Peak Toolworks, a manufacturer of diamond and carbide cutting tools headquartered in Jasper, has acquired Elkhart-based Tooling Concepts Inc. Financial terms of the deal were not disclosed, though Peak says it plans to further invest in the Elkhart region.... Read More
Fort Wayne-based Steel Dynamics Inc. (Nasdaq: STLD) is looking to add 200 employees in northeast Indiana. The company says the additions will support ongoing growth in the region.... Read More
Elkhart-based LCI Industries (NYSE: LCII) is reporting record full-year net income of $288 million in 2021, up from $129 million the previous year. Chief Executive Officer Jason Lippert said, despite challenges involving labor, freight and supply chains, the company delivered record revenues of $4.5 billion in 2021.... Read More
The Ports of Indiana has a new cargo terminal operator for its Jeffersonville Port. Indiana Cargo Crossroads, a partnership between the Ports of Indiana and Superior River Terminals Indiana, will provide stevedoring and distribution services.... Read More
Columbus-based Cummins Inc. (NYSE: CMI) says it has agreed to purchase the remaining share of its joint venture with Westport Fuel Systems Inc. (Nasdaq: WPRT) in Canada. The joint venture, which ended on December 31, was created for the development of natural gas engines.... Read More
The global semiconductor shortage is forcing Ford's (NYSE: F) Chicago Assembly Plant to be idled this week. Our partners at The Times of Northwest Indiana report thousands of auto workers, including many from northwest Indiana, will be temporarily out of work, beginning today.... Read More
A Goshen-based manufacturer of modern stairs and railing has detailed plans for an inflation protection plan for employees. Viewrail says it will review inflation rates each quarter and increase wages to match inflation.... Read More
Tennessee-based Averitt Express Inc. has announced plans to lay off more than 60 employees in Evansville. The company says the move is due to its contract to provide truck driving, switchers and related services out of Shoe Carnival's (Nasdaq: SCVL) distribution center in Evansville not being renewed.... Read More
Columbus-based Cummins Inc. (NYSE: CMI) is reporting full-year net income of $2.1 billion in 2021, compared to $1.8 billion the previous year. Chief Executive Officer Tom Linebarger says strong economic recovery combined with high demand for the company's products resulted in record full year revenues last year.... Read More
Fort Wayne-based Dovetail Brands, an affiliate of Ambassador Enterprises, has acquired Grabill Cabinets in Allen County. While financial terms of the deal were not disclosed, Dovetail says former Grabill owners David Carnahan and Martin Heiny will continue in leadership roles.... Read More
he chief executive officer of the Ports of Indiana says the positive year-end report for the state's three ports is representative of Indiana's recovering economy. The port authority this week announced more than 11 million tons of cargo were handled at the port in 2021.... Read More
The Ports of Indiana says the state's three ports handled more than 11.2 million tons of cargo in 2021, which is a nearly 34% increase from the previous year. Additionally, the ports in Burns Harbor and Jeffersonville set new records for their highest annual shipment totals.... Read More
Fort Wayne-based investment management company SOLV Holdings says it has acquired a majority stake in another Fort Wayne company. Financial terms of the deal for advanced metal fabricator and contract manufacturer QuikCut Inc. were not disclosed.... Read More
The human resources manager for Dreyer's Grand Ice Cream says increased demand for the company's products led to the need for continued investment and expansion at its Fort Wayne facility. ... Read More
Dreyer's Grand Ice Cream is once again growing in northeast Indiana. The company says it is looking to hire an additional 100 employees at its Fort Wayne facility as it also plans to increase its starting hourly wage to at least $20 an hour.... Read More
Elkhart-based Thor Industries (NYSE: THO) has formed a partnership with TechNexus Venture Collaborative in Chicago. Thor says the partnership will identify and engage an "ecosystem of entrepreneurs" and startups that will connect with the RV manufacturer to help drive its initiatives.... Read More
Sony DADC is cutting about 100 workers at a western Indiana plant that began cranking out compact discs in the 1980s and will move all the plant's gaming and disc manufacturing to Austria.... Read More
Indianapolis-based Allison Transmission Inc. (NYSE: ALSN) has announced a $15 million investment in Autotech Ventures, a venture capital firm in Silicon Valley. Allison says the partnership will provide the company with direct exposure to startups, VC expertise and high-tech companies in the transportation industry.... Read More
Amazon (Nasdaq: AMZN) is adding to its footprint in Johnson County. The e-commerce giant is planning to open a 510,000-square-foot sorting center in Franklin later this year and create hundreds of jobs.... Read More
Carmel-based 3C Labs LLC is looking to grow its central Indiana operations. The cannabinoid research and manufacturing company plans to invest $1.5 million to expand its three offices in Carmel and Indianapolis and create 270 jobs by the end of 2023.... Read More
