More than 90 employees at a Hammond rail components plant will be let go by the end of the year. In a notice to the state, Chicago-based Amsted Rail Co. Inc. cites a "dramatic downturn in business" as the reason for the move.
Munster Firing Up Gas-to-Energy Project
A northwest Indiana community is turning an eyesore into energy. The town of Munster is set to cut the ribbon Monday on a $5 million landfill gas to energy initiative. Assistant Town Manager Clay Johnson tells Inside INdiana Business he expects the methane produced by the abandoned trash heap where a park now sits will be burned for 20 years to power a $4.3 million electric generator.
Unemployment Rate Posts Slight Decline
The state unemployment rate for September hit 8.2 percent, down slightly from the previous month. The Indiana Department of Workforce Development says it is the first decline since April. The state has also posted its first labor force increase in seven months.
Ivy Tech Extends President's Contract
Ivy Tech Community College President Tom Snyder has signed a three-year contract extension. The deal runs through June 2017. He says college affordability and bridging the so-called "skills gap" will continue to be among his priorities over the next five years.
Cummins Announces Southern Indiana Layoffs
Columbus-based Cummins Inc. continues to take steps to reach a target of cutting up to 1,500 jobs from its global work force by the end of the year. The company confirms to Inside INdiana Business that it will lay off at least 150 workers in southern Indiana.
Wayne County Native to Lead EDC
After a two month search, the Economic Development Corp. of Wayne County has appointed a new president. Richmond native Valerie Shaffer will head up the organization after most recently serving as an Indiana Economic Development Corp. senior project manager.
Economic Development Foundation Appoints New Leader
The Logansport Cass County Economic Development Foundation has named a new president. Connie Neininger is moving into the position after serving in a similar post in White County. She replaces Nolan Kuker who has taken an economic development job in Hancock County.
ExactTarget to Grow Globally
An Indiana technology company has used its annual conference to announce an expanding European footprint. Indianapolis-based interactive marketing provider ExactTarget Inc. (NYSE: ET) says it is establishing operations in Sweden and France. It already has offices in Germany and England.
Hillenbrand to Buy German Company
Batesville-based Hillenbrand Inc. has entered into a $530 million agreement to purchase a privately-held German manufacturer. As part of the deal, Hillenbrand says it will assume millions of dollars of Coperion Capital GmbH's debt.
Steel Dynamics Posts Profit Drop
Fort Wayne-based Steel Dynamics Inc. is reporting a third quarter profit of $12.8 million, compared to $43.3 million for the same period a year earlier. The company attributes the drop to lower steel shipments stemming from global economic uncertainty and a U.S. market that "remains tepid."
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