Military contracts have helped shore up sagging sales at University Loft Co., the furniture maker federal agents raided two
weeks ago. Still, University
Loft’s work force is almost 50 percent off its recent peak.
The Gas City council has approved granting up to $2.5 million in economic revenue bonds for Echelon Furniture Inc. to locate
in a plant that Amcast Automotive shut down in 2006.
British firm’s Indianapolis manufacturing facility will provide engine management and repair services, as well as logistics
and on-site technical support for Canadian military transport aircraft.
Fuel Systems of Angola and Steffy Wood Products say they will invest a total of $4.8 million on their production facilities
in northeast Indiana, creating 178 jobs by 2013.
The company’s rating rose one notch because it has taken steps to insulate itself from economic downturns.
The moves will leave about 1,400 employees of Cummins and its contract workers in the Memphis area.
Agents descended on the contract-furniture maker to execute a sealed search warrant. A spokeswoman for U.S. Attorney Tim Morrison said no arrests were made.
The Indianapolis-based refiner of specialty hydrocarbon products plans to sell $450 million of senior notes. Proceeds will
be used to repay bank debt.
Indianapolis-based Herff Jones Inc. said it will close the printing plant in eastern Pennsylvania this fall, laying off 107
workers.
Cummins said it will invest $100 million in the Seymour plant as it rolls out a new, larger-displacement engine.
Tipton County officials had been working for months to attract Abound Solar to the 800,000-square-foot factory along U.S.
31, where it might employ as many as 850 workers.
A Colorado-based Abound Solar will get federal help taking over the empty Getrag plant on U.S. 31 near Kokomo,
creating as many as
850 jobs in the next three years and establishing what it says will be the largest such facility in the United States.
The company's total employment is 1,345, down 43 percent from 2007.
The 28-year-old company reported profit in its latest fiscal year of $43.2 million on $288.9 million in sales.
Negotiations for wage cuts meant to grease the sale of a General Motors stamping plant slated for closure will proceed over
public protest of 650 local union
workers.
United Steelworkers local president Jerry Misner says the layoffs at the Lafayette plant are effective Monday.
There’s more time for Illinois-based JD Norman Industries to hammer out a deal to buy a General Motors stamping plant
in Indianapolis, potentially saving hundreds of local jobs.
United Auto Workers official Maurice "Mo" Davison is making one last attempt
to put a deal together for a Chicago-area firm to buy the General Motors stamping plant southwest of downtown Indianapolis,
which is slated to close in 2011.
Workers at Raytheon Technical Services’ Indianapolis facility will spend four more years working on software to control electronics
on the Navy’s V-22 Osprey aircraft.
State officials say Pennsylvania-based Santelli Tempered Glass Inc. will open a 32,500-square-foot plant in Elkhart, creating
35 jobs by 2013.
