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.
Manufacturing
Articles
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.”
U.S. factories grew in December at fastest pace since mid-2018
The U.S. economy collapsed from April through June but since that time manufacturing has posted solid gains, while the services sector, which includes restaurants, bars and the travel industry, has been harder hit.
U.S. plants hope to maintain production despite virus threat
Safeguards manufacturers put in place to try to protect workers have helped plants nearly keep up with last year’s production levels. But with the virus spiking in communities that surround the plants, industry and union officials say it may be impossible to keep the virus out of factories.
Carmel-based Delta Faucet to acquire New York-based maker of kitchen, bathroom fixtures
Like Delta, Kraus USA makes sinks, faucets and other accessories for kitchens and bathrooms. Delta also was attracted by Kraus’ strong online retail presence.
U.S. industrial production rises 0.4% with boost from auto sector
Production of motor vehicles and parts rose 5.3% in November, the biggest monthly increase since a 31% surge in July.
Indiana plant ramps up work on coolers for COVID-19 vaccines
Arizona-based Foam Fabricators has increased staffing by 20% at its New Albany plant to keep up with demand for the coolers that will be used for the vaccines developed by Pfizer and Moderna.
Longtime Carmel-based Allegion executive shifting to new role
Allegion executive Tim Eckersley, who has led the company’s Americas division since 2013, will shift to lead the company’s operations in other parts of the world.
U.S. trade policies likely to soften after Biden becomes president
The incoming administration is widely expected to embrace a more multinational approach to U.S. trade policy, moving away from the “America first” strategy embraced by President Trump.
Memory Bank: Building drums in Indianapolis in 1910
Leedy Manufacturing Co. in 1910 built a three-story building at the corner of Palmer Street and Barth Avenue, later expanding it to more than 51,000 square feet, to build drums.
COVID demand spurs wipe-maker to further expand huge Mooresville operation
Orangeburg, New York-based Nice-Pak said it will add 90 more jobs than originally planned and increase the size of a new facility to 1.2 million square feet. The $165 million project is slated to open in 2022.
Cummins investing in hydrogen power, although path to profitability uncertain
The Columbus-based manufacturer is bullish on hydrogen’s possibilities to power everything from buses, trains and trucks to industrial equipment.
Orders for manufactured goods show unexpected October gain
The strength in October came primarily from the volatile category of defense orders, with demand for military aircraft surging by 79.1%.
Cook Medical, not-for-profits joining forces on $15M medical device facility
Cook has partnered with Goodwill of Central & Southern Indiana and several other community organizations to build the manufacturing facility, which is expected to employ 100 employees on the northeast side of Indianapolis.
Industrial production up 1.1% in October, but still lagging
It was a rebound after a downturn in September, but production still remains below pre-pandemic levels, the Federal Reserve reported Tuesday.
Firm planning to close 100-worker auto parts factory
Eaton Corp. has notified state officials that it intends to begin layoffs at the Auburn factory in February.
Economist: Indiana might benefit as pandemic pushes people to flee big cities
Jeff Korzenik, chief investment strategist at Fifth Third Bank, said Thursday that homeowners and businesses have become more interested in locating in suburbs and mid-sized cities—a trend that could benefit the Indianapolis area.
U.S. manufacturing activity at highest level in two years
The Institute for Supply Management said Monday that its closely watched barometer of manufacturing health rose by 3.9 percentage-points, to a reading of 59.3% last month, up from 55.4% in September.
Klipsch sales boom sparks parent firm’s lifeless stock
Fueled by the strong performance of Klipsch and the company’s other premium audio lines—all of which are overseen from Indianapolis by longtime Klipsch CEO Paul Jacobs—Voxx shares have risen more than 200% this year.