Local specialty chemicals firm lands $4.6M in funding round
MITO Material Solutions Inc. said it will use the investment to expand its Indianapolis operations, including new lab space for developing products and new composite material technologies.
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Raytheon’s Indianapolis unit operating under new name after acquisition
Raytheon’s Indianapolis site is now operating under the Vertex name following a recent acquisition by Madison, Mississippi-based Vertex Aerospace, but that name is expected to change again in the months to come thanks to another acquisition.
Ford splitting electric vehicle, traditional operations into two individual businesses
Ford plans a major restructuring with two distinct but strategically interdependent auto businesses–Ford Blue focusing on traditional combustion engines and Ford Model e, which will develop electric vehicles.
Fehsenfeld to retire as part of leadership shuffle at Calumet Specialty
Calumet Specialty Products Partners LP on Thursday announced a leadership team shakeup that will give the Indianapolis-based company a new CEO, chairman of the board and chief financial officer.
Cathedral grad hopes to change diaper game with self-cleaning table
Also a DePauw alum, Indiana native Brittany Hizer has co-founded a startup that makes a product that will make perfect sense to any new parent.
Indiana steel mill agrees to pay $3M, improve waste system
The agreement comes more than two years after a discharge of ammonia and toxic chemicals killed thousands of fish and closed Lake Michigan beaches, the federal government said Monday.
Cummins to acquire brake manufacturer for $325M
Cummins announced Wednesday that it’s signed an agreement to purchase Connecticut-based Jacobs Vehicle Systems from its current owner for $325 million. The deal is expected to close later this year.
Park outside: Hyundai, Kia recall vehicles due to fire risk
Hyundai and Kia are telling the owners of nearly 485,000 vehicles in the United States to park them outdoors because they can catch fire even if the engines have been turned off.
U.S., Japan reach deal to make most steel imports tax-free
U.S. Trade Representative Katherine Tai said the agreement with Japan, along with a separate deal last year on steel with the European Union, will put them in a better place to compete against China, the world’s second largest economy.
Ram trucks recalled to tighten loose windshield wiper nuts
The recall covers certain Ram 2500 and 3500 pickups and some 3500, 4500 and 5500 chassis cabs, all from the 2019 and 2020 model years.
Nucor plans $290M expansion of Crawfordsville steel plant
The North Carolina-based firm expects to add 80 jobs at the plant along with its new production line.
U.S. manufacturing growth slows for third straight month
The latest numbers suggest the recent wave of infections due to the omicron variant may have hampered plant operations.
United States warns that chip shortage could shut down factories
U.S. companies that use semiconductors are down to less than five days of inventory—a sharp drop from 40 days in 2019. The chips used in the production of automobiles and medical devices are especially scarce.
GM to spend nearly $7B on EV, battery plants in Michigan
The state’s economic development board on Tuesday approved $824 million in incentives and assistance for Detroit-based General Motors.
Pulmodyne Inc. acquired by British respiratory-device maker
Pulmodyne, with offices and factory at 2055 Executive Drive, near the Indianapolis International Airport, has been expanding in recent years to meet a skyrocketing number of orders from the COVID-19 pandemic.
Sony laying off 100 in Indiana, moving disc work to Austria
The Terre Haute plant was the first manufacturer of compact discs in the U.S., beginning production in September 1984 with Bruce Springsteen’s “Born in the U.S.A” album.
Vinyl record plants struggle to keep up with resurgent demand
Although online streaming accounts for most music-industry revenue, vinyl pressing plants can’t keep up with the renewed desire for records—the format considered obsolete after the rise of compact discs in the late 1980s.
American Resources partners with Heritage Group venture arm
Fishers-based American Resources Corp. said the effort will put the partners on the path to becoming the first and lowest-cost producer of domestically-sourced, purified and sustainable battery and magnet metals.
Industrial output falls 0.1% unexpectedly amid supply issues
Manufacturing output fell by 0.3%, with output at auto plants down 1.3%. Automakers have been hurt by supply chain problems, especially shortages of crucial computer chips.
New auto sales up in 2021, but long way before full recovery
Although there are plenty of customers who want to buy new vehicles at hefty prices, there still aren’t enough computer chips available for the industry to fully crank up its factories.