The Institute for Supply Management’s gauge of factory activity fell to 48.4 last month, the lowest level since May 2020 and down from 49 in November, according to data released Wednesday.
The company’s results have been solid this year in terms of profit and revenue, but electric vehicle models from other automakers are starting to chip away at Tesla’s dominance of the U.S. EV market.
Indianapolis-based Mi-Tech Tungsten Metals LLC has been acquired by Towanda, Pennsylvania-based Global Tungsten & Powders Corp.
The Indiana Department of Transportation released a study that includes five possible locations for the interchange northwest of Lebanon near the planned site of the LEAP Lebanon Innovation and Research District.
The company announced the deal Thursday morning, a move that would result in the selling off of the business and brand that served as the roots for the larger Hillenbrand company in Batesville starting in 1884 and would grow to become the nation’s largest casket maker.
The massive order—United called it the biggest ever by a U.S. airline for twin-aisle or “widebody” planes—is a bold move for an airline that lost money throughout the pandemic until the middle of this year.
The Lebanon City Council voted unanimously to approve the second phase of voluntary annexation for the LEAP district, a planned 11,000-acre advanced manufacturing park in Boone County.
More than half of Indiana manufacturers have implemented or are testing at least one advanced technology, according to a new report from Conexus Indiana and the Indiana University Kelley School of Business at IUPUI.
The main factor behind the improvement has been diminished demand for manufactured goods. Spending on goods has fallen for three straight quarters, according to the Commerce Department.
SMC Corp. of America plans to expand its total workforce in Noblesville to 1,157 by 2032.
SMC Corp. of America, Noblesville’s largest private employer, said the new jobs would pay at least $59,000 annually.
A private-equity investment announced in January is driving growth at Modular Devices Acquisition LLC, which manufactures and leases mobile and modular medical labs and cleanrooms.
The reform candidates campaigned on taking a more confrontational stance in bargaining with Detroit’s three automakers. The adversarial stance is likely to raise costs for General Motors, Ford and Stellantis, which almost certainly would be passed on to consumers.
Purdue said the company has committed to provide funding to establish the Accenture Smart Factory on the West Lafayette campus as well as the Accenture Smart Manufacturing Scholars Program.
The Ohio-based venture firm, which gets its funding from Indiana and Ohio companies, invests in tech startups developing products that can benefit those Midwestern investors.
Cummins said its profitability was affected by several expenses last quarter, the largest of which was the $56 million that the company spent on a one-time bonus to employees.
Ten manufacturing industries reported a contraction in October, led by furniture, wood products, paper products and textiles. Eight industries expanded.
Environmental groups say advanced recycling is a distraction from real solutions like using less plastic. They suspect the idea of recyclable plastics will enable the steep ramp up in plastic production to continue.
A total of 20 companies will receive grants for projects to extract and process lithium, graphite and other battery materials, manufacture components and strengthen U.S. supply of critical minerals, officials said.
The company has recently begun testing its first products with customers and is working to ramp up production in coming months.
