Local maker of organic oils rakes in $9.5M in venture funding
The round of financing was led by Indianapolis-based HG Ventures, which is the corporate venture arm of a major shareholder in Biosynthetic Technologies.
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Cummins possible suitor for VW peripheral unit valued at $3.4B
Volkswagen AG is renewing efforts to sell minority stakes in non-core operations to streamline its business and focus on the main passenger-car brands, according to people familiar with the matter.
Diamond Chain to retain its name following $84M acquisition
Ohio-based Timken purchased Diamond Chain last month. The Indianapolis-based company makes high-performance roller chains for equipment used in a variety of industries.
Ram truck sales to roll on as key supplier Cummins probes emissions
Indiana-based Cummins will check certification and compliance processes for engines in the 2019 Ram 2500 and 3500 trucks after conversations with the U.S. Environmental Protection Agency and the California Air Resources Board, the company said.
Ford faces U.S. criminal investigation of emissions testing
Ford confessed in February to having taken a flawed approach to using road-load specifications to simulate how aerodynamic drag and tire friction can affect the fuel economy of its vehicles outside testing labs.
Tesla suffers surprisingly large quarterly loss as sales slump 31%
The loss was more than double what analysts had predicted as Tesla lost $702.1 million in the quarter.
Ford to invest $500M in electric vehicle startup Rivian
Ford is sinking a half-billion dollars into electric vehicle startup Rivian in a deal that has the companies working together on a new Ford electric vehicle based on Rivian underpinnings.
U.S. expands probe into air bag failures to 12.3M vehicles
Vehicles made by Toyota, Honda, Kia, Hyundai, Mitsubishi and Fiat Chrysler from the 2010 through 2019 model years are included in the probe, which was revealed Tuesday in documents posted by the National Highway Traffic Safety Administration.
Packaging maker plans $75M facility, 140 jobs in Lebanon
The Lebanon City Council Monday night approved a tax break valued at $1.3 million for U.S. Corrugated Inc., which plans to open a 470,000-square-foot manufacturing facility.
Allison Transmission announces $132 million in acquisitions
The Indianapolis-based company announced Tuesday that it has acquired England-based Vantage Power and the electric vehicle systems division of Michigan-based AxleTech International in two separate deals.
Fruit-flavoring firm to open $11M plant in Greenwood
California Custom Fruits, whose products include fruit bases for yogurts, will erect a 65,000-square-foot plant in the Greenwood Park at 65 South industrial park.
Sheet-metal firm planning $4.2M expansion, 40 hires for new unit
Greenwood-based Poynter Sheet Metal Inc. and its landlord have applied for partial property tax abatements on the project that would save them a total of $595,000 over 10 years.
Recycling company plans $260M plastics-to-fuel plant in Indiana
The company said the operation will be the first of its kind in the United States and use plastics from curbside recycling pickup in Indiana and Illinois, and from manufacturing waste.
Local mattress maker to test retail with Circle Centre store
Foamcraft Inc. plans to open a pop-up store in Circle Centre under the Comfort Option name. The store is initially scheduled to be a one-month endeavor, but could be there much longer if things work out.
Splenda-maker Heartland adds products, continues rapid expansion
Heartland has expanded its local production facilities multiple times since 2015, adding hundreds of employees and rolling out several new products, including a brand of cold-brew coffee, Java House, that hit the market last year.
Cummins testing electric postal vehicles
The delivery vans have an all-electric range of up to 85 miles and can be fully charged in about eight hours.
Subaru building $4.2M training center in Lafayette
The facility will include a 7,000-square-foot simulated factory floor featuring training robots, assembly-line simulators, a car lift, a forklift and work space for interns.
UPDATE: Food manufacturer plans $310M plant, 460 jobs in Shelbyville
Illinois-based Greenleaf Foods, which makes burgers, hot dogs, sausages and other vegetarian meat alternatives, plans to build a 230,000-square-foot plant at Interstate 74 and State Road 44.
Safety technology driving up repair costs on newer cars
While the latest technology on cars helps prevent accidents, there is a potential side effect: much higher repair costs, even in seemingly minor accidents.
Allison Transmission seeking $2.7M tax break from city on $34.5M testing facility
Officials for the Indianapolis-based transmission giant tell city officials that the project would create 193 jobs that pay an average of $20.39 per hour, as well as help it retain current employees.