Massachusetts-based Free Flow Power Corp. has announced a $12 million plan to build a hydroelectric generating station in Lawrence County. The project is expected to create more than two dozen construction jobs and be operational in 2016. The facility will be located at Williams Dam on the White River near Bedford, which was used to produce power into the 1950s, and could power an estimated 2,500 homes. Free Flow Power Vice President of Project Management Tom Feldman says the location is "very attractive."
Regulators Shut Down Terre Haute Bus Company
A division of the U.S. Department of Transportation says Terre Haute-based Rotel North American Tours LLC has been shut down for violations that pose "an imminent hazard to the public." Federal Motor Carrier Safety Administration records show the bus company had five incidents over the last 24 months where buses were taken out of service for failing unannounced inspections.
Cummins Promotes Executive
Columbus-based Cummins Inc. has named Stan Woszczynski Vice President-Chief Manufacturing Officer. He has been with the company since 1988 and most recently served as Vice President-Supply Chain and Manufacturing.
Indy Eleven Scores TV Deal
Indianapolis' new professional soccer team has inked a television deal for its inaugural season. Indy Eleven Professional Soccer says MyINDY-TV in Indianapolis will broadcast all home and some road games.
Vera Bradley Profit Slips
Fort Wayne-based Vera Bradley Inc. is reporting fiscal third quarter net income of $15.2 million, compared to $17.7 million during the same period the previous year. Chief Executive Officer Robert Wallstron says a "persistently challenging retail environment" is leading the company to lower its fourth quarter outlook.
Carmel Chamber Honors Businesses
The Carmel Chamber of Commerce has named NextGear Capital and Salsbery Brothers Landscaping businesses of the year. The honors were among several awards given out during yesterday's annual chamber awards luncheon.
Stonegate Mortgage Completes Acquisition
Indianapolis-based Stonegate Mortgage Corp. says a deal for a Texas-based company's wholesale lending channel is complete. As part of the acquisition, more than 200 Nationstar Mortgage Holdings Inc. employees join Stonegate.
Business Organization Names VP
Greater Fort Wayne Inc. has named John Urbahns executive vice president of economic development. He previously served as Director of Community Development for the city of Fort Wayne.
Hoosier Company Lands Military Fuel Deal
Calumet Shreveport Fuels LLC in Indianapolis has secured a nearly $190 million contract. The unit of Calumet Specialty Products Partners LP will provide aviation turbine fuel.
CTS Corp. Announces Executives
Elkhart-based CTS Corp. has named Robert Patton vice president, general counsel and secretary. Last month, the electronic components manufacturer also announced two vice presidents who will serve additional roles as chief financial officer and general manager.
Lutheran Health Makes Executive Appointments
Lutheran Health Network in Fort Wayne has named Jeff Vice chief operating officer of St. Joseph Hospital and Vikash Negandhi COO of its RediMed locations. The network has also filled two regional COO positions.
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