Boeing factory strike ends as workers vote to accept contract
According to the International Association of Machinists and Aerospace Workers, the 33,000 workers it represents can return to work as soon as Wednesday or as late as Nov. 12.
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Fred Cartwright to retire as head of Conexus Indiana
Conexus credited Cartwright with expanding its partnership with the Indiana Economic Development Corp. through the Manufacturing Readiness Grants.
Troubled carmaker Stellantis reports 27% plunge in 3Q revenue as it cleans up inventories
Shipments dropped by 20%, to 1.2 million vehicles, in third quarter. The company is in the process of 20 new product launches globally this year.
Vinyl thrives as the nation’s oldest record maker plays familiar tune
In 2023, U.S. revenue from vinyl records grew 10%, to $1.4 billion, the 17th straight year of growth, according to the Recording Industry Association of America.
Allison Transmission investing $100M-plus to expand production in India
Indianapolis-based Allison Transmission plans to add 200,000 square feet to its manufacturing facility in Chennai, India, the company announced Thursday, doubling its manufacturing footprint at the site.
Swiss manufacturer Rego-Fix opens expanded facility in Whitestown
The 12,000-square-foot addition, named the Center for Machining Excellence, will partly serve as an incubator for other foreign companies that want to do business in Indiana.
Boeing factory workers vote to reject contract and continue 6-week strike
Boeing lost $6.17 billion in its latest quarter. The company hasn’t had a profitable year since 2018, and Wednesday’s numbers represented the second-worst quarter in the manufacturer’s history.
Lower-priced new cars are gaining popularity, and not just for cash-poor buyers
Across the industry, auto analysts say, an “affordability shift” is taking root. The trend is being led by people who feel they can no longer afford a new vehicle that would cost them roughly today’s average selling price.
Indianapolis-based Deflecto acquired for $103.7 million
Indianapolis-based Deflecto, which describes itself as the world’s leading maker of chair mats, bicycle reflectors and dryer venting supplies, has been acquired by New York City-based Acacia Research Corp.
Stellantis CEO says carmaker on pace to fix sales problems after poor performance this year
CEO Carlos Tavares said the company is in a “Darwinian period,” and nothing is off the table including plant closures or shutting down brands.
IBJ Podcast: What’s the potential impact of Lilly’s $4.5B ‘medicine foundry’ in Lebanon?
Lilly wants to know how to improve new medicines and speed them to market more quickly. The project promises hundreds of high-paying jobs and could help lift Lilly among a handful of the most valuable companies in America.
Stellantis, seeking to revive sales, makes some leadership changes
Stellantis announced a number of significant leadership changes on Thursday, including the timing of CEO Carlos Tavares’ retirement and the departure of its chief financial officer, as it struggles to revive sales in North America.
Stellantis CEO eyes management shakeup as pressure mounts
The Jeep and Dodge maker has been grappling with bloated inventories, high-profile departures and slumping sales in the U.S. after raising prices more than peers.
Brazilian company plans $400M plant in Lafayette
Sustainea and Primient said the plant would be the largest facility of its type in the United States.
Lilly to invest another $4.5B in Lebanon site for new ‘medicine foundry’
The new funding, for an advanced manufacturing and drug development center, will bring the Indianapolis-based drugmaker’s total investment in the Boone County site to more than $13 billion.
U.S. manufacturing activity contracts for sixth straight month
Thirteen industries reported contraction in September, led by printing, plastics and rubber, and wood products. Five sectors expanded.
Carmaker Stellantis slashes forecasts as it faces industry slump, Chinese competition
Stellantis said it was accelerating efforts to turn around North America, including bringing dealer inventory levels to no more than 300,000 vehicles by the end of the year, instead of the first quarter of 2025 as previously planned.
Indianapolis aviation companies plan significant expansions
Dabico A-Bridge LLC and its parent company, Dabico Airport Solutions LLC, plan to expand their Indianapolis facilities and add another 151 jobs by the end of next year.
Hillenbrand makes $55M real estate deal for two Ohio properties
The agreement calls for Hillenbrand Inc.’s Ohio-based subsidiary, Milacron LLC, to sell the two Ohio properties, then lease them back for about $5 million per year.
Lawsuit accuses Cummins of stealing trade secrets
California-based tech company C3.ai, which accuses Cummins of “brazen misappropriations of trade secrets and breach of contract,” said it plans to seek damages estimated at between $500 million and $1 billion.