Indy-based Vertellus acquires chemical maker in U.K.
The addition of Pentagon Chemicals UK Ltd. could add at least $75 million in revenue to the top line of Vertellus Speciaties Inc., one of the largest private firms in Indianapolis.
Manufacturing
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Cummins nears finish of new Indiana warehouse
The company plans to consolidate 80 employees from distribution sites in Seymour, Jonesville and Greenwood at the new $15 million warehouse and distribution center.
Pace of U.S. factory activity shows October improvement
The Institute for Supply Management, a trade group of purchasing managers, reported Monday that its manufacturing index rose to 59 last month, from 56.6 in September. Any reading above 50 signals expansion.
Report: Herff Jones set to be sold for $1.5 billion
Class ring maker Herff Jones is set to be acquired by a private-equity group for about $1.5 billion, Reuters reported, citing people familiar with the deal.
Remy suffers quarterly loss despite improving sales
Pendleton-based manufacturer Remy International Inc. saw a big bump in sales in its latest quarter but took a sizable loss after paying part of a legal settlement and dealing with costs associated with its recent acquisition of USA Industries.
Upstart local casket company about to go under
Genesis Casket Co., a locally based manufacturer that appeared to be on the fast track just a few years ago, has notified the state that it plans to close its Indianapolis headquarters, ending employment for 56 workers.
Eli Lilly donates $12.7 million to United Way
The donation represents the giving of employees and retirees of Lilly and Elanco Animal Health in the U.S. and Puerto Rico, plus a matching contribution from the Lilly Foundation.
Cummins shares get spark from strong third quarter
The Columbus-based manufacturer of heavy-duty engines saw profit jump 19 percent on stronger sales in North America and abroad.
Allison exceeds expectations with quarterly report
The Indianapolis-based manufacturer had sales of $553 million in the quarter ended Sept. 30, a 19-percent increase over the same period of 2013. Profit rose to $68.8 million, up from $44.5 million.
Stant Corp. to remain based in eastern Indiana
Stant Corp. announced it will stay in Connersville, where it was founded in 1898. The company has nearly 300 employees at it corporate headquarters.
TripAdvisor is new powerhouse in hospitality industry
The travel website TripAdvisor has seen such an explosion of consumer-generated reviews and page views in the last two years that local hoteliers now monitor it continually.
Maker of class rings may fetch $1 billion
Herff Jones might be on the verge of a sale for as much as $1 billion. The 94-year-old maker of class rings and yearbooks, quietly renamed Varsity Brands Inc. in June, has hired the investment banking firm Jefferies to explore a sale, unidentified sources told Reuters.
There’s an app for booze delivery coming to Indy
Retailer Big Red Liquors is expected to announce a partnership Thurday with Boston-based mobile-software startup Drizly to offer alcohol delivery service to consumers in the area.
Two-week strike ends at Indiana factory
The strike at the Schneider Electric plant began Oct. 6 in a dispute between the French-based company and the International Association of Machinists and Aerospace Workers over raises and pensions.
Eli Lilly to sell Puerto Rico manufacturing facility
The Indianapolis company said it is closing its Guayama facility because the patents on some of the drugs made there have expired.
U.S. factory output on the rise again after August setback
The Federal Reserve said Thursday that factory production rose 0.5 percent in September after falling 0.5 percent in August. The continued pace of manufacturing output will likely be a bellwether for the broader economy.
Threat-detection tech firm plans to create 84 jobs
Lafayette-based Emerging Threats Pro LLC said it will invest $967,000 to open an outpost in the Parkwood Crossing office park in Carmel.
Closure of paper-converting facility to cost 55 jobs
A Montreal-based company plans to close its paper-converting facility in Indianapolis, putting 55 employees out of work, the company said Monday in a notice to the state.
Angie’s List plans big expansion with $25M in public help
The struggling consumer-review firm plans to spend some $40 million to expand its headquarters campus on the east side of downtown and create 1,000 jobs with the help of more than $25 million in state and city incentives.
RV company plans northern Indiana expansion
A company that makes towable recreational vehicles says it will spend nearly $5 million to expand its operations in northern Indiana, creating as many as 125 jobs.