Feds finalize deal to give SK Hynix $458M for West Lafayette facility
The chip manufacturer announced plans in April to open a 430,000-square-foot building spanning 90 acres in the second half of 2028.
Manufacturing
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Biden will decide on US Steel acquisition after influential panel fails to reach consensus
Nippon Steel of Japan has pledged to invest $2.7 billion in U.S. facilities, including blast furnaces in Gary and in Pennsylvania.
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Carmel company elevates profile through IndyCar and coffee shops
Ted Gelov, the owner of Carmel-based Heartland Food Products Group, is turning to IndyCar to build the brand of Java House, a cold brew coffee product that debuted in 2018.
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Yamaha Marine completes relocation to Greenfield
The company, which makes stainless steel boat propellers for Yamaha’s outboard engines, invested $20 million to add 110,000 square feet to the facility.
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Swiss manufacturer Rego-Fix opens expanded facility in Whitestown
The 12,000-square-foot addition, named the Center for Machining Excellence, will partly serve as an incubator for other foreign companies that want to do business in Indiana.
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Articles
Purposeful Design rebuilds lives as participants build furniture
The east-side company is about to finish 2024 with more than $2.7 million in sales—up from $1.35 million four years ago. By 2026, the business expects sales to reach $3 million.
Nippon Steel clarifies spending pledge in effort to save U.S. deal
Nippon Steel is seeking to allay concerns over job security at plants that use traditional blast-furnace production from iron ore as part of its pending $14.1 billion takeover of U.S. Steel.
Lilly to spend $3B to expand Wisconsin factory
Under pressure to keep up with soaring demand for drug treatments for obesity, diabetes and other diseases, Eli Lilly and Co. is planning its single largest U.S. manufacturing investment outside of Indiana.
Indianapolis manufacturer Aurorium names new CEO
Longtime Indianapolis-based chemicals manufacturer Aurorium, which did business as Vertellus until a rebranding last year, has promoted Faye Freeman to CEO.
Trump vows to block Japanese steelmaker from buying U.S. Steel
President-elect Donald Trump is pledging to use tax incentives and tariffs to strengthen the iconic American steelmaker, which has major operations in Indiana.
U.S. commits to $7.54B loan for Stellantis venture to build 2 EV battery plants in Indiana
The project being built by StarPlus Energy LLC is expected to create at least 2,800 jobs at the two plants and hundreds more at a nearby park for parts-supply companies.
Indiana-based Berry Global acquired by Swiss packaging giant in $8.4B deal
Amcor, the acquirer, said the deal “brings together two highly complementary businesses to create a global leader in consumer packaging solutions.” Berry is one of the state’s largest public companies.
Regulators open 2 investigations into Ford over slow recalls
The largest of the probes covers about 457,000 Ford Bronco Sport SUVs and Maverick small pickups.
UPDATE: Explosion at Louisville business kills two employees, injures 11
The explosion occurred Tuesday afternoon at Givaudan Sense Colour, which produces colorings for food and drinks.
Engines on 1.4M Honda vehicles might fail, so regulators open investigation
The agency said in documents posted on its website Monday that connecting rod bearings on vehicles with 3.5-liter V6 engines can fail, leading to complete engine failure.
Boeing factory strike ends as workers vote to accept contract
According to the International Association of Machinists and Aerospace Workers, the 33,000 workers it represents can return to work as soon as Wednesday or as late as Nov. 12.
Fred Cartwright to retire as head of Conexus Indiana
Conexus credited Cartwright with expanding its partnership with the Indiana Economic Development Corp. through the Manufacturing Readiness Grants.
Troubled carmaker Stellantis reports 27% plunge in 3Q revenue as it cleans up inventories
Shipments dropped by 20%, to 1.2 million vehicles, in third quarter. The company is in the process of 20 new product launches globally this year.
Vinyl thrives as the nation’s oldest record maker plays familiar tune
In 2023, U.S. revenue from vinyl records grew 10%, to $1.4 billion, the 17th straight year of growth, according to the Recording Industry Association of America.
Allison Transmission investing $100M-plus to expand production in India
Indianapolis-based Allison Transmission plans to add 200,000 square feet to its manufacturing facility in Chennai, India, the company announced Thursday, doubling its manufacturing footprint at the site.
Boeing factory workers vote to reject contract and continue 6-week strike
Boeing lost $6.17 billion in its latest quarter. The company hasn’t had a profitable year since 2018, and Wednesday’s numbers represented the second-worst quarter in the manufacturer’s history.
Lower-priced new cars are gaining popularity, and not just for cash-poor buyers
Across the industry, auto analysts say, an “affordability shift” is taking root. The trend is being led by people who feel they can no longer afford a new vehicle that would cost them roughly today’s average selling price.
Indianapolis-based Deflecto acquired for $103.7 million
Indianapolis-based Deflecto, which describes itself as the world’s leading maker of chair mats, bicycle reflectors and dryer venting supplies, has been acquired by New York City-based Acacia Research Corp.
Stellantis CEO says carmaker on pace to fix sales problems after poor performance this year
CEO Carlos Tavares said the company is in a “Darwinian period,” and nothing is off the table including plant closures or shutting down brands.