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.
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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.
Japanese manufacturer plans $100M Indiana plant with 200 workers
NTN Corp. and state economic development officials announced Friday that NTN subsidiary NTK Precision Axle Corp. plans to break ground on the 300,000-square-foot facility this spring.
Subaru’s ‘spiritual’ message spurs U.S. sales as rivals use discounts
With almost all carmakers heaping on the discounts to keep the U.S. auto market at a plateau, Subaru just notched its 63rd straight monthly sales gain, with minimal incentives to get customers in the door.
Korean car parts maker targets Indy for U.S. HQ, 180 hires
Daechang Seat Co. is seeking tax breaks from the city for its plans to invest $16.8 million in a production facility and establish a base of operations in America.
Lawmakers kill employee training tax credit proposal
The bill is part of a larger discussion lawmakers are having about the $1 billion in state and federal funding that nine Indiana agencies spend on some 30 workforce development programs.
Feds dole out aid for workers hit by trade-related job losses
Employees at 45 Indiana workplaces—including 11 in the Indianapolis area—applied for federal assistance in the past 13 months because they believed they were victims of trade-related job losses.
Cummins turns in much higher profit despite lower revenue
The Indiana-based engine manufacturer saw sales sink during the fourth quarter and the entire year.
Allison Transmission results top Wall Street forecast
Allison Transmission Holdings Inc. on Monday topped analyst expectations for profit and revenue in the fourth quarter.
Japanese firm buying Indy-based logistics company for $260M
Toyota Industries Corp. is getting into the logistics business, and it’s buying Indianapolis-based Bastian Solutions LLC to get a jumpstart in the sector.
Pre-cast concrete firm planning 39 hires in Whitestown
The company, which expects to nearly double its current employee count, began renovations to its facilities in late 2016 and could begin operations this month.
Vending machines grab tech firms’ fancy
International Vending Management Inc. has been winning the affection of industry titans in and around the tech hotbed lately, and it sees plenty of room for growth.
GOP president, Congress could dump medical-device tax
For years, medical-device makers in Indiana and around the nation have insisted that the 2.3 percent tax on sales to help fund the Affordable Care Act has hurt business and slowed innovation.
RV maker Jayco to add 300-plus jobs with expansion
Thor Industries Inc. has announced plans to expand its northern Indiana operations of recreation vehicle manufacturer Jayco and add more than 300 workers.