Calumet Specialty Products posts annual loss for 7th straight year
The Indianapolis-based company, which makes specialty petroleum products, last posted an annual profit in 2013. Calumet’s cumulative annual losses since then total $931.7 million.
Manufacturing
Articles
Walmart to invest $350 billion in U.S. manufacturing
The world’s largest retailer said it plans to invest $350 billion in products made, grown or assembled in the United States over the next 10 years, a move it says will help create 750,000 jobs.
U.S. manufacturing activity jumps to three-year high
The Institute for Supply Management reported Monday that its gauge of manufacturing activity rose to a reading of 60.8% last month, 2.1 percentage-points above the January level of 58.7%.
U.S. safety agency investigating engine fires in top-selling Toyota SUV
A Toyota spokesman would not answer questions about whether the SUVs should be parked outdoors until the matter is resolved, but said the company is cooperating in the probe.
Biden to order a review of U.S. supply chains for vital goods
The executive order will cover U.S. supply chains for large-capacity batteries, pharmaceuticals, critical minerals and semiconductors that power cars, phones, military equipment and other goods.
Allison Transmission expects revenue, profit to rebound this year
Allison Transmission’s fourth-quarter financial performance exceeded analysts’ revenue expectations but fell short of profitability forecasts.
Indiana factories losing ground as Biden readies manufacturing push
Productivity in Indiana’s most advanced industries—including agricultural chemicals, medical equipment and adhesives production—has lagged behind the national average for the past 10 years and the gap is widening, according to a new Brookings Institution study.
Bombardier to end Learjet production, cut 1,600 jobs
Canada’s Bombardier announced Thursday that it will stop production of the Learjet later this year to focus on more profitable planes. The iconic jet was among the first private luxury planes.
Autoworkers will face uncertain future in era of electric cars
For workers at GM and other automakers, the future could be perilous. The more environmentally focused plants of the future will need significantly fewer workers, mainly because electric vehicles contain 30% to 40% fewer moving parts than petroleum-run vehicles.
Executive promotions give Cummins vice chairman, new president and COO
Tony Satterthwaite, president and COO since October 2019, will move into the new position of vice chairman, while Jennifer Rumsey, president of the company’s Components business, will succeed Satterthwaite as president and COO.
Cummins saw stiff drop in sales, profit in 2020, but exceeded market expectations
The Indiana-based manufacturer said sales in North America declined 21% last year, but its sales in China reached record levels, up 25% from the previous year.
Carmel distiller turns hand sanitizer pivot into a community fundraising platform
Eric Stam, co-founder and CEO of the Carmel-based Crossroads Distillery, started diversifying his alcohol production facility’s operations in April to launch a cleaning solution fundraising business earlier this week.
U.S. factories showed growth in January, but at slower pace
The Institute for Supply Management’s survey of businesses showed that 16 of 18 manufacturing industries showed growth in January. The contracting industries were printing and petroleum.
Steel door manufacturer to open Indianapolis plant
De La Fontaine Industries announced Wednesday that it plans to open a plant in Indianapolis that will employ up to 20 workers by the end of 2023.
U.S. manufacturing activity ended 2020 on a strong note
The ISM manufacturing index stood at 60.7 in December, up from 57.5 in November and 47.8 in December 2019. A number above 50 indicates growth in the manufacturing sector, while a number below 50 indicates contraction.
Purdue to launch smart manufacturing degree
Purdue University is partnering with numerous industry and government partners to develop what the university says will be the first-of-its-kind “smart manufacturing” undergraduate degree program.
Hillenbrand sells Red Valve, Abel
As part of an effort to become more streamlined and reduce its debt, Batesville-based Hillenbrand Inc. is in the midst of multiple divestitures.
U.S. industrial production jumps 1.6%
U.S. industry operated at 74.5% of capacity in December, still below the pre-pandemic rate of 76.9% in February.
GM charges up new unit to sell electric delivery vans, gear
The first product for the new venture called BrightDrop will be an electric-powered wheeled pallet that will take goods from the warehouse to trucks and from trucks to destinations. Then GM will roll out a clean electric delivery van.
Local manufacturer Hurco suffers first full-year loss since 2010
CEO Michael Doar said the company was encouraged by “growing demand we saw in certain markets in the second half of the fiscal year, particularly in Europe and Asia.”