissions.
High-profile Carrier incentives deal unusual for Indiana
The deal brokered by President Donald Trump to stem job losses at a Carrier Corp. factory in Indianapolis is unusual for the state of Indiana because it doesn’t involve job creation.
U.S. manufacturing production rises for sixth straight month
Companies are spending more on big-ticket items such as industrial machinery, and Americans are buying cars at near-record levels. Overseas growth has spurred more exports.
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.
Council panel OKs $148K to fund ‘economic recovery coordinator’
The person hired for the position is expected to help workers from Carrier Corp. and Rexnord Corp. who are about to lose their jobs—along with trying to help revitalize old industrial sites.
Saran Industries to close Indianapolis plant with 110 workers
Saran, which does industrial finishing and machining work, told the Indiana Department of Workforce Development that it expects to close the local facility by June 30.
Hurco sees quarterly shrinkage in profit, sales
The Indianapolis-based manufacturer was encouraged by a big increase in orders during its latest quarter.
Caterpillar offices raided by feds
The exact reason for the raid was unclear, but the manufacturer told the SEC in a filing last month that the IRS believes it owed $2 billion more in taxes for the years 2010 to 2012 due to profits from its Swiss unit.