Other companies are interested in bidding for at least pieces of Hostess because of the high brand recognition and $2.5 billion in annual revenue. Twinkies alone have brought in $68 million in revenue so far this year.
Members of United Auto Workers Local 933 must vote in favor of the five-year collective bargaining agreements before they would go into effect.
Hostess Brands Inc. said Friday it will close all of its plants, leading to the loss of hundreds of jobs in Indiana and thousands more nationwide. The company employs 288 in Indianapolis.
Hostess Brands said it likely won't make an announcement until Friday morning on whether it will move to liquidate its business, after the company had set a Thursday deadline for striking employees to return to work.
The commercial transmission maker's existing contracts, which were set to expire at 11:59 p.m. Wednesday, will remain in force until noon Nov. 21.
The maker of Wonder bread and Twinkies said it doesn’t have the financial resources to survive the ongoing strike by the bakers’ union.
Troy, Mich.-based Meritor Inc., a global supplier of commercial truck parts, said it will consolidate North American remanufacturing operations by moving production from Ontario, Canada, to its facility in Hendricks County.
The maker of Wonder bread and Twinkies said it is permanently closing plants in Cincinnati, Seattle and St. Louis. The company has about 875 workers in Indiana, about half of them members of the striking bakers' union.
Members of United Auto Workers Local 933, which represents roughly 1,500 hourly workers, could declare a strike if negotiators do not reach an agreement with Allison Transmission by a Wednesday deadline.
A Hostess spokesman said the company is debating whether it will close its Indiana plants after workers went on strike on Friday. Hostess employs about 875 workers in Indiana, including 288 in Indianapolis.
Indianapolis-based Indigo Biosystems Inc., a scientific software provider, announced Monday morning that it plans to add 63 jobs by 2015 as part of a $1.4 million expansion.
Marketing e-mail marketer ExactTarget Inc. suffered a dramatically lower third-quarter loss than a year ago on record-high revenue, the company announced Thursday afternoon.
Universities that once focused on faculty inventions now are encouraging students to pursue patents. Last year, 355 Purdue University students filed a patent, a 62-percent jump from 218 student-filed patents the previous year.
Better profitability in crude-oil refining has prodded Calumet Specialty Products Partners LP into a $1 billion flurry of acquisitions over the past year.
Smithville Telephone, headquartered in Ellettsville, near Bloomington, is the state’s largest independently owned phone company. Its Smithville Digital division, which provides fiber-optic communications to businesses, hospitals and schools in 17 Indiana counties, mostly in the south, has quietly been growing on the periphery of Indianapolis.
If a biotech startup were akin to a rock band, Kristin Sherman might be the keyboardist. She’s not front-and-center on the stage, but the ballad wouldn’t be as dynamic without her pounding the chords.
Plainfield-based company provides its soaps and shampoos to world’s most prestigious hotels.
The decision will affect two dealerships in the Indianapolis area: Bob Rohrman’s Indy Suzuki and Used Car Superstore and the Ray Skillman Westside Auto Mall, both of which sell new Suzuki vehicles.
Glass fabricator FacadeTek Inc. has notified state officials that it will eliminate 72 jobs at its Whitestown facility in January.
Decatur, Ill.-based ADM Milling Co. is seeking tax incentives related to its plans to construct a six-story building to increase its milling capacity. The expansion will help it retain 53 workers.
