Gun maker offers $33M to settle suit by Sandy Hook families
The settlement offers were filed a day after a judge denied Remington’s request to dismiss the lawsuit.
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Cummins launches water-access program with $8M commitment
The new program, Cummins Water Works, will focus on improving access to safe water in the U.S., Mexico, Brazil, India and South Africa.
Conexus Indiana hires innovation-focused executive as its new president, CEO
Conexus’ new president and CEO, Fred Cartwright, has held a variety of innovation-focused leadership positions in the manufacturing industry, including at Allison Transmission, General Motors and an automotive research facility affiliated with Clemson University in South Carolina.
Stellantis: 98% of its vehicle models to be electric or hybrid by 2025
The company that combined Fiat Chrysler and Peugeot is developing four fully electric vehicle platforms with ranges from 311 miles to 497 miles, it said.
Australian biopharma firm planning to hire 20 at U.S. headquarters in Fishers
The radiopharmaceutical developer and manufacturer is the latest in a string of life sciences firms that have announced plans to grow operations in Fishers.
Rolls-Royce confirms plans to consolidate downtown office space
Citing multiple sources familiar with the project, IBJ first reported on the company’s overall plans June 17. Rolls-Royce said Monday that it does plan to vacate two of the three buildings at the Meridian Center campus, but said it would continue to occupy a different building than earlier reported.
Some used vehicles now selling for more than original sticker price
In the past year, used vehicle prices on average have climbed 30%, according to Black Book, which tracks car and truck data. That’s created many crazy situations where high-demand vehicles are selling for more than they did when they were new.
2021 Indiana 100: Tech, younger customers key to RV maker’s growth
Bob Martin is the head of Thor Industries, one of the biggest publicly traded companies in Indiana and, instead of resting on his laurels, he’s creating technology-oriented executive roles within his company and looking to make big technological advancements in Thor’s products.
2021 Indiana 100: Vera Bradley exec marries creativity, business needs
She started at the company as vice president of design and is now chief creative officer, meaning she oversees the brand’s signature product designs and works closely with the product development and technical design teams.
Panelists: Companies can make supply chains more resilient to disruption
Companies that map their supply chains can gain insights into where its various tiers of suppliers are located, the relative importance of each supplier and other critical data points, industry experts said at an IBJ event Friday.
Korean auto supplier plans to expand local presence with Franklin facility
Daechang, which makes seating components for Kia, Hyundai and Subaru, established its North American headquarters in Indianapolis in 2017. The Franklin facility would be its second local site.
Hillenbrand CEO set to retire at end of year
Joe Raver, Hillenbrand Inc.’s president and CEO since 2013, will be succeeded by Kimberly Ryan, who has been with the company for more than 30 years.
2021 Innovation Issue: Supply chains remain a challenge across industries
Even as U.S. COVID-19 cases have declined, supply-chain problems have persisted. For a variety of reasons—from shifts in consumer behavior to a plummet in available airline flights to congestion at ocean ports—the pandemic has scrambled everything across a wide swath of industries.
2021 Innovation Issue: When the chips are down, manufacturers scramble
A global semiconductor shortage, driven in large part by pandemic-related factors, is forcing many central Indiana manufacturers and distributors to broaden their supply base and forecast their needs longer term, along with hoping for federal aid from the president’s infrastructure proposal.
Ford betting big that fans of F-150 pickup will embrace electric
Ford is taking a significant risk by sinking so much capital into an electric version of a pickup that commands a huge and loyal following. In a typical year, Ford sells about 900,000 F-series trucks. It has been America’s top-selling vehicle for nearly four decades.
Winter storm contributes to 1Q loss for Calumet Specialty Products
Calumet said Winter Storm Uri, which brought snow and record cold across the U.S. in February, hurt production at the company’s Gulf Coast refineries during the quarter. The first-quarter losses push the company’s total losses since 2014 above $1 billion.
Cummins raises full-year outlook after better-than-expected quarterly results
Indiana-based engine manufacturer Cummins Inc. on Tuesday reported first-quarter revenue and profit that exceeded analyst expectations.
Rental companies buy up used cars as chip crisis deepens
The demand is sending used-car costs soaring. The Manheim Index, which measures prices at wholesale auctions, shows that they’re 52% higher than they were a year ago.
Growth in U.S. manufacturing slowed in April from March high
April was the 11th consecutive month manufacturing has grown after contracting in April 2020, when the country was struggling to deal with the shutdowns caused by a global pandemic.
Allison Transmission raises sales forecast amid ongoing pandemic recovery
The Indianapolis-based manufacturer said it expects 2021 net sales to range from $2.33 billion to $2.48 billion. That’s an improvement from the guidance the company issued in February.