The London-based company, which has 4,000 employees in Indianapolis, has cut divisions and eliminated more than 600 senior and middle-management positions over the past year. It just hired a new chief financial officer.
The city of Indianapolis has received a $355,000 federal grant to help support about 1,400 workers displaced by Carrier Corp. The grant will be used to hire a “recovery coordinator.”
A federal agency has stepped in to pay almost all of a $36 million shortfall in pension benefits for current and future retirees of Vertellus Specialties Inc., an Indianapolis-based manufacturer that is working its way through a Chapter 11 bankruptcy.
A federal bankruptcy judge approved the sale of Indianapolis-based chemical company Vertellus Specialties Inc. on Thursday after the U.S. Environmental Protection Agency withdrew its objection to the sale.
Indianapolis-based Vertellus Specialties Inc. is at odds with the U.S. Environmental Protection Agency over whether a proposed $454 million sale of the chemical company will provide adequate resources to address environmental cleanup needs.
North American sales for the Indianapolis-based manufacturer dropped 19 percent in the third quarter due to pricing pressure and reduced consumption of machine tools.
The report suggests that manufacturers continue to struggle as businesses spend less on machinery, computers and other large equipment. Auto sales have also leveled off this year after reaching a record level in 2015.
Chemical company Vertellus Specialties Inc. says the $454 million deal arranged in bankruptcy proceedings will allow it to continue operations with its current leaders.
Supremex Inc. hopes to put its stamp on the Midwest by purchasing 88-year-old Bowers Envelope Co. Inc.
Moriden America makes cargo systems and interior trim for the auto industry and plans to ramp up production to meet demand from a Subaru assembly plant in Lafayette.
Orders for durable goods jumped 4.4 percent in July, bouncing back from a 4.2 percent plunge in June, the Commerce Department reported Thursday.
Currently working its way through Chapter 11 bankruptcy, the firm expects the closure at its Tibbs Avenue plant to affect dozens of employees.
General Motors officials are set to announce what is expected to be a major investment at an Indiana factory that will allow it to retain more than 1,400 jobs.
After a six-year run-up for the Indianapolis-based oil refiner that saw its revenue nearly double, the company has eliminated about 25 jobs, 2 percent of its workforce, in recent months.
The Columbus-based engine maker will be part of a federal program aiming to more than double the freight efficiency of 18-wheelers.
U.S. factories cranked out more autos, machinery and chemicals in July. But even as And even as output ticks up, manufacturers aren’t adding many jobs.
The company on Thursday said the plant would close Aug. 26. The closure will put more than 300 people out of work.
In the school year that ended in May, nearly 175,000 students were enrolled in more than 235,000 career and technical classes. That’s an 11 percent increase since the 2012-2013 school year, when Gov. Mike Pence challenged schools to serve students going to work as well as students going to college.
Cummins Inc. was able to top analyst expectations with its second-quarter performance despite a slowdown in sales and profit.
Allison Transmission posted revenue of $474.9 million in the period, down from $511 million last year.
