U.S. factory gauge falls for fifth month to lowest since May 2020
The latest data—released Wednesday—underscores how a combination of rising interest rates, waning demand for merchandise, and economic uncertainty are weighing on factory activity.
Manufacturing
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Glass-wall manufacturer off to fast start after shifting site plans
A Chicago-based building-enclosure manufacturer that dropped plans to construct a $9.3 million plant in northwest Indiana has instead taken up shop in Indianapolis and already hired 70 workers.
Made in Indiana: 1966 Batmobile replicas
Logansport-based Fiberglass Freaks specializes in building detailed replicas of the 1966 Batmobile, complete with a Batphone. The cars sell for $299,999.
Bastian Solutions to build $130M corporate HQ, manufacturing campus in Noblesville
The company plans to create 250 new jobs over the next five years in Noblesville and retain and relocate 400 employees to the 580,000-square-foot complex.
Justice Department investigating Abbott baby formula plant
The factory’s closure in February 2022 was a key cause of a nationwide baby formula shortage that forced parents to seek formula from food banks, friends and doctor’s offices.
Report: Massive EV battery plant in Indiana on hold
The Wall Street Journal first reported Friday that General Motors Co. and Korea-based LG Energy Solution failed to come to an agreement on building a fourth plant through their Ultium Cells joint venture.
Boone County residents file legal challenge over LEAP annexation
The residents say the city of Lebanon failed to follow state zoning law when it annexed 5,200 acres of land for the planned LEAP district in Boone County.
U.S. official warns of risks posed by heavy electric vehicles
The extra weight that EVs typically carry stems from the outsize mass of their batteries. To achieve 300 or more miles of range per charge from an EV, batteries have to weigh thousands of pounds.
Stellantis CEO says cost cuts necessary due to higher EV prices
Without cost reductions, EVs will be too expensive for the middle class, shrinking the market and driving costs up more, CEO Carlos Tavares told reporters Thursday at the CES gadget show in Las Vegas.
U.S. auto sales fell 8% last year amid supply-chain woes, high prices
Shortages of computer chips and other parts continued to hobble the U.S. auto industry last year, contributing to vehicle sales dropping to their lowest level in more than a decade.
U.S. manufacturing contracts for a second month, helping ease prices
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.
Rocky ride: Tesla stock on pace for worst year ever
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 metal fabricator sold to Pennsylvania company
Indianapolis-based Mi-Tech Tungsten Metals LLC has been acquired by Towanda, Pennsylvania-based Global Tungsten & Powders Corp.
INDOT releases potential options for I-65 interchange to serve LEAP district
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.
Hillenbrand agrees to sell storied Batesville Casket Co. for $761M
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.
United places huge order with Boeing to replace aging planes
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.
Lebanon votes to annex 5,225 acres for LEAP district
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.
Hoosier manufacturers ramping up adoption of advanced technologies, report shows
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.
As supply chains unclog, consumers enjoy (tentative) relief
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.
Noblesville City Council approves incentives for $30M SMC expansion plan
SMC Corp. of America plans to expand its total workforce in Noblesville to 1,157 by 2032.