Durable goods orders suffer worst drop in three years
Businesses slashed spending on machinery and equipment in January after a tax break expired, pushing orders for long-lasting manufacturing goods down by the largest amount in three years.
Manufacturers
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Auto town Kokomo on the mend, but bailout still divides
The U.S. auto industry and Kokomo have staged an amazing comeback. But the resurrection of U.S. automakers has done little to resolve a deep political divide over the bailout.
Allison Transmission profits tripled in 2011
Net income of $103 million last year compares with a profit of $29.6 million in 2010 and a loss of $323.9 million in 2009, according to a document the transmission maker filed Feb. 17 with the Securities and Exchange Commission as part of its planned IPO.
Manufacturer plans to add 70 jobs in Wells County
Haven Manufacturing in Ossian, south of Fort Wayne, makes orthopedic instruments, industrial parts and special tooling for the medical, furniture, aerospace and transportation industries.
Former worker files federal suit against ASI
An ex-employee of manufacturer ASI Limited in Whitestown is suing the company for allegedly failing to give workers a required 60-day notice that the plant was closing. The lawsuit seeks class-action status on behalf of roughly 200 terminated workers.
Steel Dynamics to expand Pittsboro operations
Fort Wayne-based Steel Dynamics Inc. plans a $76 million expansion in Pittsboro, increasing the mill’s capacity by 52 percent, the company announced Thursday.
Columbus manufacturer to begin solar panel production
Nusun Solar says an endorsement by Underwriter’s Laboratories should lead to mass production of its commercial and residential panels.
Calumet Specialty revenue, profit jump after acquisition
Indianapolis-based Calumet Specialty Products Partners LP said Wednesday morning that a major refinery acquisition helped company revenue and profit soar in the fourth quarter as compared to the same period in 2010.
Rolls-Royce’s profits in line with expectations
Rolls-Royce Holdings Plc, the world’s second-largest aircraft-engine maker, said profit rose in line with estimates, buoyed by a backlog of orders from Boeing Co. and Airbus SAS.
Local manufacturer tapped for trade mission to Russia
Hoosier Gasket Corp. hopes to land more business in Russia, where a growing middle class and new financing options are fueling the automotive market.
Toyota plans to add 400 jobs in southwest Indiana
Toyota Motor Corp. said Wednesday afternoon it would add 400 jobs in Princeton after consolidating production of its Highlander mid-size SUV.
Manufacturing plant closing in northwest Indiana
Newnan, Ga.-based Bon L. Manufacturing Co. is set to close its facility in Kentland by mid-June, throwing 146 employees out of work.
Cummins posts record results for quarter, 2011
Columbus-based diesel engine maker Cummins Inc. reported record results for 2011, earning $1.85 billion on revenue of $18 billion.
Lotion maker relocating operations to Indianapolis
Indianapolis-based New Sunshine, which is owned by a group led by former Conseco Inc. CEO Stephen Hilbert, said it will add 180 jobs by moving a manufacturing facility from Tempe, Ariz.
French breast-implant recall could sway U.S. device debate
U.S. medical device makers have spent the last year urging government officials to approve high-risk products faster, like their European counterparts. A scandal over leaking breast implants made in France, however, may make the argument more difficult.
Hurco reports fourth straight quarterly profit
Strong sales in North America and Europe helped the Indianapolis-based machine-tool maker.
Calumet Specialty Products buys synthetic lubricant business
The purchase included 22 acres of land and a factory in Louisiana, Mo.
Ex-Peterbilt dealer hauls trailer manufacturer to court
A longtime Indianapolis-based Peterbilt dealer is suing California-based Utility Trailer Manufacturing Co. for allegedly blocking the sale of the dealership’s trailer sales arm.
Klipsch pushes up earnings for parent company
Klipsch Group parent company Voxx International Corp. said its earnings nearly doubled in its fiscal third quarter, thanks in part to the Indianapolis-based speaker maker it acquired last year.
Great-grandson of LDI’s founder prepares to take reins
In a world that likes to see businesses grow by leaps and bounds, LDI Ltd. is a tortoise. The family-owned holding company typically hangs onto firms in its portfolio for 15 years or more. It might take more than two years to zero in on an acquisition target. And it’s putting its next CEO, J.A. Lacy, through a year-long apprenticeship.