Cummins completes $3.7B Meritor acquisition

Columbus-based Cummins Inc. (NYSE: CMI) on Wednesday announced the completion of its $3.7 billion acquisition of Meritor Inc. in Michigan. Meritor is a supplier of drivetrain, mobility, braking, aftermarket and electric powertrain products for the commercial vehicle and industrial markets.... Read More

Decatur slaughterhouse clears key hurdle

The Decatur City Council has removed a roadblock for a planned $25 million slaughterhouse that will be located inside a former ice cream manufacturing plant in the Adams County city and create about 200 jobs. ... Read More

Rolls-Royce lands $854M military contract

Rolls-Royce Corp. in Indianapolis has been awarded a $854 million contract from the U.S. Department of Defense. The contract calls for depot-level engine repair services for the turboprop engines on the C/KC-130 aircraft in support of the U.S. Marine Corps and the government of Kuwait.... Read More

Cummins posts Q2 profit

Columbus-based Cummins Inc. (NYSE: CMI) is reporting second quarter net income of $702 million, compared to $600 million during the same period last year. Chief Executive Officer Jennifer Rumsey says demand for the company's products remained strong across most of its key markets and regions, apart from China.... Read More

LCI Industries reports second quarter profit

Elkhart-based LCI Industries (NYSE: LCII) is reporting second quarter net income of $154.5 million, compared to $67.9 million during the same period last year. Chief Executive Officer Jason Lippert says despite a challenging operating environment, the RV components manufacturer continued to deliver strong results.... Read More

Kokomo plant part of $99M investment from Stellantis

Global auto giant Stellantis (NYSE: STLA) announced Monday it will invest a total of $99 million in three of its North American plants, including the Kokomo Casting Plant. The company says the investment will fuel production of a new, four-cylinder turbocharged engine that will power two future hybrid electric vehicles.... Read More

U.S. Steel announces record profit-sharing bonuses

Steelworkers in northwest Indiana are getting more good news. Pittsburgh-based U.S. Steel (NYSE: X) says its employees, including those at the Gary Works plant and Midwest Plant in Portage, will take home bonus checks of up to $14,000 based on the company's record $1.1 billion in second-quarter earnings, according to our partners at The Times of Northwest Indiana. ... Read More

Patrick Industries reports second quarter profit

Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) is reporting second quarter net income of $117 million, up 98% from $59 million during the same period last year. President Jeff Rodino says the company benefitted from its capital expenditures, which totaled more than $100 million over the last 18 months.... Read More

Rumsey: ‘Destination Zero’ key to Cummins’ growth

In one week, Jennifer Rumsey will become just the seventh chief executive officer at Columbus-based Cummins and the first woman to the lead the company. Rumsey views embracing the environment and challenges related to global warming will be important growth opportunities. ... Read More

Keystone RV to close two Goshen facilities

Goshen-based Keystone RV Co. is planning to close two of its production facilities in the Elkhart County city. In a notice to the state, the recreational vehicle manufacturer says more than 330 employees will be affected by the move.... Read More

Penske Logistics details Shelbyville warehouse transition

Pennsylvania-based Penske Logistics LLC says a change in operation of a Kroger warehouse facility in Shelbyville will affect more than 500 employees. In a notice to the state, the company says Kroger, which owns the building, will take over operation of the facility in September.... Read More

Fort Wayne metal recycler forms strategic partnership

Fort Wayne-based recycling company Sortera Alloys Inc. is forming a strategic partnership with Novelis Inc. Novelis, which is a sustainable aluminum solutions provider based in Atlanta, says the partnership will allow it to utilize Sortera's sorting technologies, including data analytics and sensors.... Read More

Steel Dynamics to build new aluminum mill

Fort Wayne-based Steel Dynamics Inc. (Nasdaq: STLD) plans to invest $2.2 billion to build a recycled aluminum flat rolled mill, as well as two supporting satellite recycled aluminum slab centers, the company announced Monday. The steelmaker says when fully operational, the facility will have the capacity to produce 650,000 tons of finished products annually.... Read More

Wabash debuts rebranded trailer

Lafayette-based trailer maker Wabash (NYSE: WNC) has revealed its first rebranded trailer with the company’s new logo. The company says the updated trailer follows its previously-announced corporate rebranding effort earlier this year.... Read More