Allegion Ventures launches $100M technology investment fund
Allegion says it had such success with its first investment fund, which launched in 2018, that it’s now starting a second fund that’s twice the size of the original.
Manufacturers
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Deere warns striking workers not to expect better offer
The rejected contract offer would have covered more than 10,000 Deere workers at 12 facilities who make the company’s iconic John Deere green tractors and other equipment.
Elkhart-area RV industry boosted by record shipments
Figures compiled by the RV Industry Association show factories shipped about 55,000 units during September, setting a record for most shipments in a single month and a 32% increase from September 2020.
Ford, GM profits fall as sales drop due to chip shortage
The global computer chip shortage cut into third-quarter profits at both Ford and crosstown rival General Motors, with both companies having to temporarily close factories, pinching supplies on dealer lots.
Business economists less optimistic about next year’s growth
The slowdown has been attributed to a surge in cases from the delta variant over the summer and supply chain problems, which disrupted manufacturing output in many sectors, especially auto production and helped send consumer prices rising at the fastest pace in 13 years.
Allison Transmission to invest $42M in Chinese company’s public offering
Indianapolis-based Allison, which recently formed a partnership with Beijing-based Jing-Jin Electric, announced Wednesday that it will participate in Jing-Jin’s upcoming initial public offering.
GM sets goal to double revenue, lead U.S. in electric vehicle sales
The company also teased upcoming new electric vehicles including a Chevrolet small SUV that will cost around $30,000, as well as electric trucks from Chevrolet and GMC, SUVs from Buick, and luxury vehicles from Cadillac.
Sporting-goods firm establishing HQ, manufacturing in Plainfield, plans to hire 300
The company, recently formed to consolidate several prominent athletic gear brands, plans to invest nearly $19 million in the new facility. The state has pledged $5 million in economic development incentives.
From paints to plastics, a chemical shortage ignites prices
Shortages and price spikes are now cutting into one of the humblest yet most vital links in the global manufacturing supply chain: The plastic pellets that go into a vast universe of products ranging from cereal bags to medical devices, automotive interiors to bicycle helmets.
Honda’s Indiana factory adds new model to production line
Production has started on a new car model at Honda’s factory in southeastern Indiana. Honda executives, workers and several state officials marked the start of mass production for the 2022 Civic Hatchback at the Greensburg plant during a ceremony this past week. The new Civic Hatchback becomes the third type of vehicle produced at the […]
Beverage can company building high-capacity factory in Muncie
The factory is expected to ultimately employ about 340 people and produce about 3.6 billion cans per year.
Rolls-Royce lands huge Air Force contract, will add 150 jobs in Indy
The contract to supply new engines for the B-52 bomber fleet could be worth up to $2.6 billion. It’s one of the largest contracts that Rolls’ Indianapolis operation has ever pursued.
Lilly’s antibody treatment gets another shot
The drugmaker’s COVID-19 treatment is back on the market after a two-month suspension, but the question is whether Lilly can grab market share from now-dominant Regeneron Pharmaceuticals.
Cummins delays return-to-office plans until early 2022
The engine maker confirmed Wednesday it is pushing its return-to-office timeline to early next year as COVID-19 infections and hospitalizations surge in Indiana and the nation.
Record year expected for northern Indiana’s RV industry
A forecast released by the RV Industry Association projects a record shipment of about 580,000 vehicles this year, an increase of 34% from 2020 and 14% more than the previous highest mark in 2017.
Major Tool and Machine acquired by Maine-based company
One of the largest and oldest manufacturers in Indianapolis has been sold to a Maine-based company with multiple divisions in the United States and Canada, the companies announced Tuesday.
GM extends recall to cover all Chevy Bolts due to fire risk
The recall and others raise questions about lithium ion batteries, which now are used in nearly all electric vehicles. Ford, BMW and Hyundai all have recalled batteries recently.
Indianapolis-based Calumet to invest $2.7M in recently-acquired wax maker
Calumet, which acquired Muncie-based Paralogics LLC in March 2020, now says it plans to expand the facility and hire up to 20 more employees there by 2025.
Rolls-Royce celebrates completion of $600M in upgrades to local manufacturing campus
The $600 million project, announced in 2015, included upgrades to the facilities, machinery and manufacturing processes at Rolls-Royce’s Indianapolis operations. A pandemic-delayed celebration of the project is scheduled to take place Wednesday afternoon.
Supply-chain squeeze contributes to 2Q loss for Calumet Specialty
The Indianapolis-based manufacturer posted a $78.4 million loss in the second quarter.