Hybrid-motor sales help boost Remy’s quarterly results
Pendleton-based company reported both higher profit and revenue, helped by a 20-percent increase in hybrid-motor sales.
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UAW halts vote on giveback deal at Indy GM plant
UAW Local 23 bargaining chairman Gregory Clark says members won’t vote on the proposed contract, which would cut base wages from $29 per hour to $15.50.
GM plant offer sets off union power struggle
The UAW in Detroit said Local 23 will vote Monday on Illinois-based JD Norman's proposal to buy an Indianapolis stamping
plant where more than 600 work, but a local rep says workers don't want to negotiate.
Remy to supply motors for all-electric Equinox
Remy International on Tuesday signed a contract with Cincinnati-based Advanced Mechanical Products Inc. to supply motors
for
an all-electric version of the Chevrolet Equinox.
Slumping chocolate firm hopes to recapture early momentum
Endangered Species Chocolate, which saw growth spike from 2005 through 2007, lost 20 percent of its revenue in 2009. Sales
dropped from $14 million in 2008 to $11 million last year. New Curt Vander Meer has plans to bring the company back to its
former glory, one chocolate bar at a time.
Local manufacturer Deflecto lives to see 50
Customers intervened to keep inventor of bicycle reflectors, dryer vents from going out of business.
Indiana company planning hybrid van gets GM backing
Anderson-based Bright Automotive is getting a boost from a $5 million investment by General Motors’ new venture capital arm.
Hillenbrand profit falls on acquisition costs
Excluding acquisition costs, the Batesville-based maker of caskets exceeded Wall Street forecasts with earnings of $28.1 million.
Calumet see smaller loss in second quarter
The Indianapolis-based owner of oil refineries lost $907,000 in the three months ended June 30. In the same quarter last year,
the company lost $26 million.
Delta Faucet parent lowers forecast for housing starts
The Carmel-based company backed off earlier predictions after a mid-year slow-down that could affect its sales.
Cummins’ profit rises on strong overseas sales
Columbus-based diesel engine manufacturer raised its full-year earnings forecast after second quarter profit rose to $246
million.
Federal agents’ raid hits University Loft at tough time
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.
Gas City close to deal with furniture maker
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.
Rolls-Royce snags $70M contract to service Canadian fleet
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.
Angola manufacturers plan nearly 180 new jobs
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.
Cummins gets upgrade from Moody’s
The company’s rating rose one notch because it has taken steps to insulate itself from economic downturns.
Cummins moving 100 jobs from Memphis to Mexico
The moves will leave about 1,400 employees of Cummins and its contract workers in the Memphis area.
Federal agents raid University Loft headquarters
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.
Calumet Specialty plans to sell $450 million of debt
The Indianapolis-based refiner of specialty hydrocarbon products plans to sell $450 million of senior notes. Proceeds will
be used to repay bank debt.
Herff Jones closing plant in eastern Pennsylvania
Indianapolis-based Herff Jones Inc. said it will close the printing plant in eastern Pennsylvania this fall, laying off 107
workers.