A subsidiary of Italy-based Stevanato Group (NYSE: STVN) has entered into an agreement with the Biomedical Advanced Research and Development Authority that will expand its planned manufacturing capacity in Fishers. The company says the deal, valued at up to $95 million, will produce vials to be used for current and future vaccine needs.... Read More
Noblesville-based IDI Composites International plans to invest more than $24 million to build a new manufacturing facility in the Washington Business Park. The move is part of an agreement with the city that it says will help keep the Reimagine Pleasant Street project on schedule, while ensuring IDI remains in Noblesville.... Read More
Elkhart-based Thor Industries Inc. (NYSE: THO) is reporting fiscal second quarter net income of $267 million, compared to $133 million during the same period a year ago. Chief Executive Officer Bob Martin says the company's performance was extremely strong, despite supply chain challenges.... Read More
The Governor's Workforce Cabinet and Conexus Indiana have launched a $500,000 grant program designed to prepare students for careers in advanced manufacturing. The Education Readiness Grants will be awarded to eligible high schools statewide to purchase new smart manufacturing technologies and equipment to help students develop Industry 4.0 skills.... Read More
Elkhart-based Truck Accessories Group LLC has rebranded to LEER Group. The company, which manufactures components for the automotive aftermarket, says the name change better reflects its collection of companies and the strength of its brands.... Read More
A welding supplies and gases company in Indianapolis is growing its footprint. Sutton-Garten Co. says it has invested more than $2 million to expand its dry ice production with a new plant on the city's near east side and add a small number of jobs.... Read More
Los Angeles-based private investment firm Angeles Equity Partners LLC has acquired Mid-State Engineering LLC in Tipton and RōBEX LLC in Ohio. While financial terms of the deal were not disclosed, Angeles says the combination will create an industrial automation integration platform that will support material handling consolidation.... Read More
Indianapolis-based Energy Systems Network has launched what it calls a first-of-its-kind statewide program in partnership with the Emerging Manufacturing Collaboration Center in Indy. Energy INsights aims to help Hoosier manufacturers use artificial intelligence and data science to reduce energy costs and improve sustainability.... Read More
A manufacturer of lithium-ion batteries originally based in Phoenix is relocating operations to the Indianapolis. EnPower Inc. is moving into a facility previously operated by EnerDel Inc. on the city's northeast side and plans to add more than 100 jobs by the end of the year. Chief Executive Officer Annette Finsterbusch says the move is part of an effort to bring more battery production to the United States.... Read More
Pittsburgh-based U.S. Steel Corp. (NYSE: X) is planning to invest $60 million into its Gary Works mill. The steelmaker says the investment will allow for the production of up to 500,000 tons of pig iron annually.... Read More
Thousands of steelworkers are taking home thousands of dollars in bonuses from Pittsburgh-based U.S. Steel (NYSE: X) and Ohio-based Cleveland-Cliffs Inc. (NYSE: CLF). Our partners at The Times of Northwest Indiana report bonuses saw a major uptick at steel mills amid record profits.... Read More
An Elkhart-based foam manufacturer is expanding operations into Allen County. Vahala Foam Inc., which provides polyurethane cushion foam for RV, marine, bedding and office products, says it will invest nearly $7 million in its new location in Fort Wayne and create up to 125 jobs by the end of 2024.... Read More
Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) says it will acquire Rockford Corp., a designer and distributor of audio systems and components for the powersports, marine and automotive markets, headquartered in Arizona. Financial terms of the deal were not disclosed.... Read More
A Morgan County design company is moving its operations to Indianapolis. Mooresville-based Creative Works, which designs, manufactures and installs themes, props and attractions for the amusement industry, says it will relocate to the Park Fletcher industrial complex on the city's southwest side in May, bringing with it more than 70 jobs and creating up to 30 more by the end of the year. The move comes as the company prepares to celebrate its 25th anniversary this year.... Read More
A $100,000 grant from the U.S. Economic Development Administration is being used to implement an initiative designed to boost economic opportunities for Indiana farmers. ... Read More
A Huntington-based manufacturer of conveyor systems and material handling equipment has broken ground on a nearly $5 million expansion. Shuttleworth says the project will add 55,000 square feet of manufacturing space and create 20 jobs by the end of 2024.... Read More
Columbus-based Cummins Inc. (NYSE: CMI) says it has entered into an agreement to acquire Meritor Inc. (NYSE: MTOR) in Michigan in a deal valued at $3.7 billion. Meritor is a supplier of drivetrain, mobility, braking, aftermarket and electric powertrain products for the commercial vehicle and industrial markets. Cummins CEO Tom Linebarger calls the acquisition an important milestone for the company as it works to develop more zero carbon products.... Read More
Ohio-based Cleveland-Cliffs Inc. (NYSE: CLF) is planning to indefinitely idle one of the two remaining blast furnaces at its Indiana Harbor Works steel mill in East Chicago. Despite the move, the steelmaker says no Hoosier jobs will be affected.... Read More
Indianapolis-based Direct Connect Logistix has acquired another third-party logistics provider headquartered in Utah. Financial terms of the deal for Performance Logistics LLC are not being disclosed, though DCL says it plans to expand the workforce at the Utah location.... Read More
New Albany-based Cimtech has announced plans to grow its southern Indiana operations. The precision manufacturer says it will invest $2.3 million over the next 10 years to add nearly 14,000 square feet of space and a small number of jobs.... Read More
