U.S. defense contractor to build 4,000-worker advanced manufacturing facility in central Ohio
Republican Ohio Gov. Mike DeWine said it is the largest single job-creation and payroll project that Ohio has ever announced.
Manufacturing
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Indianapolis-based Loy Instrument acquired by Texas company
Loy Instrument was founded in 1937 and provides process control, combustion, and industrial services for a variety of industries.
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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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Articles
Cleveland-Cliffs CEO says he wants to buy U.S. Steel if Nippon deal fails
Comments by Cleveland-Cliffs chief executive Lourenco Goncalves came after the Biden administration over the weekend extended the deadline for Nippon to abandon its $14.9 billion bid for U.S. Steel to June.
Deadline extended on Nippon’s bid for U.S. Steel, offering hope that deal isn’t dead
The new deadline, now in mid-June, was viewed by U.S. Steel—and investors—as an opportunity for the companies to complete the acquisition.
Nippon, U.S. Steel file suit after Biden administration blocks $15B deal
The suit, filed Monday in the U.S. Court of Appeals for the District of Columbia, alleges that it was a political decision and violated the companies’ due process.
Companies signal court fight ahead after Biden blocks U.S. Steel sale
President Joe Biden’s decision to block Nippon Steel’s proposed purchase of U.S. Steel was a political act made in “clear violation of due process and the law,” the two companies said Friday
UPDATE: Biden blocks Nippon’s acquisition of U.S. Steel
Biden’s decision—attributed by other news organizations to unnamed sources—comes just days after Japan-based Nippon proposed giving the U.S. government a veto over any reduction in U.S. Steel’s “production capacity.”
Japanese buyer sends Biden new U.S. Steel proposal in final bid for support
In its new proposal, Nippon Steel offered a 10-year guarantee that it would not reduce production capacity at U.S. Steel’s mills in Pennsylvania, Indiana, Alabama, Texas, California and Arkansas without approval by the Treasury-led review panel.
Shareholder group calls for Vera Bradley to consider ‘strategic alternatives’
Fund 1 Investments LLC said Vera Bradley’s board should consider taking the handbag company private or a potential sale, among alternatives.
Gary’s Eddie Melton one of 20 mayors to sign letter of support for U.S. Steel acquisition
Earlier this month, the Japanese steelmaker said it would invest $1 billion in U.S. Steel’s Gary Works if the acquisition goes through.
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.
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.