iPhone maker plans $700M India plant in shift from China
The investment is one of Foxconn’s biggest single outlays to date in India and underscores how China’s at risk of losing its status as the world’s largest producer of consumer electronics.
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T-shirt maker United State of Indiana to open north-side store
United State of Indiana owners Graham Brown and Grant Gilman will set up shop in Monon Station retail center and plan to sell a variety of goods celebrating the state.
Stellantis making $155M investment for EV-battery production in Kokomo
Stellantis, which is also co-creating a $2.5 billion EV battery manufacturing facility in Kokomo, says the new investment will help retain 265 jobs across three facilities in the city.
Stellantis announces profit-sharing bonuses, increased earnings
Stellantis employs about 7,000 people at plants in Kokomo and Tipton in Indiana.
Made in Indiana: 12 Flavor Gummi Bears by Albanese Confectionery
12 Flavor Gummi Bears is the best-selling product for Merrillville-based Albanese Confectionery and is sold in a variety of sizes, from 1 ounce snack packs to 5 pound bulk bags.
Justice Department investigating Abbott baby formula plant
The factory’s closure in February 2022 was a key cause of a nationwide baby formula shortage that forced parents to seek formula from food banks, friends and doctor’s offices.
Dunham Rubber & Belting acquired by Georgia-based firm
Dunham, a 57-year-old Greenwood-based distributor, fabricator and manufacturer with locations in Shelbyville and Fort Wayne, was purchased by Belt Power LLC.
Catalent laying off 400 employees in Bloomington
Since 2020, Catalent had been rapidly expanding operations as it produced vaccines for both Johnson & Johnson and Moderna Inc.
U.S. business equipment orders rebounded sharply in October
The data suggest companies are largely adhering to capital spending plans as they seek to improve productivity and help counter lingering cost pressures.
Semiconductor firms plan to spend $300M, hire nearly 550 at tech campus
The Indiana Economic Development Corp. says the WestGate One campus in Odon will accelerate the re-shoring of semiconductor research and manufacturing in the U.S.
Hickory Furniture Collective buys 130-year-old Shelbyville manufacturer
Old Hickory Furniture Co., which was founded in 1892, joins the collective’s other three brands: Hickory Furniture Designs, Flat Rock Furniture and Rocky Top Furniture.
RV industry sees reduced shipments as ‘normalization’ after blockbuster year
As the recreational vehicle industry approaches the end of 2022, the nation’s economic malaise and spiking interest rates have caused buyers to tap the brakes on purchasing RVs and drift from 2021’s record-setting numbers.
Morrell Group opens facility in new Noblesville biz park
Morrell Group, which says it outgrew its location in Indianapolis, is occupying about 32,000 square feet and will employ 33 people.
Ohio offers $156M in incentives for Honda battery plant
Honda had also considered Indiana for the $3.5 billion plant, which is expected to employ 2,200 people when completed.
World Trade Organization predicts trade growth to slow next year amid crises
The World Trade Organization is predicting global trade volumes will grow a lackluster 1% next year as challenges weigh on markets, including high energy prices, rising interest rates and uncertainties about Chinese manufacturing output amid the lingering COVID-19 pandemic.
Biogen pays $900M to settle doctor kickback allegations
The deal resolves allegations that the pharmaceutical maker violated federal law by paying kickbacks to doctors to persuade them to prescribe its multiple sclerosis drugs.
Cummins posts record quarterly revenue
The Columbus-based manufacturer says its strong second-quarter was due mostly to its North American market, where revenues grew 15%.
Indianapolis-based Aearo files for bankruptcy protection amid flood of lawsuits
Aearo Technologies filed for Chapter 11 bankruptcy protection this week as a way to deal with the more than 230,000 product liability suits filed against the company and its corporate parent, 3M, in recent years over its now-discontinued Combat Arms earplugs.
Q&A: Rolls-Royce exec on $8M redesign of Indy offices
Tom Bell learned that his team of skilled workers in Indianapolis could digitally show how the Rolls-Royce engine would integrate in to the U.S. Air Force B-52 aircraft—all while working remotely.
Chip shortage leaves 95K GM vehicles incomplete in storage
The chip shortage has limited the supply of new vehicles on dealer lots in the U.S. to about 1 million, when in normal years it’s about 4 million at any given time.