Calumet shares hit 6-year low after big quarterly loss
Shares in Calumet Specialty Products Partners closed at $12.30 each Wednesday, down 12.6 percent on the day and 38 percent since the beginning of the year.
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Elected officials urge Carrier, UTEC to rethink Mexico move
The officials say the company should meet with them and come up with a “pragmatic” solution.
U.S. factory output rises by most in six months
U.S. factories cranked out more autos, furniture and food last month, boosting production by the most since July.
Union says no progress in reversing factory closing decision
A union leader said he'll try to put outside pressure on a company to reverse its decision to shut down a 1,400-worker factory in Indianapolis and move production to Mexico.
Officials point fingers on Carrier, UTEC layoffs
Are federal regulations to blame? Gov. Mike Pence says yes. Sen. Joe Donnelly says no. And in a now-viral video, a Carrier official tells employees the move to Mexico makes it cheaper to produce its products.
State wants cash back from Carrier, UTEC as jobs flee to Mexico
Indiana economic development officials say they will seek to recapture some of the $530,000 in incentives taxpayers have given United Technologies Corp. and its subsidiary Carrier Corp., which combined will lay off 2,100 people in Indiana and send the jobs south of the border.
Mayor launches task force to assist Carrier workers
The task force will focus immediately on identifying existing resources for workers and developing a “tool kit” to ensure those workers know about their options.
UPDATE: Carrier plans to lay off 1,400 Indy workers in Mexico move
Job losses in Carrier Corp.’s local manufacturing operations are expected to begin in 2017 and continue through 2019, the company announced Wednesday. An affiliated company also plans 700 job cuts in northeast Indiana.
Two area companies to build new HQs in Fishers
Indianapolis-based Braden Business Systems plans to move to Fishers while Stanley Security will consolidate operations in the city, Fishers Mayor Scott Fadness announced Wednesday.
Allison tops expectations despite drop in profit, revenue
The Indianapolis-based manufacturer realized earnings of $13 million in the fourth quarter, down from $50.5 million in the fourth quarter of 2014.
U.S. factory orders suffer first down year since 2009
Orders to U.S. factories fell sharply in December, closing out a year in which demand for American manufactured goods retreated for the first time in six years.
Georgia manufacturer plans to close Plainfield facility
Southwire Co. LLC plans to shut down its customer service center in Plainfield by mid-year, putting 50 employees out of work.
Work might start this year on delayed $2.7B fertilizer plant
The Posey County Economic Development Partnership said the project will have a big economic impact, creating more than 2,500 construction jobs and about 200 permanent positions at the plant.
Caterpillar closing 5 plants, cutting 670 jobs
The cuts over several states are part of a larger cost-saving campaign announced last year. They’re expected to affect operations in Indiana, where Caterpillar employs about 3,000.
Factory employing 700 workers to get reprieve
An auto parts factory near Muncie that was slated to close later this year won’t be shutting its doors after all.
Assertive analyst takes Klipsch owner to woodshed
The stock market value for Voxx today is just $118 million—far less than it paid just for Klipsch, one of a long list of acquisitions it made dating back a decade.
U.S. industrial production declined again in December
American industry is struggling even as the overall economy appears solid. In December, utilities reduced output amid unusually warm weather and energy firms cut back in the face of falling oil prices.
Hurco posts profitable quarter, year despite currency woes
The Indianapolis-based company, which makes computerized machine tools for the metal-cutting industry, said Friday morning that it would have had a record-setting year if it hadn’t been for the negative impact of currency translation.
Alcoa to close Indiana smelter, cut 600 workers
Alcoa Inc. said it will permanently close its Warrick Operations smelter, one of the largest aluminum smelting facilities in the world.
U.S. manufacturing slows at fastest pace in six years
Struggling overseas demand and declines in commodity prices that are hurting investment in energy and agriculture continue to limit orders for American manufacturers.