Firm’s Klipsch purchase hasn’t rocked Wall Street
Voxx International Corp.’s $166 million buyout of Indianapolis-based speaker maker Klipsch Group two years ago so far hasn’t generated the excitement on Wall Street that Voxx wants.
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Cummins’ earnings, revenue fall on weaker demand
Engine maker Cummins Inc. saw profit sink 30 percent in the fourth quarter as demand for its products fell in both domestic and international markets. Full-year profit and revenue also fell.
Remy International CEO Weber stepping down
Remy International Inc. President and CEO John Weber will resign at the end of February after leading the company for seven years, the Pendleton-based automotive supplier announced Friday.
Rolls-Royce cutting production jobs in Indy
Rolls-Royce has offered buyouts and early retirement to 28 union production workers because of decreased product demand. The company declined to say whether any non-union workers were being cut.
Tool-maker Hurco makes headway after tough stretch
The company, which develops computer-controlled equipment for cutting and forming metal, made progress in fiscal 2012 toward restoring profitability to pre-recession levels.
Local tooling manufacturer acquired by private-equity firm
Techniks Inc., a designer and distributor of industrial cutting tools, has been acquired by Tenex Capital Management. Tenex, in turn, merged Techniks into another of its companies, Jasper-based Nap Gladu, to form a new holding company.
Trafalgar company bringing reflective technology to consumer market
Halo Coatings, founded in 2007, spent its early years licensing its proprietary reflective technology for powder-coating applications to companies involved in highway infrastructure, such as guardrails. But it’s now shifting its focus to the big players in the apparel, medical and consumer-product fields.
Fishers auto supplier moving to Anderson
Keihin North America Inc. plans to relocate between 130 and 175 management, engineering and development jobs to the Flagship Enterprise Center.
Sun King brewery lands tax breaks for expansion
The downtown brewery plans to spend $2.1 million on additional equipment and add 20 jobs by 2016 in exchange for a tax abatement from the city.
Foul odor spurs Oliver Winery hard-cider lawsuit
The Bloomington-based winery claims in a federal lawsuit that it was forced to recall its hard apple cider due to defective cans provided by Ball Metal Beverage Container Corp.
Muncie-based glass maker to be sold for $1.6B
Ardagh Group said it has agreed to buy Indiana-based glass bottle and jar manufacturer Verallia North America, which has about 4,400 employees at 13 manufacturing plants in the United States, including more than 650 workers in Indiana.
Analyst cuts Cummins rating, citing rise in shares
Analyst Stephen Volkmann lowered his rating on the engine maker's stock to "Hold" from "Buy," noting that the shares have risen 30 percent from their October lows and are now just 10 percent below all-time highs.
Hurco reports increase in quarterly, annual profit
The Indianapolis-based maker of computer-controlled machining tools attributed much of the increase to higher demand for its products in North America and Europe.
Tipton manufacturer with 173 workers says its closing
Steel Parts Manufacturing Inc. says it plans to close its plant in Tipton, ending employment for 173 workers. The company told the state the closure and layoffs will begin Feb. 28 and end by March 14.
Report: Plug-in vehicles slow to spark interest in Indy
Plug-in electric vehicles, which are struggling to gain traction nationwide, have even less appeal in central Indiana than they do in most areas of the country, a new study says.
Sensient settles over use of ‘popcorn lung’ chemical
The locally based flavor maker has agreed to reduce its usage of diacetyl, which had prompted fines from the state. The deal significantly reduces the amount of the penalty—from $325,500 to $99,000.
Slinky maker’s owner buys bankrupt Fundex for $1.7M
Private equity firm Propel Equity Partners is acquiring Fundex following a court-ordered auction in which a surprise bidder surfaced, driving up the price of the company.
GM to buy back 200M shares as part of government exit
The Treasury plans to sell its remaining stake in General Motors over the next 15 months, allowing the automaker to shed the stigma of being partly owned by the U.S. government.
Chrysler plans 400 more jobs, $212M expansion in Kokomo
Chrysler Group LLC on Monday night said it was planning to spend as much $212 million on another expansion in Kokomo that could add more than 400 jobs.
Carmel poised to gain HQ of new public company
Ingersoll-Rand PLC said it plans to spin off its commercial and residential security unit, which is headquartered in Carmel, into a separate public company. The security division has $2 billion in annual revenue and 1,300 employees in the Indianapolis area.